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Media Coverage NEWVoice Phishing Scams Using Wallet Addresses: Rising Threats in the Crypto Space
Criminals are increasingly exploiting cryptocurrencies in voice phishing scams, coercing victims into directly transferring Bitcoin (BTC), Tether (USDT), and other digital assets. Unlike traditional bank transfer schemes, these scams lead victims to withdraw from crypto exchanges or transfer between wallets—making funds significantly harder to trace. In many cases, perpetrators contact victims under the guise of “debt recovery,” “investment refunds,” or “international remittance processing,” and then request crypto transfers. Once received, the assets are quickly dispersed through multiple transactions, complicating any attempts at tracking. In some instances, assets sent from domestic exchanges have been moved to overseas wallets within hours or disappeared through mixing services. (omitted) Hyunsoo Jin, Managing Attorney at Decent Law Firm, stated, “Crypto-based voice phishing scams are far more difficult to recover from compared to traditional account-based fraud. Rapid initial response and preservation of digital evidence are crucial. It’s important to secure transaction history, wallet addresses, exchange account data, and phone recordings to support both criminal complaints and civil recovery.” He added, “If the scammers’ wallets or exchanges can be identified, victims may request emergency freezes or pursue international cooperation through investigative agencies. Immediate legal consultation is essential for assessing the situation and pursuing both criminal and civil remedies in parallel.”
2025-04-14 경향게임스 -
Media Coverage NEW
OTC Crypto and Stablecoin Trading Surge Following Trump’s Inauguration
OTC (over-the-counter) trading volume for cryptocurrencies and stablecoins saw a fivefold increase in Q1 2025 compared to the same period last year, following the inauguration of U.S. President Donald Trump. This dramatic growth is attributed to rising institutional interest as regulatory discussions surrounding stablecoins gain momentum in the United States. According to the Q1 2025 report by digital asset trading technology firm Finery Markets, OTC trading volume among 2 million institutional spot transactions analyzed between January and March surged by 141% year-over-year. Stablecoin-related trading activity grew by 158% during the same period. (omitted) Commenting on this trend, Hyunsoo Jin, Managing Attorney at Decent Law Firm, noted, “The sharp rise in stablecoin activity in OTC markets indicates that regulatory discourse is translating into actual institutional engagement. Stablecoins are emerging as a crucial bridge between traditional finance and digital assets, and their regulatory trajectory may significantly influence global capital flows.” He further emphasized, “For businesses, managing risks associated with potentially regulated asset classes is critical. Legal and operational preparedness is essential to ensure transparency in transaction structures and fund flows.”
2025-04-14 Tokenpost -
Media CoverageDecent Law Firm Expands International Legal Services through MOU with Philippine Law Firm
Decent Law Firm (represented by Managing Attorneys Hyeonsu “Elliot” Jin and Pureun “Ian” Hong) announced that it has signed an MOU with the Philippine law firm Respicio, expanding its international legal services to target the legal markets in both Korea and the Philippines. The Philippines is considered an attractive country for domestic investors and companies due to its unique geographical location and diverse resources. With its high growth rate and stable economic conditions, more domestic companies are considering expanding their businesses or exports to the Philippines, as it offers favorable conditions for enterprises. In response, Decent Law Firm is partnering with Respicio to provide international legal services to companies and individuals either seeking to enter the Philippine market or those involved in legal disputes with locals or members of the Korean community in the Philippines. The target clients for these international legal services include those residing in the Philippines and involved in administrative, criminal, or civil litigation, requiring legal assistance, or those planning to enter the Philippine market and needing legal consultation. The firm will also provide tailored legal advice and support for Filipino companies wishing to enter the Korean market. Through its collaboration with a local law firm staffed by Filipino lawyers, Decent Law Firm expects to offer more efficient and timely services to local entrepreneurs and the Korean community. Hyeonsu “Elliot” Jin, Managing Attorney of Decent Law Firm, stated, “Our international legal team at Decent is composed of lawyers with extensive overseas experience and excellent English proficiency. We aim to be a reliable support for both individuals and businesses in Korea and the Philippines.
2024-10-16 The JoongAng -
Media Coverage
Fraud Crimes Increased by 10% in the First Half of This Year, 'Online Scams Using Platforms like Telegram Surge'
The number of fraud crimes reported to the prosecution in the first half of this year increased by 10% compared to the same period last year. Experts have analyzed that fraud through social networking services (SNS) such as Telegram and Naver Band has surged. (omitted) Experts noted that scams using platforms like Telegram, Naver Band, and KakaoTalk open chat rooms have become more frequent, leading to a significant increase in victims. While messengers like Telegram were previously used mainly by younger people, more older users have recently joined, resulting in scams targeting people of all ages. Two prominent examples are stock-leading chat room scams and romance scams. Stock-leading room scams involve promising high returns and deceiving victims by claiming to share stock information. Victims are lured into paying to join paid chat rooms with the promise of receiving premium information, only to have hundreds of thousands of won stolen. Romance scams involve fraudulent activities disguised as romantic relationships. A recent example is the case of Jeon Cheongjo, who scammed former fencing national team member Nam Hyun-hee. Other common tactics include scammers posing as foreign military personnel or refugees, sending messages like "I want to come to Korea" or "I want to meet you" to lure victims into sending money. In online scams, while victims often send money via bank transfers, experts have noted an increase in cases where payments are made in virtual assets, making it nearly impossible to recover the stolen funds. Pureun “Ian” Hong, managing partner at Decent Law Firm, commented, "Recently, a wide variety of scams have surged on platforms like open KakaoTalk chat rooms, Telegram, and Naver Band. The common characteristic of these scams is that the perpetrators introduce themselves in an unverifiable online setting and then ask for money. People should be cautious about sending money to individuals they cannot verify."
2024-09-11 Financial News -
Media Coverage
Unregistered Operator BTCC Engages in Illegal Activities Again: 'Korean Language Support and KRW Deposits Available'
It has been revealed that the unregistered virtual asset service provider (VASP) BTCC is promoting Korean language support and KRW transfers while proposing partnerships to domestic blockchain companies. On August 27, it was confirmed that BTCC sent an email to domestic blockchain company A on the afternoon of August 26, offering a partnership with BTCC, which supports the Korean language and accepts KRW deposits. (omitted) Hyeonsu “Elliot” Jin, managing partner at Decent Law Firm, pointed out, "KRW deposits, card usage, and bank account registration could potentially violate the Act on Reporting and Using Specified Financial Transaction Information (Special Act) and the Electronic Financial Transactions Act." Jin further stated, "Since BTCC has not obtained a business license under the Special Act, it seems clear that they are operating illegally." He added, "Since card companies block virtual asset payments, it's unlikely that payments will be processed normally, and there is a risk of involvement in money laundering through illegal means such as bypass payments."
2024-08-28 Digital Asset -
Media Coverage
Coin Exit Scam Delio Shifts Loss Responsibility to Users by Amending Terms and Conditions
Delio, a virtual asset deposit service currently on trial for the '2.5 billion won coin exit scam,' has been accused of secretly amending its terms and conditions to avoid responsibility for deposit losses, shifting the burden to users. Initially, the company attracted users by promising to guarantee the principal, but without notice, it altered the terms to make users responsible for any losses. Legal experts have pointed out that if the terms were changed in a way that disadvantages users, the revised terms should not be applied retroactively to existing users. According to the virtual asset industry on the 14th, Delio recently submitted its 'virtual asset deposit service terms and conditions' to the Seoul Bankruptcy Court, where its bankruptcy proceedings are underway. The last amendment to these terms was made in September 2022, and it includes a clause assigning the responsibility for deposit losses to users. Article 5, Clause 2 of the terms states that 'all responsibility for losses incurred from deposit products invested in at the user’s discretion shall be borne by the user.' (omitted) Legal experts criticized Delio for failing to uphold its moral responsibility as a virtual asset service provider. Typically, when financial institutions amend terms and conditions in a way that disadvantages users, they do not apply the changes retroactively to existing users. However, if a financial institution seeks the consent of users for the amended terms, even disadvantageous provisions may be applied retroactively, according to legal opinions. Pureun “Ian” Hong, managing partner of Decent Law Firm, stated, "Since Delio's deposit service terms were amended in a way that disadvantaged users, Delio should have sought user consent for those changes."
2024-08-14 ChosunBiz
