According to PANews, South Korean authorities have apprehended 215 individuals in connection with a large-scale cryptocurrency investment scam. The fraudulent scheme, which promised high returns, deceived approximately 15,000 investors, resulting in losses totaling around 300 billion Korean won (equivalent to $213 million). Among those arrested are 12 key figures, including the mastermind behind the operation, a YouTuber in his 40s with a subscriber base of 620,000.
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The trio highlighted that regardless of whether new legislation or a restructured regulatory environment progresses, scrutiny from regulators and policymakers on certain aspects of the industry will remain effective. This is particularly true for token issuances, where their "Token Issuance Guidelines" based on principles continue to be applicable. They stressed the importance of developers taking an active role in shaping the future of the industry by showcasing the potential of decentralized protocols to address risks and validate new regulatory methods.
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According to PANews, recent data from Coinglass reveals that the cryptocurrency market has experienced significant liquidations over the past 24 hours, totaling $288 million. This includes $94.63 million in long positions and $194 million in short positions.
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