South Korean crypto consumer complaints surged 55-fold in January

The number of consumer complaints related to cryptocurrency filed in South Korea surged last month, SBS Biz reported. According to the Korea Consumer Agency and the Korea National Council of Consumer Organizations on Feb. 27, cryptocurrency saw the largest month-over-month increase in consultations among all product categories. The number of cases jumped 30.2-fold from 68 last December to 2,054 last month. The figure marks a 55.5-fold increase from January of last year. The media outlet attributed the spike to a surge in investor inquiries after a virtual asset platform altered the conditions for a promotional event that provided support funds for API trading integration.