South Korean regulator flags rise in crypto API market abuse

South Korea's Financial Supervisory Service (FSS) on April 13 warned consumers of a rise in unfair trading practices involving the use of Application Programming Interfaces (APIs) to inflate virtual asset transactions, Yonhap News reported. The regulator shared examples of such misconduct, where automated trading programs are used for market manipulation, and issued a consumer advisory. API-driven transactions currently account for around 30% of the total trading volume in the country's virtual asset market.