South Korean FSS warns investors about memecoin scams on DEXs

South Korea's Financial Supervisory Service (FSS) has issued a warning to investors using decentralized exchanges (DEXs) amid a recent surge in memecoin scams based on false positive news, Yonhap News reported. The FSS noted that rug pull scams often occur shortly after a coin is listed on a DEX and are frequently promoted through social media. The agency urged investors to verify a coin's basic information and carefully examine risk indicators for a potential rug pull, such as the concentration of its top holders.