News author: Crypto Emergency
In South Korea, the number of voice phishing cases involving cryptocurrencies is rapidly increasing. According to the police, from January to July 2025, 420 incidents were recorded — this is 6.6 times more than in the same period last year (64 cases). This trend indicates the growing sophistication of cybercriminals and the vulnerability of citizens to new schemes of deception.
Attack scenario: how scammers operate
Criminals use a proven tactic: they call victims, posing as employees of the prosecutor's office or financial regulators. Under the pretext of account compromise, they persuade victims to purchase cryptocurrency worth hundreds of millions of won (hundreds of thousands of dollars) supposedly for 'asset verification.' Pressure, urgency, and imitation of an official tone compel victims to act impulsively, without proper verification.
In several cases, victims transferred funds in Bitcoin and the Tether stablecoin, losing up to 190 million won (approximately $143,000) in a single transaction.
Why has cryptocurrency become a convenient tool for scammers?
The rise of such crimes is explained by a number of factors:
Pseudo-anonymity of cryptocurrencies: The ability to quickly transfer funds across borders without the involvement of banks.
Tracking difficulty: Despite the transparency of the blockchain, the use of mixers and exchanges complicates the recovery of funds.
Manipulation of trust: Scammers use the symbols and rhetoric of official structures to mislead victims.
Low level of digital literacy: Many users do not recognize the signs of phishing and do not know how to protect themselves.
What needs to be done?
The situation requires urgent measures: strengthening cooperation between law enforcement, cryptocurrency exchanges, and financial regulators. There is a need to develop mechanisms for rapid response and investigation, as well as large-scale educational campaigns aimed at increasing the digital literacy of the population.
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