A fair warning has been given to South Korea citizens by the government to avoid crypto meetups.
Segye Ilbo added that that the government warned the citizens about the dangers such meetups could cause financially asides the risk of being infected with Coronavirus. There have been several reports about scammers organizing cryptocurrency meetups to draw people's attention into multi-level marketing projects.
Local media outlets say one of the firms advocating a crypto MLM investment plan is the Muhan group, a door-to-door sales firm that is not officially recognized.
Around August, quarantine officials discovered 83 positive cases at a Muhan group meetup, based on Gwanak district authorities' reports. Asides from the Muhan group, other firms are also intensifying the authority's pandemic worries. An unnamed blockchain business has recorded up to 44 Covid-19 cases among its staff.
South Korea's financial service commission, however, stated that the residents should try not to leave their homes in compliance with COVID-19 prevention guidelines.
Source: Cointelegraph
