How much damage did cryptocurrencies cause in South Korea in 2022?

Damages from cryptocurrency-related crimes surged 118% over the last five years in South Korea to 1.02 trillion won ($797.81 million) in 2022, according to the statement, with various kinds of crimes emerging from price manipulations to illegal foreign exchange transactions and ponzi schemes.

Did cryptocurrency have a moment?

"Impact x Nightline" takes a look at the victims of the financial collapse. It seemed like cryptocurrency was having a moment. At the start of 2022, the Super Bowl featured celebrities like Tom Brady, Larry David and Matt Damon in commercials for crypto companies.

How does cryptocurrency work?

Instead of exchanging money through a third party, like a bank, cryptocurrency allows users to transfer digital currency directly. However, unlike traditional forms of currency such as the U.S. dollar, the government does not insure deposits and federal agencies have taken limited steps to regulate the crypto industry.

Who manned the Joint Investigation Centre for crypto crime?

The Joint Investigation Centre for Crypto Crimes will be manned by some 30 personnel from judicial, financial, tax and customs agencies, the Prosecutors' Office said in a statement.