South Korea warns: crypto meetings dangerous to health and wealth

The warning doesn’t just refer to the coronavirus pandemic.

The South Korean government has publicly warned against personal crypto meetings.

A second wave of the coronavirus is currently raging in the country and there is a „high risk“ of being infected

Segye Ilbo reports that authorities not only warned of COVID-19 risks , but also of possible „financial harm to consumers“. Previously it was known that scammers are holding meetings to attract people to multi-level marketing systems.

One of the companies that made the local media is an „unregistered peddler sales company“ called the Muhan Group. This advertises an investment in a multi-level marketing system that is said to be built on Bitcoin Profit. In reality, it is a simple scam, the report says.

Authorities in Seoul’s Gwanak district said quarantine officials traced 83 positive cases to a meeting held by the Muhan Group last month.

The country’s financial regulator, FSC, commented:

„Citizens should, as provided in the COVID-19 prevention guidelines, stay at home as much as possible and refrain from attending small meetings and investment briefings.“

The Muhan Group isn’t the only company South Korean authorities are warning of amid the pandemic. Recently, at least 44 employees of an unnamed South Korean block chain company were positive for COVID-19 tested . The employees have now been quarantined.