Six people received compensation from the Korean Upbit crypto currency exchange for reports of fraudulent schemes associated with cryptocurrency.
Second in trading volume Korea exchange Upbit in March launched a system to reward users for providing information about multi-level fraudulent schemes related to cryptocurrency and ICO. The amount of remuneration the company established in the amount of 1 million won (about $930).
Upbit reported that since the launch of emoluments received a total of 10 cases, of which 6 were selected by the exchange. On 6 June the applicants were “with appreciation the aim of 1 million Korean won”, said the company.
The President of the company Dunamu operator Upbit — Lee Seok-Woo (Lee Seok-woo) and four of the six who received the reward.
The reward system Upbit reminiscent of the scheme of financial informants, for many years used by the Supervisory authorities in the field of traditional Finance. For example, since 2012, 53 persons received a total of $262 million from the Commission on securities and exchange Commission (SEC) for providing valuable information.
Previously one of the largest kryptomere world Binance — offered $250 thousand for information about hackers trying to hack it in the beginning of March. In addition, the company has allocated $10 million to Fund the bounty program aimed at tracing hackers and other intruders that may try to hinder the work of the site.
It is noteworthy that the very Upbit in may was suspected by law enforcement agencies of Korea in the fraud. In the headquarters of the company were searched, was seized hard drives and data of user accounts.