Crypto Exchange Upbit Offers Reward For Reporting Fraudulent Crypto Schemes

News | March 29, 2018 By:

South Korean cryptocurrency exchange Upbit has launched a program to reward users for identifying fraudulent multi-level cryptocurrency schemes and initial coin offerings (ICO).

Upbit, which is backed by South Korean chat giant Kakao, said that the number of illegal multi-level and Ponzi fraud cases has been increasing and its new system will attempt to “prevent damage due to fraud.” It is encouraging its users to participate in the new reward program in order to create a sound cryptocurrency ecosystem.

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