Last year, there was a significant increase in the number of complaints filed against South Korea’s four largest cryptocurrency exchanges. According to Yonhap, there has been a vertical spike in complaints filed by the Korea Consumer Agency. According to the statistics, the public filed 232 formal complaints with the government last year against the four largest crypto exchanges in the country, Upbit, Coinone, Korbit, and Bithumb.
Despite the fact that crypto-related complaints are constantly increasing, no steps are being made to protect consumers and crypto users. However, the increase in complaints must be viewed in light of the fact that the user bases of four trading platforms grew significantly last year. By the end of 2021, a total of 12.02 million clients – more than 23% of the population – will have opened wallets on the four trading platforms.
The national energy company raised electricity tariffs. Bitcoin mining also witnessed a significant surge. In 2020, 28 mining rig exports were recorded. In 2021, this figure is expected to rise to 453 shipments.
