PANews reported on January 22 that according to an official announcement, South Korean cryptocurrency exchange Upbit reminded users to be wary of online scams impersonating former and current Upbit employees. According to a case published by Upbit, an imposter recently posted a forged employee ID through social media, pretending to be an "employee who worked at Upbit three years ago." The imposter approached an unspecified number of people in the name of promoting his personal business and on the grounds of "helping to conceive a business model." An Upbit official said: "Employee ID photos have never been made public, and all employee IDs posted are forged. Upbit will never request or contact personal information through personal channels under any circumstances."

In addition, there are scams that use the information provided about the listing of virtual assets as bait. Another attacker posing as a current Upbit employee distributed a PDF file claiming that "10 virtual assets listed by Upbit within a specific period will be made public." Impostors forge chat records between specific people to induce the purchase of specific virtual assets, so be especially vigilant. Such behavior may evolve into telecommunications financial fraud.

Upbit emphasized: "All content related to trading support will only be notified through Upbit announcements. Employees will not directly notify future trading support plans through Kakao Talk chat rooms, etc." and added: "The situation where the words of Upbit related persons are quoted may not be confirmed, so users are advised to be careful to avoid asset losses.