South Korean Audit Finds Over $15 million Bailout Money Mistakenly Issued to Crypto Investors
2025-12-16 22:59:00
South Korean auditors have found that about 269 individual crypto traders in the government's "New Start Fund" for small and medium-sized enterprises after the epidemic received a total of more than $15 million in debt relief. One of the recipients received a reduction of $62,000 and a 77% reduction in debt, while still holding about $307,000 in crypto assets. According to regulators, it is difficult to verify crypto assets under the current system unless it is voluntarily declared. Legislative amendments have been pushed to give Korea Asset Management Corporation (KAMCO) the power to inquire about the recipient's unlisted stocks and crypto assets without consent to prevent similar situations from happening again.
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