"Total Prize of 100 Million Won"⋯Upbit Hosts Quiz Event to Prevent Ponzi Schemes

# Upbit Launches Quiz Event to Educate Investors on Ponzi Scheme Prevention Dunamu, the operator of South Korea's leading cryptocurrency exchange Upbit, announced on October 28 that the company will hold a Ponzi scheme prevention quiz event as part of its efforts to promote a safer and more reliable environment for digital asset investment. Upbit has recently taken proactive measures to protect investors from rising cases of Ponzi schemes in the digital asset sector. Notably, the platform acted swiftly to block withdrawals to Quantvine, a firm suspected of operating an illegal fundraising scheme. In response, other domestic exchanges implemented cautionary measures, and authorities launched formal investigations, effectively curbing further damage to investors. # Educational Initiative to Enhance Investor Awareness Through this quiz event, Upbit aims to educate its users with straightforward content on the concept of Ponzi schemes, their warning signs, prevention strategies, and guidance on how to respond if victimized. Participants will first access educational materials before attempting the quiz. Those who score perfectly will have the chance to win a share of the prize pool, totaling 1 Bitcoin(BTC), currently valued at approximately 129 million KRW (around $96,000). A total of 10,000 winners will be selected via a lottery. The event will be accessible via Upbit’s official website until October 31. Participants can attempt the quiz once daily until they achieve a perfect score. # Strengthened Commitment to Investor Protection A Dunamu representative explained the goal behind the initiative: “As Ponzi schemes become increasingly sophisticated, we launched this quiz event to raise awareness about these deceptive practices. We remain committed to continuously offering educational content that helps safeguard our customers’ assets.” To minimize potential financial losses caused by criminal activity, Upbit has implemented a real-time monitoring system and established a reporting channel for suspicious activities. Users can report fraudulent schemes, multi-level marketing entities, or illicit users through the “1:1 Inquiry” feature on Upbit’s customer service portal. With these efforts, Upbit reiterates its dedication to protecting investors while fostering a secure digital asset investment ecosystem.