On South Korean exchanges like Upbit and Bithumb, XRP and Dogecoin (DOGE) are experiencing unprecedented trading activity, with volumes surpassing even Bitcoin (BTC).
XRP and Dogecoin Lead South Korea’s Crypto Trading
Over the past two weeks, XRP and DOGE have surged by over 100% in value, driven by several factors:
XRP benefitted from favorable regulatory changes in the US.DOGE thrived thanks to the support of public figures like Elon Musk and the political momentum following the US elections.
On Upbit, these two tokens accounted for 30% of trading volume in the past 24 hours, while on Bithumb, they made up nearly 20%. These figures exceed the usual dominance of Bitcoin, signaling a short-term demand surge for these cryptocurrencies.

Potential Reasons for High Volumes
Some of this trading volume may be attributed to wash trading, where automated programs simulate high trading activity. Still, data shows that Upbit leads global XRP trading volumes, while Binance and Coinbase dominate in DOGE trading.
What’s Driving XRP and DOGE’s Sharp Rises?
Both tokens have seen significant gains in recent weeks:
XRP is benefiting from regulatory shifts in the US, favoring tokens associated with Ripple Labs.DOGE has surged due to the Republican victory in US elections and increased support from Elon Musk, who has been selected to lead a new government efficiency unit called the Department of Government Efficiency (DOGE).
Possible Local Market Peak Signals
South Korean markets are known for driving euphoric rallies in cryptocurrencies. However, this heightened activity might also signal a local peak, suggesting a potential correction.
According to analyst Omkar Godbole, XRP could have more room for growth:
“XRP is holding above the $1 level, its strongest position in three years.”Godbole identifies key support levels at $0.96 and $0.65, with resistance at $1.26 and $1.40.
Current Prices of XRP and DOGE
As of today, XRP is trading slightly above $1, while DOGE remains just below $0.40. The trading frenzy in South Korea reflects ongoing demand but also suggests investors should be cautious of potential short-term corrections.

#doge⚡ , #Xrp🔥🔥 , #SouthKorea , #CryptoNewss , #DogecoinCommunity

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South Korean authorities have dismantled a $232 million cryptocurrency investment scam, targeting over 15,000 victims, mostly middle-aged and elderly individuals. The elaborate scheme, led by a popular YouTuber with 620,000 followers, has shocked the crypto world.

The Fraudulent Scheme
Timeframe: Operated between December 2021 and March 2022.
Victims: Persuaded to sell homes or take out loans, lured by promises of 20x returns.
Tokens: 28 tokens involved, but only 6 were real; the rest had low trading volumes and were nearly worthless.
Tactics: Prices were manipulated through internal purchases before being sold to investors.
Key Developments:
Arrests: 215 individuals, including employees and brokers, with 12 still in detention.
Mastermind: The YouTuber fled South Korea to Hong Kong, Singapore, and Australia before being captured.
Impact: This isn’t the first scam targeting the elderly. Earlier this year, another victim in his 60s lost $4.1 million in a similar scheme.
South Korea’s Booming Crypto Market
Amid these scams, South Korea’s crypto market is experiencing unprecedented growth:
Investor Base: Up 21% in 2024, reaching 7.78 million investors.
Daily Transactions: Surged 67% to $4.3 billion.
Market Value: Rose 27% to $40 billion, driven by Bitcoin’s price surge.
While male investors in their 30s dominate the space, the scams highlight the urgent need for stricter regulations to protect vulnerable populations.

Final Thoughts
This case serves as a stark reminder of the risks in the crypto world. Always verify investment opportunities and avoid schemes promising unrealistic returns. As South Korea’s crypto market grows, vigilance is key to ensuring legitimate investments.

South Korean police have uncovered a fraudulent organization that enticed investors into fake crypto investments. This group, operating as an investment advisory firm, caused significant losses and amassed hundreds of millions of dollars.
Massive Arrests and Investigation
The Anti-Corruption and Economic Crimes Investigation Unit from South Gyeonggi Province arrested a total of 215 individuals involved in this fraudulent quasi-investment company, according to Yonhap News. Out of these, 12 individuals, including a popular YouTuber known as "Mr. A," were taken into custody on fraud charges. This YouTuber allegedly had as many as 620,000 subscribers.
Fraudulent Scheme and Crypto Gains
According to reports, the group raised a total of 325.6 billion won (approximately $230 million) from 15,304 investors. Between December 2021 and March 2023, the group sold 28 different cryptocurrency assets. Six of these tokens were listed on foreign exchanges via brokers, while the remaining 22 tokens, which had no real value, originated from other entities.
Targeting Vulnerable Investors
Most of the investors were middle-aged and elderly, with some investing as much as 1.2 billion won (over $852,000). Mr. A acquired contact information of potential investors through YouTube ads that promised returns of up to 20 times the principal or a "chance to change one's fate," encouraging people to sell their assets to buy cryptocurrency.
Manipulation and Deception of Investors
The fraudulent firm also targeted those who had already suffered losses from previous investments, promising to compensate their losses with "high-potential" cryptocurrencies. To deceive investors further, the group even impersonated South Korea's financial regulatory service, collecting IDs with the promise of compensating losses. These IDs were later used to obtain loans.
Tracking and Seizing Assets
Police tracked the financial flows through 1,444 accounts used to sell fake tokens. Mr. A was eventually arrested in Australia after fleeing South Korea through Hong Kong and Singapore. Police seized 22 bitcoins (worth about $1.9 million) and an additional 47.8 billion won (around $34 million) in assets from the fraudulent group.

#SouthKorea , #Cryptoscam , #cryptofraud , #cybercrime , #CryptoNewss

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

South Korea faces a complex dilemma, akin to navigating a high-stakes transaction where every move carries significant risks. Here's a breakdown of the current predicament:

1. A Multinational Presence

With troops from 19 different nations deployed within its borders, South Korea is at a critical juncture. Should it choose to engage in conflict or maintain the status quo? The number of parties involved far exceeds initial expectations, and any engagement could prove more complicated than anticipated.

2. Questionable Gains in Victory

Even if South Korea were to succeed in a potential conflict, the rewards may be elusive. Post-war negotiations would likely be dominated by external powers, leaving South Korea with little leverage and few benefits, a scenario where the return on investment is minimal.

3. The Dire Consequences of Defeat

On the other hand, losing a conflict would spell disaster for South Korea. Beyond the possibility of territorial losses and crippling financial reparations, the country could face long-term political subjugation, risking its hard-earned sovereignty.

4. The Cost of Inaction

Choosing not to engage in conflict comes with its own set of challenges. The foreign military presence strains national resources, and the constant surveillance creates a pervasive atmosphere of tension. This could undermine economic stability and hurt public morale over time.

5. Domestic Policy Interference

These foreign forces aren’t just draining resources—they also have the potential to influence domestic politics. Their continued presence could sway policy directions that favor international interests over national development goals.

6. The Risk of Forced Expulsion

Any attempt to forcibly remove foreign troops would likely result in severe repercussions, including diplomatic backlash, economic sanctions, and even potential isolation from global trade networks. This could significantly weaken South Korea’s economy.

7. Sovereignty Under Siege

As these troops continue to remain, South Korea's sovereignty erodes. Neighboring countries have started viewing South Korea’s position with skepticism, further complicating regional diplomacy and diminishing the country’s ability to independently manage international relations.

8. The Path Forward

To regain full sovereignty and independence, South Korea must carefully navigate this intricate situation. The political and economic implications are profound, and resolving the issue will require skillful diplomacy and strategic decision-making. Every move South Korea makes now could either trap it further in this quagmire or open a path to regaining control.

Much like in high-stakes business transactions, where every decision must be weighed with precision, South Korea’s current choices will have long-lasting effects. Acting hastily or without thorough consideration may leave the nation with no easy way out, similar to being trapped on the back of a charging tiger. The stakes are high, and the consequences could shape South Korea’s future for years to come.