Business · Companies · 2 hrs ago
Coinone says it helped return 7.5 billion won to fraud victims
South Korean crypto exchange Coinone says it helped return about 7.5 billion won to victims of voice-phishing and other telecom financial fraud from October 2023 through September 2026.
It worked with the Seoul police and KakaoBank to help handle those refunds.
Coinone says it directly returned about 2.47 billion won in cooperation with Seoul police, and supported the return of about 5.01 billion won through a process set up with KakaoBank.
Until recently, exchanges had no official way to refund victims directly, so Coinone helped KakaoBank return the money.
A revised law took effect on October 1, allowing Coinone to switch to direct refunds.
The company says it will keep working with relevant agencies to get victims' money back quickly.
Coinone said it helped return about 7.5 billion won in money lost to voice phishing and other financial fraud over nearly three years.
From October 2023 through September 2026, it directly refunded about 2.47 billion won in cooperation with the Seoul Metropolitan Police Agency.
With KakaoBank, it supported refunds of about 5.01 billion won through a joint return process established in October 2024.
Coinone said it shifted to direct refunds after a revised law on telecommunications fraud refunds took effect on October 1, 2026.
- Who
- Cryptocurrency exchange Coinone, working with the Seoul Metropolitan Police Agency and KakaoBank.
- What
- It said it helped return about 7.5 billion won to victims of voice phishing and other financial fraud.
- When
- Over nearly three years, through September 2026. The revised law took effect on October 1, 2026.
- Where
- South Korea.
- Why
- Coinone said the revised law enabled it to move to direct refunds, allowing victims’ money to be returned through that process.
This story does not have two clearly opposing sides.
Coinone directly refunded about 2.47 billion won in cooperation with the Seoul Metropolitan Police Agency.
Coinone and KakaoBank established a process for returning fraud victims’ money.
A revised law on telecommunications fraud refunds took effect, and Coinone said it shifted to direct refunds.
Coinone announced that it had helped return about 7.5 billion won over nearly three years.
- Total refunds supported
- About 7.5 billion won
- Direct refunds with Seoul Metropolitan Police Agency
- About 2.47 billion won
- Refunds supported with KakaoBank
- About 5.01 billion won
- KakaoBank return process
- Established in October 2024
- Revised law took effect
- October 1, 2026
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What people are saying
We will continue to work closely with relevant organizations after the revised law takes effect and do our utmost to ensure that the money is returned to victims promptly.