South Korean Law Enforcement to Launch Investigations on Altcoin Pump-and-Dump

[Denker]

I don't see what they are going to be able to do about pump and dumps, the ponzi scam sites being operated in their country could be handled but that's all I see happening.

Yes their efforts won't have any big effect. Pumps and dumps will still occur. This is just a waste of time.

[lemoncoolers]

I don't see what they are going to be able to do about pump and dumps, the ponzi scam sites being operated in their country could be handled but that's all I see happening.

Yes their efforts won't have any big effect. Pumps and dumps will still occur. This is just a waste of time.

There are ppl who are making a big profits from pumps and dumps. The number of them will be not many. IMO for most ppl, they are losing money. It does have some extent of impact on them who involve in altcoin trading, and make a big loss, or plan to involve in it! It will give them warning.

[mallard]

They will probably catch a few people and then give them big penalties as a warning to everyone else.

[gogxmagog]

The main problem bringing justice to frauds is getting the money back. It's hard enough to track down the perps, prove what they did. Getting even a dime back... Impossible. What's the penalty for fraud in South Korea? Firing squad?
I've lost more than I care to mention to btc frauds. One has even been caught and fined. They still haven't been able to do a disbursement yet. And that's in the USA.

There's also ASICminer, Fried cat is apparently being investigated by the Chinese if they can even find him. (Probably won't) At least I feel good knowing that if they do... Firing squad!

The whole story just sounds like typical cop propaganda
"Don't worry mam, we've got everything under control" (they don't have a clue)

[S4VV4S]

I don't see what they are going to be able to do about pump and dumps, the ponzi scam sites being operated in their country could be handled but that's all I see happening.

Many PnD are created from the alt-coin creators themselves.
They might be trying to stop them but unless the developers are in South Korea then there is no chance of that happening.
Also, I doubt they could stop web ponzis if they use crypto.

[Q7]

It's about time somebody make it illegal in the state law and an offence to create alt pump and dump coin. How many times we have seen bitcoin indirectly suffer loss of trust because people seems to think that these altcoins are related to bitcoin. And how about those people who lost their hard earned money.

[S4VV4S]

It's about time somebody make it illegal in the state law and an offence to create alt pump and dump coin. How many times we have seen bitcoin indirectly suffer loss of trust because people seems to think that these altcoins are related to bitcoin. And how about those people who lost their hard earned money.

They can make it illegal all they want.
The fact is that it's not going to stop happening over and over again.
How exactly are they going to stop it?

[Herbert2020]

I don't see what they are going to be able to do about pump and dumps, the ponzi scam sites being operated in their country could be handled but that's all I see happening.

Many PnD are created from the alt-coin creators themselves.
They might be trying to stop them but unless the developers are in South Korea then there is no chance of that happening.
Also, I doubt they could stop web ponzis if they use crypto.

I don't see how they would be able to prove anything when it comes to a PnD, also a vpn and not say they are located in SK is all they would need to keep the law at bay.

i agree, i don't see any way that law enforcement can prove that a person or a group has done any sort of Pumping and Dumping in any court of law.
unless that person or group had openly announced that they are doing it like having a P'nD group.