Upbit investor warning – guaranteed return offers are scams
South Korea's crypto exchange Upbit issued an investor alert stating that any investment solicitation promising "loss protection" or guaranteed returns is fraudulent.
Upbit stated that scammers contact users through social media or messaging platforms, posing as financial advisors or Upbit partners. The scammers claim to help investors recover trading losses or earn steady profits by managing assets through external links or applications.
The exchange stated it does not provide investment management services, profit guarantees, or compensation for trading losses under any circumstances. Upbit instructed users never to share login details, transfer funds to unverified wallets, or install apps suggested by unknown individuals.
All official communications, including support and security verification, are handled exclusively within the Upbit platform or through verified contact channels. Any message encouraging users to invest in "protected profit programs" or "loss recovery projects" should be treated as a scam attempt.
The warning comes amid increased crypto-related voice phishing and fraud cases in South Korea. Criminals are using AI-generated profiles and fake investment dashboards to deceive victims, according to the exchange.
The exchange stated it does not provide investment management services, profit guarantees, or compensation for trading losses under any circumstances. Upbit instructed users never to share login details, transfer funds to unverified wallets, or install apps suggested by unknown individuals.
All official communications, including support and security verification, are handled exclusively within the Upbit platform or through verified contact channels. Any message encouraging users to invest in "protected profit programs" or "loss recovery projects" should be treated as a scam attempt.
The warning comes amid increased crypto-related voice phishing and fraud cases in South Korea. Criminals are using AI-generated profiles and fake investment dashboards to deceive victims, according to the exchange.
Upbit operates as South Korea's largest cryptocurrency exchange by trading volume. The platform has not disclosed how many users have reported fraud attempts or financial losses from these schemes.
The exchange said it collaborates with law enforcement and financial regulators on investor protection efforts. Upbit has issued multiple fraud alerts in 2025 addressing different scam tactics targeting cryptocurrency users.
South Korean authorities have prosecuted several cases involving fake investment advisors who targeted crypto exchange users. The Financial Services Commission has also issued warnings about fraudulent schemes promising guaranteed returns on digital asset investments.
Alert had specifically addressed schemes where scammers claim affiliation with the exchange or promise to recover past trading losses. The company emphasized that legitimate exchanges do not offer such services or reach out to users with unsolicited investment offers.
The exchange maintains official customer support channels through its website and mobile application. Upbit stated it will never ask users to share passwords or private keys through external communication platforms.
The exchange said it collaborates with law enforcement and financial regulators on investor protection efforts. Upbit has issued multiple fraud alerts in 2025 addressing different scam tactics targeting cryptocurrency users.
South Korean authorities have prosecuted several cases involving fake investment advisors who targeted crypto exchange users. The Financial Services Commission has also issued warnings about fraudulent schemes promising guaranteed returns on digital asset investments.
Alert had specifically addressed schemes where scammers claim affiliation with the exchange or promise to recover past trading losses. The company emphasized that legitimate exchanges do not offer such services or reach out to users with unsolicited investment offers.
The exchange maintains official customer support channels through its website and mobile application. Upbit stated it will never ask users to share passwords or private keys through external communication platforms.
Author
Sebile Fane cut her teeth in blockchain by building tiny NFT experiments with friends in her living room, long before the buzzwords took hold. She’s driven by a curiosity for the human stories behind smart contracts — whether it’s a small-town artist minting her first token or a DAO voting on climate grants — and weaves technical insight with genuine empathy.
