The South Korean government has warned the public to avoid actual encounters with cryptocurrencies due to the “high risk” of getting coronavirus in the middle of the country’s second outbreak.
Segye Ilbo said that the authorities have not only warned against COVID-19 fears, but also potential “financial harm to consumers” after reports of scammers holding meetings to engage people in multi-level marketing (MLM) schemes.
One of the companies cited by local media is an unregistered door-to-door company called the Muhan Group, which promotes multi-division opportunities for marketing investments, presumably based on cryptocurrencies. The report actually referred to this as a minor scam.
Authorities in Seoul’s Guanak district said quarantine officials registered 83 positive cases last month at a meeting hosted by the Mohan Group.
The Financial Services Commission, said:
Residents should generally stay at home for as long as possible in line with COVID-19 prevention guidelines and refrain from attending small gatherings and investment meetings.
The Mohan group is not the only South Korean government to express concern about the epidemic. At least 44 employees of an unnamed South Korean blockchain company have recently tested positive for COVID-19. The staff has since been laid off.