Coinone wins Financial Supervisory Service governor’s commendation for user protection and market surveillance

Coinone, a South Korean virtual asset (cryptocurrency) exchange, said on the 19th that a member of its user protection team responsible for market surveillance duties received a commendation from the Financial Supervisory Service (FSS).

The employee was recognized for diligently carrying out surveillance of abnormal transactions by virtual asset service providers in accordance with the Act on the Protection of Virtual Asset Users, contributing to establishing a sound trading order in the market and protecting users.

In particular, the company received high marks for proactively leading efforts to rationalize operating standards for always-on monitoring of abnormal transactions through communication with the FSS. Other key achievements cited for the award included helping lay the groundwork for stable system operations by systematically improving shortcomings identified through the process.

Coinone’s user protection team carries out tasks including ▲ monitoring and taking action on abnormal transactions in the virtual asset market ▲ monitoring and responding to unfair trading practices (price manipulation, use of non-public information, etc.) ▲ analyzing and responding to abnormal transaction patterns to prevent financial incidents. In 2024, the team also received a letter of appreciation from the Seoul Metropolitan Police Agency for being the first to report voice phishing victim funds remaining at a virtual asset exchange and, in cooperation with investigative authorities, refunding them to victims.

A Coinone official said, “We believe this result was possible thanks to the efforts of not only the user protection team but also all related departments,” adding, “We will continue to do our utmost to establish a sound order in the virtual asset market and keep customers’ assets safe.”