Dunamu, the operator of the virtual asset exchange Upbit, announced on the 28th that it will hold a Ponzi scheme prevention quiz event to take the lead in creating a sound and safe virtual asset investment environment.

Upbit quickly restricted withdrawals to Quantvine, one of the suspected similar receiving companies. After Upbit’s preemptive action, other domestic exchanges also called for caution and authorities began investigating, which helped reduce the spread of additional damage.

The company will conduct a Ponzi fraud prevention quiz event for users and conduct protection activities through investor education on everything from fraud prevention methods to countermeasures. The Ponzi fraud prevention content prepared by Upbit consists of detailed explanations of unfamiliar Ponzi frauds, methods for preventing damage, and tips for responding when you are a victim of fraud.

Users who wish to participate can learn about Ponzi scheme prevention content and solve quizzes. Upbit will select 10,000 people who get perfect scores on the quiz and give them a total of 1 Bitcoin (approximately 129 million won). You can participate in this Ponzi scheme prevention quiz event through the Upbit homepage notice until the 31st. You can try once a day until you get perfect scores.

A Dunamu official said, “We are holding the quiz event to raise awareness about the increasingly sophisticated Ponzi schemes,” and “We plan to continue to provide useful educational content in the future to protect our customers’ valuable assets together.”

Meanwhile, Upbit operates a continuous monitoring and reporting channel for suspected Ponzi schemes to minimize the possibility of user damage due to financial crimes. Users can report multi-level marketing companies and bad users through the '1:1 Inquiry' tab in Upbit's customer center.