Reason for this visit

With the promulgation of the Korean Financial Special Act, it means the legality of virtual assets have been officially recognized in the Korea, and cryptocurrency exchanges will also be officially regarded as financial institutions. To help investors get a more comprehensive view of the exchanges in this country, the survey team will go to South Korea for on-site visits.

On-site visit

This time the survey team visited the cryptocurrency exchange foblgate in South Korea, with specific address at 397 Seocho Avenue, Seoul, South Korea.

The team arrived at the office building at 397 Seocho Avenue in Seoul, South Korea. Upon entering the building, the team found no logo or name of the cryptocurrency exchange foblgate on the floor directory.

Conclusion

The survey team went to Seoul for on-site visit of the cryptocurrency exchange foblgate, but didn’t find any logo or name of the exchange at the displayed address, which means it has no real business premise. Please be prudent if trading with this exchange.

Disclaimer

The content is for informational purpose only, and shall not be taken as final order for making choice.