Virtual asset losses will be included in the compensation scope, and South Korea's Financial Supervisory Service has initiated a system upgrade

Odaily News: The Financial Supervisory Service (FSS) of South Korea has begun a comprehensive overhaul of its related systems to address compensation issues for financial fraud losses, including virtual asset voice phishing. On August 6, the FSS launched the "Financial Fraud Loss Compensation System Improvement Project," aimed at reforming the existing Korean won-centered compensation calculation system to prepare for including virtual asset losses in the compensation scope starting this October. The current system primarily calculates compensation amounts based on losses denominated in Korean won, and after the reform, it will adopt a compensation ratio while also taking into account the types and quantities of the relevant virtual assets. In the event of a payment suspension, the Korean won conversion value of virtual assets will also be included in the calculation.