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Anyone who makes a cryptocurrency must present a white paper together. The white paper contains information that investors must know, such as how the cryptocurrency was developed, where it will be used in the future, and how much it will be made. It is also the most important subject of verification for listing on the exchange, and there are companies that roughly tweak the contents of these white papers or modify them at will.



Reporter Lim Tae-woo reported.



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Chairman of a virtual currency presentation.



Company officials mix technical terms to explain the use of cryptocurrency.



[Virtual currency company officials: I think that a proper blockchain project should come out, so we tokenize (tokenize) OTC stocks and provide a security exchange so that we can actually trade them... .] There



were several business plans in the white paper, but nothing has progressed since listing, and in the end, the price fell 99% from the peak in four months.



[Virtual currency investor: (CEO) I always explained in this way,'This is almost finished,' while showing a few documents, but nothing has actually been done.] In the



white paper, important information such as development method and issuance volume, etc. On the other hand, the issuer deleted information that was unfavorable for attracting investors, which caused controversy.



The issuer of the Arowana Token, which had soared 1,000 times within 30 minutes of listing, randomly modified the list of participants written in the white paper just before listing, and it turned out that people who were involved in other cryptocurrencies that had problems were deleted.



[Irowana Token Investment Company: In the community or in such places (part of the participants) the history of failure in the past was constantly being discussed, and this seemed a little controversial, so I was concerned about it and deleted it... .]



The specific financial transaction law, which came into force on the 25th of last month, required reporting of the product name, issuer, and quantity held on the cryptocurrency exchange, but did not set a regulation to oversee the issuer.



Even white papers, the only means of verification, are poorly written and managed, so it is necessary to thoroughly verify them even through exchanges.



(Video coverage: Park Dong-ryul·Lee Seung-hwan, video editing: Kim Seon-tak)



▶ After 200% soaring in a single word from

YouTuber, it was cut in  

half