Cha & Kwon Law Offices is an expert in the field of civil and criminal law of virtual assets and has advised and represented many virtual asset issuers.

In a recent fraud case involving the issuance of virtual assets, we obtained a dismissal (no charges) against a virtual asset issuer.

We were retained by the defendants to respond to a complaint filed by the plaintiff in a fraud case alleging that the ecosystem of a recently issued virtual asset (token) was deceptive.
The virtual asset in question established an issuing corporation in Indonesia, listed on an Indonesia-based exchange, and has been stably developing NFTs and conducting ongoing development activities at its domestic operating subsidiary.

We confirmed that the complainant's misleading claims of deception were caused by online publicity and actively responded to them, but we also proved that the virtual asset ecosystem is not deceptive through a review of the ecosystem and overall structure of the token.

Recently, the virtual asset market has been shrinking, and as the number of users who have suffered financial losses has increased, many criminal cases have been filed to hold issuers accountable. The process of responding to such criminal cases is basically based on a deep understanding of the ecosystem and structure of domestic virtual assets, and if the entire investigation is carried out, the investigative agency will respond with confidence.

As a law Office specializing in virtual assets, Cha & Kwon Law Offices actively reviews and responds to such cases to help achieve the best possible outcome.