Mirae Asset Chairman Slams Bitcoin as 'Fraudulent' Listings Scam Assets

Mirae Asset Group Chairman Park Hyeon-joo expressed strong skepticism about Bitcoin investment during a meeting with employees of DigitalX, the group's digital asset subsidiary. He stated that few people have made money from the cryptocurrency and many have suffered significant losses.

Speaking in Seoul on Tuesday, Park also criticized listing practices at South Korean virtual-asset exchanges, describing them as 'fraudulent'. He argued that hundreds of altcoins were listed without proper due diligence, leaving 80% to 90% of customers with losses. Charging fees for such activity, he said, was 'criminal behavior'.

Park emphasized the need for greater transparency and investor protection in the industry. He expressed confidence that DigitalX could achieve profitability by 2027 if the company moves aggressively on capital increases and makes diverse global investments.