DAXA holds digital asset fraud prevention session for 100 Marines

The Digital Asset eXchange Alliance (DAXA) announced Thursday that it held a digital asset fraud prevention education session for about 100 Marines at Marine Corps Headquarters on Oct. 13.

It was the third such session for military personnel, following programs held for the Capital Defense Command's military police unit in August 2024 and for units under the Capital Defense Command in December of that year.

The importance of such education has grown as young service members gain greater access to financial investment products, driven by recent pay increases and expanded smartphone use during military service. The session also took into account the growing variety of fraud schemes exploiting digital assets, including illegal investment advisory chat rooms, impersonation scams and romance scams.

Jo Jae-woo, a DAXA adviser who led the session, covered the basic concepts of blockchain and digital assets, major types of financial investment fraud and real-world cases of harm. He also explained specific steps service members can take to identify suspicious investment solicitations and protect themselves.

"As young service members increasingly participate in digital asset investment, prevention education tailored to their investment habits and service environment is essential," DAXA Executive Vice Chairman Kim Jae-jin said. "We will continue to expand customized education that reflects the characteristics of diverse groups, and work to foster a sound digital asset environment and protect users."

DAXA also plans to expand its financial fraud prevention education to older adults. Having held a related session at a senior welfare center in Seoul in March last year, DAXA plans to stage an additional madangguk — a traditional outdoor theatrical performance — on the theme of digital asset investment fraud prevention, as part of a joint financial education initiative for older adults run by the Financial Supervisory Service and the financial sector in October and November.