South Korea Flags API Trading at 30% of Crypto Volume

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The Financial Supervisory Service (FSS) urged users to exercise caution, stating that some instances of unfair practices have been identified in transactions conducted through Application Programming Interfaces (APIs), which are automated trading programs for virtual assets. On the 13th, the FSS announced that users need to be aware of cases of abuse using APIs, such as manipulating virtual asset prices, distorting market conditions, and driving…

ddaily.co.kr

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[Digital Daily Reporter Kim Nam-gyu] The Financial Supervisory Service (FSS) has urged investors to exercise caution, stating that market manipulation, fictitious orders, and wash trading utilizing APIs—automatic order programs—have been confirmed in the virtual asset market. This indicates that APIs, which are intended to enhance trading convenience, are being misused by some as tools for unfair trading. According to the FSS, transactions util…