The Digital Asset Exchange Alliance (DAXA) urged caution over phishing sites impersonating domestic won-based crypto exchanges. The method lures users to fake sites through social media service (SNS) ads and then asks them to install a PC program.

DAXA said on Tuesday that phishing sites posing as domestic won-based exchanges are being circulated via SNS ads such as Facebook, and that users need to be cautious.

In cases identified by DAXA, when a user clicks an SNS ad, it links to a site made to look like a domestic won-based exchange.

The site uses phrases such as "fee waiver with installation of a PC-only program" and "special events with use of a dedicated program" to prompt users to install the program.

But domestic won-based exchanges currently do not provide separate PC-installed trading programs to users. DAXA said requests to install a PC program are highly likely to be scams aimed at phishing or distributing malicious software.

If malicious software is installed, login details, personal information and authentication information can be stolen. There are also concerns that remote-control functions could be activated, leading to damage to digital assets and financial assets.

DAXA recommended that users access official websites directly instead of through SNS ads. It urged users to stop immediately if they are asked to install a PC program and to be cautious of ads offering excessive benefits such as free fees.

Users should also avoid downloading executable files (APK, EXE and others) from unclear sources. If a suspicious site is found, it is necessary to report it immediately to the exchange’s customer service center or relevant authorities.

Kim Jae-jin (김재진), DAXA's standing vice chairman, said "impersonation techniques have become subtle and sophisticated, so anyone can become a victim" and "in particular, if it is prompting installation of a PC program, extra caution is needed."