Seoul, South Korea – The Financial Services Commission (FSC) has issued a stern warning to cryptocurrency investors and businesses after a sophisticated phishing scam was uncovered.

Cybercriminals have been impersonating a high-ranking official from the FSC's virtual asset investigation division, sending out fraudulent emails demanding sensitive financial data. The emails, which were sent on the 18th, appeared to be legitimate, complete with the FSC's official email domain and a forged signature from the impersonated official.

The scammers claimed that the data requests were in connection with ongoing investigations into unfair trading practices in the cryptocurrency market. To make the emails seem more authentic, the criminals even used the same business card template as the FSC.

"This is a serious matter, and we urge everyone to be extremely vigilant," said an FSC spokesperson. "If you receive an unsolicited email from someone claiming to be from the FSC, do not click on any links or open any attachments. Instead, verify the sender's identity through official channels."

The FSC has advised victims to report any suspicious emails to the authorities immediately. The agency is also working with internet service providers and cybersecurity firms to track down the perpetrators and prevent further attacks.