South Koreans Bail on Crypto as Retail Traders Bemoan Losses

On a South Korean social-media platform last month, an anonymous trader vented their frustration about the crypto crash that began in October last year.

“I lost my entire fortune and got divorced,” said the person, whose bets on Bitcoin futures cost them about $60,000.

Such posts are becoming common across Korean forums, where traders regularly share screenshots of losses on crypto accounts. It’s a striking reversal in a country that was early to embrace Bitcoin, Ether and other digital coins — often in favor of traditional assets like stocks.

The retreat may also pose challenges for President Lee Jae Myung ...