Gate News reports that on March 7, the Korea Consumer Agency’s Consumer Dispute Mediation Committee decided to initiate a collective dispute mediation process related to the distribution of subsidies for API linkage activities for a certain CEX. It is reported that the exchange launched an event last November, promising to refund all trading fees for users who first used the API (Application Programming Interface) for trading, and providing an API linkage subsidy of 100,000 KRW. However, after the initial announcement, the platform added a note excluding “one-time transactions solely for receiving event benefits” and refused to distribute subsidies to some consumers. The Consumer Affairs Bureau discovered this situation through the “Consumer Damage Incident Detection System” and collected 77 consumers, who applied to the committee for collective dispute mediation in January this year. On March 5, the committee decided to start the mediation process and will publish a notice of the initiation of collective dispute mediation by the 23rd, beginning to formulate a mediation plan.
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