[gpt3] a new article in English that is SEO-optimized and incorporates as many relevant keywords as possible. The article should be based on the information provided in the existing post content. Additionally, please include a dedicated FAQ section and a conclusion section to enhance the reader's experience
South Korea's crypto traders were burned by rampant fraud in the digital assets space, prompting the country's regulators to aim at reining in the largely underregulated space. In 2022, South Korean crypto entrepreneur Do Kwon's Terra-Luna ecosystem collapsed, precipitating a $40 billion crypto market crash.