[wadiz] Transparency Report Vol. 11

01 · Detection

AI Monitoring

AI monitoring identified a project that appeared to provide investment decision-making and stock analysis information to the general public.

02 · Review

Operator Review

We reviewed whether providing information to assist with investment decisions in exchange for compensation constitutes “quasi-investment advisory services” under the Capital Markets Act.

03 · Action

Project Removal

As we determined there was a potential violation, we immediately removed the project from view before it was displayed to supporters.

CASE 01 Detailed Case Study

Although it was marketed as an analysis tool, the service structure was that of a pseudo-investment advisory service.

One project promoted a service that provided stock analysis and investment decision-making information to the general public as a reward. Providing information equivalent to investment advice in exchange for compensation may constitute “quasi-investment advisory services” under the Capital Markets Act, requiring compliance with legal standards such as licensing and reporting requirements. wadiz detected this issue through monitoring before the project was exposed to supporters, determined that it posed a potential violation, and immediately removed the project from view.

Through post-publication monitoring, we identified a project that prominently featured high returns—such as “100 million won per month verified” and “500 million won per year”—and used participants’ experiences in its advertisements to promote the idea that everyone could achieve the same returns. Although there was a small disclaimer at the bottom stating, “This is an individual’s experience, and returns are not guaranteed,” the advertisement as a whole effectively gave the impression that returns were guaranteed.

Expressions that seem to assert or guarantee specific earnings may constitute false or exaggerated advertising under the Act on the Regulation of Display Advertising. wadiz requested that the maker revise these expressions, and the maker has completed the changes.

Through post-campaign monitoring, we confirmed that the phrase “Crazy cooling sensation the moment it touches you” was used in the project’s promotional image. Although not a direct swear word, the expression “crazy” could be perceived as vulgar depending on the context, potentially violating our operating policy’s standards regarding the use of profanity and vulgar language.

Wadiz determined that the expression could be offensive to supporters and requested that the phrase be revised to a non-vulgar alternative, such as “Powerful cooling sensation the moment it touches your skin.” The maker has completed the revision.