Investors in JPYC, a stablecoin (digital token designed to track a reference value) linked to the Japanese yen, faced sharp price distortions after the token was listed on South Korean exchange Upbit. Data submitted by Upbit to Rep. Park Min-gyu of the Democratic Party of Korea, a member of the National Policy Committee of the National Assembly, shows that during the five days from the 17th through the 21st, 21,219 unique investors bought JPYC at prices more than 10% above the won-yen exchange rate. Their purchases totaled 259.8552 billion Korean won, covering 1.276066 billion JPYC. Among them, 2,574 investors bought at prices more than 300% above the reference price, spending 8.2634 billion Korean won for 226.93 million units. Another 11,449 investors purchased 85.42 billion Korean won worth at prices 200% to 300% above the reference price, while 13,728 investors bought 105.8628 billion Korean won worth at prices 100% to 200% higher. Counts across price bands may include repeat investors. As of the 21st, 3,792 investors still held JPYC, with an estimated average loss of 1.3255 million Korean won per person and a simple-summation total of about 5.03 billion Korean won. Meanwhile, 7,006 investors, or about 33% of all investors, sold at a profit averaging 453,687 Korean won. Because realized-loss data was not disclosed, the overall loss remains unconfirmed.