Report: South Korean authorities charge Coinbit executives with market manipulation

Police authorities in Seoul have reportedly brought charges against crypto exchange Coinbit’s chairman and two unnamed executives, according to the South Korean news company Newspim

The country’s prosecutors are preparing a case against the executives, claiming they engaged in market manipulation. From August 2019 to May 2020, police allege the executives used a ghost account to blow up transaction volume and alter coin prices, per the report.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy