South Korea · Cointelegraph
South Korea probed 40 cases of crypto manipulation over 2 years
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Financial Services Commission Chair Lee Eog-won posted the figures on the second anniversary of the enactment of the Virtual Asset User Protection Act.
Key facts
- According to an X post by Financial Services Commission Chair Lee Eog-won, 30 cases were reported to or referred to investigative agencies, which identified 25 suspects since the Virtual Asset User
- Lee said the average unlawful gains were around 1.4 billion Korean won ($940,000)
- South Korea’s financial authorities investigated more than 40 cases of unfair trading, including market manipulation and fraudulent crypto trading, in the last two years
- Financial Services Commission Chair Lee Eog-won posted the figures on the second anniversary of the enactment of the Virtual Asset User Protection Act
Summary
South Korea’s financial authorities investigated more than 40 cases of unfair trading, including market manipulation and fraudulent crypto trading, in the last two years. According to an X post by Financial Services Commission Chair Lee Eog-won, 30 cases were reported to or referred to investigative agencies, which identified 25 suspects since the Virtual Asset User Protection Act took effect in July 2024. Lee said the average unlawful gains were around 1.4 billion Korean won ($940,000). “Today marks the second anniversary of the enactment of the ‘Virtual Asset User Protection Act.