South Korean Police Seize Coinbit Crypto Exchange Over $84

South Korean Crypto Exchange Coinbit Seized Over Allegations of Massive Wash Trading

Coinbit, South Korea’s third-largest cryptocurrency exchange, has reportedly been seized by police over allegations it faked most of its trading volume.
submitted by ami_nil1987 to airdropfactory [link] [comments]

Police seize South Korean crypto exchange Coinbit for allegedly inflating trading volumes

Police seize South Korean crypto exchange Coinbit for allegedly inflating trading volumes submitted by a36 to AllThingsCrypto [link] [comments]

Police seize South Korean crypto exchange Coinbit for allegedly inflating trading volumes

Police seize South Korean crypto exchange Coinbit for allegedly inflating trading volumes submitted by TunesMedia to maxbit [link] [comments]

South Korean Crypto Exchange Coinbit Seized Over Allegations of Massive Wash Trading

Coinbit, South Korea’s third-largest cryptocurrency exchange, has reportedly been seized by police over allegations it faked most of its trading volume.
submitted by ami_nil1987 to DigitalCryptoWorld [link] [comments]

South Korean Crypto Exchange Coinbit Seized Over Allegations of Massive Wash Trading

South Korean Crypto Exchange Coinbit Seized Over Allegations of Massive Wash Trading


Image: Ciaran O'Brien - Unsplash
Coinbit, South Korea’s third-largest cryptocurrency exchange, has reportedly been seized by police over allegations it faked most of its trading volume.
According to a report from Seoul Newspaper on Tuesday, local police raided and confiscated the company's Gangnam headquarters and other premises.
Accused of fraud, the firm's owner, Choi Mo, and other managers are said to have artificially inflated volumes on the exchange by using "ghost" accounts to make fake trades, a practice known as wash trading.
In its report, Seoul Newspaper said it had been informed by insiders of corruption at Coinbit months ago and that up to 99% of trading volume was "manipulated" on the platform.
Police allege wash trading at Coinbit had produced over 100 billion won ($84 million) in faked income.
The newspaper said it had put off reporting its findings until the raids at the request of the Investigation Department of the Seoul Metropolitan Government.
An accounting firm had reportedly refused to work with the firm after viewing its books.
Seoul Newspaper said it had seen the books and that 99% of recorded trades could not be associated with deposits or withdrawals.
Originally published by Daniel Palmer | August 26, 2020 coindesk
submitted by kjonesatjaagnet to JAAGNet [link] [comments]

South Korean Crypto Exchange Coinbit Seized Over Wash Trading Allegations

South Korean Crypto Exchange Coinbit Seized Over Wash Trading Allegations submitted by TunesMedia to maxbit [link] [comments]

South Korean Crypto Exchange Coinbit Seized Over Allegations of Massive Wash Trading

South Korean Crypto Exchange Coinbit Seized Over Allegations of Massive Wash Trading submitted by a36 to AllThingsCrypto [link] [comments]

South Korean Crypto Exchange Coinbit Seized Over Allegations of Massive Wash Trading

South Korean Crypto Exchange Coinbit Seized Over Allegations of Massive Wash Trading submitted by kjonesatjaagnet to cryptocurrencyscams [link] [comments]

DSLA Listing Announcement: DSLA/USDT to debut on South Korean crypto exchange on June 30

DSLA Listing Announcement: DSLA/USDT to debut on South Korean crypto exchange on June 30 submitted by WilhemPujar to Stacktical [link] [comments]

South Korean Crypto Exchange Is First to List Kakao’s Token

South Korean Crypto Exchange Is First to List Kakao’s Token submitted by InTheKnow_2016 to mrcryptolive [link] [comments]

South Korean Crypto Exchange Is First to List Kakao’s Token

South Korean Crypto Exchange Is First to List Kakao’s Token submitted by Ranzware to BitNewsLive [link] [comments]

South Korean Crypto Exchange Is First to List Kakao’s Token

South Korean Crypto Exchange Is First to List Kakao’s Token submitted by a36 to AllThingsCrypto [link] [comments]

South Korean Crypto Exchange Is First to List Kakao’s Token

South Korean Crypto Exchange Is First to List Kakao’s Token submitted by raaner12 to Altcoinss [link] [comments]

South Korean Crypto Exchanges Aid Police in Child Porn Investigation. The police also revealed that over 10,000 people used the Telegram chatrooms, with some paying over $1,200 in crypto for gaining access.

South Korean Crypto Exchanges Aid Police in Child Porn Investigation. The police also revealed that over 10,000 people used the Telegram chatrooms, with some paying over $1,200 in crypto for gaining access. submitted by olahdonat3 to CryptoMarkets [link] [comments]

South Korean crypto exchange UPbit gets hacked; loses nearly $50M worth of ether

South Korean crypto exchange UPbit gets hacked; loses nearly $50M worth of ether submitted by ShakeelShaik to hacking [link] [comments]

Major South Korean Crypto Exchanges Help Police in Child Porn Investigation

Major South Korean Crypto Exchanges Help Police in Child Porn Investigation submitted by Ranzware to BitNewsLive [link] [comments]

South Korean Crypto Exchanges Aid Police in Child Porn Investigation

South Korean Crypto Exchanges Aid Police in Child Porn Investigation submitted by n4bb to CoinPath [link] [comments]

Major South Korean Crypto Exchanges Help Police In Child Porn Investigation

Major South Korean Crypto Exchanges Help Police In Child Porn Investigation submitted by a36 to AllThingsCrypto [link] [comments]

Binance Launches Binance KR, First South Korean Crypto-Exchange on Binance Cloud

Binance Launches Binance KR, First South Korean Crypto-Exchange on Binance Cloud submitted by paulemmanuelng to Crypto_Currency_News [link] [comments]

South Korean Crypto Exchanges Aid Police in Child Porn Investigation

South Korean Crypto Exchanges Aid Police in Child Porn Investigation submitted by Ranzware to BitNewsLive [link] [comments]

South Korean Crypto Exchanges Ready Compliance Measures as Clock Ticks

South Korean Crypto Exchanges Ready Compliance Measures as Clock Ticks submitted by bitcointothemoon_ to Crypto_Currency_News [link] [comments]

South Korean Crypto Exchanges Ready Compliance Measures as Clock Ticks

South Korean Crypto Exchanges Ready Compliance Measures as Clock Ticks submitted by bitcointothemoon_ to CryptoCurrencyTrading [link] [comments]

Police seize South Korean crypto exchange Coinbit for ... South Korean Exchanges Turn Up the Crypto Resurgence in South Korea & Icon ICX 2020 Update Industry ‘Under Threat’ as South Korean Police Raid Crypto ... #KCN: Binance is entering the South Korean market

One of Korea's largest cryptocurrency exchange is under investigation after the Seoul Metropolitan Police found evidence of wash trading of over 99% of its volumes. According to local reports fro South Korean Crypto Exchange Coinbit Seized Over Allegations of Massive Wash Trading Aug 26, 2020 at 09:35 UTC Updated Aug 26, 2020 at 13:53 UTC Gangnam, Seoul (CJ Nattanai/Shutterstock) Korean cryptocurrency exchanges are still going strong despite facing opposition from the Korean government and banks. Korea still remains one of the top cryptocurrency trade exchange markets. South Korea has become a hub for cryptocurrency exchanges over the past few years. When you add in the fact that the Korean government has embraced Blockchain technology and are looking to support the South Korean police have reportedly seized local crypto exchange Coinbit for allegedly inflating trading volumes. According to the Seoul Shinmun, report, crypto exchange Coinbit’s offices have been raided for the alleged fraud by authorities. The crypto exchange is being accused of using multiple “ghost accounts” to inflate trading volumes. Police in South Korea has seized Coinbit, the third-largest cryptocurrency exchange in the country, over allegations of wash trading activity, amounting to over 100 billion WON ($84 million) in faked income. A local newspaper in Seoul reported Wednesday that the Seoul Metropolitan Police Agency’s Metropolitan Investigate Department raided and confiscated Coinbit’s headquarters in Gangnam

[index] [36] [49] [131] [123] [210] [146] [15] [163] [237] [274]

Police seize South Korean crypto exchange Coinbit for ...

More restrictive anti-money laundering (AML) compliance measures could be incoming for South Korean crypto exchanges after a lawmaker lodged a private member’s bill in the National Assembly. In what has been a torrid week for South Korean crypto exchanges, the CEO and the executive director of a legitimate-looking trading platform have been sent ... Police in South Korea have raided the offices of Coinbit, a South Korean crypto exchange, under suspicion of widespread market manipulation. The exchange was... Two of South Korea's largest crypto exchanges by volume, Bithumb and UpBit, have begun suspending, flagging and even delisting many cryptocurrencies, complete with investment warnings now alerting ... The South Korea-based CEO and executive director of a bogus crypto exchange have been jailed by a branch of the Supreme Court in Seoul for their roles in fra...

#