The South Korean authorities have not bough the manipulation of the market charges against the country’s executives for the latest digital currency exchanges. As per the local report that has been made, it is found that the charges were more like a follow up to raid the conduct on the exchange made in August. Even the persecutors claim that in the capital of Seoul they are now preparing the case against certain top-notch executives. The news outlet further added that excess face the fees for the forgery of the fraud and record. After the Seoul Metropolitan Police Agency raided the offices of the exchanges the prosecution then came four months.

There was an analysis as well made for the exchange transactions which were reportedly stated that it manipulated to nearly 99% of the total transaction. Further with the report also concluded that the owner of coin bit Choi Mo along with other executives had opened up many accounts which even they used for washing off the trade. It is one kind of market manipulation through which the buying and selling of the same asset are done. This is like an illusion with regard to the high trading of the volume.

Seoul police further claimed that the exchange resulted in the split in which the suer’s funds were noted in the major accounts. The first one was part of the digital currencies. It includes ETH, BTC, and even USDT. Besides, Coinbit also stated that they have used other major accounts for trading out the dubious digital currencies along with the initial exchange offerings. The owner shall then store the dubious tokens in huge amounts. It would eventually create quite a good demand and thus drive the rocketing price so that they shall later dump the tokens to the users while making millions of money for the pump and dumping of the schemes.

Crypto Business World

CBW - External Analyst

INDIA