South Korean Crypto Exchange Coinbit Seized for $84 M in Wash Trade Allegations
South Korea cryptocurrency exchange Coinbit seized by police for allegedly making false transactions to obtain 100 billion won ($84m). As per the report from Seoul Shinmun, South Korea’s oldest newspaper, police accused Coinbit Owner Choi Mo and other managers for handling multiple accounts, controlling cryptocurrency prices, and raising transaction volume.
August 29, 2020
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