Prosecutors Raid Bithumb Office... Allegations of Fraudulent Trading in 'Kimchi Coin'
[Asia Economy Reporter Seoyul Hwang] The prosecution has launched a search and seizure operation at the cryptocurrency exchange Bithumb in connection with allegations of fraudulent trading involving so-called 'Kimchi coins,' cryptocurrencies issued by domestic companies.
On the 26th, the Financial Investigation Division 1 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Seunghyung Lee) conducted a search and seizure at the cryptocurrency exchange 'Bithumb' located in Gangnam-gu, Seoul.
The prosecution is reported to have detected suspicions of fraudulent trading during the listing and trading process of Kimchi coins issued by domestic companies, such as GoMoney2 and PixelCoin.
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In addition to Upbit and Bithumb, where these coins are listed, there is also a possibility that Coinone and Upbit will be subject to search and seizure operations.
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