South Korea probed 40 cases of crypto manipulation over 2 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.

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 of them reported or referred to investigative agencies, identifying 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).

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