Law enforcement agencies of South Korea began investigation of bribery in exchange for the listing of cryptocurrencies on the stock exchange Coinnest.
It clarifies Bitcoin.com the case was filed by the Seoul Prosecutor's office against two top managers of the trading platform. The suspects turned out to be CEO exchange Kim IK-hwan and the Director of the exchange, Ku Th. According to law enforcement, these two leaders allegedly received a bribe from the Director of one of the companies who wanted to place their cryptocurrency on the platform Coinnest.
Local media called this coin's Coin. Top managers received bribes totaling up to 1 billion won, or approximately $890 000. Funds were granted to Directors mainly in bitcoin. The prosecution also brought against the head of the company that bribed representatives Coinnest in February of this year.
In addition to bitcoins stock exchange Director received a bribe in tokens S-Coin worth up to $125 500. The Prosecutor said that when you add in listing Coinnest S coin-Coin was not carried out any procedures to verify the reliability of this project, although this should always be done.
We will remind, earlier it was reported that South Korean banks plan to sharply limit the service of cryptocurrency traders that have not been fully identified. This will minimize the risk of fraudulent transactions.
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