Former Coinone exchange official arrested in South Korea on suspicion of accepting bribes to list cryptocurrency

News Desk4
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According to reports that were published in the regional media, a former employee who was only identified by the family name Jeon was said to have received 1.9 billion Korean won (approximately $1.47 million) from a broker as payment for listing a specific cryptocurrency on the Coinone trading platform. This payment was reportedly made in exchange for listing the cryptocurrency on the Coinone trading platform. This payment was allegedly made in exchange for the cryptocurrency being included on the list, as stated in the allegations. Forkast was informed by the prosecutor’s office that Jeon had been taken into custody; however, in accordance with privacy regulations, the office did not disclose Jeon’s full name. The prosecutor’s office confirmed this information to Forkast. Forkast received confirmation that Jeon had been taken into custody and was informed of this development.

Lee Sang-jun, the chief executive officer of the holding company of Bithumb, which is the nation’s second largest cryptocurrency exchange, is the subject of a separate investigation that is being carried out by prosecutors in Seoul. This investigation is looking into allegations that Lee Sang-jun engaged in illegal activity related to the exchange of virtual currencies. The prosecutors who are looking into these allegations right now are looking into allegations that are comparable to the allegations that were discussed earlier on in this conversation. The prosecutors have disclosed to Forkast that they have not yet made a request for a warrant to arrest Lee. This information was provided to Forkast by the prosecutors. Forkast was provided with this information after it was made public. This information has been made available to Forkast.

A representative from the Prosecutor’s Office for the Southern District of Seoul stated that there is a possibility that the investigation will be expanded to include other local cryptocurrency exchanges. This information was provided in response to a question about the possibility of the investigation being expanded. It was the representative who provided us with this information and shared it with us.

Forkast attempted to get in touch with Coinone on Thursday morning so that he could get his take on the arrest; however, he has not yet received a response to his inquiry regarding Coinone’s whereabouts at this time. Despite these efforts, Forkast does not yet know where Coinone is.

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