Prosecutors Seizure Virtual Asset Act No. 1 Fast Track Case

The Seoul Southern District Prosecutors' Office's virtual asset crime unit raided seven places, including the residence and office of a man in his 30s, accused of manipulating the market price of billions of coins, for two days from the 30th of last month.

Mr. A is accused of stealing billions of won by artificially changing the market price and trading volume using a program that repeatedly executes orders and cancellations to sell his virtual assets at a high price.

The Financial Supervisory Service completed the investigation two months after receiving the notice of the abnormal transaction, and on the 25th of last month, it took the fast-track procedure for the first time since the enforcement of the Virtual Asset User Protection Act and handed the case over to the prosecution.