The South Korean prosecution has accused Bitsonic CEO of allegedly stealing 10 billion won in user assets

2023-08-08 14:48:33

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ChainCatcher news, the South Korean prosecution has charged the CEO of the cryptocurrency trading platform Bitsonic with embezzling 10 billion won (approximately 7.6 million USD) in investment funds and margin, and arrested and prosecuted him on August 7. Additionally, the prosecution has charged the Vice President of Technology at Bitsonic with obstruction of justice and has referred him for trial.

According to the prosecution's investigation, the CEO of Bitsonic falsely manipulated computers from January 2019 to May 2021 to inflate the prices and trading volumes of virtual assets, and concealed the facts when unable to meet investors' withdrawal requests due to losses, transferring 10 billion won in cash and virtual assets by selling cryptocurrency locking products to other clients.

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