ChainCatcher news, according to South Korean media MTN, the Financial Supervisory Service of South Korea has launched an investigation into the exchange Coinone, focusing on the abnormal situation of the Movement token's price skyrocketing shortly after its listing and then plummeting sharply.The investigation will verify whether there is unfair trading and check if Coinone's internal monitoring system is functioning properly. In addition, the reasons for Coinone listing the token ahead of other exchanges in a situation where liquidity may be insufficient will also be a key focus of the investigation.Officials stated that if abnormalities are found, proactive measures will be taken.

ChainCatcher news, according to @ai_9684xtpa's analysis, the MOVE token has shown significant price discrepancies on Korean exchanges. Originally, Upbit and Bithumb planned to launch MOVE simultaneously at 8 PM last night, but the Korean exchange Coinone launched it early at 7:30 PM, with an opening price of 998,500 KRW (approximately 700 USD). As a result, the two major Korean exchanges delayed their launch times, with Upbit starting trading at 09:35 this morning, opening at 2,263 KRW (approximately 1.59 USD), and currently trading at 3,060 KRW (approximately 2.2 USD).Currently, there are noticeable price differences for MOVE across different platforms: Binance quotes 0.94 USD, Uniswap quotes 1.93 USD, and Upbit quotes 2.2 USD, indicating that many institutions and smart money are likely engaging in arbitrage.

ChainCatcher news, according to iNews24, starting next year, virtual asset service providers in South Korea, including Dunamu (Upbit), Bithumb, and Coinone, will be required to pay regulatory fees.This decision was made after the State Council approved the amendment to the enforcement decree of the Financial Services Commission (FSC) on December 3. The regulatory fees are calculated based on operating revenue and are to be paid by financial institutions such as banks, investment companies, and insurance companies to cover the FSC's inspection and supervision services.

ChainCatcher news, according to IT Chosun, the CEO of the South Korean cryptocurrency exchange Coinone, Cha Myung-hun, has denied rumors that he is negotiating with the gaming company Com2uS Holdings to sell a portion of the company's shares.As of last year, Cha held a total of 53.46% of Coinone's shares through his personal company The One Group and personal holdings. Although there were previous speculations that if the deal went through, Com2uS would become the largest shareholder of Coinone, representatives from both companies have denied these rumors.Previous news, the CEO of the South Korean cryptocurrency exchange Coinone, Myung-hoon Cha, is in negotiations with the mid-sized gaming company Com2uS Holdings regarding the sale of company shares.

ChainCatcher news, Myung-hoon Cha, the CEO of the South Korean cryptocurrency exchange Coinone, is in negotiations with the medium-sized gaming company Com2uS Holdings to sell shares of the company.As of the end of last year, Myung-hoon Cha held a total of 53.46% of the shares, which includes his stake in the private company The One Group (34.31%) and his personal holdings (19.15%). Com2uS Holdings holds 21.95%, while Com2uS Plus holds 16.47%. Com2uS Plus is a 100% subsidiary of Com2uS Holdings. Through this share acquisition, Com2uS Holdings is expected to become the largest shareholder of Coinone.In addition, Coinone CEO Myung-hoon Cha has informed Com2uS Holdings that he will resign from his position as head of Coinone.

ChainCatcher news, with the implementation of South Korea's "Virtual Asset User Protection Act," virtual asset service providers such as Upbit, Bithumb, and Coinone will also begin to pay regulatory fees. The regulatory fees are levied based on operating revenue, with a total expected to be 300 million KRW (220,000 USD).The regulatory burden fees for virtual asset service providers will be calculated based on the operating revenue of the previous business year and the burden rate. According to the burden rate for 2024, Upbit's fee is approximately 272 million KRW (199,000 USD), Bithumb around 36.5 million KRW. Coinone and Gopax are 6.03 million KRW and 830,000 KRW, respectively. Korbit, which had an operating revenue of about 1.7 billion KRW last year, is not subject to the regulatory burden fees. The actual collection of regulatory burden fees will begin next year.It is reported that the "regulatory fee" is a quasi-tax paid by financial institutions, such as financial companies, that are subject to inspections by the Financial Supervisory Service, in exchange for regulation and services. Enterprises with operating revenues exceeding 3 billion KRW (2.2 million USD) will be subject to this fee.

ChainCatcher message, according to on-chain analyst @ai_9684xtpa monitoring, the new address 0x9d9...Eb2d6 has transferred 52.75 billion SHIB from the South Korean exchange Coinone in the past 45 minutes, worth 9.13 million dollars, with an average transfer price of 0.00001731 dollars.

ChainCatcher news, according to Digital Asset, the South Korean Supreme Court upheld the verdict against two former Coinone executives who accepted bribes for listing certain cryptocurrencies on the exchange.On June 13, the court dismissed an appeal from one former executive who was sentenced to receive approximately 1.9 billion won (1.38 million USD) in bribes for listing certain virtual assets on Coinone. The executive will serve four years in prison and must forfeit the 1.9 billion won in bribe money received. Similarly, the court rejected the appeal of another former manager responsible for listings at Coinone. This individual was sentenced to receive 800 million won in bribes and was sentenced to three and a half years in prison. The manager must also return the 800 million won obtained through bribery.

ChainCatcher news, according to Digital Asset, on February 28, the digital asset market trading volume of South Korea's five major Korean won cryptocurrency exchanges exceeded 8 trillion won (approximately 5.9 billion USD), doubling from about 4.417 trillion won on February 26.It is reported that among these exchanges, Coinone had the largest increase in trading volume, rising from 50.8 billion won to 129.5 billion won in two days, an increase of 155%; followed by Upbit, which saw a 126% increase in trading volume over two days, Bithumb increased by 64%, while Corbit and Gopax experienced declines in trading volume of 72% and 92%, respectively.

ChainCatcher news, according to Lookonchain monitoring, DWF Labs deposited 800,000 ORBS (approximately $21,000) to Coinone 15 minutes ago. In the past 2 days, DWF Labs has deposited a total of 1.9 million ORBS (approximately $48,000) to Coinone.Currently, DWF Labs holds 138 million ORBS (approximately $3.48 million).

ChainCatcher news, according to a statement released by the Financial Services Commission (FSC) of South Korea, the financial intelligence unit of South Korea held a meeting with virtual asset service providers (VASP) to strengthen regulatory compliance. The top five cryptocurrency exchanges in South Korea (including Upbit, Bithumb, Coinone, Korbit, and Gopax) have established compliance systems to monitor illegal activities.The meeting revealed that Upbit has created an anomaly trading detection system using artificial intelligence (AI). Bithumb has developed a feature that automatically terminates the trading application when a remote control application is installed and money laundering transactions are detected. Coinone has strengthened the management and monitoring of "risk wallet addresses" related to financial incidents. Korbit has introduced a real-time management system and a secondary review system for each stage of suspicious transaction reports (STR). Gopax has set up a hotline that can respond immediately when it receives account freeze requests related to crimes such as voice phishing.Through a collective commitment, the participants pledged to strengthen joint dialogue around enhancing compliance capabilities. They plan to hold meetings every 2-3 months in the future to maintain this commitment.

ChainCatcher news, according to CoinDesk, Coinone's listing team leader Kim Mo and broker Hwang Mo have been arrested. Reports indicate that Hwang paid Kim and Coinone's former listing manager "Mr. Jeon" 2 billion won (1.51 million USD) in exchange for listing certain tokens. (Source link)

ChainCatcher news, according to South Korean media Money Today, the Seoul Southern District Prosecutor's Office's First Financial Investigation Division has indicted former Coinone executive Jeon on charges of corruption, and will conduct a pre-arrest interrogation of the suspect on the morning of the 10th.Jeon is accused of accepting bribes from virtual currency brokers Go and Hwang Aunt between 2020 and 2021 in exchange for listing "Kimchi Coin." One of the tokens suspected of bribing Jeon for the listing, P Coin, recently appeared in the kidnapping and murder case in Gangnam, Seoul. P Coin was created in 2020, and the main perpetrator, mastermind, and victim of the Gangnam kidnapping and murder case are all investors in P Coin. (source link)

ChainCatcher news, according to Yonhap News Agency, South Korean gaming giant WeMade has withdrawn all lawsuits against the digital asset trading platform under the joint consulting organization (DAXA) for violating the delisting regulations of the virtual currency WEMIX. According to legal sources cited by Yonhap, WeMade submitted a notice of withdrawal to the Seoul Central District Court against Upbit, Bithumb Korea, Coinone, and Korbit.In December 2022, the Seoul Central District Court rejected the temporary injunction application filed by WeMade's subsidiary Wemix PTE regarding the delisting of the WEMIX Token by crypto trading platforms such as Upbit. However, WeMade expressed dissatisfaction with the court's ruling and subsequently appealed, until today when they withdrew the lawsuit. (Source link)

ChainCatcher news, WeMade token WEMIX has been approved for relisting on the South Korean cryptocurrency exchange Coinone.Previously reported, on November 24, 2022, due to the call from the Korea Digital Asset Exchange Association (DAXA) to halt trading support for WeMade token WEMIX to protect investors, several South Korean exchanges including Bithumb, Upbit, Coinone, and Korbit announced the delisting of WEMIX. (source link)

ChainCatcher news, KakaoBank's Chief Strategy Officer (CSO) Kim Seok recently stated: "KakaoBank is in talks to provide verified real-name deposit and withdrawal account services to Coinone customers in November, in order to provide stability and convenience for virtual asset trading. Coinone users will be able to access through KakaoBank accounts.KakaoBank is an online bank in South Korea with nearly 20 million users, and Coinone is one of the top five cryptocurrency exchanges in South Korea. The two companies announced their partnership in August. (Forkast)

Chain Catcher news, the DAXA alliance formed by South Korea's five major cryptocurrency exchanges (Upbit, Bithumb, Coinone, Korbit, and Gopax) plans to support the Ethereum hard fork. DAXA has decided to collaborate on the listing and delisting standards for the hard fork tokens. As of now, the five exchanges have not released any announcements. (Source link)