ChainCatcher news, according to Newsis, the head of the Financial Supervisory Service of South Korea, Lee Bok-hyun, stated at the National Assembly's Political Affairs Committee's national inspection meeting that they are investigating abnormal transactions of various cryptocurrencies, including suspicious trading activities of the AVAIL token on the Bithumb exchange. He also mentioned that the financial regulatory authorities are continuously improving the abnormal transaction detection system and handling multiple related investigation cases to enhance market confidence.It is reported that the AVAIL token was listed on Bithumb on July 23, 2024, with an initial price of 236 KRW. Within 15 minutes of its listing, its price surged over 1300%, but it fell back to around 200 KRW in less than 24 hours, raising market concerns about price manipulation.Democratic Party lawmaker Min Byeong-deok pointed out that the AVAIL token incident exposed flaws in Bithumb's abnormal transaction monitoring system. He revealed that Bithumb had stated that only transactions exceeding 5% of the total issuance would be considered abnormal transactions, a standard that clearly failed to effectively prevent such incidents.Director Lee Bok-hyun promised that the Financial Supervisory Service will continue to monitor and investigate various suspicious cryptocurrency trading activities, striving to enhance market transparency and investor protection.Previous news, South Korean lawmakers have requested access to abnormal trading data of AVAIL on Bithumb and are investigating potential price manipulation.

ChainCatcher news, South Korean lawmaker Min Byoung-dug plans to criticize AVAIL as the second "Hamburger Coin" that raises questions during the parliamentary audit. Note: Hamburger Coin is a virtual asset issued overseas and traded domestically in South Korea, while the local one is Kimchi Coin.The lawmaker has requested data on abnormal trading of AVAIL on Bithumb and is investigating its sudden surge upon listing, potential price manipulation, and the effectiveness of customer protection measures at the exchange.The Financial Supervisory Service, which is investigating this incident, declined to comment and stated: "Mentioning specific tokens or the progress of the investigation may affect market prices, so the principle is that the case is handled and disclosed thoroughly."