Coinone is a South Korean-based exchanger and it is confirmed that employees of this exchanger have been booked for suspicious involvement with the "Fuvriever Coin" listing.
What is the crime here?
At first, it may seem that why someone is booked for listing a virtual asset if the exchanger's whole and sole purpose is to list the coins and trade them.
Well, the coin was listed after the whooping fees of 2 billion WON which if converted to USD comes to $1.5 million.
Now that is a lot of fees just for listing a coin. The coin's owner is "Hwang". The problem is, the stated person is directly involved in the kidnapping and murder of a woman who was an investor in the coin.
This gave rise to millions of concerns regarding such high fees for listing and fleeing away with whatever money that could get generated with the coin listing.
This really as a shock that project owners can go wild on their investors themselves.
This kind of news makes us think, why people are not investing in Bitcoin?
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Employees of South Korean cryptocurrency exchange Coinone have been arrested in connection with exchanging money in return for listing certain crypto assets, CoinDesk Korea reported on Tuesday.
"There is concern about escaping," said Seoul Southern District Court Chief Judge Kim Ji-Sook, who issued a warrant for the arrests on Monday.
Coinone's listing team leader Kim Mo has been accused of violating the Concealment of Criminal Proceeds Act and a breach of trust. Listing broker Hwang Mo was also charged with breach of trust.
According to the report, Hwang paid as much as 2 billion won ($1.51 million) to Kim and Coinone's former director of listing "Mr Jeon" in return for listing certain virtual assets.
Among these cryptocurrencies was "Furiever Coin," a crypto that was listed exclusively on Coinone and that has been linked to a recent kidnapping and murder investigation in the Gangnam district in Seoul. Police suspect that a 48-year old woman may have been abducted and murdered as revenge for a failed investment.
"There is concern about escaping," said Seoul Southern District Court Chief Judge Kim Ji-Sook, who issued a warrant for the arrests on Monday.
Coinone's listing team leader Kim Mo has been accused of violating the Concealment of Criminal Proceeds Act and a breach of trust. Listing broker Hwang Mo was also charged with breach of trust.
According to the report, Hwang paid as much as 2 billion won ($1.51 million) to Kim and Coinone's former director of listing "Mr Jeon" in return for listing certain virtual assets.
Among these cryptocurrencies was "Furiever Coin," a crypto that was listed exclusively on Coinone and that has been linked to a recent kidnapping and murder investigation in the Gangnam district in Seoul. Police suspect that a 48-year old woman may have been abducted and murdered as revenge for a failed investment.
Employees of South Korean Crypto Exchange Coinone Arrested: Report