South Korea arrests former Coinone trade official for alleged crypto-listing bribery

A former worker at Coinone, considered one of South Korea’s high 5 cryptocurrency exchanges, was arrested Tuesday on fees of accepting bribes in trade for itemizing sure cryptocurrencies on the platform in 2020, the Seoul Southern District Prosecutors’ Workplace stated.

Quick information

• The previous worker, recognized solely by the household identify Jeon, acquired 1.9 billion Korean received (US$1.47 million) from a dealer for itemizing a sure cryptocurrency on Coinone buying and selling platform, in response to native media studies. The prosecutors’ workplace confirmed the arrest with Forkast, however declined to disclose Jeon’s full identify on account of privateness guidelines.
• Seoul prosecutors are additionally investigating Lee Sang-jun, the chief government officer of the holding firm of Bithumb, the nation’s second largest cryptocurrency trade, on comparable allegations. The prosecutors instructed Forkast they haven’t but requested an arrest warrant for Lee.
• A spokesperson for the Seoul Southern District Prosecutors’ Workplace stated the investigation might increase to cowl different native crypto exchanges.
• Forkast contacted Coinone for touch upon the arrest Thursday morning and has but to obtain a response.