$7.5 Million Crypto Fraud

Two executives from the Bitsonic cryptocurrency exchange in South Korea were found sentenced of fraud, resulting in $7.5 million in losses.

Bitsonic’s CEO, Jinwook Shin, faces a seven-year prison

Mr. A, the vice president of technology at Bitsonic, receives a one-year jail sentence for his involvement in fraudulent activities.

Fill in Jinwook Shin’s fraudulent activities included manipulating transaction volumes on Bitsonic by using the exchange’s funds to buy its token, artificially inflating its price from January 2019 to May 2021. text

South Korea has tightened regulations in response to such incidents, aiming to protect investors and all people

Protect your fund and do the research about Cryptocurrency exchange and crypto before investing