Korean authorities arrested for suspected bribes (report)

Korean authorities arrested for suspected bribes (report)

Kim Ji-Sok-Supreme Court at the southern district court of Seoul-reports reported an arrest warrant against Kim Mo (head of the Coinone Coloring team), the COTAGING MACHER HWANG MO and other executives of the stock exchange.

Prosecutors claimed that they received bribes in billions in order to list certain cryptocurrencies on the platform.

More drama in South Korea

reported as According to local media, the South Korean authorities have arrested several employees of Coinone (one of the leading crypto exchanges in the country). Among the alleged criminals were Kim Mo (head of the company's listing team) and Hwang Mo (a Listing broker).

According to the judges, Kim violated the concealment of criminal proceeds control act and a breach of confidence by pushing up a bribe worth one billion won (almost $ 760,000) from HWANG to list digital currencies like Pica on the platform. He reported that he had received the sum.

Hwang in turn was charged for infidelity. He bribed Kim and other executives of Coinone and jointly distributed 2 billion WON (approx. $ 1.5 million).

The cryptocurrency exchange is one of the largest in the East Asian country. The local regulatory authorities asked the South Korean platforms to adhere to stricter rules in 2021, and Coinone was one of the few who have completed the registration guidelines.

The country was in the spotlight at the beginning of this week for another reason: the hacker attack on the cryptoplatt form GDAC. As cryptopotato reported cybercriminals have violated its security and deducted digital currencies worth over $ 13 million (23 % of its entire custodian.

GDAC took immediate measures and blocked deposits and withdrawals. It also reported the problem to the responsible law enforcement authorities and asked competing companies for help in the worrying situation.

The do-Kweon saga

The domestic authorities seem to be much more determined to combat crime in the cryptocurrency sector after the South Korean co-founder of Terraform Labs-Thu Kwon-was allegedly shortly after the collapse of Luna/Ust.

Several failed investors and agencies accused the 31-year-old developer of being the main culprit behind the undesirable event, and insisted that he was put on trial for his actions. However, he hesitated to cooperate and began to hide in various places around the world, including Dubai, Singapore, Russia and Mauritius Possible travel destinations.

The notification when arriving prServer-spaces = "true"> spaserver-spaces = "true"> The participation of the South Korean Ministry of Justice and Interpol seemed inapable remained unknown for months.

Some sources indicated in December last year that he could hide Serbia in Balkans. Kwon's arrest finally happens in March at Podgorica Airport (capital Montenegros and western neighboring Serbia).

American prosecutors quickly reacted charge it with securities fraud and conspiracy after the detention.

It remains unclear whether Kwon will be brought to trial in his homeland or in the United States. However, the Montenegrin law requires that it has to spend at least 30 days in a local facility since he was arrested.

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