South Korea arrests Bitsonic CEO for allegedly stealing $7.5M of users’ money By Cointelegraph
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According to South Korean news outlet Chosun Biz, Jinwook Shin, the CEO of crypto exchange Bitsonic — who is under investigation for stealing investments and deposits from exchange users — was arrested by South Korean police on Aug.7. The vice president of Bitsonic will also be put on trial without preliminary detention.
According to prosecutors, from January 2019 to May 2021, Shin allegedly falsely manipulated the prices and trading volume of cryptocurrency on Bitsonic, stealing the equivalent of 10 billion won ($7.5 million) from exchange users.
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According to South Korean news outlet Chosun Biz, Jinwook Shin, the CEO of crypto exchange Bitsonic — who is under investigation for stealing investments and deposits from exchange users — was arrested by South Korean police on Aug.7. The vice president of Bitsonic will also be put on trial without preliminary detention.
According to prosecutors, from January 2019 to May 2021, Shin allegedly falsely manipulated the prices and trading volume of cryptocurrency on Bitsonic, stealing the equivalent of 10 billion won ($7.5 million) from exchange users.
Continue Reading on Coin Telegraph
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