• 34ºc, Sunny

The South Korean Financial Supervisory Authority has launched an investigation into Coinone over the rise and fall of the Movement token

On December 12, according to South Korean media MTN, the Financial Supervisory Authority said on Wednesday that the Virtual Asset Investigation Bureau will interview Coinone officials to determine the circumstances surrounding the rapid price fluctuations of the Movement token shortly after its listing. The investigation will examine whether there was unfair trading and whether Coinone's internal monitoring system was functioning properly. In addition, the reason why Coinone listed the coin earlier than other exchanges when liquidity may be insufficient will also be the focus of the investigation.