Image: Coinone, Envato Elements

A former worker at Coinone, one in every 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’ Office stated. 

See associated article: Bithumb executive faces investigation over alleged bribery in South Korean crypto listing

Fast details

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

See associated article: South Korea reports US$4.3 billion in illegal foreign transactions involving cryptocurrencies