The Seoul Southern District Prosecutor’s Office has apprehended a former staff member of the Coinone cryptocurrency exchange on allegations of receiving bribes in exchange for featuring specific digital assets on the platform.
Recent reports from South Korean media suggest that the said ex-employee, Jeon, received a whopping 1.9 billion Korean won (approximately $1.47 million) from a broker for listing Pica Coin on the Coinone trading platform.
Although the prosecutor’s office confirmed the arrest, they refrained from disclosing any further information or the detainee’s complete name for the sake of the ongoing investigation.
Coinone is a proud member of DAXA, the collective advisory body of the top five South Korean exchanges.
DAXA’s leadership announced that they plan to strengthen the listing requirements for digital assets. Starting April 1, the listing process will include legal risk assessment specialists, such as legal professionals and compliance experts.
In January, the Seoul prosecutors conducted a search and seizure operation on the Bithumb crypto exchange, suspecting price fraud regarding “Kimchi Coins” crypto assets, namely Go Money 2 and Pixel Coin, issued by local firms.