CryptoMediaClub
Monday, July 7, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Korean Authorities Detained Coinone Leaders on Suspicion of Taking Bribes (Report)

12.04.2023
A A
0
122
VIEWS
ShareShare

Kim Ji-sook – Chief Judge at the Seoul Southern District Court – reportedly issued an arrest warrant for Kim Mo (Coinone listing team leader), listing broker Hwang Mo, and other executives of the exchange.

Prosecutors claimed they had received billions of won in bribes to list certain cryptocurrencies on the platform.

More Drama in South Korea

As reported by local media, the authorities of South Korea detained several employees of Coinone (one of the leading crypto exchanges in the country). Among the alleged criminals were Kim Mo (the company’s listing team leader) and Hwang Mo (a listing broker).

According to the magistrates, Kim violated the Concealment of Criminal Proceeds Control Act and breach of trust by pocketing a bribe worth one billion won (almost $760,000) from Hwang to list digital currencies such as Pica Coin on the platform. He reportedly admitted receiving the sum.

For his part, Hwang was charged with breach of trust. He bribed Kim and other Coinone executives, collectively distributing 2 billion won (approximately $1.5 million).

ADVERTISEMENT

The cryptocurrency exchange is among the biggest in the East Asian country. The local regulators required South Korean platforms to abide by stricter rules in 2021, and Coinone was among the few to have completed the registration policies.

The country was in the spotlight earlier this week for another reason: the hacking attack on the crypto platform GDAC. As CryptoPotato reported, cybercriminals breached its security and drained over $13 million worth of digital currencies (23% of its total custodial assets).

GDAC took emergency measures and blocked deposits and withdrawals. It also reported the issue to the relevant law enforcement agencies and asked rival companies for help in the disturbing situation.

The Do Kwon 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 – Do Kwon – allegedly became a fugitive shortly after the collapse of LUNA/UST.

Multiple failed investors and agencies blamed the 31-year-old developer for being the main culprit behind the adverse event and insisted he faces justice for his actions. However, he was reluctant to cooperate and started hiding in different spots across the globe, with Dubai, Singapore, Russia, and Mauritius being among the possible destinations.

The notice upon arrival issued by the South Korean Ministry of Justice and Interpol joining the hunt seemed to have no effect, and Kwon’s whereabouts remained unknown for months.

Some sources indicated in December last year that he could be hiding in the Balkan country of Serbia. Kwon’s arrest finally happened in March at the Podgorica airport (the capital of Montenegro and Serbia’s western neighbor).

American prosecutors were quick to charge him with securities fraud, commodities fraud, and conspiracy after the detention.

It remains unclear whether Kwon will face justice in his homeland or in the United States. However, Montenegrin law requires him to spend at least 30 days in a local facility since he was arrested on their soil.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Share9Tweet6ShareSharePin2

Related Posts

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs
All news

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

07.07.2025
0

The Russian Energy Ministry has begun compiling a national registry of crypto mining rigs as it looks to crack down...

Read moreDetails
Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

07.07.2025
Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

06.07.2025
Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

06.07.2025
Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

06.07.2025
Load More
Next Post

Coinbase Head of Exchange Exits Company

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

[LIVE] Crypto Presales to Watch Right Now: Latest News and Updates – June 26

[LIVE] Crypto Presales to Watch Right Now: Latest News and Updates – June 26

2 weeks ago
How to stake Cardano (ADA) in a self-custodial wallet

How to stake Cardano (ADA) in a self-custodial wallet

2 years ago
Ripple’s Legal Victory Triggers XRP Surge on South Korean Exchange Upbit

Ripple’s Legal Victory Triggers XRP Surge on South Korean Exchange Upbit

2 years ago

Beware Crypto Firms Using Proof of Reserves “Audits”, Warns SEC

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

XRP Price Prediction: Is Consolidation Over? Crypto Michael’s Chart Hints at Explosive Move

Bitcoin Price Prediction: Post-$50B Whale Dump, BTC Price Holds Steady – Can Institutional Control Drive New Highs?

Why Snaky Way’s $AKE Token Is More Than Just a Meme Coin, Presale Ongoing

Ripple (XRP) Holders Achieve Financial Freedom by Starting Dogecoin (DOGE) Mining Machines through Blockchain Cloud Mining

Trending

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs
All news

Russian Ministry Starts Compiling National Registry of Crypto Mining Rigs

07.07.2025
0

The Russian Energy Ministry has begun compiling a national registry of crypto mining rigs as it looks...

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

Brazil’s Central Bank Hack Sparks $40M Crypto Laundering in BTC, ETH

07.07.2025
Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

Drake Compares Love Life to Bitcoin Price Swings in New Lyrics

06.07.2025
Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

Ethereum Price Prediction: ETH Holds Narrow Range as ETF Demand Builds – Is a Breakout Near?

06.07.2025
Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

Mercado Bitcoin to Tokenize $200M in RWAs on XRP Ledger, Ripple Reveals

06.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz