Coinone Scandal: Employees Arrested for Shady Crypto Listings

1. Coinone employees face arrest over underhanded dealings in cryptocurrency listing.
2. Two Coinone employees have been charged with violating laws and breach of trust.
3. Furiever Coin’s exclusive listing on Coinone is linked to a criminal investigation.

A major scandal has erupted as employees of the South Korean cryptocurrency exchange, Coinone, face arrest over allegations of underhanded dealings in the listing of certain crypto assets. The shocking revelations came to light on Tuesday, as reported by CoinDesk Korea.

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Seoul Southern District Court Chief Judge, Kim Ji-Sook, voiced concerns about possible escape attempts and issued warrants for the arrests on Monday. Kim Mo, Coinone’s listing team leader, has been charged with violating the Concealment of Criminal Proceeds Act and breach of trust. Hwang Mo, a listing broker, has also been charged with breach of trust in the case.

The report alleges that Hwang paid a staggering sum of 2 billion won ($1.51 million) to Kim and Coinone’s former director of listing, Mr. Jeon, in exchange for listing specific virtual assets on the platform. One such cryptocurrency, “Furiever Coin,” has been exclusively listed on Coinone and is now at the center of a chilling kidnap and murder investigation taking place in Seoul’s Gangnam district.

This latest development has sparked widespread concern over the integrity of cryptocurrency exchanges and their potential connection to criminal activities.

In other news, the unstoppable expansion of artificial intelligence (AI) has sparked heated debates among world administrations. As nations grapple with the repercussions of swiftly advancing AI technologies, they are under increasing pressure to create regulatory frameworks that strike a balance between innovation and control.

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