South Korea's Financial Services Commission transfers two cases of virtual asset manipulation to prosecutors

According to the Chosun Ilbo, the Financial Services Commission of South Korea has voted to transfer two cases of suspected manipulation of the virtual asset market to the prosecution for processing. The suspect in the first case used cross market arbitrage and price linkage effects to induce Korean investors to follow suit and buy, resulting in losses for Korean investors. The suspect in the second case repeatedly submitted orders through the API channel to create the illusion of active trading, and then sold their positions in batches to cash out after raising prices.