South Korea’s First Virtual Asset Price Manipulation Case: Suspects Released on Bail

In South Korea, the country’s first case involving allegations of virtual asset price manipulation has resulted in the release of two suspects, A and B, after a court granted them bail. The prosecution alleges that these individuals manipulated the market by placing fake buy and sell orders, trading approximately 1.22 million C coins, and illegally profited around 7.1 billion won (approximately $5.2 million). This case marks the first major crime uncovered since the implementation of the Virtual Asset User Protection Act last year.