South Korea: Virtual Asset Manipulation Case Leads to Release of Key Suspects

In South Korea’s first-ever case involving alleged virtual asset price manipulation, suspects A and B were granted bail by the court following accusations of market manipulation. The prosecution claims they manipulated prices through fake orders, exchanging approximately 1.22 million C coins, and profited around 7.1 billion won (roughly $5.2 million). This notable case marks the first significant crime to be uncovered since South Korea’s Virtual Asset User Protection Act came into effect last year.