Bitsonic CEO Arrested and Indicted for Inflating Coin Prices Through False Trades

08/09 00:10

The CEO of Bitsonic, a virtual currency exchange, has been arrested and charged with fraud, forgery, and other crimes related to allegedly inflating the market price and trading volume of its own issued currency and stealing customer deposits. The Seoul Eastern District Prosecutors' Office Cyber Crime Investigation Department (led by Prosecutor Lee Hee-chan) announced on the 8th that they have arrested and charged Bitsonic's CEO, Shin Woo, with specific economic crimes punishable by law.

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