Korean exchange Komid execs get jailtime for reporting fraudulent trade volumes

source article​Prosecutors in the country are definitely making an example of a few bad apples these days. Lots of exchanges opening in Korea these days. Lots of them are doing internal PND schemes.The charges from prosecutors outlined a scheme wherein the two defendants fabricated 5 million transactions on their platform to deceive investors into thinking that the volume was natural. This led to the two earning about $45mil. There is also a suspicion that they utilized a “bot” to automatically create large orders, which attracted new users.

Submitted January 18, 2019 at 07:40PM

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