South Korea's Financial Supervisory Service launches investigation into Coinone over Movement token price spike

According to a report by MTN, a South Korean media outlet, the South Korean Financial Supervisory Service has launched an investigation into the cryptocurrency exchange Coinone, focusing on the abnormal price fluctuations of the Movement token after its listing. The investigation will verify whether there were any unfair trading practices and check if Coinone's internal monitoring system was functioning properly. Additionally, the investigation will focus on the reasons why Coinone listed the token before other exchanges, despite potential liquidity issues. The authorities stated that if any irregularities are found, they will take appropriate measures.