According to ChainCatcher news, Digital Asset reported that the Seoul prosecutors today arrested two criminal suspects in their 30s and 20s, which appears to be the first violation case after South Korea implemented the 'Virtual Asset User Protection Act'. They were accused of manipulating the price of the cryptocurrency Fusionist (ACE) listed only on the local exchange Bithumb, through fabricating purchase orders to inflate the trading volume, and illegally profiting about 70 billion Korean won (approximately $476,000).
The media pointed out that the trading volume and price data of ACE displayed on the Bithumb website is consistent with the data in the prosecutors' announcement.
