According to ChainCatcher, citing Cointelegraph, the Financial Supervisory Service (FSS) of South Korea stated that API-based cryptocurrency transactions currently account for approximately 30% of the market's trading volume.
The FSS points out that some traders are using automated tools to inflate trading volume and manipulate prices, including repeatedly submitting small orders to create a false impression of activity and artificially driving up prices with high-priced limit orders.
Regulators stated they will launch a special investigation into accounts suspected of engaging in unusual API trading and warned investors to be wary of assets experiencing sudden price and volume spikes without apparent reason. Previously, South Korea had required exchanges to check asset balances every five minutes and continued to tighten anti-fraud rules, but some regulatory measures still face constraints due to an imperfect legal framework.
