Three South Korean Exchanges Were Caught Stealing Assets from Their Customers

The South Korean authorities have discovered illegal activities conducted on three cryptocurrency exchanges. Organizations abducted cryptocurrency assets from their customer in order to buy cryptocurrencies on other exchanges with the stolen funds.

“The firms turned up on our radar in January, during our investigation of suspicious money transfers between bitcoin exchanges”, a prosecutor explained.

After the discovery of evidence, the stock exchanges were frozen, and the operators were accused of stealing funds.

Such investigations have become more frequent because of attempts by the South Korean authorities to restrict the rules for the regulation of cryptocurrency organizations.

It is worth noting that in January of this year the chairman of the South Korean Fair Trade Commission recognized the fact that it is impossible to close cryptocurrency exchanges completely. He expressed this opinion during the investigation of 13 trading platforms that allegedly violated the law on electronic commerce.

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