FSC/FSS Joint Press Release: Virtual Asset Market Manipulation Suspects Referred to Investigative Authorities
FSC/FSS Joint Press Release — English Translation
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About this document
English translation of the FSC and FSS joint press release dated July 1, 2026, announcing the referral of suspects in two virtual asset market manipulation cases to investigative authorities. Case (i) involves a long-term whale manipulation scheme exploiting cross-exchange price synchronization mechanisms. Case (ii) involves a short-term Kimchi Coin scheme combining API market-order trading with strategically placed high-priced limit buy orders to artificially inflate asset prices.
This translation is produced by H&S Partners, a licensed Korean law firm with deep expertise in Korean financial regulation, ensuring legal-grade accuracy and authoritative English rendering of technical regulatory language.