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The CEO of the cryptocurrency trading site Bitsonic, Jinwook Shin, has been detained by South Korean police on suspicion of orchestrating an embezzlement scam.
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Unexpectedly, the plan is said to have stolen $7.5 Million from platform users who weren’t paying attention.
According to South Korean information outlet Chosun Biz, Shin’s arrest was made on August 7 through neighborhood law enforcement. This move is part of ongoing research into his alleged misappropriation of investments and deposits entrusted to Bitsonic with the aid of its customers. Along with Shin, the VP of the alternate is likewise implicated and will face trial, no matter whether he is no longer held in preliminary detention.
Prosecutors have asserted that the fraudulent sports activities transpired over a prolonged period, stretching from January 2019 to May 2021. During this time, it’s been alleged that Shin engaged in a sequence of deceptive maneuvers, manipulating cryptocur
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