The Financial Services Commission (FSC) has filed complaints with investigative agencies against so-called 'whale' investors who allegedly manipulated prices by driving up virtual asset prices on overseas exchanges and then realizing profits on domestic exchanges, as well as suspects who manipulated prices by luring buying interest with ultra-short-term repeated orders on 'Kimchi coins'. According to Maeil Business Newspaper, the FSC announced on the 1st that it held its 12th regular meeting and resolved to file complaints with investigative agencies regarding two cases of alleged market manipulation in the virtual asset market. The financial authorities stated, "Going forward, we will strengthen the provision of information related to the acquisition and disposal of virtual assets by large investors, and also plan to supplement the market alert system that notifies about concentrated trading by a small number of accounts."
