"Accused of Breach of Duty"...Prosecution Raids Coinone

The prosecution is conducting a compulsory investigation into the virtual asset exchange Coinone.

On September 30, the Virtual Asset Crime Joint Investigation Unit of the Seoul Southern District Prosecutors' Office, led by Chief Prosecutor Lee Sanghyuk, announced that it is carrying out searches and seizures at Coinone's office and the residences of suspects.

This search and seizure is reportedly related to a case in which the Financial Supervisory Service filed a complaint for breach of duty, alleging that the former CEO of Coinone lent 27 billion won of Coinone's funds to the parent company without collateral.