According to ChainCatcher, the suspects and accomplices in South Korea's first case of price manipulation prosecuted under the (Virtual Asset User Protection Act) recently obtained bail from the court. The Southern District Court of Seoul approved the bail applications of the main suspect A and accomplice B.
The prosecution accuses the suspect of manipulating the price of C coin through market price buy and sell orders and false buy orders, trading approximately 1.22 million C coins, and illegally profiting 7.1 billion Korean won. The case was investigated by the Financial Supervisory Service and transferred to the prosecution in October last year, and was prosecuted by the prosecution through an emergency procedure on January 3 of this year.