Bithumb CEO Accused Of Taking $3.7B Bribe To List FANC And Manipulating Price
The CEO of Bithumb is suspected of taking a $3.7 million bribe to list the FANC token. CELEbe Korea, the issuer of the FANC coin, was searched. According to an exclusive report by Digital Asset, the prosecution recently arrested and searched CELEbe Korea, the issuer of the FANC coin, in connection with allegations that the CEO of Bithumb Holdings received a bribe of 5 billion won (about $3.7 million).
The prosecutor’s office confiscated and searched CELEbe Korea, the issuer of the FANC (Fancy) Coin, on the grounds that there was evidence. The media added, among South Korean crypto exchanges, only Bithumb listed the FANC token (online as of March 2023), and about 87% of the transactions are taking place on the platform. This cryptocurrency exchange. Besides, FANC’s price trend is suspected of market manipulation centered on May 25-26. According to the data, the trading volume more than doubled, and the price increased by about 6.6%. This range is not large in the crypto market but it is questionable due to the small volume of FANC trading.
Source
https://t.me/DeFi_Ethereum
