TechFlow News: On February 4, according to The Block, the Seoul Southern District Court sentenced the CEO of a cryptocurrency asset management company to three years’ imprisonment, imposed a fine of 500 million Korean won (approximately $344,000), and ordered the confiscation of illicit proceeds amounting to 846 million Korean won (approximately $582,000). The CEO manipulated the price of the ACE cryptocurrency using an automated trading program, generating illegal profits of approximately 7.1 billion Korean won ($4.88 million). During the period of his manipulation, the coin’s average daily trading volume surged from 160,000 units to 2.45 million units, with 89% of that volume attributable to the CEO’s trading activities.
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