TechFlow news, December 12 — According to South Korean media MTN, the Financial Supervisory Service said Wednesday that the Virtual Asset Investigation Unit will interview officials from Coinone to investigate the sharp price fluctuations shortly after the listing of the Movement token.
The investigation will verify whether any unfair trading occurred and examine whether Coinone’s internal monitoring systems are functioning properly. Additionally, the probe will focus on why Coinone listed the token ahead of other exchanges despite potential liquidity shortages.
"If we discover any irregularities during this process, we will respond proactively," a government official said.
Previous report: South Korean platforms Upbit and Bithumb had planned to list MOVE at the same time, but Coinone unexpectedly launched the token earlier, with an opening price as high as 998,500 won (approximately USD 700).
