Unnamed crypto exchange CEO from South Korea was arrested for attacking and threatening a huge number of his current and former employees as we are reading today in the cryptocurrency news.
The South Korean exchanges are going through a horrible week since the unnamed crypto exchange CEO of what the media calls ‘’a top three’’ exchanges CEO, is now facing assault and extortion charges. According to Maeil Kyungjae, the police in Seoul have charged the CEO who for legal reasons has still not been identified by the police, attacking and threatening a number of his employees.
At least two of his employees were also charged and the case has been given to the prosecutor’s office. The police noted that the incident took place at the start of the year when the CEO discovered that an employee named by the authorities only as B, had been trading on the exchange platform. Although the platform had no policy preventing the employees from opening accounts, the CEO believed that the employee has been using insider information to make personal gains.
The police also noted that the Unnamed crypto exchange CEO refused to let the employee leave the company for more than 10 hours and he even threatened and attacked him/her with his fits. The CEO eventually forced the employee to transfer about 17,000 USD worth of funds to the crypto exchange. The Police later named him as Choi and stated that he made threats of violence to two other employees who he suspected that they were also insider trading. He later coerced them to hand him over a few thousand dollars’ worth of fiat and crypto together.
The police even charged Choi and other exchange employees with blackmail and violent conduct. The crypto media outlets claimed that the platform was among the top-3 exchanges in the industry and it is known to be a huge leader in the industry. Most of the top cryptocurrency exchanges in the country are based in the affluent Gangnam district including UpBit which lost millions of dollars worth of Ethereum tokens yesterday in a mysterious incident that appears to be a hack. Also, Bithumb is positioned in the same place as well which has a CEO under the name Choi. He is considered to be the CEO of the exchange but both of the platforms were not available for comment.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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