The Financial Services Commission (FSC) has filed complaints with investigative authorities against so-called 'whale' investors who raised prices on overseas virtual asset exchanges and then realized profits on domestic exchanges, as well as against suspects of market manipulation who enticed buying by placing ultra-short-term repeated orders on 'Kimchi coins'. According to Maeil Business Newspaper, the FSC announced on the 1st that it held its 12th regular meeting and resolved to file complaints with investigative authorities regarding two cases of alleged market manipulation in the virtual asset market. Financial authorities stated, "Going forward, we plan to strengthen the provision of information related to large investors' virtual asset accumulation and disposal, and also supplement the market warning system that notifies whether transactions are concentrated in a few accounts."
