$44B bitcoin blunder puts South Korea regulators on alert over local crypto exchanges
South Korea’s top financial watchdog is stepping up oversight of crypto markets days after a local exchange mistakenly distributed billions of dollars worth of bitcoin to users.
The Financial Supervisory Service said Sunday it will launch planned investigations into “high-risk” practices that undermine market order, including large-scale price manipulation by so-called whales, trading schemes tied to suspended deposits and withdrawals, and coordinated pump tactics fueled by social media misinformation.
The watchdog also said it plans to build tools that automatically extract suspicious trading patterns by the second and minute, alongside text-analysis systems using artificial intelligence to flag potential market abuse.
The…
