Hdr_About.jpg

Detail Analysis

link.png

Date:

Status:

Count:

Contributor:

August 25, 2020

info.png

Verified

1

zerofriction.io

Loss Amount:

85,000,000

info.png

Recovered Amount:

-

Currency:

Dollars

KYC By:

Audit By:

None

None

info.png

Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

info.png

Key Indicators

Platform:

Type:

Category:

Method:

Exchange

Assets

Scams

Extended Method:

fake trading volume

Data Sources:

info.png

South Korea’s third largest digital currency exchange, Coinbit, was seized and investigated by South Korean police. Its chairman and operator were suspected of internal transactions and manipulation of market prices. The police claimed that the company was suspected of using illegal means to earn at least 100 billion won in illegal profits (approximately 85 million US dollars), and Coinbit was also suspected of forging more than 99% of its transaction volume.

info.png

DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.