Heads of two South Korean exchanges were supposedly imprisoned for artificially boosting the trade volumes on their exchanges. The duo allegedly used a bot to place huge orders both in cryptocurrencies and fiat currency (Korean won). The South Korean exchange in question is Komid and according to The News Asia, the executives were imprisoned two days back “for their roles in orchestrating fraudulent volume reports on their platform.” The charges from prosecutors outlined a scheme wherein the two defendants fabricated 5 million transactions on their platform to deceive investors into thinking that the volume was natural. This led to the two earning about $45mil. There is also a suspicion that they utilized a ‘bot’ to automatically create large orders, which attracted new users.”