Alex Dudov
⬤ Bitcoin trading on Bithumb caught regulators' eyes in South Korea after a major mishap. An accidental transfer of 620,000 BTC sent prices plummeting to $55,000 on the exchange, prompting officials to launch an active investigation into crypto market manipulation.
⬤ The crackdown will zero in on shady practices by big players and exchanges. Authorities are specifically looking at whale pumping schemes, artificial price propping, and coordinated buy spikes that mess with BTC trading.
⬤ The incident exposed just how much influence large traders have over short-term price swings on exchanges. Regulators made it clear they're expanding their monitoring game this year to catch and shut down these tactics across the crypto market.
⬤ South Korea is tightening the reins on digital asset trading, with enforcement teams focused on stamping out manipulation and bringing more transparency to BTC market activity.
Alex Dudov
