Komid Exchange Management Jailed

CEO and another representative got 3 and 2 years in prison for faking volume 
21 January 2019   516

Two leaders of the South Korean crypto exchange Komid were sentenced to prison for falsifying trading volumes. It is reported by the Cointelegraph, citing a local source.

So, the CEO of the exchange by the name of Choi received three years in prison. Another Komid representative received two years of imprisonment for fraud, embezzlement and other illegal activities.

According to the Korean authorities, the exchange has fabricated 5 million transactions to artificially increase trading volumes. The company used a special bot that automatically created large orders that attracted users. This scheme brought  $ 45 million to scammers.

Choi has committed fraud for a countless number of victims for a long period of time…. Futhermore, he holds the financial authorities responsible for failing to keep track of the industry better.
 

Judge

Last fall, under pressure from the South Korean authorities, the Zeniex Exchange closed, previously launched the country's first cryptocurrency fund ZXG Crypto fund No 1.

Hacked Zaif Exchange to Resume Operations

It was hacked in September last year,  about $60 million in cryptocurrency was stolen from its platform
22 April 2019   88

Japanese cryptocurrency exchange Zaif announced that it will complete the transition from the Tech Bureau to the Fisco Digital Asset Group (FDAG) on April 22 and resume normal operation the next day, Cointelegraph reportes.

In September last year, the exchange underwent a hacker attack when about $ 60 million in cryptocurrency was stolen from its platform, including Bitcoins, Bitcoin Cash and Monacoin. As part of the compensation plan to users, FDAG exchange acquired a large stake in Zaif business and transferred to the Tech Bureau over $ 44.6 million.

According to an earlier announcement of the exchange, 40% of the lost funds will be compensated to users by Fiat, and the remaining 60% - to the cryptocurrency, which will be available for withdrawal on April 23.