Police Allege Coinone Margin Trading Is Illegal Gambling

Police suggests that the margin trading of cryptocurrencies on Coinone can be a form of illegal gambling activity and used for money laundering
07 June 2018   1191

The South Korean Police Department announced the investigation on the Coinone exchange due to its services in margin trading of cryptocurrencies, CoinDesk reports.

The police refers to the results of their 10-month investigation, during which it was found that 19,000 people participated in margin trading on the platform, and 20 of them became the main defendants of the case because of high trading volumes.

The high-volume traders, as alleged by the lw enforcements, in total handled over 3 billion won ($2.8 million) in 3,000 to 13,000 instances of margin trading using Coinone's service, which is deemed illegal gambling by the police.

Thus, police is going to bring to responsibility three Coinone executives, including its CEO, Muyunghun Cha, and 20 traders with the highest volumes of trades.

At this time we are focused on cooperating with the ongoing investigation, and will continue to do so as the case is in the process of moving over to the Prosecution Service from the Police Agency.
 

Coinone Representative

Coinone provided shoulder-trading services from November 2016 to December 2017, and the investigation, according to Yonhap, was initiated in August 2017.

Brave Allows to Buy Crypto at Binance Inside the App

Now a widget on the tabs in the Brave browser gives users direct access to both the Binance US
25 March 2020   1016

Decentralized browser Brave announced a partnership with the cryptocurrency exchange Binance. Now, Brave users will be able to buy cryptocurrencies on Binance simply by opening a new tab in the browser.

A widget has appeared on the tabs in the Brave browser, which gives users direct access to both the Binance main site and the site of the American division of the exchange. Users will be able to exchange cryptocurrencies, view their balance and receive addresses for depositing cryptocurrencies directly in the browser. At the same time, developers left the option to disable the widget in the settings.

The developers emphasized that the widget uses the Binance API and does not download any data from the exchange servers, so that user data is protected. The new feature is available in the desktop version of Brave Nightly, and in the main version of the program it will appear in April.

The Binance widget on Brave’s privacy-oriented browser instills a safer way to buy and sell crypto and also reduces user friction to onboard, trade and interact with the Binance ecosystem. We are looking forward to our long-term partnership with Brave to make it even easier to interact with crypto and encourage more utility in the near future.

 

Changpeng Zhao

CEO, Binance