The Financial Services Commission of South Korea transfers two cases of cryptocurrency manipulation to prosecutors According to the Chosun Ilbo, the Financial Commission of South Korea voted at its regular meeting to transfer two cases of suspected manipulation of the virtual asset market to the prosecution for handling. The first case involves digital assets listed on both domestic and foreign exchanges. The suspect invested tens of billions of Korean won, pocketing more than half of the global circulation. After raising prices on overseas exchanges, they used cross market arbitrage and price linkage effects to induce Korean investors to follow suit and buy. The profits on domestic exchanges far exceeded the losses overseas, and the losses were concentrated among Korean investors. The second case involves the ultra short term manipulation of "kimchi coin". After the suspect pre purchased specific assets, he repeatedly submitted market price buy and sell orders through the API channel within 1 second to create the illusion of active trading. At the same time, he repeatedly submitted high price buy orders to raise prices, and sold his positions in batches to cash out after the influx of buying orders.