Bitsonic CEO Arrested for Stealing $7.5 Million from Exchange Users!

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The CEO of South Korean crypto exchange Bitsonic, Jinwook Shin, has been arrested by police on charges of stealing investments and deposits from exchange users. Shin is accused of manipulating cryptocurrency prices and trading volume on Bitsonic, allegedly stealing $7.5 million from users. Even after liquidity issues and withdrawal limitations, Bitsonic’s CEO continued offering crypto to new clients. South Korea has established an interagency investigation unit to combat cryptocurrency crimes and protect investors.