The Sinister Side Of Crypto: Unravelling Coinone Executive's Million Dollar Bribery And Murder Saga

A former high-ranking official of the renowned South Korean crypto exchange, Coinone, conceded to allegations of accepting bribes for listing specific digital currencies.

The ex-executive, referred to as "Mr. Jeon," was the previous listing director at Coinone, as per the local news agency Yonhap.

He stands accused of accepting nearly 2 billion won (equivalent to $1.51 million) as a bribe for listing particular virtual assets including the Furiever Coin, which has since been entangled in a serious crime investigation involving abduction and homicide in Seoul's Gangnam district.

Also Read: Binance Pulls The Plug: Token Deposits Suspended Due To Multichain Mayhem

"Mr. Ko," an intermediary associated with Jeon, is suspected of enabling these questionable listings.

During a court session on May 25, a representative for both parties admitted, "I acknowledge the facts of the prosecution."

He further stated, "While we concur with the prosecution's account, we have yet to examine all the evidence thoroughly. Therefore, we will share our conclusive standpoint after completing this review."

There have been similar charges levied against the team leader of Coinone's listing division and another intermediary. Their legal representatives disclosed that they're still examining the evidence and will address these allegations at the subsequent trial slated for June 15.

Read Next: The Next Crypto Sensation: Base's Mainnet Launch And What It Means For You

Photo: Shutterstock