Coinnest exchange shuts down after series of embarrassing incidents
The crypto exchange has already cut off new account creation capabilities, while trading and deposits will be cut off at the end of April.
The crypto exchange has already cut off new account creation capabilities, while trading and deposits will be cut off at the end of April.
Computer glitches are never fun, but when they result in the loss of money, they can be completely debilitating.
Coinnest CEO Kim Ik-hwan and COO Cho have received a total of KRW1 billion ($890,000) worth of BTC and S Coin from the latter’s CEO, a man also named Kim, in exchange for S Coin’s “unfair” listing on the exchange.
Kim Il-hwan, CEO of South Korean cryptocurrency exchange Coinnest, was arrested in Seoul on allegations of embezzling customer funds.