Crypto Exchange Coinone's Former Exec Acknowledges Bribery Charges in South Korea: Report
A lawyer for the accused reportedly said he admits "the facts of the prosecution," during a May 25 trial hearing.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/BBVKAQM4YZCSHKOTYBCJEK2UW4.jpg)
Crime (Shutterstock)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
A former executive of South Korean cryptocurrency exchange Coinone, who was accused of taking bribes in return for listing certain coins, has acknowledged the charges, local news agency Yonhap reported on Thursday.
"Mr Jeon," Coinone's former director of listing, was accused of receiving nearly 2 billion won ($1.51 million) in return for listing virtual assets such as "Furiever Coin," which was listed exclusively on the exchange, and has since been linked to a kidnapping and murder investigation in the Gangnam district in Seoul. Jeon's broker, known as "Mr Ko," is accused of facilitating the listings.
At a trial hearing on May 25, a lawyer for the two reportedly said: "I admit the facts of the prosecution."
"Basically, we are acknowledging the facts of the prosecution, but since we have not been able to view all the evidence, we will present a final opinion after review," the lawyer added.
Coinone's listing team leader and another broker have also been accused, but their lawyers said they have yet to finish reviewing evidence and will respond to the charges at the next trial hearing on June 15.
Coinone didn't immediately respond to a CoinDesk request for comment.
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.
Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.