Security· ★★★· bearish·

South Korea's FSS chief vows to check Vitos ties to banks in KOK coin fraud case

  • —Vitos is suspected of employing people linked to the KOK coin scheme
  • —Estimated losses in the KOK coin case total 2.58 trillion won
  • —Prosecutors identified 577,070 victims and 66 suspects
  • —Vitos signed MOUs with Hana Financial TI, iM Bank, Hecto, Danal, Eugene and Jeonbuk Bank
Why it matters: The probe could expose ties between crypto firms and banks and tighten oversight of crypto fraud in South Korea.
Source: Bloomingbit
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