Korean Regulator Investigating Staff Insider Trading of Cryptocurrencies

An official from South Korea's Financial Supervisory Service (FSS) has reportedly said that an investigation is underway into claimed insider trading within his organization.

Choi Heung-sik, governor of the FSS, said the regulator – an executive arm of the Financial Services Commission – will make public any findings on the allegations of illegal trading of cryptocurrency by one of its staff members

Shady

I knew it if this turns out to be true. Too much drama coming from the Korean side of the crypto market.

What do you think?

a reply to: liejunkie01

I think people jumped on the cryptocurrency bandwagon too fast.

People will regret getting involved in this hype when they realize these instruments have no value, regardless of what the market tells them.

a reply to: introvert

People will regret getting involved in this hype when they realize these instruments have no value, regardless of what the market tells them.

There are a lot of companies that have real world applications that are being used and complimented.

originally posted by: liejunkie01
a reply to: introvert

People will regret getting involved in this hype when they realize these instruments have no value, regardless of what the market tells them.

There are a lot of companies that have real world applications that are being used and complimented.

What intrinsic value do any of them have?

If their bottom falls out, you are left with nothing.

originally posted by: introvert
a reply to: liejunkie01

I think people jumped on the cryptocurrency bandwagon too fast.

People will regret getting involved in this hype when they realize these instruments have no value, regardless of what the market tells them.

Nothing ventured, nothing gained. I'd rather have a discussion three years from now gloating over the $500 investment I made in 2018 turned into much, much more rather than saying I wish I had put down a bit of cash. Only time will tell if I made a good decision.

a reply to: introvert

You should read this, takes 5 minutes

tomluongo.me...

originally posted by: LogicalGraphitti

originally posted by: introvert
a reply to: liejunkie01

I think people jumped on the cryptocurrency bandwagon too fast.

People will regret getting involved in this hype when they realize these instruments have no value, regardless of what the market tells them.

Nothing ventured, nothing gained. I'd rather have a discussion three years from now gloating over the $500 investment I made in 2018 turned into much, much more rather than saying I wish I had put down a bit of cash. Only time will tell if I made a good decision.

Good luck to you.

On the very surface of it, it is highly illogical and it appears currencies like bitcoin will perform exactly like most commodity trading does. It may have it's ups and downs, but it will always trend down in the long run.

a reply to: introvert

If their bottom falls out, you are left with nothing.

Same with any currency.

a reply to: liejunkie01

It was a roller coaster ride that's for sure, Reddit was a war zone lol.

To be honest, I suspect there is FAR more than one insider individual involved....especially the nature of three different announcements within a week, swinging the market a different way.

My bet is that they are also partnered up with some insiders in China too.

a reply to: Gazrok

I completely agree.

I know the market is volatile but it seems like it us being manipulated pretty hard.