The Financial Supervisory Service of South Korea has launched an investigation into Coinone regarding the Movement Token big pump big dump incident.

ChainCatcher news, according to Korean media MTN, the South Korean financial regulator has launched an investigation into the exchange Coinone, focusing on the abnormal situation of Movement Token experiencing a big pump shortly after its listing and then a sharp decline. The investigation will verify whether unfair trading exists and check whether Coinone's internal monitoring system is functioning properly. In addition, the reason why Coinone listed the currency in advance on other exchanges in the case of insufficient liquidity will also be a focus of the investigation. The official stated that proactive measures will be taken if any anomalies are found.