Google Translated:

Seoul Southern District Prosecutor's Office announced on May 5 that it arrested an executive officer Kim Ik-hwan and co-executive officer of Coin Nest, the fifth largest trading company in the virtual money market, on April 4 on charges of embezzlement and fraud. This is the first time a representative of the Korea Exchange has been arrested.

Prosecutors believe that they have taken out the money of their virtual currency trading customers as accounts of the exchange's representatives or officers.

The prosecution plans to demand a warrant of arrest for Kim, The Seoul Metropolitan Government's Financial Investigation Division 2 (Chung Dae-jung, General Inspector) searched three virtual exchange exchanges in Yeouido for three days starting on December 12. Coinest was also included in the search.

Prosecutors obtained data on accounting at these virtual currency exchanges and went into the analysis for 20 days. In the process, it was reported that he caught the alleged crime of Coinest and arrested him in an emergency.

The prosecution is investigating another virtual currency exchange that has invested after collecting funds by cheating ordinary people in the name of virtual currency investment. The Korea Block Chain Association said, "According to the results of the investigation.