South Korea Reports 40 Crypto Market Manipulation Probes Since User Protection Law Took Effect

South Korea’s Financial Services Commission said it has completed about 40 investigations into unfair trading in the virtual asset market and referred or reported more than 30 cases to prosecutors and other judicial authorities since the Virtual Asset User Protection Act took effect two years ago. According to ChainCatcher, the cases targeted short-term manipulation and pump-and-dump schemes that disrupt market order. The commission also said it plans to strengthen market surveillance by building an AI-based virtual asset regulatory system. The system is expected to include real-time market monitoring, second-level price manipulation analysis, and automatic detection of suspicious accounts and trading intervals.