Chosun, the largest in addition to most pop online intelligence publisher inwards Republic of Korea has reported that law enforcement is almost to laid out investigations on altcoin pump-and-dump in addition to bitcoin Ponzi schemes.
The Bank of Korea volition back upwardly local law enforcement in addition to agencies alongside the investigation in addition to volition supply the necessary infrastructure in addition to technology scientific discipline to search for scam bitcoin projects in addition to programs.
The articulation investigation volition besides focus on the trading of altcoins that bring no value, or are suspected of beingness a pump-and-dump scheme.
“According to our sources, in that location are 676 altcoins, including bitcoin, listed on coinmarketcap.com. However, entirely 309 of them bring a marketplace cap of USD$10,000, in addition to others are almost worth nothing. Furthermore, in that location are 550 altcoins that bring extremely depression daily trading volumes,” said the article.
The Bank of Korea in addition to the local constabulary already bring started looking into several dissimilar altcoins that bring been used over the concluding few months in addition to are discussing alongside local enforcement whether to launch a amount investigation on these altcoins in addition to on the individuals or organizations that bring been promoting the role in addition to trading of altcoins that bring recorded substantially depression daily trading volumes over the by 48 hours.