In a recent development, prosecutors have flagged the decision of Kwon, the former CEO of South Korean crypto exchange Upbit, to send millions to a law firm as a deliberate move. This move allegedly reaffirmed his awareness of the impending collapse and anticipated legal problems. The news was reported by KBS News, a South Korean news outlet.
Kwon resigned from his position in September 2019, citing health reasons. However, recent reports suggest that he may have been involved in fraudulent activities. The prosecutors have been investigating the case for several months and have now flagged Kwon’s decision to send millions to a law firm as a deliberate move.
The decision to send millions to a law firm has raised suspicions that Kwon may have been trying to cover up his tracks. The prosecutors believe that Kwon was aware of the impending collapse and anticipated legal problems that would arise as a result of his fraudulent activities. By sending millions to a law firm, Kwon may have been trying to secure legal representation for himself.
The news has sent shockwaves through the crypto community in South Korea. Upbit was one of the largest crypto exchanges in the country, and its collapse has had a significant impact on the industry. The news of Kwon’s alleged involvement in fraudulent activities has further damaged the reputation of the crypto industry in South Korea.
The South Korean government has been cracking down on crypto exchanges in recent months, and the Upbit case has only added fuel to the fire. The government has been trying to regulate the industry to prevent fraud and money laundering. However, the Upbit case has shown that there is still a long way to go before the industry can be considered safe and secure.
In conclusion, the decision of Kwon, the former CEO of Upbit, to send millions to a law firm has been flagged by prosecutors as a deliberate move. This move allegedly reaffirmed his awareness of the impending collapse and anticipated legal problems. The news has sent shockwaves through the crypto community in South Korea and has further damaged the reputation of the industry in the country. The Upbit case has shown that there is still a long way to go before the industry can be considered safe and secure.
