Jinwook Shin, CEO of the Bitsonic crypto exchange, was arrested in South Korea for allegedly stealing funds from users of his exchange. According to the prosecutors, he allegedly manipulated prices and trading volumes on the exchange in order to profit around ₩10 billion (~$7.5 million) the beginning of 2019 and mid-2021.Bitsonic halted its services in August 2021, claiming “internal and external issues”. However, even after halting withdrawals, Shin continued to offer cryptocurrency to new clients.

Total loss estimated at $7,500,000.