South Korean financial authorities are investigating 20 companies for using crypto currency to increase the price of their shares

The South Korean Financial Supervision Service is investigating the activities of twenty crypto companies that were registered on the stock exchange of the country under the name of Kosdaq, local mass media report.

The country's financial authorities also warned investors that a number of unfair trade deals were discovered in so-called "shares associated with virtual currency".

The South Korean Financial Supervision Service said it will continue to monitor and punish companies that use crypto-currencies in fraudulent schemes, including to increase the value of their shares.

"In the future, we will take serious measures against unfair trade in shares, we will promptly monitor such cases, which are related to virtual currency, since such manipulations can damage a huge number of investors", – specifies the news channel of the financial body.

Author: Andrey, analyst Freedman Club Crypto News

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