The Financial Supervisory Service of South Korea is investigating Coinone regarding the volatility of the Movement token

ChainCatcher news, according to South Korean media MTN, the Financial Supervisory Service of South Korea has launched an investigation into the exchange Coinone, focusing on the abnormal situation of the Movement token's price skyrocketing shortly after its listing and then plummeting sharply.

The investigation will verify whether there is unfair trading and check if Coinone's internal monitoring system is functioning properly. In addition, the reasons for Coinone listing the token ahead of other exchanges in a situation where liquidity may be insufficient will also be a key focus of the investigation.

Officials stated that if abnormalities are found, proactive measures will be taken.