Tags: Law Enforcement

A $7.5 million hack of the exchange in February 2022 was uncovered earlier this week by prominent crypto sleuth ZachXBT.

The exchange has been charged by U.S. and European authorities with laundering $700 million in funds tied to Russian criminals.

South Korean prosecutors are investigating transactions related to a specific person or entity moving the price of a coin to make a profit and said they will also examine relevant transactions on other exchanges.

The irreversibility of cryptocurrency transactions presents a unique challenge for recovering stolen assets. The seed funding round was led by Framework Ventures and other investors.