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    South Korean regulators allege Sui Foundation manipulated markets

    By ApeSpaceOctober 20, 2023
    A blue teardrop shape with a S-shaped line through the middle

    A lawmaker in South Korea has alleged that the Sui Foundation has engaged in market manipulation to enrich themselves. The South Korean Financial Supervisory Service reportedly launched an investigation into the distribution of the SUI token following Representative Min Byeong-deok’s allegations, intending to determine whether there was truth to his claims that they had paid themselves interest by staking tokens that should have been left untouched in the non-circulating supply.

    The Sui Foundation has disputed the allegations on Twitter, calling them “unfounded and materially false”.


    • “Sui token struggles to regain despite denial of ‘unfounded’ allegations”
      , Cointelegraph

    • Tweet by the Sui Foundation
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