The financial regulator in South Korea, the FSS, will launch an investigation into the token of the Layer 1 blockchain project Sui.
According to local news sources, FSS director Lee Bok-hyeon said, Your SUI token has potentially been manipulated and improperly circulated. They announced that they would launch an investigation into the possible allegations.
According to Blockmedia, concerns about SUI were raised by Min Byeong-deok, a member of the Democratic Party of Korea. min, “Sui Foundation stole coins through staking and put them on the market, causing the price to drop.” told.
SUI token has lost 70% of its value since it started listing on exchanges.
Party member Min, “domestic investors lost tens of billions of won in September alone due to the drop in Sui price.” He said he had suffered a loss, but the authorities did not intervene he stated.
Sui Foundation, not in circulation Allegations that he improperly placed the required tokens on the open market were made in June. had begun to be expressed.
According to CoinGecko data, SUI token has increased in the last 24 hours. It lost 8.1% of its value.