A zero-knowledge (ZK) Layer-2 blockchain. Manta Network; Binance came under scrutiny for money laundering allegations in South Korea on the same day it was listed on Bithumb and KuCoin.
These allegations show that money laundering activities are carried out through the Bithumb exchange. This comes after Manta Network faced a DDoS attack on the same day.
According to Defianalist, approximately 2 million MANTA tokens were transferred to the personal wallet of MANTA’s Korean Business Development (BD) representative. It is noteworthy that this transaction took place after the completion of the Binance Launchpool.
However, immediately after this move, 2 million tokens were transferred to a Bithumb crypto wallet. This is a very large amount, representing 75% of the circulation volume of the stock market at that time. To make things even more interesting, the price of MANTA skyrocketed more than 100 times on the stock market, jumping from its opening price of $2.26 to $230. The BD representative also sold all of his assets during this rise. Converting these assets into 2094 ETH, the representative withdrew all assets to his personal wallet.
BD’s actions have raised serious concerns within the crypto community. However, Manta Network’s latest statement denied these claims. However, it is a known fact that the Korean government has strict rules regarding money laundering, and heavy penalties may be imposed if the allegations are confirmed.
However, according to officials, the assets transferred to the representative’s wallet were transferred as part of the economic model.