The Financial Supervisory Service (FSS) of South Korea has announced that API-based programmatic trading now accounts for approximately 30% of the country's cryptocurrency market trading volume. The FSS has issued a warning against the use of automated tools for wash trading and price manipulation. The regulatory body highlighted practices such as high-frequency small-scale wash trades, spoofing, and coordinated actions across multiple accounts as areas of concern. In response, the FSS plans to launch a special investigation into accounts exhibiting abnormal API trading patterns. Additionally, the FSS cautioned investors to be wary of assets that experience sudden price and volume spikes without clear reasons, advising against impulsive buying.
South Korea's FSS Targets Automated Crypto Trading Manipulation
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