South Korea's Financial Supervisory Service (FSS) is closely monitoring the ZK token market on Upbit, the country's largest cryptocurrency exchange, after experiencing significant price volatility. On February 1, the ZK token's price skyrocketed by nearly 1000% within three hours, jumping from 33 KRW to 350 KRW, before rapidly declining. The FSS's scrutiny comes in response to these abnormal price movements, which have raised concerns about potential market manipulation or other irregularities. The agency's involvement underscores the importance of maintaining market integrity and protecting investors in the rapidly evolving cryptocurrency landscape.