The Manta team, after listing in South Korea

Indra55

According to feedback from the Korean community, Manta is suspected of engaging in money laundering and market manipulation on the day of its listing on the Bithumb cryptocurrency exchange in South Korea. On-chain data indicates that Bithumb initially received approximately 2.7 million Manta tokens, with 2 million tokens deposited from a single address. Further tracking suggests that these tokens may originate from the official wallet of the Manta team and are linked to Manta team's Korean Business Development (BD).

Additionally, after the listing on Bithumb, abnormal Ethereum buying activity was detected, with a total of 2,094.64 Ethereum being withdrawn from Bithumb to the same address where Manta tokens were deposited earlier. The community points out that these actions may involve money laundering and market manipulation, raising concerns about potential large-scale tax evasion by Manta team's Korean BD.

Manta Network released a statement today, announcing the establishment of a branch in South Korea and allocating a portion of the Ecosystem/Community funds for market expansion in Korea according to the token economic model. However, there has been no response to the specific accusations from the Korean community.

Iti9

Money laundering is quite common, after all.

Jiten171

How can a trading platform be involved in money laundering?

Jafar224

It's possible that they are indeed suspected of money laundering.