Amid the cryptocurrency trading fever,'general consulting' companies that solve everything from production to listing at once are scattered.
However, the situation was revealed that some companies are performing market price manipulation pretending to be consulting.
The market maker, or'MM', is to make the price of a specific cryptocurrency rise or fall.
If you look at the contract between the cryptocurrency maker A and the company in charge of controlling the market, how to respond when the price deviates from the preset price.
In fact, the price of the virtual currency issued by Company A surged after listing, but soon plummeted to the listed price level.
Officials in the cryptocurrency industry gathered saying that "the act of manipulating the market price through consulting companies is frequently performed."
It is in a situation where you can easily find market makers with cryptocurrency comprehensive consulting signs on widely known internet job search sites.
However, there is no proper way to punish market manipulation in the cryptocurrency trading market.
This is because virtual assets are not subject to the Capital Markets Act.
Amid the indifference of the government and financial authorities, illegal and expedient transactions surrounding virtual currency are on the rise.