South Korea's cryptocurrency exchange Coinnest ceases operations

On April 16th, Coinnest issued a notice of “official stop service” on the official website. From April 16th, Coinnest will stop the new member registration service. The transaction and recharge service will also end from the 30th of this month. It is expected that the cryptocurrency and Korean won transfer service will be completely terminated by June 30th. Earlier reports said that in April last year, Coinnest CEO Jin Yihuan and management personnel were arrested by the Southern District Prosecutor's Office in Seoul for alleged corruption and fraud.