South Korea Financial Supervisory Authority Chairman Lee Bok-hyun announced that they will launch an investigation into the AVAIL token traded on Bithumb. AVAIL was launched on July 23 with a price of 263 KRW and surged to 3,500 KRW within 15 minutes, but fell to 296 KRW within a day. This raised suspicions of price manipulation. 📉💼

Democratic Party MP Min Byoung-dug stated that Bithumb’s abnormal transaction system was not working. Lee Bok-hyun emphasized that they have improved their abnormal transaction detection system and are working to increase market confidence. 🔍