The Seoul Southern District Prosecutors' Office has arrested suspects A in their 30s and B in their 20s on charges of violating the Act on the Protection of Virtual Asset Service Users. Mr. A and others are accused of gaining an illegal profit of about 7 billion won by manipulating the price of cryptocurrencies, such as by inflating their transaction volume through false purchase orders. The prosecution received the case from the Financial Supervisory Commission last October, which is the first case of violation of the Act on the Protection of Users of Virtual Assets received by the Financial Supervisory Commission on a fast track. The prosecution believes that suspects A and B created multiple accounts on a virtual asset exchange and repeatedly bought and sold virtual assets at inflated prices, creating the illusion of active trading and artificially inflating the price. They are also accused of using social media and other online platforms to spread false information about the virtual assets, further driving up the price. The arrest of suspects A and B marks the first time that the Act on the Protection of Users of Virtual Assets has been applied in a fast-track investigation. The prosecution's quick action in this case sends a strong message that it is taking a hard line on virtual asset-related crime.