Bitsonic was a cryptocurrency exchange based in South Korea, founded by CEO Shin Jin-ho. It aimed to provide a user-friendly platform for trading various digital assets, gaining some traction in the competitive Korean market. However, the exchange collapsed in 2021 after it was revealed that its executives, including the CEO, were engaged in massive fraud. They were found guilty of manipulating transaction volumes, faking user balances, and embezzling approximately 10 billion won (over $8 million USD) from users' deposits, leading to the complete shutdown of the platform and significant legal repercussions.

Founded in

South Korea