South Korea to Investigate AVAIL Altcoin Over Price Manipulation Concerns

The South Korean National Placement up is reportedly decoction a termed exam right into the altcoin AVAIL over price modification questions. Autonomous Party of Korea lawmaker Min Byeong-deok arrangements to telephone call the AVAIL token the “second Burger Coin” during Thursday’s Political Celebrations Committee meeting. South Korean regulators will dissect AVAIL’s transactions on the Bithumb sector in July.

Byeong-deok initially sold the term “Burger Coin” last year to define the SUI coin, which faced scrutiny since the foreign-available token was being traded locally. Now, the term is being used to the AVAIL token. The lawmaker said:

“October 17’s audit will enable us address the current crunch over AVAIL prices, as altogether as listing light beam and modification unpredictabilities on Bithumb, a lookout that lists AVAIL.”

“List Beam” and “Burger Coin”

“List light beam” refers to the phenomenon of a brand name-neoteric coin’s price carefully augmenting after being listed on an sector, adhered to by a sudden downtrend, leading to weighty losses. The term “burger coin” determines tokens like AVAIL and SUI from “kimchi coins.” Kimchi coins are low-cap family coins, while “burger coins” are foreign tokens traded on family bazaars.

Under the Electronic Asset Rebuttal Mien, the South Korean regulators launched an exam right into the suspicious AVAIL trading activities on Bithumb.

Read also: South Korea Finds KOK Token Collision, $3 Billion Lost

The exam will emphasis on AVAIL’s price fluctuations on Bithumb on July 23-24, when the token spiked by as a caboodle as 1383% in just 15 minutes. AVAIL, which was prized at $0.17 at 10:00 pm on July 23, jumped to $2.56 in 15 minutes. Records connote regulators assume an unnamed sponsor could have entailed in suspicious trading activities.