South Korean Official Was Discovered Exchanging Dogecoin On Their Phone

South Korean official was discovered exchanging virtual currency while attending a local government meeting. At the Bucheon City Council plenary session, Senior Auditor Ahn from the Gyeonggi Province reportedly used a cryptocurrency trading app “several times” while others were speaking.

“… the appearance of the city hall audit officer who attended the 263rd 2nd regular meeting of the Bucheon City Council in Gyeonggi Province on this day was captured by reporters’ cameras while ordering virtual currency during negotiation groups and municipal administration speeches.”

The official was “unable to focus” on the current conference due to trade distractions. The auditor “repeatedly apologized” and informed News1 over the phone when the situation first started:

“I’m sorry for doing other things during the plenary session.”

According to the photo taken by News1, the official made use of a domestic cryptocurrency exchange platform’s “purchase coin” feature. Three Dogecoin trading pairings displayed on the smartphone’s display. The South Korean Won [KRW] was one’s fiat opponent, Tether [USDT] was another, and Bitcoin [BTC] was the final.

Worth noting here is that Audit Officer’s annual contract is due to expire next month. Per News1, the same is due for renewal next month.

… it is known that he was about to renew the contract (extension by one year) in December.

Commenting on the latest development, a City Official was quoted saying:

“We are taking the matter seriously.”

Dogecoin experienced a pump at the beginning of November. The biggest meme token went on to retake 0.15888 on November 1; the previous time it had done so was in April 2022. Since then, DOGE has lost about half of its value and was trading at $0.075 at the time of publication.

However, given the present pricing, more than half of DOGE HOLDERS [56.25%] are making a profit or are “in the money.” While the remaining 6.05% are in a break-even position, about 37.7% of them are in a loss or “out of the money.”

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Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.