Allegations of Upbit listing deal surface in Lee Hee-jin's fraud trial

Allegations of a backroom deal between Dunamu and Lee Hee-jin for coin listings on the Upbit exchange have emerged during Lee's trial, JTBC reported. Lee, known as the "Cheongdam-dong stock millionaire," is on trial for a 90 billion won ($65.2 million) cryptocurrency fraud scheme. According to the report, Lee met with Dunamu's Chief Operating Officer, identified by his surname Jeong, in a hotel suite in Gangnam, Seoul on July 1, 2020. One week later, on July 8, GOM2, a coin held under a borrowed name by Lee, was listed on Upbit. Another of Lee's coins, PICA, was listed six months later in January 2021. Dunamu told JTBC that the meeting was based on a past relationship and a belief that Lee had turned over a new leaf, denying any solicitation related to the listings.