South Korean cryptocurrency exchange Coinone has started investigating the dispute surrounding the NFPrompt (NFP) token, which saw a 70% price drop on its platform, while prices remained stable on global exchanges.

Reasons Behind Coinone's Investigation

In March, the price of the NFP token fell significantly on Coinone, while on international cryptocurrency exchanges, the price changes were not as pronounced. Coinone has hired South Korean and Canadian law firms to investigate this case. The decision to initiate a probe also came after South Korea's examination of the AVAIL token situation.

NFP Foundation's Hack Allegations

The NFP Foundation reported a hack before the token’s price drop on Coinone. However, Coinone stated that NFP tokens were correctly distributed without any violations.

Current Situation and Outlook

At the time of writing, the NFP token is trading at $0.2303, down 5% from the previous day. It has declined by 1.15% over the past week but has increased by 1.91% over the past 30 days. The significant 46% drop in trading volume indicates diminishing community interest in the token.

The investigation into the NFP token case may lead to changes in trading and token distribution regulation on cryptocurrency exchanges. Coinone continues to examine issues related to the distribution of NFP, providing additional data to local and international agencies.