Friday 11 May 2018
Upbit, the fourth largest cryptocurrency exchange in the world, is under investigation for charges of faking its balance sheet and deceiving investors. The exchange’s office in Seoul, South Korea, was raided by 10 investigators from the country’s Financial Supervisory Service (FSS) at 10 AM KST today, local publication Chosun reports. The investigators have reportedly seized Upbit’s computers and account sheets to review the company’s cryptocurrency holdings. While the authorities have not yet pressed charges or released a full report of the investigation, it appears that Upbit users are withdrawing their funds from the exchange desk en masse, according to market data. South…
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