The government is now very likely to crack down on exchanges – at least ter the form of fresh regulations.

Prosecutors te Seoul’s Gangnam district have raided the offices of Upbit, arguably the country’s largest cryptocurrency exchange toneel.

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Vanaf numerous reports from South Korea’s largest news agencies, prosecution officers stormed Upbit’s offices on May Ten and 11, seizing hard drives and accounting ledgers, with police suspecting Upbit has falsified official financial records.

TRON [TRX] Listed ter Upbit, Bithumb and IDAX The largest cryptocurrency exchange ter South Korea, Upbit, trades overheen than 200 altcoins and 110 types of token transactions spil they confirm their support towards the TRON blockchain migration on 22.05.2018.

The largest cryptocurrency exchange te South Korea, Upbit, trades overheen than 200 altcoins and 110 types of token transactions spil they confirm their support towards the TRON blockchain migration on 22.05.. The exchange wasgoed launched by the Kakao Corp Team with the help of Bittrex a year back.

Upbit wasgoed waterput under pressure last week by the financial investigation team, the FSC, and the FSS after the company wasgoed suspected of transferring customer funds from their cryptocurrency exchange account to the account of a representative or an executive.

Kakao has bot seeking to stir into the cryptocurrency world, and its fresh venture is a promising step forwards.

The fresh additions to the Swings ecosystem include an instant exchange, an up-and-coming South Korean exchange and a peer-to-peer exchange based te the UK.

Sways announces its listing on no fewer than three fresh exchange services today: Evercoin, Upbit and Cryptomate.

Evercoin is an instant exchange service based ter Silicon Valley and founded by Talip Ozturk, who also created Hazelcast — an open source distributed database used by some of the largest financial services companies ter the world.

Ter order to support safe potencial currency trading, it has cooperated with total leading security vrouwen, and adopted Bitgo’s dual wallets that are trusted by numerous universal exchanges for added wallet security.

Korean fintech company Dunamu Inc., which operates a popular securities trading app called Kakao Stock, announced that it has embarked providing an open beta service for a cryptocurrency exchange called “Upbit” from October 24.

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Te order to launch Upbit, Dunamu signed an sensational partnership agreement with the U.S.

Despite a decision not having yet bot made, a large number of crypto commentators have taken to social media and suggested that the news will cause the market to fluctuate significantly.

Customers are still able to make transactions and withdrawals, according to the company who ensures that client assets are safe.

The prosecution suspects the company sold more supuesto currencies than it wielded and thus committed fraud.

The normal reaction from the cryptocurrency community ter South Korea and the integral cryptocurrency space has bot that UPBit executives should not have had the motivation to commit such crimes given that cryptocurrency exchanges have generated hundreds of millions of dollars ter profits on a quarterly onderstel since early .

Latest criticism from trascendental financial players dampened that excitement at least temporarily.

Posted on May 11,

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Authorities ter South Korea raided the UPbit cryptocurrency exchange’s offices on Thursday and Friday, according to numerous media reports. Prosecutors reportedly believe that the exchange had deceived customers by selling digital currencies that it did not hold. News of the raid shows up to have contributed to a broad decline ter cryptocurrency prices on Friday.