The hechtenis followed shortly after the Korean government passed down regulatory guidelines for cryptocurrencies te the country and began auditing their activities.

Business

By Cecille den Jesus

May 11,

The news caused users to withdraw their funds plus masse from the exchange.

Upbit, South Korea’s largest cryptocurrency exchange—and the world’s fourth largest, has bot invaded by investigators following accusations of falsifying arqueo sheets to deceive investors.

The news had a negative influence te the overall market, causing a normal loss with up to 15% on some coins.

Today on Bitcoin This Week wij have a weekly recap of Bitcoin news. Wij discuss Upbit and the investigation into their alleged fraud, the stand Handelsbank of America has taken against Bitcoin and more.

Upbit Under Investigation By Police

Chosum, a particular news outlet has reported that Upbit, one of South Korea’s largest exchanges, and fourth by trading volume globally (making it one of the largest exchanges te the world), is being investigated by police for alleged fraud.

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The Constellation Labs DAG protocol (directed-acyclic-graph) passes listing on KuCoin Exchange, beginning trade on July Three. The project has raised $35.Two million ter January during its pre-sale. It pursues a objective to build a network with a high capacity of transactions, suitable for creating “consumer grade” applications.

My source (an employee) claims there is no punt,” the report disclosed.

The Financial Supervisory Service (FSS) of South Korea will be participating te the investigation into the country’s fattest cryptocurrency exchange UPbit.

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FSS will be aiding the Korean Financial Intelligence Unit (KIU) and Financial Services Commission (FSC) ter taking a look into the cálculo sheet of UPbit and current regulations on cryptocurrency exchanges.

Spil a result, it is rather clear that the Mt.

Korea’s fattest cryptocurrency exchange is being investigated by the regional authorities which has led to crypto prices decline.

It is reported that UPbit, South Korea’s largest cryptocurrency exchange, is being raided by the particular authorities. Investigators from the Prosecutors’ Office of the southern district of the country’s caudal firstly appeared at the head office of the exchange yesterday on May Ten.

The prosecutor’s office said: “We have confiscated hard drives and accounting books.

The regulatory entities of South Korea suspect that executives of the famous cryptocurrency exchange Upbit could have bot diverting funds to their private accounts. The investigation of the authorities commenced when the suspicion arose that the executives could have bot operating without having the rechtstreeks custody of the funds of the cryptocurrency exchange’s clients.