The analysis will take some time.” The prosecutor suspects that the executives from Upbit are diverting funds and the investigation is focused on the CEO of Upbit, Lee Seok-woo.

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 began when the suspicion arose that the executives could have bot operating without having the ongezouten custody of the funds of the cryptocurrency exchange’s clients.

The FSC and the Korean Financial Intelligence Unit (KoFIU) recently pronounced a snaak investigation into the corporate accounts ter Korean banks of the crypto exchange.

Upbit, the largest cryptocurrency exchange of South Korea, might soon find itself ter good trouble if investigators and particular police are able to prove te court that the cryptocurrency exchange committed fraud. The police are accusing Upbit of faking its vaivén sheets and te the process deceiving fairly a significant number of investors.

After Kakao’s latest announcement to launch a blockchain toneelpodium, fraudsters already hopped te to pineut people with a fake ICO of Kakao Coin.

South Korea’s largest cryptocurrency exchange Upbit is following Binance’s path by asking its vast user saco to point out shady multi-level cryptocurrency schemes, or even fraudulent ICOs, ter exchange for a prize.

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The enhancing number of scams ter the unregulated cryptocurrency sectors has coerced the massive community to be its own watchdog and the involvement of the established firms te the sector for the same purpose is truly good news.

Bitcoin and Other Major Coins to Begin Korea Joongang Daily reports that “during the initial stage of the service, Upbit will mainly treat bitcoin and other major alternative coins such spil ethereum, ripple and litecoin with trading volume exceeding a certain amount.

Companies of all kinds are looking to get te on the cryptocurrency exchange: retailers are increasingly accepting digital token payments for their goods or even launching their own cryptocurrencies. Now, South Korea’s largest instant messaging toneel is looking to commence a fresh cryptocurrency exchange.

EOS MAINNET LAUNCH

What is EOS: Ethereum Operating System(EOS) wasgoed developed by Block.one, which comes with Dan Larimer, who previously invented Bitshares and co-founded Steemit. EOS is an ethereum based token which interacts with the Ethereum Blockachain with the main aim of solving scalability kwestie of ethereum which helps te quicker confirmation of transactions.

EOS Technical Analysis: (EOS

EOS is making a pauze for it, presently surging overheen 26% ahead of BTC on the back of fresh support from South Korean investors. At the time of writing, Upbit and Bithumb exchanges are collectively responsible for overheen 42% of EOS trades, against their native KRW currency. Wij&rsquo,ve seen a loterijlot of surging pump and dump behaviour from this particular nation before, namely the Bitcoin Specie and Ripple surges, where price deeds ballooned by overheen 100% te their opening bull runs before harshly correcting.

Upbit Awards 1 Million Won to 6 Reporters of Fraud

Upbit, one of the largest cryptocurrency exchanges ter the world, has awarded 1 million won ($929) to six people for reporting fraudulent cryptocurrency-related schemes.

Upbit is based ter South Korea and accepts only residents of South Korea who are above the age of Legitimate spil customers. The fact that it treats more than $300 million worth of cryptocurrency trading daily (according to coinmarketcap.com) shows how popular cryptocurrency trading is te the country.