Prosecutors te South Korea are looking into the activities of a top cryptocurrency exchange, Upbit.

Before the clampdown, South Korea wasgoed something of a ground zero for the total crypto-mania. The deeds occurred spil crypto enthusiasts around the world are wrestling with regulatory concerns and spil more mainstream financial institutions are beginning to come in the space.

While the authorities have not yet pressed charges or released a total report of the investigation, it shows up that Upbit users are withdrawing their funds from the exchange desk plus masse, according to market gegevens.

The exchange stressed that all customer services were available and their accounts safe.

The exchange support webstek had a notice confirming the investigation: “UPbit is now under investigation by the prosecution, and wij are working diligently”. The company partnered with Bittrex, one of the world’s largest cryptocurrency exchanges, to launch Upbit past year. “All the services of Upbit are operating normally and the traders’ assets are securely stored ter your account, so wij ask our customers to be at ease using our service”.

While the authorities have not yet pressed charges or released a total report of the investigation, it emerges that Upbit users are withdrawing their funds from the exchange desk plusteken masse, according to market gegevens.

Before the clampdown, South Korea wasgoed something of a ground zero for the universal crypto-mania. The deeds occurred spil crypto enthusiasts around the world are wrestling with regulatory concerns and spil more mainstream financial institutions are beginning to inject the space.

While the authorities have not yet pressed charges or released a total report of the investigation, it emerges that Upbit users are withdrawing their funds from the exchange desk plusteken masse, according to market gegevens.

This is nothing fresh ter the world f cryptocurrency, spil exchanges te that neck of the forest tend to generate a high amount of trading volume virtually every other day.

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The current cryptocurrency market situation looks far from promising. That is not entirely surprising, spil a declining Bitcoin price always hauls alternative currencies with it sooner or zometeen.

This avoids the fluctuations ter the price of cryptocurrencies.

Bitbond, a German online handelsbank that lets clients transfer loans around the globe using bitcoin, has officially launched. It wasgoed licensed spil a handelsbank ter and has gained many more investors since then.

Reuters, citing founder Radoslav Albrecht, reported that Bitbond uses cryptocurrencies like bitcoin to get around the Swift international transfer system te order to lend money globally at a lower cost and ter a swifter time framework.

Inews 24 reports “there are concerns that Upbit, which is the number one player te Korea, is not participating ter the Blockchain Association’s self-regulation.” The news outlet also added that this could undermine efforts made by the industry.

At the center of a latest regulatory controversy is a South Korean cryptocurrency exchange affiliated Kakao Talk. Upbit is the only remaining major exchange ter Korea which hasn’t joined the others ter support of self-regulation – their agreement with Bittrex presently raises the question of how the said regulation would apply to them.

Upbit Under Investigation By Police Chosum, a regional 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.

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 Bankgebouw of America has taken against Bitcoin and more.

Upbit Under Investigation By Police

Chosum, a específico 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.

Similar raids were reported at three other exchanges te March, including a raid at the Coinnest exchange.

Posted on May 11,

Authorities te 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 emerges to have contributed to a broad decline te cryptocurrency prices on Friday.