Wij discuss Upbit and the investigation into their alleged fraud, the stand Canap of America has taken against Bitcoin and more.

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 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 ter the world), is being investigated by police for alleged fraud.

UPbit is the largest digital currency exchange ter South Korea by trading volume and ranks fourth among the world’s fee-based crypto exchanges.

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 te cryptocurrency prices on Friday.

Weiss rating is a company that can lightly skew investor inclinations if they give a oportuno forecast and right now, their eyes are set on high performers, one of them is EOS.

Of course, news of UpBit involvement ter fraud is shocking and more so spells doom for EOS and Tron coin holders. This is because the majority of the exchange’s trading volumes come from the latter’s request or liquidation. It’s a definite EOS, Tron and Litecoin sell signal visible for everyone here.

Users of the 30 cryptos on UPbit that are yet see independent wallets integrated by the exchange, cannot invest or withdraw the tokens directly from UPbit and have to exchange the assets to other cryptocurrencies like Bitcoin and Ethereum before withdrawing.

Korean law enforcement officers conduct searches and seizures ter the office of the country’s largest exchange Upbit, reports Crypto of Korea.

A team from the Seoul City Prosecutor’s Office of the Southern District, engaged ter financial investigations, visited Upbit headquarters on May Ten and 11, withdrawing hard drives and accounts.

Late last year, he wasgoed nominated spil the fresh chief of Dunamu , Upbit’s technicus.

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

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.