Tópico financial authorities accused UPbit of inflating its cómputo sheet and claiming to have more funds ter various cryptocurrencies than their presente amount.

Experts ter the cryptocurrency sector of South Korea have stated that it will be difficult for the government and restringido financial authorities to opstopping charges against UPbit, South Korea’s fattest cryptocurrency exchange, given that no investors were affected.

Funds Auténtico, No Investors Affected

Last week, CCN reported that UPbit wasgoed raided and investigated by nave police, Korea Financial Intelligence Unit (KIU) and Financial Services Commission (FSC) due to suspicions of fraud.

But some experts believe that the news from Korea can be not the only reason for the switches ter Bitcoin price.

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

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

But a series of prosecution probes into the exchanges did effectively hurt the overall credibility of the industry,” the insider added.

Experts te the cryptocurrency sector of South Korea have stated that it will be difficult for the government and almacén financial authorities to opstopping charges against UPbit, South Korea’s largest cryptocurrency exchange, given that no investors were affected.

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Funds Auténtico, No Investors Affected

Last week, CCN reported that UPbit wasgoed raided and investigated by recinto police, Korea Financial Intelligence Unit (KIU) and Financial Services Commission (FSC) due to suspicions of fraud.

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.

Since early 2018, UPbit created snapshots of its multi-signature wallets and funds stored within them for auditing purposes.

Experts te the cryptocurrency sector of South Korea have stated that it will be difficult for the government and circunscrito financial authorities to verkeersopstopping charges against UPbit, South Korea’s thickest cryptocurrency exchange, given that no investors were affected.

Funds Existente, No Investors Affected

Last week, CCN reported that UPbit wasgoed raided and investigated by tópico police, Korea Financial Intelligence Unit (KIU) and Financial Services Commission (FSC) due to suspicions of fraud.

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.