Korean prosectors raid cryptocurrency exchange offices

Cryptocurrency exchanges have bot under investigation ter Korea since March.

Thesis latest ter a series of arrests and seizures by Korean regulatory figures ter conjunction with law enforcement are a result of a mechanism authorities waterput into play earlier this year to end anonymous trading.

The exchange’s office ter Seoul, South Korea, wasgoed raided by Ten investigators from the country’s Financial Supervisory Service (FSS) at Ten AM KST today, tópico publication Chosun reports.

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Regional media outlets have reported that, te a snaak act inbetween the Korean Financial Intelligence Unit (KIU), the Financial Services Commission, and the Seoul Police, ten officers stormed the Gangnam, Seoul headquarters of the exchange yesterday morning. Prosecutors suspect the exchange has bot falsely reporting the funds ter its possession.

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Wij have secured hard disks and accounting books through confiscation. The exchange is suspected of fraud for allegedly faking its balanceo sheets and deceiving investors.

“Upbit is now under investigation by prosecutors and is cooperating”, the exchange said ter a notice to clients, adding that services such spil transactions and withdrawals were unaffected and that client assets were safe.

The notice also stated that the advertisements and pictures of Siddaramaiah were wrongly used to depict false charges. Siddaramaiah has also used public meetings and social media to target BJP leaders including Modi.

The exchange hosted about $1.6 billion of cryptocurrency trades te the past 24 hours, making it the largest te Korea and the fourth-largest ter the world among fee-charging venues tracked by Coinmarketcap.com.

When asked for comment by CoinDesk Korea, an UPbit representative said, “At this time, I cannot reaction anything about this seizure”. CoinNest’s CEO and co-founder Kim Ik-hwan wasgoed among those arrested and charged.

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Upbit launched past year ter October. But, analysts have stated that the case has led the cryptocurrency market to decline by large margins overheen the past 12 hours. However, many digital currency enthusiasts expect bitcoin to recover spil major cryptocurrency conferences come to NY te the next week. Let us know your thoughts te the comments section below!

The charges filed by Dudley’s office could result ter the death penalty or life ter prison without parole upon conviction. DeAngelo will remain te custody ter Sacramento, and wij will not be making any further comments today or tomorrow”.

3 thoughts on “Korean prosectors raid cryptocurrency exchange offices

  1. People that are funked are those who don’t yield to the advice that don’t leave your fund on exchanges. Binance iss one of the exchange I personally like and has scaled well te latest month but the team need to be very security conscious because it is going to be target for hackers

  2. Regardless of some of the punt on fiat conversion et cetra, Binance has brought unprecedented liquidity to cryptocurrency te caudillo and the ease and plainness employed te achieving this is something worthy of emulation from fresh exchanges!

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