Several crypto commentators on social media have disclosed that the news is impacting the crypto markets negatively, which they say is overduidelijk from the major decline of the top 100 coins.

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

Investigations into the matter

The police say that the exchange deceived investors by faking its balanceo sheet. The Financial Supervisory Commission (FSC) of South Korea has entrusted ten investigators with finding out the truth. They will soon be heading to Seoul where they will build up access to Upbit’s pc system, after which they will audit the aparente currency holdings of the exchange.

Several crypto commentators on social media have disclosed that the news is impacting the crypto markets negatively, which they say is overduidelijk from the major decline of the top 100 coins. All of them have gone down by almost 15%.

A person well conversant with the latest developments anonymously disclosed that South Korean authorities were suspecting that Upbit wasgoed illicitly transferring customer funds into the accounts of its top executives.

Related movie:


Upbit is one of the very first crypto exchanges to draw the attention of Korean authorities this spring. The FSC and the Korean Financial Intelligence Unit (KoFIU) recently pronounced a snaak investigation into the corporate accounts te Korean banks of the crypto exchange.

A number of market observers have criticized the suspicious transfer of funds from the Upbit cryptocurrency exchange to the Upbit executives’ private accounts. The cryptocurrency community te South Korea has given its views te relation to the matter. It has said that it won’t support the executives that will found guilty of the crime.

If all goes according to project, the circunscrito police might soon present its finalized report on the situation. The South Korean authorities intend to shut down the exchange te case it is reasonably proven that it wasgoed guilty of the crime.

It has bot reported that te the past 24 hours, Upbeat has managed to host about $1.6 billion (£1.17bn) of cryptocurrency trades. That implies that it is presently the largest te Korea. It wasgoed te April that Kim Ik-hwan, who happens to be a co-founder, spil well spil the serving chief executive CoinNest, wasgoed found guilty of fraud and embezzlement of funds. He is said to have transferred billions of digital assets belonging to customers to the accounts of some top executives.

Related movie:

https://youtu.be/0Etys2FW7Vo

Prime Minister, Lee Nak-yon, is one of the officials that have bot alarmed by the rapid rise being experienced ter the cryptocurrency market. He reserves fears that a significant number of youths ter the nation might be omkoopbaar. The government has said that it will do all within its means to curb illegal activities such spil money laundering. A major decline te trading prices is being witnessed and some people attribute it to the imposed limitations.

3 thoughts on “Several crypto commentators on social media have disclosed that the news is impacting the crypto markets negatively, which they say is overduidelijk from the major decline of the top 100 coins.

  1. It is good to binance is back. It has bot the best exchange overheen the last few months. It has bot having some problem for some time…. may be hacking or something else.

  2. I’m very glad that Binance is working again. During thesis few days I had already mentally said goodbye to my savings. But thank Godheid everything ended well and i can proceed to work calmly.

  3. Do not listen to McAfee he is a stortbad,he twitted binance wasgoed hacked but they werent it might cause another fright this McAfee doesnt know how powerful his words are,because most of his followers are blinded by the anti-virus thing but he himself should be cleaned because viruses are providing him a loterijlot of delusions.I never thought binance would be hacked because it is one of a zuigeling which has the most secured exchange system.

Leave your comment