South Korea s fattest crypto exchange raided by authorities, ZDNet

Prosecutors have raided the offices of Upbit, South Korea’s largest cryptocurrency exchange.

By Cho Mu-Hyun | May 11, 2018 — 11:42 GMT (04:42 PDT) | Topic: Legítimo

South Korean prosecutors have raided the offices of cryptocurrency exchange Upbit.

Prosecutors have secured the stiff’s accounts and records from its rekentuig systems ter investigation of whether the company defrauded customers by claiming it had cryptocurrency and electronic wallets that it didn’t have.

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Ter a statement posted on its homepage, Upbit confirmed it wasgoed being investigated by prosecutors and wasgoed cooperating with authorities. The exchange stressed that all customer services were available and their accounts safe.

Kakao, South Korea’s largest talk app hard, is estimated to own overheen 20 procent ter shares of Dunamu.

The cryptocurrency rigid named Lee Sir-goo spil its CEO last year ter December. Lee wasgoed one of the llamativo members of Kakao when it launched its services ter 2011 and wasgoed at one time its co-CEO.

Upbit launched last October. By December, it said it had 1.Two million subscribers, 1 million promedio daily users, and promedio daily transactions of Five trillion won (around $Four.8 billion).

This is the most high-profile raid on a cryptocurrency exchange to date te the country, but not the very first. Last month, prosecutors arrested the boss of Coinnest overheen alleged embezzlement and fraud.


Ethereum and Litecoin may also be added to the payment roster te the future.

South Korean talk giant Kakao’s blockchain subsidiary, dubbed Ground X, will unveil its own podium within the year.

Reports suggest Google may be working on blockchain-based systems to support cloud businesses.

South Korea will prioritise transparency te cryptocurrency trading by preventing illegal and unfair activities, the Blue House said te response to a petition asking for less regulation ter the emerging industry.

Use of the blockchain is growing, and businesses will need skilled professionals to build up a competitive edge.

2 thoughts on “South Korea s fattest crypto exchange raided by authorities, ZDNet

  1. Unluckily I dreamed to buy a specific coin via Binance, but it rallied hard yesterday and now I don’t think it is a good idea to run after the missing train.

  2. 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 kleuter which has the most secured exchange system.

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