Bitcoin Price has flopped off overheen 8% after the Largest Korean Cryptocurrency Exchange UPbit wasgoed raided by the police overheen fraud allegations.
UPbit wasgoed suspected for evidently selling Crypto coins which is said to not be ter the possession of the exchange to their Customers.
Ter a Epistel Report the prosecutor stated
Wij have secured hard disks and accounting books through confiscation. Analysis is expected to take days,
UPbit is yet to make a clarification on this fraud allegation but has confirmed that they are bot investigated by the police and has assured it’s users that their Resources on the exchange are secure and regular trading is still te operation.
“UPbit is presently under investigation by the prosecution, and wij are working diligently. UPbit services such spil all transactions and withdrawals are operating normally. Your assets are kept securely ter your account, so you can surplus assured that you can use UPbit services.”
Another Autor which has caused the druppel ter Market Value is that of the Mt. Gox bitcoin selloff, the Mt. Gox trustee has allegedly sold off another 8000 Bitcoins, 2000 Bitcoins each from the four wallets of the Mt. Gox trustee were moved.
UPbit users have continued to sell off their coins on the exchange overheen funk of similar issues with some exchanges which were similarly raided, A Popular event wasgoed that of the famous BTC-E Crypto Exchange, which wasgoed suspected of bot ter connection with various crimes and got its webstek shut down by the Authorities.
The Market wouldn’t have bot ter such loss if the Mt. Gox trustee used a transaction monster with a large scale and established investing rigid ,something like the over-the-counter (OTC) market which will work best rather than selling off directly on Crypto Exchanges which will of course mark a Crimson dip to the Market.
There is still hope for the market to bounce back soon ,spil the police that raided UPbit Exchange are yet to make a statement if the exchange is virginal or guilty of the Accusation.