South Korea’s largest exchange suspected of fraud – media …

South Korea’s largest exchange suspected of fraud – media

Korean law enforcement officers conduct searches and seizures in the office of the country’s largest exchange Upbit, writes Crypto of Korea portal.

By him Information, a financial investigation team from the Seoul Southern District Attorney’s Office visited Upbit headquarters on May 10 and 11, withdrawing hard drives and accounting records.

Prosecutors argue that company transferred money with accounts users to separate accounts. These accounts are believed to belong to the Upbit management.

Seoul Prosecutors Investigate Local exchanges cryptocurrencies since March of this of the year. In April were detained four heads of Korean cryptocurrency exchanges, Tom including Coinnest, which suspected of embezzlement client funds.

South Korea's largest exchange suspected of fraud - media ...

Despite then, what in the present time information about events taking place on the exchange from more reliable sources missing, it should be noted that, according to CoinMarketCap data, bitcoin on Upbit traded about $ 300 lower than Bithumb, and $ 200 lower than Bithumb than on most Western exchanges, while traditionally on Korean exchanges this indicator is higher than where-or yet in the world.

A Reddit user reports that he does not can withdraw their funds with Upbit (post has been deleted).

South Korea's largest exchange suspected of fraud - media ...

UPD: Information on Upbit’s ongoing investigation confirms popular korean news Etoday portal.

UPD2: This information is also confirmed by leading Korean media Chosun..