finally prices going up! Bithumb is currently getting audited from government

[batman14]

Hi I am korean, living in US.

I am checking the live news from Korean news website.

Currently Korean government is auditing and investigating Bithumb and other currency exchanges.

They have found out some illegal activities, will lock up funds and come up with strict regulations in few days.

Before "kimchi premium" goes away, people are trying to sell all their coins and re-buy when kimchi premium goes away.

That's why the prices have dropped.

Now everything seems to be settling and it looks like prices are starting to back up to where they were used to be.

This is what I think... so invest at your own risk!

[Skyl0n]

Good to know, thanks for sharing the info. I will do my investigation

[Bitlover91]

one of the reason of current drop was the China's announcement about closing the Bitcoin mining in china.
so that was the second reason you mentioned.

[triciaa478]

If is true korea government is going to regulate the korean exchange market then it might seen crypto currencies going down for a short term but traders of crypto in the meantime might discover new ways to deal with crypto. But I wonder what illiegailties did Bithumb involve, did they failed to follow due process of customer verification and AML /KYC issues taken lightly? then the government might be right t o set in.

[Gasolinux]

This link seems to say it's related to tax evasion related to their commissions, and the fact that they "raised" them?

http://biz.khan.co.kr/khan_art_view.html?artid=201801101838001&code=920100

I wonder if there are also cases around people directly involved into the platform (investors, shareholders...) hyping up some specific coins to pump it up and dump.