Bad day today : Upbit suspected of fraud and another Mt. Gox sale

[kenzawak]

https://twitter.com/CryptoOfKorea/status/994830779871105025

The company is suspected of transferring customer funds from their cryptocurrency exchange account to a representative or executive account.

https://www.cryptoglobe.com/latest/2018/05/Authorities-Raid-Koreas-Largest-Crypto-Exchange/

Reports have just been released that prosecutors in South Korea have today raided UPbit - the largest cryptocurrency exchange in the country.

[Killrbit]

yea been scrweing up the market today, could just be FUD before consensus but seems unlikelly. If it gets confirmed than markets could tank very dramatically, it is right now the now largest exchange in Korea. All the china coins seem to be tanking harder

[pey]

There is no reason for a company as upbit to do such things, instead it may have been done by a team member or a hacker but not exactly by upbit if that is real.

[jagaban]

If this is true then it is a really sad one coming from cryptocurrency as it will leave a bad taste in the mouth for new investors. I expect the management of Upbit exchange to come out and release a statement to refute these allegations.

[kenzawak]

Apparently it's not the only bad news.
It seems like Kobayashi has sold another 8000 BTC in the last 24 hours.

https://cryptodaily.co.uk/2018/05/least-know-whats-killing-markets-today/

[kenzawak]

Just a misunderstanding ?

https://twitter.com/cryptomanran/status/995001338328207360

Korea, Upbit: The irregularity being investigated is in regards to liquidity issue. The issue involves sharing/ pooling liquidity with other exchanges. It seems to be that the regulators did not understand the share liquidity. My source (an employee) claims there is no issue.

[topchiiy86]

Yes these news somehow affected the market price and we fell down perceptibly, and most of hamsters started a panic sell as usually. Though I hope that market is starting to recover and it'll continue growing at least till BTC reaches $12k. This point is decisive for the next market trend.

[Siren]

yea been scrweing up the market today, could just be FUD before consensus but seems unlikelly. If it gets confirmed than markets could tank very dramatically, it is right now the now largest exchange in Korea. All the china coins seem to be tanking harder

It wasnt a bitcoin sale,this is just another fud because bitcoin price is growing again and this bastards wont like that idea thats why they are making another way to put this great coin down..

I fogot to copy ther articles that i have read here in forum about this,whats really true is this is a Bitcoin Transfer from a wallet to another wallet,but theres no selling that happens