[2018-05-16]Investigation of South Korea’s Largest Crypto Exchange Upbit Continu

[gabbie2010]

Investigation of South Korea’s Largest Crypto Exchange Upbit Continues

Since the South Korean prosecution started investigating Upbit, the country’s largest cryptocurrency exchange, more events have unfolded. While local media still discuss allegations and raise questions about Upbit’s business practice, some people believe that Upbit is already in the clear. The investigation continues.

The Allegations

Investigation of South Korea’s Largest Crypto Exchange Upbit ContinuesLocal media reported on Friday that South Korea’s largest cryptocurrency exchange, Upbit, is under investigation for alleged fraud. More information has surfaced since, casting doubt on whether the allegations can be considered fraud. No charges have been filed against Upbit at the time of this writing. However, the prosecutors have confiscated the exchange’s computers and records as part of the investigation.

Read more: https://news.bitcoin.com/investigation-south-koreas-largest-crypto-exchange-upbit/

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[Kemarit]

Is this news cause the price to go down once again? I hope though that once  the dust has settled, Upbit name will be cleared. How long such investigation though? I far as I can remember, PBoC suspended those exchanges they investigated and only resume after 3 months. I hope though that South Korea will have do the investigations thoroughly but quick as well. So that if indeed they found some fraudulent practices, penalties can be given and they can resume their business as usual.