The market dipped. The South Korean police conducted searches in the office of Upbit crypto currency exchange

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2018-05-12 19:30:04

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The market dipped. The South Korean police conducted searches in the office of Upbit crypto currency exchange

In early April, South Korean police detained the head of the exchange Coinnest, which ranks fifth in the country in terms of trading. Now police have launched an investigation against the country's largest cryptocurrency exchange Upbit. The consequence of suspects cryptobinary the company of fraud in especially large size, writes .

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Stealing cryptocurrency from the exchange. Version South Korea

In the framework of the search, investigators confiscated hard drives with information on customer data and data on capital Upbit. South Korean police believe that the management of the company falsified the balance sheets of the exchange cheated customers, and transferred funds to their own accounts.

Upbit is not the first cryptocurrency exchange in which the South Korean authorities conduct searches lately. In March, a financial Prosecutor's office Korea's KoFIU and regulator FSC checked corporate accounts cryptoolinux organizations in Korean banks on suspicion of money laundering.

The Market has responded to searches in Upbit negative — the exchange rate of Bitcoin fell more than 7 percent to $ 8230 per coin. The cost of the Ethereum decreased to 683 dollars.

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