Korean exchange Upbit raided by prosecutors

posted 7 months ago
Prosecutors in South Korea have reportedly raided the largest cryptocurrency exchange in the country, UPbit.

Investigators from the prosecutors' office of Seoul searched the head office of the exchange on May 10th.

UPbit is suspected of fraud for allegedly selling cryptocurrency to customers that it does not actually hold, according to the report.

The prosecutors' office stated:

"We have secured hard disks and accounting books through confiscation. Analysis is expected to take days."
Tags: news, bitcoin