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​South Korea’s biggest crypto sell raided by authorities

South Korean prosecutors have raided a offices of cryptocurrency sell Upbit.

They have cumulative a firm’s accounts and annals from a mechanism systems. Prosecutors are questioning either a association defrauded business by claiming it had cryptocurrency and electronic wallets that it didn’t have.

In a matter posted on a homepage, Upbit reliable it was being investigated by prosecutors and was auxiliary with authorities. The sell stressed that all patron services were accessible and their accounts safe.

Kakao, South Korea’s largest discuss app firm, is estimated to possess over 20 percent in shares of Dunamu.

The cyrptocurrency organisation named Lee Sir-goo a CEO final year in December. Lee was one of a strange members of Kakao when it launches a services in 2011 and during one time a co-CEO.

Upbit launched final year in October. By December, it pronounced it had 1.2 million subscribers, one million normal daily users and an normal daily transaction of 5 trillion won (around US$4.8 billion).

This is a many high-profile raid on a cryptocurrency sell to date in a country, though not a first. Last month, prosecutors arrested a trainer of Coinnest over purported piracy and fraud.

The supervision progressing this ruled out a sum anathema on cryptocurrency after a marketplace exhilarated adult though vowed for some-more clarity in dealing.

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