Friday, 11 May 2018

A sharp decline in the crypto markets

Posted by Anonymous at 16:27 Labels:

On Friday, cryptocurrency markets are trading under strong pressure amid news from South Korea. It is reported that police came to the office of the largest crypto-exchange of South Korea - UPbit. South Korean authorities suspect that UPbit illegally moves clients' funds to the other account.

On 10 May, Seoul's local police and investigators from the Korean Financial Intelligence Service (KIU) and the Korean Financial Services Commission (FSC) raided the UPbit headquarters and occupied offices to conduct an official investigation of suspicious fund movements from UPbit-encrypted withdrawals to personal accounts of UPbit workers.

It is also reported that the South Korean police is investigating allegations of fraud and illegal transfer of funds from client wallets.

Local police still have to publish their final report on the situation. But, as in the case of Coinnest, if the South Korean authorities find explicit evidence in the movement of customer funds to external accounts, this can lead to the fact that the exchange will be permanently closed.

The general reaction of the crypto-market to the events in South Korea is extremely negative. The main cryptocurrency of the market - Bitcoin declined by 4 percent, Ethereum has lost more than 7%, Litecoin dropped by 6%.

FortFS

2 comments :

  1. Unknown3 June 2018 at 00:28

    With the digital world growing at a rapid pace, new forms of marketing have emerged. One of it is Digital Marketing. We have to be constantly in search of newer tools to improve our marketing techniques and credibility in the market. Alex Mirza

    ReplyDelete
  2. Ronaldwick10 May 2019 at 14:22

    Interesting article! Thank you for sharing them! I hope you will continue to have similar posts to share with everyone! I believe a lot of people will be surprised to read this article!
    Web: Best essay writing service reviews

    ReplyDelete

Subscribe to: Post Comments ( Atom )