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Korean Government Raids Cryptocurrency Exchange Market

Two weeks ago, South Korean officers raided the cryptocurrency exchange market Upbit.

Summary:
– South Korean officers raided one of the world’s biggest cryptocurrency exchange market, Upbit.
– The raid took place just this first week of May.
– South Korea is known to be actively fighting the cryptocurrency industry.

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South Korea has been out in the open in fighting the cryptocurrency market, and just this month, their officers were reported to have busted a huge-scale cryptocurrency operations office, the Upbit.

The raid took place on Thursday and Friday, reported by the District Prosecutor of Seoul. Further details regarding the raid still can’t be discussed or divulged due to on-going investigations.

Upbit currently hosts $1.6 Billion worth of assets in the trades, which makes it Korea’s biggest and the fourth largest worldwide.

Read Shinhye Kang and Heejin Kim’s full article here – https://www.bloomberg.com.