10 and 11 may at the headquarters of South Korea’s largest cryptocurrency exchange Upbit were searched. Police seized hard drives and data accounts. This was reported by the Crypto edition of Corea.
The operation was carried out by the staff of Prosecutor’s office of Seoul, which is engaged in financial investigations.
According to the newspaper, police suspect Upbit fraud. In particular, the fact that the company transferred money from clients ‘ accounts to a separate account, which, presumably, belongs to one of the leaders of the exchange.
Information about the investigation against Upbit confirmed the leading Korean publication Etoday and Chosun.
An official statement on this matter was available.
Recall that the Seoul Prosecutor’s office launched an investigation against the local cryptocurrency exchanges in March 2018. In April suspicion of embezzling billions of won were detained four leaders of the two kryptomere. Press reported the name of only one of them: it’s Kim IK-hwan (Kim Ik-hwan), head Coinnest, the fifth largest crypto currency exchange of the country.
It is worth noting that in March Upbit launched a system to reward users for information about multi-level fraudulent schemes related to cryptocurrency and ICO. At that time, the company said it has already found 20 of these schemes and report them to the police.