S. Korea’s Biggest Trade UPbit runs ‘Internal Audit’, scatters extortion allegations – Bitcoints

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Published on May 15th, 2018 | by bitcoin

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S. Korea’s Biggest Trade UPbit runs ‘Internal Audit’, scatters extortion allegations

S. Korea’s Biggest Trade UPbit runs ‘Internal Audit’, scatters extortion allegationsSouth Korea’s largest cryptocurrency exchange UPbit said it has conducted an internal audit that disproves suspicions of fraud, local media reported Tuesday, May 15.
Quoting the exchange’s CEO, local news outlet Naver now reports UPbit’s ledgers are “100%” in step with their wallets.
Claims that a “misunderstanding” between government inspectors over multiple wallets caused the suspicions also appear valid, social media commentators added Tuesday.
Gox trustees apparently selling a further chunk of client liquidation funds, resulting in several days of price drops.
— Korean Cryptocurrency & Blockchain News (@CryptoOfKorea) May 15, 2018 UPbit, owned by a subsidiary of South Korean communications giant Kakao, is the world’s fifth largest crypto exchange by 24-hour trade volume, seeing about $910 mln in trades on the day to press time.

Source: Cointelegraph.com

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