South Korea’s largest cryptocurrency exchange, Upbit, has conducted an internal audit disproving suspicions of fraud, industry website The Cointelegraph has reported, citing reports from the local press.
It was reported last week that Upbit’s offices have been raided by South Korean prosecutors. Subsequent reports stated that South Korea’s financial regulators, including the Financial Supervisory Service (FSS), had launched an investigation into potential liquidity issues at Upbit. The reports said that the prosecutors suspected that the company sold more cryptocurrencies than the amount it had reported, a practice that is deemed illegal by the FSS.
Citing Upbit’s chief executive officer, local news outlet Naver yesterday…
