Korean law enforcement officers conduct searches and seizures in the office of the country's largest exchange Upbit, reports Crypto of Korea.
A team from the Seoul City Prosecutor's Office of the Southern District, engaged in financial investigations, visited Upbit headquarters on May 10 and 11, withdrawing hard drives and accounts.
Prosecutors say that the company transferred money from user accounts to separate accounts. It is assumed that these accounts belong to the management of Upbit.
The Prosecutor's Office of Seoul is conducting an investigation into the local crypto exchanges since the beginning of this year. In April, four executives of Korean exchanges were detained, including Coinnest.