UpBit: Koreas Largest Exchange Raided Causing Panic and Speculation and PoTJ Update...

moemanmoesly (67)in #crypto • 7 years ago (edited)

Today is a sea of red on coinmarketcap.com and the reason it seems is the news of Koreas number one exchange UpBit being raided by the authorities which seems to have caused widespread panic and triggered a sell-off.

According to sources the authorities have confiscated hard drives and other hardware with the intention of uncovering alleged fraud relating to the sale of cryptocurrency of which they are accused of not having.

_|Source|

Upbit confirmed this news on their website with the following:

"UPbit is currently under investigation by the prosecution, and we are working diligently. UPbit services such as all transactions and withdrawals are operating normally. Your assets are kept securely in your account, so you can rest assured that you can use UPbit services."

_|Source|

Despite the fact that we are experiencing a sell-off i think this could spur a bounce and even result in a test of the $10,000 psychological barrier in BTC, once people realise that this latest news is a nothing burger i would expect people to start pouring back in.

PoTJ

Even with the latest shake up in the speculative coin space the smart contract economy remains unaffected with DAPPS like PoTJ making a gain of around 20 ETH in the last 24 hours taking the total to 421.5828 ETH.

PoTJ is gathering steam with multiple articles being published, there are also developments in the pipeline to create an even more user friendly experience.
I have mentioned PoTJ previously in the below posts if you would like to learn more:

Decentralised Applications (DAPPS) and POTJ...
Trevon James Making His Return to Youtube...
DappRadar: The Coinmarketcap of the Smart Contract Economy...
The Merkle publishes an article on PoTJ...

If you would like to browse the website or purchase some PoTJ consider using my masternode link HERE.

Thanks for reading and if you found this interesting consider upvoting, following and resteeming.

P.S. If you are interested in buying or selling Steem consider using my link and sign up to Binance.

P.P.S. MannaBase is the first cryptocurrency to implement a universal credit scheme sign up using my link and receive free Manna.

_{POTJ Masternode}

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7 years ago in #crypto by moemanmoesly (67)

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wstanley226 (58) 7 years ago

Bad news! South Korean exchanges are MM. India has to pick up a lot of slack!

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