S. Korean Crypto Exchange UPBit Passes Audit, Proves Solvency
Posted: Sun Aug 05, 2018 3:50 pm
South Korean exchange UPbit has passed its audit, showing full solvency. A report from Yoojin Accounting Corporation show that UPbit’s reserves ratio stands at 103 percent and cash ratio stands at 127 percent.
UPbit originally requested the audit after local authorities raided the company and seized its servers in May. Cryptovest reported that the exchange was raided several times due to suspicions about price manipulation, a fraudulent balance sheet, and insolvency.
[url=https://simplefx.com/dashboard/?utm_source=financemagnates.com&utm_medium=pr26062018&utm_content=SFX&utm_campaign=FXmedia]Time to buy the dip?[/url]
“We Are Able to Pay Whenever Our Customers Wish to [Withdraw]”
“Since early 2018, UPbit created snapshots of its multi-signature wallets and funds ... (read more)