South Korea Stock Exchange Successful UPBit Audit

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According to a report published by Yoojin Accounting Company, South Korea-based crypto money market UPBit, which has recently been mentioned with frequent price manipulation, has successfully passed audits. According to the report, the cash rate of UPBit is 127% while the reserve ratio is 103%.
UPBit asked for the end of May, when the authorities raided the company and confiscated the servers. Various news sites have reported that the crypto money market has been under pressure several times for price manipulation, fraudulent financial statements and non-payment of debts.

"When are our customers ready to pay when they want it?"
The paragraph about the event of a local news source is as follows:
"From the beginning of 2018 UPBit has shared the image of its multi-signature wallets and stored funds. Yoojing, one of the largest accounting and audit firms in Seoul, confirmed that the amount of crypto money in UPBit's wallets is consistent with the funds in the UPBit platform. "

Lee Seok-woo, CEO of Dunamu (owner of UPBit) , said the audit was successful:
"We have more crypt money and cash reserves than we have to pay our customers. This shows our customers that we can pay them whenever they want. "The

South Korean government has not commented on this issue so far.
This successful audit was a refreshing news for the South Korean crypto money exchange industry. The South Korean market has been in serious trouble since 2017. Today, the inactive Youbit named stock market went bankrupt after a severe hacking incident.

In addition, the Bithumb Stock Exchange was attacked in July by a $ 30 million bid and suspended new customer memberships.

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