Law enforcement agencies of South Korea visited on the largest cryptocurrency exchange in the country, UPbit.

As reported by CoinDesk Korea, the Prosecutor’s office of the southern district of Seoul was looking for 10 and 11 may the head of the exchange in the Gangnam area. UPbit was suspected of selling cryptocurrency to customers of assets that actually the company never existed.

The Prosecutor’s office of the southern district of Seoul:

“We confiscated hard disks and account books. The analysis will take a few days.”

At the moment the representative UPbit told journalists CoinDesk Korea, he could not give detailed comments on the incident.

“At the moment I can not say anything about the seizure.”

The South Korean authorities continue to investigate the activities of the cryptocurrency exchanges on the subject of possible criminal activity in the framework of the introduction of more stringent regulatory standards.

In March law enforcement bodies of the Republic of Korea visited the offices of three unnamed cryptocurrency exchanges whose employees is suspected of stealing cryptocurrency of funds from accounts of its clients.