UPbit, one of South Korea’s largest cryptocurrency exchanges, has been accused of manipulating its order book in an attempt to inflate the exchange's .

UPbit, one of South Korea’s largest cryptocurrency exchanges, has been accused of manipulating its order book in an attempt to inflate the exchange's volume between October 2017 and December 2018. According to local media Prosecutors’ Office of the southern district of Seoul has formally charged three senior staff members, including founder Song Chi-Hyung, on charges of fraud. Allegedly executives have made fraudulent transactions, using a fake corporate account to make bogus orders worth 254 trillion won (over $226 billion).

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Executives at Korean Crypto Exchange UPbit Indicted for Fraud
Three executives of UPbit, one of South Korea’s largest cryptocurrency exchanges, have been formally charged by the country’s prosecutors.