💰 Largest South Korean crypto shown to be solvent
South Korean accounting firm Yoojin released a report showing that crypto exchange UPBit holds 100% of the required cryptoassets on its balance sheet. Earlier this year the exchange was raided by Korean regulators following claims that UPBit was insolvent and did not hold funds to back customer deposits. UPBit will now continue to release audits on an ongoing basis to prove it holds the required funds.
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