Bitcoin Drops to 3-week Low, Other Cryptocurrencies Plunge After Prosecutors Raid Largest Korean Exchange

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Published on :

12 May, 2018

Bitcoin fell 5.5 percent to $8,511, its lowest since April 20, according to CoinDesk's bitcoin price index.

Other major cryptocurrencies fell double-digits over the last 24 hours, according to CoinMarketCap. The fall appears to have coincided with the raid of South Korea's largest cryptocurrency exchange UpBit.

"UpBit is currently under investigation by prosecution, and we are [cooperating] diligently," the South Korean cryptocurrency exchange said on its website.

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