Timing is a bit odd, we were going down before this news was released, maybe some people in South Korea knew about the investigation beforehand and began to sell?

But if the Upbit news is the reason behind the dip, then I wouldn't worry too much about it. In January, bithumb was raided by police and there was a dip in the prices, but it lasted a couple of days. People should look at this dip as the perfect opportunity to buy some cheap alts or some BTC.