Topic: Bithumb In Trouble, Police Raids Exchange for Second Time In One Week - page 2. (Read 336 times)
September 09, 2020, 09:07:30 AM
I was talking actually to someone that used to work for Bithump and he told me today there is absolutely nothing to worry about and Bithump is still open and operational. I know that last week's KOREA FUD seemed to help with BTC price tanking but I think the dump was just a coordinated effort by whales to take profits on the last couple of months altcoin rises. It's always the same, so Bithump was just an excuse to help the market crash to the point the whales wanted to coincide also with the CME futures.
September 09, 2020, 08:04:57 AM
Anyone using this exchange? I always thought Bithumb to be trustworthly. Which exchanges are safe according to you?
News article
For now, it doesn't sound that bad. It's a suspicion, they were not determined to be guilty. Moreover, it's about a token on their exchange, so it could be an honest mistake on their part with not doing their research. Or maybe it's indeed fraudulent activities, but the whole exchange cannot be blamed for them. Maybe some people were involved, and they will be convicted, but it's one of the biggest exchanges out there, and I don't think it's a bad exchange overall. Of course, you can never be too safe, so I would move money from Bithumb if I had any money there, but I don't think they'll pull an exit scam or something like that. News article
September 09, 2020, 07:17:54 AM
It's because they violate some aggremeent afaik, and it's Bithumb Korea, not the global one. I use the global one and so far found no issues.
But as always, no exchange is trustworthy. Better to be safe than sorry.
South Korean government are fastly change their law regulations on crypto. It happens a few times as I know.But as always, no exchange is trustworthy. Better to be safe than sorry.
Agree with you that people have to be responsible for their capital, choose good exchanges but never store all capital on any account, any exchange. Should have a part of capital in non-custodial wallet like a saving.
September 09, 2020, 06:48:38 AM
Some things to consider here :
1. The police is trying to protect the local investors
2. They might be involved with frauds
The things is if the government is going to allow cryptocurrencies to co-exist there will be some regulations on the way and it is to protect the general public. It was the fault of the exchange here for sure they did something wrong since it was not the first time.
Therefore I would recommend you :
1. Stop using this exchange even if you are involved with the global one.
2. Use exchanges like : coinbase ; Binance or you can even use your local exchanges.
Plus this is an important news and I do believe that the governing body is one ; be it South Korea be it someplace else therefore even a small mistake on the part of the company can cause problems for the investors.
1. The police is trying to protect the local investors
2. They might be involved with frauds
The things is if the government is going to allow cryptocurrencies to co-exist there will be some regulations on the way and it is to protect the general public. It was the fault of the exchange here for sure they did something wrong since it was not the first time.
Therefore I would recommend you :
1. Stop using this exchange even if you are involved with the global one.
2. Use exchanges like : coinbase ; Binance or you can even use your local exchanges.
Plus this is an important news and I do believe that the governing body is one ; be it South Korea be it someplace else therefore even a small mistake on the part of the company can cause problems for the investors.
September 09, 2020, 06:12:00 AM
It's because they violate some aggremeent afaik, and it's Bithumb Korea, not the global one. I use the global one and so far found no issues.
But as always, no exchange is trustworthy. Better to be safe than sorry.
But as always, no exchange is trustworthy. Better to be safe than sorry.
September 09, 2020, 04:32:53 AM
Anyone using this exchange? I always thought Bithumb to be trustworthly. Which exchanges are safe according to you?
News article
News article
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