Sadly, the beginning of the end for Bithumb has already begun. This is going to be all spiral downward for the country's top cryptocurrency exchange. Beginning from the first raid which was almost immediately followed by a second raid. And now the enforcing of the seizure.
Bithumb traders will probably be leaving in large number from this exchange. I would do the same if I have an account in there. This platform could close anytime.
Well this is really a black eye for Bithumb since they have carved a name in crypto space as far as trading exchange is concern. And when one door closes, another opportunity opens to maybe another exchanges will open up to fill the void for our South Korean traders or they are just going to move to other local exchanges. Or we don't know, maybe there will be take over with new management and rebrand everything and then continue their stay in the South Korean crypto platform game.