Now, tell me, do you think what happened to Bithumb is one common thing in everyday corporate environment and that everything is business as usual as far as the users are concerned?
A single raid by the police is bad. A repeated raid is worse. The case is no simple thing. It was a $25.2 million fraud case. Not to mention that just last year Korean authorities also ordered the exchange to pay $69 million in withholding tax.
On the contrary, its business as usual as Bithumb's trading activity is doing good as per CMC data which more likely depicts its users sentiment towards the exchange.
Which honestly puzzled me and made me ask whether the traders of Bithumb are real people or just bots, or whether the volume in coinmarketcap is simply created by wash trading and is therefore fake volume. Personally, if I am in their shoes, I would definitely leave Bithumb and move to a safer exchange which is free from legal glitches.
So I think users will be more concerned if Bithumb had been hacked and not these corporate issues being negatively amplified by social media as part of a demolition job to hurt the exchange's image. I think in the end, it will be its users who will decide its fate. Imho.
These are not simple corporate issues. These are legal or criminal issues. And I don't think the reports coming out in the media are part of a demolition job.
I agree. Let the users decide their own fate with the exchange in the face of all these developments.
i have to agree with you here. if i have funds on that exchange, i have already pulled it out before it becomes too late. we dont know the truth about those figures shown in CMC. better not trust those numbers.
Unfortunately, I am worried about my investments in this exchange. I participated in the staking Proxi Credit on Bithumb, will this exchange close, will I get my money back or will it be confiscated by the Korean government?
This sucks, hope it's not the next 'btc-e'.
in my opinion, better pull your investments out. is there some sort of time period before you can pull out your money? with the legal things happening with bithumb, you need to make sure that your investments are safe. and right now, i dont think you are in safe side. is there an insurance option in bithumb like the SAFU of binance?