Korean Cryptocurrency Exchange Listing Fraud Rises, Bithumb said "will respond strongly"

Bithumb (www.bithumb.com), a virtual asset exchange, is aggressively responding to illegal listed brokers.

On the 9th February, Bithumb announced that it will strongly respond to illegal brokers who pretend to be exchanges and steal high listing fees. This is because brokers who are acting as bait for listing by impersonating Bithumb executives and employees have recently tried to gain attention.

Bithumb said that it is calling particular attention to the blockchain project and receiving reports of broker illegal activities. If the broker's illegal activity is confirmed, it plans to take legal action immediately.

Illegal brokers mainly act by impersonating an exchange employee or using an email address similar to the official email address of the exchange. According to a report recently received by Bithumb, they said that they were in charge of the major departments of Bithumb and discussed the project they wanted to list. In addition, they requested fees, such as a deposit for listing, using an email address that counterfeit Bithumb's official email.

In response, Bithumb announced that it only applies for listing and discusses via official e-mail, and does not negotiate listing through SNS such as Telegram and LinkedIn. Also, if an email is received through an official email account, it is requested that the sender be sure to send a reply email to check whether the sender is correct or not.

An official from Bithumb said, “Bithumb does not receive an application for listing through any channels other than official e-mail and does not require listing fees,” and said, “We must be cautious and pay special attention so as not to be harmed by negotiations on listing through informal channels.” He added, “If the circumstances of attempting an abnormal procedure through a broker, etc. are confirmed, penalties may be returned to the corresponding blockchain project.”

Bithumb compliance and related departments require a quick response for this fraud issue.