Categories: Bitcoin

Bithumb Criticized For Listing a Cryptocurrency Created by its Developers

Join our neighborhood of 10 000 merchants on As a cryptocurrency listed in Bithumb, ‘Popchain’ is inflicting controversy amongst traders.

Investors have began to say that Bithumb paused its ICO plans to advertise Popchain, a cryptocurrency created by its builders that management 91 p.c of the cryptocurrency’s provide.

Initially, upon the introduction of Popchain, the Bithumb workforce stated that it’ll use The E&M’s Popcorn TV and Celeb TV to evolve Popchain into a profitable blockchain-based content material service platform. Investors have been attracted by the token, as Popcorn TV and Celeb TV are platforms which are already getting used by hundreds of thousands of customers.

Investors Outraged, Bithumb Cancels Listing

Investors in South Korea have been outraged by the Popchain itemizing and airdrop as a result of in contrast to different tokens like Kyber Network, EOS, and Storm, which needed to undergo a rigorous verification course of, Popchain, a cryptocurrency that’s merely two weeks in improvement with supply code copied from different cryptocurrencies, secured a itemizing on Bithumb.

When Bithumb introduced its plans to checklist Popchain, lower than 18 wallets or customers had the Popchain token. To put it merely, Bithumb introduced a itemizing of a cryptocurrency owned and held by 18 folks.

Cryptocurrency traders advised Hankyung that the itemizing of Popchain is a fraud-like operation and that Bithumb prematurely integrating Popchain.

In response, Bithumb said that it’ll not checklist Popchain within the short-term and wait till Popchain is built-in by main cryptocurrency exchanges.

Images from Shutterstock.

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