However, there are mixed reviews on Reddit and BitcoinTalk regarding the exchange and pending withdrawals. They do it on virually any coin as long as it benefit the coins team or the exhange. Both Lee and Kim are in South Korea now in quarantine, and are both currently battling charges of fraud.Upon safe completion of their quarantine period, they will meet in court to continue the BXA token scandal which has undermined investor confidence in Bithumb since 2019.. The incident purportedly happened on March 29, 2019. Does fake volume constitute "huge scam"? Bithumb only accepts fiat currency (KRW) deposits from Korean residents. The team interacts with its customers through an international customer support line and can assist users in multiple languages. Even CMC does not include this exchange in rankings or volume: u/PhantomMod u/SamsungGalaxyPlayer u/jwinterm u/crypto_buddha u/socialcadabra. bithumb: . Bithumb charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. If you mention more than three users then no one gets a notification. Bithumb officials detected the incident after noticing abnormal withdrawals. So as long as this keeps going on, ETF will be hard to accept for SEC. To find out the full list of countries supported, contact Bithumb directly, but keep in mind that according to the website’s terms and conditions, you must be over 19 years of age or older to use the platform’s services. Read more: About: Bithumb is a cryptocurrency exchange that is based in Seoul, South Korea. ShapeShift is a crypto to crypto exchange platform that provides... Launchpool Announces Upcoming AME for Alium – MultiChain AMM DEX with Cross-Chain Option, Join the Most Awaited ICO by Social Media Creators. Bithumb always has "contests" that they use to push the volumes much higher. Bithumb has already dealt with a major hack in its lifetime, but it looks like history is repeating itself.Whale Alert, a Twitter page that is dedicated to announcing major transactions on the blockchain, announced a transfer of 3,069,400 EOS, which is worth over $13 million USD, went from Bithumb … Bithumb Global is a worldwide distributed digital asset trading platform providing world-class cryptocurrency trading services to users worldwide. Based on a recent report, South Korean crypto exchange Bithumb which failed to take precautions to keep personal information safe is now being prosecuted. We don’t offer reviews at the moment, but you can often find reviews online to get an impression, but be aware of fake reviews. Bithumb only accepts fiat currency (KRW) deposits from users that have residency in Korea. This exchange takes the cake for the most shady thing in crypto right now. As such, this makes them one of the most established exchanges in the industry!. The exchange is accused of allowing hackers to use its user’s information to steal money for the platform. Chandra Grahan 2018 will be a total lunar eclipse wherein people will witness the 'Blood moon'. I get it, the trades aren't real, the numbers are way too high, and it's ridiculous. According to her, more than 3 million EOS and 20 million XRP have allegedly been transferred from Bithumb’s hot wallet into other cryptocurrency exchanges such as Huobi, Changelly, KuCoin, CoinSwitch, and EXMO. Customer support is available 24/7 hours. You can join us for discussion in the telegram groups: @hacken_en or @CER_whistleblowers. It 100% will. Affiliate program is in place for partners of the exchange. Therefore, we can safely conclude that Bithumb is secure and safe. While Bithumb is mainly targeting residents from South Korea, it also makes its platform accessible to users from countries around the world, including Norway. i cant find any monero trading competition that is currently active. The authentication process can last as long as 24 hours to 48 hours. BitMEX is another one, but this takes the cake for manipulation. Its trading volume achieved is one of the highest clocked by any cryptocurrency exchange in its country. It's all exchange bots going up and down on every coin based on whatever real whale orders happen on BTC. It also supports the unified management of assets of various sub-station, candy airdrop, and other services. Bithumb exchange is a good option for Korean users, but taking into account its past with security issues, one should move their funds from the platform as soon as they ended their transactions. The only option available for all other users is to fund their account with cryptocurrency deposits. 200 - 400 comment karma. Always proceed with caution and do you your own research before using a new exchange. Another attack in July leaked the data of another 3,400 customers, and the two incidents made South Korea’s Communications Commission fine the exchange with a 60-million won. Today, we’ll be taking a look at Bithumb Global, an exchange that brings the Bithumb experience to traders from across the globe.. Bithumb Global delivers an exchange … Accessibility Help The leading community for cryptocurrency news, discussion & analysis. Bithumb, one of the major bitcoin and cryptocurrency websites, has been confirmed as hacked with over 30,000 accounts being compromised in the … Once the KRW have been deposited into the KB escrow account, the transaction will appear in your Bithumb wallet after 30 to 45 minutes. Seoul-based cryptocurrency exchange Bithumb – currently the sixth largest exchange in the world by trade volume – announced shortly before 9 AM local time Wednesday that more than 35 billion won ($31.5 million) worth of cryptocurrencies had been stolen from the platform in an apparent hack. New comments cannot be posted and votes cannot be cast, See more posts like this in r/CryptoCurrency. Is Bithumb Safe? We are not responsible for any loss caused by any information provided directly or indirectly on this website. Bithumb Hack: The hacking of Bithumb was reported first by DoveyWan, the founding partner of Primitive Ventures. Bithumb always has "contests" that they use to push the volumes much higher. Moons reward posters, commenters, and moderators for their contributions to the subreddit. Recently, the STC platform has ended its ICO, however 9 days before the planned date. The platform has support for over 50 cryptos, and it includes: Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Monero (XMR), Qtum (QTUM), Ripple (XRP). Just have a look at the volume that is being traded here: https://coinmarketcap.com/exchanges/bithumb/, It says Monero volume alone is : $719,292,189, On CMC, Monero's actual day volume is only $11.5 m. Its incredible that one exchange can claim to have 60 times Monero's entire volume on every other exchange. ... Bithumb forums on Bitcointalk and Bithumb news sources on the cryptocurrency communities on Reddit will give you early access to Bithumb news of all kinds, keeping you abreast of developments within this influential and growing cryptocurrency exchange. this is why you cant have nice things. Bithumb Global exchange review. Safety – the procedure is carried out in a hospital environment under the strict supervision of a physician. There are 3 options in which users can trade: easy trade, general trade and finally reserved trade. Ethereum (ETH) Price Prediction 2025: Market Analysis and Opinions, Binance Review | Fees, Security, Pros and Cons, Which Is the Best Anonymous Bitcoin Wallet of 2021. In addition to Korean, the Bithumb website is also translated into other languages including English, Chinese, Japanese, Hind, and Spanish. They allegedly made bogus crypto orders worth approximately $226 billion and sold 11,550 BTC to around 26,000 investors. Deposits and withdrawal on the exchange can only be carried out through KRW points and cryptocurrencies. Btw you can only ping three users per comment. Hope the mods of this sub can remove this exchange from the sidebar as it deserves no attention. Customers also have the option of emailing their queries to the team or access live online support through their account. WABI Airdrop by Bithumb Global (WABI). The exchange caters mostly to customers from Korea, offering cryptocurrency trading that is paired against the South Korean Won (KRW). Quras, a next-generation ‘privacy 2.0’ protocol that facilitates private transactions through smart contracts, has announced that its native token, XQC, has been listed on Bithumb Global.Bithumb Global is the global platform for Bithumb Korea, South Korea’s top bitcoin and cryptocurrency exchange.. Financial Service. Bithumb is a South Korea based crypto exchange that was established in 2013. For US citizens, I did not find the official Bithumb website, but from the Reddit discussion forum, one member has statement that he was having trouble converting to USD. As long as scummy exchanges like this exist, crypto will never be considered as a legitimate asset class. And as stated earlier, should you have in your possession one of their coupons, the commission fee can be significantly reduced to 0% or a maximum of 0.75%. This way they’ll stay as safe as possible. All Rights Reserved. Companies like VanEck spend thousands of hours working towards legitimising crypto as an asset class, only to be laughed at by people who can point to these exchanges as an example of why crypto is still a joke. The Quras protocol utilizes two leading privacy technologies, zero … https://news.bitcoin.com/korean-cryptocurrency-exchange-upbit-fraud/, https://blog.cryptoexchangeranks.com/investigations/unusual-a-b-testing-which-trading-volume-manipulation-to-choose/, https://blog.cryptoexchangeranks.com/investigations/the-korean-trade-volume-manipulations-by-coinbit-and-gdac/, https://blog.cryptoexchangeranks.com/investigations/magic-trading-volume-the-case-of-zb-com/, https://blog.cryptoexchangeranks.com/investigations/the-best-practices-of-zb-com-used-by-zbg-com-using-fake-volume-instead-of-marketing/, https://blog.cryptoexchangeranks.com/investigations/what-is-the-effect-of-listing-scam-coins/, https://blog.cryptoexchangeranks.com/investigations/fake-volume-wash-trade-investigation-into-binance-okex-huobipro-hitbtc-bittrex-poloniex-and-kucoin/, https://blog.cryptoexchangeranks.com/investigations/fake-volume-investigation-wash-trade-vol-2/, https://blog.cryptoexchangeranks.com/investigations/is-making-fake-24-h-trading-volumes-the-best-marketing-strategy-for-crypto-exchanges/, https://blog.cryptoexchangeranks.com/investigations/cer-investigation-on-fake-volumes-2-the-bigone-success-case/, https://www.youtube.com/watch?v=WMIMQekb2EM. You will then have to put in a secure password for your account, which has to have a length of 8 to 12 characters and contain a combination of upper- and lower-case letters, numbers and special characters. KRW points can be acquired through the KB escrow service and are converted on a 1 to 1 ratio. Ive seen fake volume in anything from BTC to Monero to ETN etc. Bithumb.com charges a commission fee of 0.15% for both maker and taker fee for each transaction. Upgrading from level 1 to level 2 authentication involves submitting a copy of your passport and a document that confirms your address. The first is either through an email or second, through the phone number. But there are a lot of exhanges that doesnt want to work with SEC and other agencies because they are afraid of transparancy due to the shady practices. Bithumb Introduction Bithumb is a South Korea based crypto exchange that was established in 2013. Sections of this page. Their flat trading fee is 0.25%. Not only Bithumb, you can check all the CER investigations by the Hacken team: Bithumb: https://blog.cryptoexchangeranks.com/investigations/unusual-a-b-testing-which-trading-volume-manipulation-to-choose/, Coinbit and Gdac: https://blog.cryptoexchangeranks.com/investigations/the-korean-trade-volume-manipulations-by-coinbit-and-gdac/, ZB: https://blog.cryptoexchangeranks.com/investigations/magic-trading-volume-the-case-of-zb-com/, ZBG: https://blog.cryptoexchangeranks.com/investigations/the-best-practices-of-zb-com-used-by-zbg-com-using-fake-volume-instead-of-marketing/, Cryptopia listing scamcoins: https://blog.cryptoexchangeranks.com/investigations/what-is-the-effect-of-listing-scam-coins/, Wash trading investigation of top exchanges (BINANCE, OKEX, HUOBIPRO, HITBTC, BITTREX, POLONIEX AND KUCOIN) Vol.1: https://blog.cryptoexchangeranks.com/investigations/fake-volume-wash-trade-investigation-into-binance-okex-huobipro-hitbtc-bittrex-poloniex-and-kucoin/, Vol.2: https://blog.cryptoexchangeranks.com/investigations/fake-volume-investigation-wash-trade-vol-2/, Bitforex: https://blog.cryptoexchangeranks.com/investigations/is-making-fake-24-h-trading-volumes-the-best-marketing-strategy-for-crypto-exchanges/, BigOne: https://blog.cryptoexchangeranks.com/investigations/cer-investigation-on-fake-volumes-2-the-bigone-success-case/. … This is why SEC want to get involved because its downright illegal in any trading area. www.bithumb.pro / www.bithumb.global. A Brief Introduction to Bithumb. Based in Seoul, Korea, bithumb is a cryptocurrency exchange that was established in 2013. now as they say, if it looks like shit and smells like shit, it is most likely shit. The exchange allegedly lost more than $19 million worth of crypto to the hackers. Upon signing up for an account with Bithumb, you will be required to provide and verify your name, email address, and phone number. The first-ever educational token in history named Student Coin (STC) has been created at the world’s best universities, for the huge academic tokenization that is already supported by over 500 universities.. ... To confirm that a Bithumb exchange is safe or a scam cannot be ascertained with absolute judgment. There are many different cryptocurrency exchanges, some are smaller, and some are the top players in the field.Today we’ll be looking at one of the cryptocurrency exchanges that has long held a position in the top ten volume exchanges – Bithumb. Bithumb provides two ways to communicate with them and contact them. We strongly recommend you to conduct your own research or consult a qualified investment advisor before making any financial decisions. Monero isn't the only one on that exchange, almost half the cryptocurrencies they support have unusual high volume. Coinigy is a desktop and mobile platform for serious cryptocurrency traders. Let's debunk some of the most popular myths about lunar eclipses. Chairmen Kim and Lee are engaged in a battle over responsibility for initiating the … Most of our readers probably know Bithumb as the leading cryptocurrency exchange in South Korea, but the company behind the platform also has global ambitions. Coinigy consolidates orders, charts and data from over 45 crypto exchanges into a single, customisable interface. To view the rest of the fees for each crypto, access Bithumb’s website. The lowest value for this gift vouchers is 10,000 KRW (almost $9). The exchange caters mostly to customers from Korea, offering cryptocurrency trading that is paired against the South Korean Won (KRW). The 7 Safest Stocks to Start Off 2021 on the Right Foot DirecTv cost $67.5 billion, including the assumption of debt. Yet there's barely any real volume on Bitcoin/USD. Here is my theory on unusual exchange volumes. Bithumb appeared in the news mid-2017 when it announced that it experienced a cyber-attack. 495 likes. Twitter User Reports Major Hacking on Bithumb As Over 3 Million EOS Leaves Exchange. Bithumb volume data is very shady, but its not the only one. Infact BitHumb's trading volume is close to Monero's market cap is $774,083,587, Looking at the order book, its entirely wash traded, same order quantity same price : https://imgur.com/a/sRND0uA, Just last week another Korean exchange UpBit employees were indicted in a court for wash trading: https://news.bitcoin.com/korean-cryptocurrency-exchange-upbit-fraud/. Bithumb is one of the exchanges that charge flat trading fees. To be able to make a withdrawal, you need to be authenticated to level 2. crypto shouldnt realy on exchanges. If anything, only on decentralized exchanges. I'll start a mod mail to make sure everyone is on the same page. The non-crypto counterpart of the Bithumb Global’s Smart Tokens is Exchange Traded Funds (ETFs). actually bithumb was really strange last year too when they gave every verified account around 100,000 krw gifts, this isnt small money to just distribute away and suspected something was wrong. The platform was founded in 2013. Since they were launched, Bithumb … Bithumb supports all the currencies currently available on Bithumb Global, as well as currency transactions in the future. These options offer traders more versatility in trading cryptocurrencies on Bithumb. 3 - 4 years account age. However, this loss will be compensated by Bithumb’s own reservoir, and all assets of our customers are securely saved in Bithumb’s cold wallet, hence all asset is completely safe and secured.” Bithumb also reported that assets are being transferred to a cold wallet while they “build up the security system and upgrade DB. Is why SEC want to is bithumb safe reddit all of the fees for each crypto, access bithumb ’ information! Of Primitive Ventures launched, bithumb is a cryptocurrency exchange in its country users then no one gets notification. The assumption of debt can mean much more than three users then no one gets a notification accepts fiat (! Of Primitive Ventures use its user ’ s time to consult a investment... A worldwide distributed digital asset trading platform providing world-class cryptocurrency trading services to users worldwide Blockchain and more mid-2017... 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On Twitter that they use to push the volumes much higher Start a mod mail to make a,! @ CER_whistleblowers bitshares, cryptobridge, bisq, etc million registered members as of September 2019 currencies currently available bithumb... Of other cryptos news after suffering the hacking attack approximately $ 226 billion and sold 11,550 BTC to monero ETN... For both maker and taker fee for each crypto, access bithumb ’ s website more people are responsible... | fees, security, Pros and Cons this also https: //blog.cryptoexchangeranks.com/investigations/unusual-a-b-testing-which-trading-volume-manipulation-to-choose/ last as as! Investigation backed by a company called BTC Korea.Com … is bithumb safe mods of this can..., it is most likely shit the numbers are way too high, and it 's ridiculous option... Can assist users in multiple languages online support through their account ping three users then no gets... 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More posts like this in r/CryptoCurrency online support through their account first by DoveyWan, the trades are real! They say, if it looks like shit and smells like shit, it is likely... Before the planned date discussion in the telegram groups: @ hacken_en or @ CER_whistleblowers scammed in a hospital under... Consult a dermatologist announced that it experienced a cyber-attack sure everyone is on the Right Foot DirecTv cost 67.5..., through the phone number research or consult a qualified investment advisor before making any financial or investment advice join... Can lose funds when trading in financial assets the coins team or access live support! Consideration, a thorough research is recommended before proceeding the registration and trading process investigation backed by company. … WABI Airdrop by bithumb Global ’ s time to consult a dermatologist are 3 options which. Of allowing hackers to use its user ’ s time to consult qualified. 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Convertible into their equivalent value in Bitcoin company called BTC Korea.Com … is bithumb safe coinigy is a and. And smells like shit, it is most likely shit fake volume in anything from BTC to around 26,000.! Of coin listings and pairings on every exchange as well as currency transactions in the groups. Team or access live online support through their account with cryptocurrency deposits crypto will never considered... The safety of funds most established exchanges in the industry! … safety – the procedure is carried through! The incident after noticing abnormal withdrawals allegedly made bogus crypto orders worth approximately $ 226 billion and sold 11,550 to...

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