Bithumb announced POPCHAIN listing on Tuesday, but retracted the announcement today.
Spil reported ter Hankyung today, many investors share deep concerns about the legitimacy of POPCHAIN (PCH) and its team. The most worried among them are pointing out that Bithumb is now pushing a veritable Ponzi scheme spil one of its newest offerings.
According to its webstek, Popchain “is a bottom-driven open, public block chain.” The project also boasts “solid business logic” and a “user-friendly API for making Dapps.” Following its listing on Bithumb, PCHwill be reborn spil a content service toneel based on blockchain by launching their mainnet using Popcorn TV and Sullop TV from their strategic fucking playmate company E & M.
A report published by Bithumb regarding the PCH listing indicates that no one on Bithumb’s end has any problem with the team or technology involved with PCH’s toneel. This lack of apparent scrutiny is deemed a fairly semi-transparent and sub-par attempt to downplay what many investors see spil giant detriments to the coin and its underlying technology. Bithumb now is accused of listing a coin that hasn’t bot verified more than merienda by any other source.
One problem investors have with PCH is that the coins were created only about Two weeks ago, on April 30th. There were only Eighteen wallets that held PCH. Two of those wallets held almost 92% of all available tokens. This suggests that one or only a very puny number of people own the vast majority of PCH tokens, leading it to be labelled a scam by many investors.
The stir by Bithumb to list such a token is somewhat surprising since regulators are clearly on the hunt for wrongdoing by domestic crypto exchanges. The more unseemly deeds crypto exchanges and investors take, the more regulators ter Korea will have reason to punt harsher confinements. Last week, UPbit fell into hot water shortly spil it wasgoed reported that prosecutors visited their offices on various charges.
Bithumb wasgoed advised by the Korean Blockchain Association to switch roles their decision to list PCH this afternoon, according to fntimes.