Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[Balint098]

As reported by Coindesk, the Seoul Metropolitan Police has raided the headquarter of Bithumb, South Korea's biggest crypto exchange by trading volume. The exchange has reportedly defrauding its consumer through a $25 million token sale on the platform that caused millions of financial damages for many investors. Another reason for the raid is that a proposed purchase by a Singaporean company, BTHMB, that failed to realized. The CEO of the exchange is accused with fraud and illegally sending funds overseas.

 

[Odufalove]

Thats not a good thing to be accused of fraud and even illegal funds so sad

 

[Josemendez]

As reported by Coindesk, the Seoul Metropolitan Police has raided the headquarter of Bithumb, South Korea's biggest crypto exchange by trading volume. The exchange has reportedly defrauding its consumer through a $25 million token sale on the platform that caused millions of financial damages for many investors. Another reason for the raid is that a proposed purchase by a Singaporean company, BTHMB, that failed to realized. The CEO of the exchange is accused with fraud and illegally sending funds overseas.

This is good news. I hope the CEO was caught during the raid as he will be the one to be in the right position to account for these accusations that is leveled on the company .

 

[SCAMEXPOSER]

This news needs to followed for update because we never can tell if the situation is as stated by the police, it will be nice if there is comment from the CEO to affirm the allegations.

 

[Rollerkid]

As reported by Coindesk, the Seoul Metropolitan Police has raided the headquarter of Bithumb, South Korea's biggest crypto exchange by trading volume. The exchange has reportedly defrauding its consumer through a $25 million token sale on the platform that caused millions of financial damages for many investors. Another reason for the raid is that a proposed purchase by a Singaporean company, BTHMB, that failed to realized. The CEO of the exchange is accused with fraud and illegally sending funds overseas.

That is good news for us. Defrauding $25 million token sale on the platform isn't good and I think they have to be accused of frauds activities.

 

[Josemendez]

This news needs to followed for update because we never can tell if the situation is as stated by the police, it will be nice if there is comment from the CEO to affirm the allegations.

This is true, perhaps other competitors are using this news to blackmail this man and tarnish the image of his project. Let's just wait and see what happens next .

 

[Brain]

Good one if this is the re situation of things. I dislike frsudsters because of their activities that cause a huge havoc to others. So such dubious places should be raided.

 

[SCAMEXPOSER]

If this is true , then there is more tough and tasking job for police to do online if eventually Crypto currencies will be used by all nations.

 

[Josemendez]

If this is true , then there is more tough and tasking job for police to do online if eventually Crypto currencies will be used by all nations.

I doubt unless strong security is put in place to tackle the issue of theft and annoymous nature of the cryptocurrency . The world will wait for these things to be put it place first

 

[Niftyicon]

If this is true , then there is more tough and tasking job for police to do online if eventually Crypto currencies will be used by all nations.

Leaving the police to tackle this will be near to impossible because then, the crime would have taken place already. There is need for the crypto stakeholders to do most of the security works.

 

[SCAMEXPOSER]

The Crypto stake holders can only beef up security especially the exchange platforms, the police are to make investigation and arrest while the court pass judgement. It a collective effort.

 

[Niftyicon]

The Crypto stake holders can only beef up security especially the exchange platforms, the police are to make investigation and arrest while the court pass judgement. It a collective effort.

You are right that there is a need for collective effort to handle this and beefing up security on the networks should be the very first step.

 

[Josemendez]

Leaving the police to tackle this will be near to impossible because then, the crime would have taken place already. There is need for the crypto stakeholders to do most of the security works.

There is division of works . Tasks such as this can't be done by crypto stake holders less they may be sued for inversion of privacy unless if there is a legal document permitting them to do so

 

[Balint098]

It's mostly about the job of the investors to never store too large of a crypto fund in any one of the exchanges or traders. No one can tell us when a crypto company went rogue.

 

[Josemendez]

It's mostly about the job of the investors to never store too large of a crypto fund in any one of the exchanges or traders. No one can tell us when a crypto company went rogue.

Yeah . Today I have up to three different exchanges , binance , idex , uniswap and P2pB2b . My funds are splited into three thus I can't lose all if one goes rogue

 

[Niftyicon]

It's mostly about the job of the investors to never store too large of a crypto fund in any one of the exchanges or traders. No one can tell us when a crypto company went rogue.

You are right about that. It is the individual's responsibility to find ways to ensure that even if a loss were to happen it wouldn't be so bad that all is lost at once.

 

[Wisdom01]

Am happy they were traced and caught but why would a big crypto exchange site do something like that this is really surprising and bad

 

[Brain]

Am happy they were traced and caught but why would a big crypto exchange site do something like that this is really surprising and bad

This is really disappointing that a trusted exchange will behave this way. People just need to be careful with where they dropped their hard earned money

 

[Wisdom01]

This is really disappointing that a trusted exchange will behave this way. People just need to be careful with where they dropped their hard earned money

Yeah people needs to be more careful because the rate at which exchange sites scam is alarming , most especially some new exchange sites

 

[Niftyicon]

Am happy they were traced and caught but why would a big crypto exchange site do something like that this is really surprising and bad

It is really a shame that an exchange of international repute would stoop so low as to defraud investors who have put their trust in them by using their platform. Those involved ought to be severely punished.