Bithumb Recalls Suspicious Coin After Community Smells a Rat

[kreslik.news]

South Korean cryptocurrency exchange Bithumb has cancelled its listing of a dodgy-looking coin after several parties identified discrepancies in its code and manner of distribution, according to South Korean news sources.

Bithumb is one of the biggest cryptocurrency exchanges in the world, processing more than $700 million in trades daily. The coin in question is called Popchain.

The website and white paper of Popchain were launched in March of this year, and April saw the release of 2 billion Popchain Cash coins. The first suspicious thing is that the company did not raise money with an initial coin offering, as is usually the ... (read more)