Shenzhen-based exchange BTC38 issued a warning to cryptocurrency investors on June 24 advising caution when putting money into ICOs. Reporting on this advisory, Chinese publication 8BTC noted that ICO scams have become a serious problem in China over the last two months — taking advantage of “newbies” looking for the next big thing in the cryptocurrency gold rush.
Providing an English-language summary of the BTC38 warning, 8BTC listed the following statements regarding the exchange’s policy of protecting against ICO scams:
BTC38 will not list any newly-issued ICO assets. It’s one of the principle of BTC38 not to be the first exchange for any cryptocurrency or assets
BTC38 has never been and will not get involved in the market-making of exchange and staffs are not allowed to get involved as well.
BTC38 will publicize plans and open bidding for “renovating coins”
https://www.bitsonline.com/china-death-penalty-ico-traders/
