Bithumb In Trouble, Police Raids Exchange for Second Time In One Week

[milani]

Anyone using this exchange? I always thought Bithumb to be trustworthly. Which exchanges are safe according to you?

News article

Personally I have never used this exchange. If everything in this article is really so, then I would like to admit that there is no guarantee at all that the exchange from the TOP and with good reputation can not be hacked, or people will not invest in some tokens or coins that will not turn to be scam, or something like that. In this case the reason is scam token, that is why this exchange is under investigation. This is the numerous remind for all us - there is no guarantee for your assets even when the exchange is good and situation doesn't look like to be strange or suspicious.

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[Slow death]

Anyone using this exchange? I always thought Bithumb to be trustworthly. Which exchanges are safe according to you?

News article

I know this is no time for jokes, but you'll notice this:

On Monday, September 7, the Fourth Korean Metropolitan Police Agency raided Bithumb’s headquarters in the Gangnam District as per the report by local publication Seoul Shimum.

at least Bithumb have physically headquarters, imagine if the police had to pursue binance or other exchanges? 

The South Korean police are to be congratulated, at least the people there in South Korea know where to complain in case they are cheated and stolen, but the rest of the world does not have that privilege. By the way, I never heard of BXA token.

[buwaytress]

Not sure what to make of this news. Not going to read too much into it as Bithumb's never a consideration but I always assumed them to be one of the biggest if not the biggest in East Asia (minus Japan) and weren't they even the first to get the state license to do business?

I've always stuck to the rather less prominent ones, but PSD2 licensed and available to get me home in my native currency fits me well.

[pixie85]

number 1 crypto exchange in the world. It means we should always do safe ways of managing our crypto assets. Better to store them on hardware wallets if we don't use them for trading than keeping on the wallets on exchanges.

Bithumb nr 1 exchange in the world? According to whom?
By what? Volume? No. Number of users? No. Reliability? No.

You must have a different exchange in mind

[MCobian]

I was quite surprised to know Bithumb is in trouble, even though Bithumb is one of the most popular exchanges, even according
to coinmarketcap site is a top crypto exchange. I am increasingly convinced that no exchanges is trustworthy, we better be careful
from now on using exchanges. I recommend that we store funds on exchanges for trading purposes only, and the rest is stored in
a hardware wallet. I am sure this news will decreases Bithumb's popularity, and destroys Bithumb's reputation. Luckily I have never
used Bithumb exchange until now.

[Yatsan]

As what I have read on the article, they are being raided for the allegations of fraud and money laundering so I think it seems not be too bad to think that the police are just doing their jobs to investigate potential crimes to regulate and secure righteousness that people getting into certain exchange is safe and far away from such crimes. Although it was just an allegation and there is still no final report regarding the claim, Bithumb's operation still continue but there is already a stain on their reputation knowing that they have been raided for such allegations that people are really afraid of which will make them avoid the exchange.

This news was really too bad for the reputation of Bithumb for it is a very well known exchange.