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[Alpha Biz=(Chicago) Reporter Paul Lee] Recently, Credit Coin, which was listed on the domestic virtual asset (cryptocurrency) exchange Upbit, has been designated as a significant item by Bithumb, sparking controversy.
Bithumb designated credit coin issuer Gluwa, which has been supporting the transaction since two years ago, as an investment cautious item on the grounds that it falsely stated the maximum issuance limit of the credit coin, and as the move comes just 10 days after its listing on Upbit, industry sources point out that it is an Upbit-conscious move by Bithumb and evidence of discord inside the company to which the two exchanges belong.
According to the domestic virtual asset industry on the 2nd, Bithumb announced the designation of Credit Coin since the 22nd, saying, "It is necessary to designate investment attention due to disclosure violation issues such as false entry of information related to issuance submitted by the Foundation to investors and exchanges."
Credit Coin was previously listed on the Upbit KRW market on the 12th, with a total issuance limit of 600 million on Upbit. On the other hand, Bithumb listed Credit Coin two years ago on December 23, 2021, and the total issuance limit of Credit Coin is unlimited on the Bithumb Exchange.
The same virtual assets were listed, and the total issuance limit of credit coins marked by the two exchanges is different. According to industry sources, Bithumb recently asked Credit Coin for an explanation after confirming that its total issuance limit was set at 600 million when it was listed on its rival Upbit Exchange.
However, Gloo, the issuer of Credit Coin, delivered the answer that both Bithumb and Upbit had submitted the same data, and maintained that the exchanges had different interpretations on the total issuance limit.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
