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Bithumb denounces claims about alleged listing fee

South Korea’s second-largest cryptocurrency exchange platform, Bithumb, has reportedly denounced any claims that it is charging token issuers before they can list their coins on its platform at an interview with CoinDesk Korea on June 29th.

An unnamed official from Bithumb said on a phone call with CoinDesk Korea that the exchange is still not accepting fees prior to being listed and the so-called ‘listing fee’ under Bithumb’s contract are just necessary costs for server construction, testing and monitoring after listing. They also said that unlike before, Bithumb is now paying their cost for listing development and operations.

Bithumb also took to their official website to say that they are still not asking for listing fees and that all the rumours about the said fee are not true. ‘It is different from the listing fee because it receives the cost of linking the system immediately before listing from the foundation that has been listed,’ the officials from Bithumb said.

Additionally, Bithumb also posted a notice in their official media account last June 29 saying, ‘Bithumb does not require any listing fees in return for listing.’ In response to the allegations and to keep the users safe, Bithumb pinned their tweet regarding the guidelines on how to be aware of rumours, impersonation and fraud related to their listing.

According to the guideline, Bithumb does not require a listing fee for any reason, such as security audits or deposits, and rumours of listing fees or listing costs should not be entertained since they are not true.

‘In the case of marketing, digital assets are delivered only when requested by the foundation, and all of them are transparently used for marketing purposes. Bithumb will actively respond to speculation or groundless slander regarding the listing cost,’ the exchange company said.

Bithumb even encouraged its users to ‘please check’ the official Bithumb email ([email protected]) if they encounter any request to pay digital assets for listing costs and marketing purposes by people impersonating Bithumb.

These allegations that some Korean exchange platforms have been charging listing fees has been circulating for some time in the South Korean crypto community. However, it was only until a leaked contract between crypto rating service Xangle and an unknown token issuer was published in blockchain media outlet Decenter on June 27 that the issue was confirmed.

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