South Korea’s crypto exchange market is in deep danger

Quick Take

  • A high profile Upbit Investigation is slowing down adoption
  • Bithumb token sale controversy is keeping investors busy
  • Coinzest airdrop mishap added insult to injury

For the past six months some of the largest crypto exchanges in South Korea have been involved in major scandals while facing police investigations and criticism from the community.

What happened? The acquisition of Bithumb, the investigation into Upbit, Coinzest’s airdrop mishap, and the arrest of two executives at Komid have caused an overall decline in confidence from investors in the local cryptocurrency exchange market.