Bithumb, South Korea’s second-biggest cryptocurrency exchange, announced the listing of a little-known token named Popchain on Tuesday. Investors asked the exchange to reconsider its decision after the publication of this message.
Why does Popchain look suspicious?
- Bithumb representatives reported that the coin trade would start on May 17. However, there is almost no information about Popchain on the internet.
- The token was released on May 1st on the basis of the Etherium blockchain, CryptoOfKorea reported. The edition found out that cryptocurrency supply is owned by two individuals and that the coins were redistributed to 222 addresses, but now 10 wallets still containing 92% of all tokens.
- Popchain’s page on GitHub turned out that cryptocurrency entire source code was copied from the source code of Bitcoin, Monero, and Dash.
Korean Blockchain Association formally recommended Bithumb to reconsider the listing of Popchain with many investors of exchange asked the same thing. In response, Bithumb stated that it will not list Popchain in the short-term.
By Ekaterina Ulyanova