Bithumb has announced new investment alert designations for SANTOS, PORTO, and LAZIO tokens due to low liquidity and manipulation risks.
As South Korea’s premier digital asset platform, Bithumb has continuously prioritized investor protection through strict trading support policies and oversight of supported digital assets. In a recent announcement, Bithumb informed users of his decision to designate three of his soccer club tokens: SANTOS FC (SANTOS), FC PORTO (PORTO) and SS LAZIO (LAZIO) as investment alert assets. This decision is in line with the company’s “Crypto Asset Investment Alert Designation Policy.”
The primary reason cited for these new designations is the low liquidity associated with these tokens, which increases the risk of price manipulation and could harm investors. . As a safeguard, these tokens are marked to alert investors when considering trading.
The detailed plan for investment alert designation is as follows:
- Designated date: April 5, 2024
- Suspension of new deposits: Scheduled from 12:30 on April 5, 2024
- Notice of extension/cancellation/termination of transaction support: Mid-April (April 15th to April 19th)
Please note that these schedules are subject to change due to internal circumstances. Furthermore, if the reason for the investment warning designation is resolved within the specified period, the warning status of the asset may be lifted.
Bithumb’s commitment to a healthy and transparent trading environment is unwavering. The platform ensures continuous and systematic supervision of supported virtual assets, maintains communication with external experts and foundations, and provides a secure trading space for investors.
Investors are advised to stay informed and exercise caution when trading these designated assets. Bithumb appreciates the continued support and understanding of our users as we lead the way in building a healthy and transparent trading ecosystem.
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