Bithumb has announced new investment alert designations for Santos, Porto and Lazio tokens due to low liquidity and manipulation risks.
As South Korea’s leading digital asset platform, Bithumb has consistently prioritized investor protection through its stringent trading support policies and monitoring of supported digital assets. In a recent announcement, Bithumb informed users of its decision to designate three football club tokens—Santos FC (SANTOS), FC Porto (PORTO), and SS Lazio (LAZIO) as investment alert assets. Is. This decision is in line with their “Virtual Asset Investment Warning Designation Policy.”
The primary reason cited for these new designations is the low liquidity associated with these tokens, increasing the risk of price manipulation and potentially resulting in losses for investors. As a protective measure, these tokens have been marked to alert investors to exercise caution when considering trades.
Here are the detailed plans for investment alert designation:
- Designation Date: April 5, 2024
- Suspension of new deposits: Expected from 12:30 pm on April 5, 2024
- Notice of extension, designation removal, or termination of business support: Mid-April (between April 15 and April 19)
Please note that these schedules are subject to change due to internal circumstances. Additionally, if the reasons for the investment alert designation are resolved within the designation period, the assets may be released from alert status.
Bithumb’s commitment to a better and transparent trading environment is unwavering. The platform ensures continuous and systematic monitoring of supported virtual assets and maintains communication with external experts and foundations to provide a safe trading space for investors.
Investors are advised to stay informed about the updates and proceed with caution while trading these specified assets. Bithumb thanks its users for their continued support and understanding as it paves the way to build a healthy and transparent trading ecosystem.
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