Bithumb announced new investment warning designations for SANTOS, PORTO and LAZIO tokens due to low liquidity and manipulation risks.
As the leading digital asset platform in South Korea, Bithumb continuously prioritizes investor protection through its strict trade support policies and supervision of supported digital assets. In a recent announcement, Bithumb notified users of its decision to designate three football club tokens – SANTOS FC (SANTOS), FC PORTO (PORTO) and SS LAZIO (LAZIO) – as investment alert assets. This decision is in accordance with their “Virtual Asset Investment Warning Designation Policy”.
The main reason cited for these new designations is the low liquidity associated with these tokens, which increases the risk of price manipulation and could potentially harm investors. As a protective measure, these tokens are flagged to warn investors to exercise caution when considering trades.
Here are the detailed plans for the Investment Alert designation:
- Designation date: April 5, 2024
- Stopping new deposits: Expected from April 5, 2024, 12:30 p.m.
- Notice of extension, de-designation or termination of trading support: mid-April (between April 15 and April 19)
Please note that these schedules are subject to change due to internal circumstances. In addition, if the reasons for the Investment Warning designation are resolved within the designation period, the assets may be removed from Warning status.
Bithumb’s commitment to a stable and transparent trading environment is unwavering. The platform provides ongoing and systematic supervision of supported virtual assets and maintains communication with external experts and foundations to ensure a secure trading space for investors.
Investors are advised to stay informed of updates and proceed with caution when trading these particular assets. Bithumb thanks its users for their continued support and understanding as it leads the way in creating a healthy and transparent trading ecosystem.
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