Coinbit
| Coinbit | |
| |
| Founded | 2018 |
|---|---|
| Headquarters | South Korea |
| Products | Cryptocurrency trading platform |
| @CoinbitGlobal | |
| Website | Coinbit Home |
Coinbit launched as a cryptocurrency exchange on May 11, 2018, reportedly with 50 cryptocurrencies listed.[1]
Among the cryptocurrencies listed for trading on Coinbit is DEX. DEX is issued by Coinbit's Mining Exchange, "which puts top priority on sustainability and transparency, in order to recognize the problems of the current Mining Exchange."[2]
According to CoinMarketCap, at the end of October 2018 Coinbit was ranked fifth by the U.S. dollar value of its volume traded daily. CoinMarketCap reported that total volume included 20 cryptocurrencies actively traded against the Korean won.[3]
In August 2020, the Seoul Metropolitan Police Agency raided Coinbit's offices for allegedly inflating "99 percent" of its volumes using "ghost accounts." Trading and other operations were immediately halted.[4]
References[edit]
- ↑ CoinBit Cryptocurrency Exchange in South Korea Undergoes Unforeseen Technical Issues. Bitcoin Exchange Guide.
- ↑ What is DEX?. Coinbit Website.
- ↑ 24 Hour Volume Rankings (Exchange). CoinMarketCap.
- ↑ Police seize South Korean crypto exchange Coinbit for allegedly inflating trading volumes. The Block.