FTC Launches Probe Into Bithumb's Marketing Claims
According to recent reports, South Korea's Fair Trade Commission (FTC) has officially launched an investigation into Bithumb, a major virtual asset exchange. Investigators have visited the company's headquarters in Gangnam, Seoul, to collect data and conduct a detailed review.
Questioning Liquidity Statements
Bithumb previously claimed to have the 'highest liquidity among domestic virtual asset exchanges' in a public press release. However, this statement has come under scrutiny as market data shows Upbit leading in market share.
Promotion Terms Under Review
In addition, the FTC is looking into a promotional campaign Bithumb ran at the end of last year. The program aimed to attract new API users with subsidies, but there are allegations that payment terms were changed unilaterally during the promotion.
- Investigators have accessed Bithumb's offices
- Marketing materials and user agreements under review
- This case could impact industry standards