Moreover, recent reports suggest that the startup announced the establishment of its unit in Singapore for the issuance of the token. The initial coin offering (ICO) of the BITHUMB Coin is expected to conducted in Singapore and abroad as South Korea banned ICO drives in the country in 2017.
Similar to Bithumb, earlier in 2018, Huobi, a Chinese cryptocurrency exchange, announced its plans to issue its own token – Huobi Token (HT) – based on the ERC-20 standard. Other crypto exchanges, such as Binance and Kucoin, have also issued their own token.
The exchange is reportedly targeting large-scale investors such as institutional investors for its token sales, rather than individual investors, the online publication continues. However, in 2017, Bithumb suffered a major security breach which resulted in several user accounts getting compromised and theft of billions of won.
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