Upbit rejects allegations of indictment, requires proof Vu Blockin

South Korean Criptocurrenci Exchange Upbit denied allegations to charge fee for mediation on token lists, calling for Vu Blockin to provide evidence.

Exchange accentuated That all decisions on trading support pass the strict internal examination process without financial compensation. The Upbit also warned that users were careful for fake intermediaries and stated that this would take legal action against illegal intermediaries.

In other words, Sail It argues that its ads are based on internal assessments, not financial contracts. The company insists that token projects cannot simply buy them on the platform.

List fees

Controversial follows a Tweet series From Vu Blocchain, which claimed that multiple projects paid fees to intermediaries to ensure questions about upbit and rival exchange Bithumb.

According to Vu Blocchain, the intermediaries were allegedly about $ 10 million for Upbit and $ 2 million for Bittumba, and some intermediaries were allegedly connected to the Upbit shareholders and market manufacturers.

The report also suggested that some projects have provided intermediary fees in the range of 3% to 5% of their total token supply. This implies that instead of paying a fixed fee, some projects can offer part of their tokens to ensure listing.

Vu BlocCchain reached seven projects, and three denied any involvement in such payments.

After response to the Upbit, Vu BlocCchain has updated their posts and said “It is necessary to protect the source, so we cannot detect special information.”