Upbit rejects listing fee allegations, demands proof from Wu Blockchain

The South Korean exchange of cryptocurrencies Upbit denied the allegations according to which it charges brokerage costs for tokens lists, calling Wu Blockchain to provide proof.

The exchange underlines that all decisions to support exchanges undergo a strict internal examination process without financial compensation. Upbit also warned users to be careful about fraudulent intermediaries and said that he would take legal action against illegal brokers.

In other words, Bit says his announcements are based on internal assessments rather than financial agreements. The company insists that token projects cannot just buy their path on the platform.

Registration fees

Controversy follows a Tweets series De Wu Blockchain, who said that several projects had paid costs to the intermediaries to secure the announcements on Upbit and Rival Exchange Bithumb.

According to the Wu Blockchain position, the intermediary fees were approximately $ 10 million for Upbit and $ 2 million for Bithumb, some intermediaries are linked to shareholders and Upbit market manufacturers.

The report also suggested that some projects provided intermediary fees ranging from 3% to 5% of their total token diet. This implies that instead of paying fixed costs, some projects could offer part of their tokens to secure a list.

Wu Blockchain contacted seven projects, three denying any involvement in such payments.

After Upbit’s response, Wu Blockchain updated his publications and said He “must protect the source, we cannot therefore disclose specific information”.