Bithumb, one of South Korea’s largest cryptocurrency exchanges, has taken a new step that may attract the attention of investors. Bithumb, acting in collaboration with the Digital Asset Exchange Joint Working Group (DAXA), announced that it has marked the altcoin projects named ORB (Orbit City) and TEMCO within the scope of “investment warning”.
DAXA issued a warning for those two altcoins
DAXA is known as a group that regulates cryptocurrency markets in South Korea and aims to raise reliability standards. Ensuring coordination between exchanges, protecting investors against potential risks and supporting the dissemination of accurate information about crypto assets are among DAXA’s main goals. In this context, exchanges that are DAXA members can flag certain crypto assets if they pose a risk and decide to terminate transaction support when necessary.
According to Bithumb’s official statements, the ORB token was evaluated by DAXA within the scope of investment warning due to the inability of the issuing or managing organization to inform investors. If the token issuer discloses missing or insufficient critical information that may affect the value of the ORB, this creates a risky situation for investors. In addition, the lack of a community where ORB holders can communicate stands out as one of the factors that raises question marks about the future of this token. The lack of a reliable flow of information for investors increases uncertainty about whether the ORB token can maintain its long-term value.
“Lack of information” on TEMCO token
TEMCO token is one of the altcoin projects marked as an investor warning. Bithumb stated that the issuer of TEMCO did not disclose critical information about the project and did not share healthy information with investors. This situation raised doubts about the reliability and sustainability of TEMCO’s business model and raised concerns that the token could pose a risk for investors. Unjustified changes in the project shook investors’ confidence in the TEMCO token, creating a perception of lack of access to information and uncertainty among investors.
In line with the new regulations of DAXA and Bithumb, ORB and TEMCO tokens have been marked as an investment warning as of November 6, 2024. Starting from this date, deposits for both tokens will be stopped. However, the final decision on whether this warning will continue or whether ORB and TEMCO will be completely removed from the transaction is expected to be announced between 18-22 November. The investment warning decision for ORB and TEMCO tokens has not yet caused a major change in market prices. Although it is generally known in the cryptocurrency market that such warnings can have sudden effects on prices, there has been no noticeable fluctuation in ORB and TEMCO so far. Still, it is important for investors to adopt a more cautious and investigative attitude in light of these developments.
