The Bithumb exchange had said it would not sell its Blockchain Exchange Alliance (BXA) tokens in South Korea. But BXA tokens are reportedly circulating in South Korea.
The exchange had said it would sell BXA tokens outside Korea. The next question is whether the BXA tokens, now circulating in South Korea, are authentic.
If the tokens are real, then the next question is whether Bithumb lied and sold them to South Koreans.
Many analysts speculated that Bithumb has been selling BXA inside Korea because selling to foreign investors outside Korea was difficult.
The Block Media contacted Bithumb, but the exchange has yet to answer the question.
The BK Consortium, which took over Bithumb last year, has officially issued BXA tokens. The BK Consortium issued BXA tokens to ally with all exchanges worldwide, lower trading fees among the member exchanges, use the same settlement system.
The consortium had said it would sell BXA tokens only to institutional investors, not individual investors, outside of Korea.
Even its sale of the tokens would be made in each country in strict compliance with each country’s regulations on cryptocurrencies.
Investors are advised to be careful when they buy BXA tokens.