Upbit under investigation as 35 coins drop 50-80% following listings in Korea

Upbit’s sudden surge in the listing of new coins has sparked apprehension among investors and experts, with some expressing worries about the possibility of market manipulation. The South Korean cryptocurrency exchange has been adding a high number of coins to its platform in recent times, but the aftermath of these listings has been marked by substantial price decreases.

The rapid addition of new coins to Upbit’s platform has raised eyebrows in the cryptocurrency community. While some users might view this as a positive development that offers a wide range of investment opportunities, others are concerned that the exchange’s actions may be driven by motives other than providing a diversified selection of cryptocurrencies.

Market analysts have noted a pattern where a coin’s value experiences a significant increase leading up to its listing on Upbit, only to plummet shortly afterward. This trend has fueled suspicions that certain individuals or groups may be manipulating the market for their own gain. The sudden drops in value following the listing of new coins have left many investors at a loss, questioning the integrity of Upbit’s listing process and the motivations behind the exchange’s decision-making.

In response to these concerns, Upbit has attempted to reassure its users by emphasizing the compliance standards and regulations that govern its coin listing process. The exchange claims to employ rigorous screening criteria to ensure that listed coins meet certain requirements and do not pose a risk to investors. However, critics argue that these measures may not be sufficient to prevent potential market manipulation or ensure fair trading conditions.

As the cryptocurrency market continues to evolve and attract a growing number of investors, the issue of market manipulation remains a pressing concern. The decentralized and largely unregulated nature of the cryptocurrency space makes it susceptible to various forms of manipulation, including pump-and-dump schemes and insider trading. Upbit’s recent surge in coin listings serves as a reminder of the challenges and risks that investors face in navigating the complex world of digital assets.

Whether Upbit’s actions are driven by genuine efforts to expand its coin offerings or by more questionable motives, the impact on investors cannot be ignored. As the cryptocurrency market becomes increasingly competitive and volatile, it is essential for users to exercise caution and conduct thorough research before making investment decisions. By staying informed and vigilant, investors can better protect themselves from potential market manipulation and make sound choices in an ever-changing landscape.