Bithumb Searches for ‘Lost’ Owners of $206M Worth of Crypto

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A magnifying glass on a laptop keyboard.A magnifying glass on a laptop keyboard.
Supply: Paweł Michałowski/Adobe

The South Korean crypto trade Bithumb says it desires to seek out the “dormant” house owners of $206 million value of cash, together with Bitcoin (BTC), Ethereum (ETH), and XRP.

Per Chosun Ilbo, Bithumb stated it was launching a “marketing campaign” to assist remind customers with seizable crypto holdings that their cash stay on the platform.

One crypto proprietor, Bithumb famous, had not logged onto the trade’s platform for 3,357 days (over 9 years).

One other “dormant” buyer has did not log into an account that holds over $2.7 million of cash, Bithumb stated.

Many of the cash are Bitcoin tokens, the trade continued, with the rest predominately made up of Ethereum and XRP cash.

Bithumb classifies “dormant wallets” as accounts that haven’t been logged into not less than yearly, over a interval of 10 years.

One extremely upvoted commenter opined that a few of the token holders might have died or could possibly be “in jail.”

A graph showing trading volumes on the Bithumb crypto exchange over the past 12 months.
Buying and selling volumes on the Bithumb crypto trade over the previous 12 months. (Supply: CoinGecko)

Will South Korean Crypto Homeowners Be Reunited with their Misplaced BTC, ETH, & XRP?

Bithumb launched in December 2013 and has seen about 8 million prospects create wallets on its platform.

A Bithumb spokesperson stated the “objective of the marketing campaign” was to assist reunite folks with their cash. The spokesperson stated:

“As Bithumb has been the most important trade in South Korea for a interval of over 10 years, we’ve got the most important quantity of dormant belongings on our platform. Some wallets haven’t been accessed for a very long time.”

The trade stated that it had launched a particular service because it started its marketing campaign.

Bithumb stated that it has created a “Discover Dormant Property” service on its web site.

Clients should show their identification by verifying their e-mail addresses and cell phone numbers to make use of the service. The trade concluded:

“We hope that folks will use this chance to actively test on their dormant digital belongings.”

Bithumb has skilled a resurgence in commerce in latest weeks, thanks partially to a revitalized home and world crypto market.

The platform was as soon as the nation’s market chief, however previously few years has slipped effectively behind its greatest rival Upbit.

Bithumb has tried to win back trade by indefinitely doing away with commission fees.

The agency also hopes to launch on the KOSDAQ exchange in 2025, regardless of ongoing legal issues involving its alleged “secret owner.”

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