What happened in Korea during the ITN period

English General Discussions
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I can not speak English very well. I ask for your understanding in advance.

△ Hello. I have a cardano small community in Korea. I briefly tell you about ITN in Korea.

  • Upbit, the largest cryptocurrency exchange in Korea, stole 342,000 ETHs on November 27 last year. (Hack estimation). Upbit is a very popular exchange. It is famous for kimchi premium in December 2017.

  • The company suspended all cryptocurrency deposits and withdrawals for about a month. So some Upbit ADA holders could not participate in ITN snapshop.

  • So, I sent an e-mail requesting the establishment of an ‘appeal counter’ (five times in three months). On 3.2 (Mon), I visited the upbit headquarters and protested.

  • Upbit stated in the Terms and Conditions that cryptocurrency deposits and withdrawals can be suspended to protect the majority in case of an emergency. So I only asked to open a reception desk to listen to customer feedback.

  • 3.18 (Wed), Upbit accepted my request.

  • (Reference) UBPIT supplemented 342,000 ETHs. Upbit has taken perfect steps to ensure there is no customer damage.

△ Change of ITN (3.18 (Wed) ~ 4.30 (Thu))

  • Upbit has paid customers at least 160 million tADAs. More than 1,300 Korean ADA holders participated in ITN. (Minimum estimate).

  • Many Upbit customers who participated in ITN late had a relatively small amount. I told these people how to use the wallet. They will have a good awareness of the proof-of-stake blockchain.

△ What I want to say

  • What happened in Korea can happen in other countries. When this happens, for the benefit of the ADA holders, someone has to act as a representative.

  • You need to know that it takes a long time to achieve your goal. Leaders need to organize their needs well. Also, he must repeatedly ask the party for the same content.

  • The community should encourage a lot of courage to the leader. And the leader must be aware that there may be some disadvantages. (Perhaps the leader will spend a lot of time.)

  • I am very grateful to the reasonable company Upbit. However, the company that has benefited from this is Upbit. Upbit is trying to prevent this from happening again. And they will make a lot of progress.

Thank you.

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