PANews reported on October 24 that according to Decenter, Korean cryptocurrency investors are facing financial losses due to the sharp price fluctuations of XENT tokens on the Bithumb exchange. XENT tokens are only listed on Bithumb and have plummeted by about 90% in five months since their first trading in July last year. In April this year, after Bithumb decided to closely monitor the token, its value fell further by 82%. In June, the exchange announced plans to delist the token, causing its price to fall another 53%. Although the court injunction temporarily prevented the delisting, causing the token price to soar by nearly 1,400%, the price fell again by 40% this month after the court ultimately supported Bithumb's decision. According to reports, Bithumb has earned 4.6 billion won (US$3.33 million) in fees from XENT transactions in the past year and three months. South Korean lawmaker Lee Hoon-sung criticized cryptocurrency exchanges for failing to adequately review the listed tokens, thereby exacerbating investors' losses.
Bithumb’s delisting of XENT caused losses to investors, but the exchange earned $3.33 million in fees
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