UPbit open beta launched by Bittrex

South Korean fintech firm Dunamu launches its cryptocurrency exchange Upbit
27 October 2017   12272

Back to September

It has been reported that South Korean Internet company Kakao in partnership with the popular American crypto exchange Bittrex was going to launch a new trading platform, UPbit, in October.

The registration has been available on the website of the new exchange since its announcemet. At the moment of writing, there was no much info on the website except the release date of the app (October). The Korean exchange was to use the technologies developed by Bittrex. The companies were going to use the technology of Bittrex, likely rebranding their platform for Korean users, which means there will be 200 cryptocurrencies and assets available.

UPbit beta launched, October

Now, a South Korean fintech firm Dunamu, subsidiary of Kakao Inc.,launches Upbit in beta. Dunamu has started offering an open beta service for Upbit from October 24, 2017.

The platform supports markets that can be traded with Korean Won (KRW), Bitcoin (BTC), Ethereum (ETH) and Tether (USDT). In order to launch the exchange, Dunamu has signed an exclusive partnership agreement with the leading cryptocurrency exchange Bittrex. The BTC market, ETH market and USDT market will be offered through Bittrex.

With the partnership with Bittrex, we are not only able to support the largest number of digital currency trading services but also have addressed problems such as inconveniences of existing Altcoin investment, time delays and complicated account management. Starting with the open beta service, we are planning to provide services that are optimized to domestic trading conditions.
 

Song Chi-hyung
Dunamu Chief Executive

On top of that, Dunamu focused on improving dafety by adopting Bitgo’s double wallets for added wallet security and consulting Theori, a four-time winner of DEF CON hacking finals, for security as well.

During the open beta service period, users will be able to access all the functions of Upbit through desktop, Android, and iOS platforms.

Bittrex to Cancel RAID Crowdsale

The official reason was cancelation of the strategic partnership between the RAID project and the OP.GG company
15 March 2019   209

Bittrex International Cryptocurrency Exchange announced the cancellation of the first IEO on its platform. The official reason was cancelation of the strategic partnership between the RAID project and the OP.GG company. Representatives of the trading platform felt that in such a situation holding a tokensale contradicts the interests of investors.

Another reason for Bittrex decision could be an investigation published on Coinspeaker.

So, it turned out that the Singapore company issuer ONERAID PTE. LTD is not in the official register of legal entities from the Singapore company regulatory authority (ACRA). At the same time, several company names contain the word “Raid”: one sells alcohol, the other sells clothing and accessories. A few more are registered before 2010 and seem inactive.

It is noteworthy that any information about the company is missing in Google. Also no LinkedIn and Facebook accounts of founders were found. The founder of OP.GG Cheonwoo Park, whose company, according to Forbes, attracted 32 million active users in 30 countries, could not be found in social networks.

OP.GG has stopped all potential business discussions related to RAID project and there will be no economic and technical cooperation with RAID coin.
In addition, OP.GG has no intention of developing any blockchain related business utilizing RIOT GAMES data.
OP.GG will take all possible legal measures against individuals or organizations disseminating false facts related to this.
Thank you.
 

OP.GG Website

At the same time, the project’s Twitter itself says that it has nothing to do with RIOT GAMES.

At the same time, all the names of the co-founders are South Korean. The fact that the non-existent Singapore company most likely did not hire a single Singaporean also seems strange.

In light of the opening facts, the decision to change the XRD ticker to RAID also looks suspicious. It was probably taken in a hurry, since the RaidOfficial Twitter account has already existed since May 2010.