South Korean Firm Bitmax Denies Selling Bitcoin

Decentralized Storage for Enhanced Security Explained

On the 18th, Bitmax, a virtual asset treasury company listed on South Korea's Kosdaq, issued an official statement denying speculation about the sale of its Bitcoin (BTC) holdings following their transfer to foreign exchanges.

The statement, posted on the official website under the name of CEO Hong Sang-hyuk, clearly stated that 'not a single Bitcoin has been sold.' It further explained that assets were withdrawn from the country's largest bank-affiliated custodian and transferred to overseas exchanges such as Bybit and Binance...