Upbit Denies Charging Listing Fees, Maintaining No Fees Exist for Token Listings

Upbit has firmly addressed allegations of charging high listing fees, asserting no such fees exist and their process is transparent.

A rumor circulating on social media claims that Upbit, a prominent South Korean cryptocurrency exchange, demands high listing fees from projects to grant them a spot on its platform. However, Upbit has publicly denied these allegations.

In a statement shared with Blockware Solutions, Upbit asserted that no listing fees are charged and their process is transparent, which can be viewed on their website.

“There are no listing fees on Upbit. Upbit has a transparent listing policy, which is available on the exchange’s website,” a spokesperson stated.

The rumors arose after Wu Blockchain, a renowned crypto news platform in China, posted about it on X, formerly known as Twitter.

In response, Upbit sought proof from Wu Blockchain for the listing fee claims.

“We are not sure where this rumor started, but we can confirm that it is not true. We encourage Wu Blockchain to share any information they have about listing fees on Upbit.”

The crypto community quickly engaged with the post, highlighting the importance of transparency in exchange operations. One user noted the high standard required for U.S. exchange listing, in contrast to rumors of easy listing elsewhere for a fee.

This conversation gained attention due to the prominent place South Korea holds in the crypto sector. The country is known for its robust crypto adoption and the widespread use of cryptocurrencies among the population.

Earlier this year, a crypto analyst at TokenPulse, Giovanni Cecchi, also touched upon the lack of transparency in crypto exchange operations.

According to Cecchi, this aspect contributes to the deceptive nature of crypto in the eyes of newcomers, who may be misled by influencers and online scams.

“Newcomers to the crypto sector are often met with a deceptive side of the industry. A small number of influencers tend to hype up specific tokens, which attracts new investors who are then used as scapegoats when the tokens inevitably crash.”