CoinUp issued an official statement on June 23 addressing recent rumors circulating in the community and the abnormal price fluctuation of its CPX token, clarifying the background of relevant individuals, explaining the cause of the price movement, and reaffirming the platform's security posture. The statement covers four main areas: personnel relationship clarification, price volatility explanation, response to false information, and subsequent measures.
Clarification on Zhu Pan's Identity: Not a CoinUp Platform Member
The statement explicitly states that Zhu Pan is not a member of the CoinUp platform and does not participate in the platform's core management or operations. His actual role is the project party of a project listed on CoinUp. External attempts to tie Zhu Pan's personal conduct, historical project experience, or market rumors directly to CoinUp as a platform are inaccurate interpretations. CoinUp emphasized that it operates on a platform-oriented, compliant, and team-based model, with core business, user assets, risk control systems, and product services independently managed by the CoinUp team.
Explanation of CPX Price Anomaly
Regarding the sharp short-term fluctuation of the CPX/USDT trading pair, CoinUp pointed out that the fluctuation primarily stemmed from concentrated selling pressure on the market side. The platform is further investigating and verifying the specific reasons and will update users promptly based on findings. Security checks have confirmed that CoinUp has not suffered any hacker attack, data breach, or system vulnerability exploitation. The wallet system, account system, and asset custody remain secure and under control. Deposit, withdrawal, trading, and other functions are operating normally, user assets are safe, account data is intact, and no user asset losses have occurred.
Position on False Information and Malicious Association
CoinUp firmly opposes any content that forcibly associates the platform with unverified personal rumors or historical project disputes, or uses definitive terms such as "exit scam" or "fraud." The platform respects media oversight and welcomes community questions and suggestions, but rejects misleading dissemination lacking factual basis. CoinUp reserves the right to legally pursue those responsible for malicious defamation that damages platform goodwill and user confidence.
Platform Follow-Up Measures
In the statement, CoinUp announced four follow-up actions: continuing to investigate the cause of CPX abnormal fluctuations and updating the community in a timely manner based on findings; strengthening information disclosure and management of ecosystem projects, partners, and relevant responsible persons; improving the platform's risk control monitoring mechanism to maintain market trading order; and continuously ensuring the safety of user deposits, withdrawals, trading, and account assets. CoinUp stated that it always prioritizes user asset security and the long-term development of the platform, and urged users to refer to information released through official CoinUp channels, view market fluctuations rationally, control trading risks, and beware of false rumors.