South Korean DAT firm Bitmax denies selling Bitcoin holdings

South Korean digital asset trust (DAT) company Bitmax has denied selling any of its Bitcoin holdings. The statement follows a local media report claiming the firm had deposited all its holdings on an exchange immediately prior to a 4-for-1 capital reduction without compensation. Bitmax CEO Hong Sang-hyuk stated that the company's digital asset holdings are transparently reported in its public business and audit reports. He added that the assets are securely stored, having undergone thorough verification and auditing by an external accounting firm, and are distributed across multiple secure wallets to enhance security and operational efficiency.