With SpaceX drawing attention as it goes public in the United States, Korea's virtual asset exchanges Upbit and Bithumb have in quick succession listed SPX6900 (SPX) and Space Coin (SPACE), whose English abbreviations are similar. These virtual assets are coins unrelated to SpaceX, raising concerns about investor losses due to user confusion.

On the 16th, Upbit began transaction support for SPX from 2 p.m. At the same time, Bithumb listed SPACE, and trading for SPX is set to begin at 5 p.m. the same day. The two virtual assets are similar to SpaceX's ticker (the alphabet indicating a stock symbol), "SPCX."

A view of the Upbit virtual asset exchange operated by Dunamu (left) and the interior of the Bithumb customer center./Courtesy of each company.

The two virtual assets are coins unrelated to SpaceX. SPX's white paper introduced it as a memecoin project that, under the logic that "6900 is greater than 500," criticizes the limits of the traditional U.S. S&P 500 index and seeks to surpass them.

SPACE is a "decentralized physical infrastructure network (DePIN)" project that uses a low-Earth-orbit small-satellite constellation to build a distributed satellite internet network worldwide. It aims for a "permissionless space data network" that does not rely on existing telecom companies or governments.

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