On December 15, cryptocurrency exchange Binance announced that four tokens—Mithril (MITH), Tribe (TRIBE), Augur (REP), and Bitcoin Standard Hashrate Token (BTCST)—would be delisted from the exchange effective December 22 due to non-compliance with the ” high level of standard they expect.
On the heels of the announcement, decentralized social media protocol Mithril, whose token had a market capitalization of less than $10 million at press time, public the following statement on Twitter:
“Today, Binance has announced that it will delist MITH. As part of the MITH listing, Binance required a deposit of 200,000 BNB, which was never returned. On behalf of the Mithril community, we ask @cz_binance to return this deposit so that Mithril can continue to operate.”
At the time of the initial listing, 200,000 BNB (BNB) was valued at USD 1.9 million. At press time, it was worth $52.7 million.
Initially, users criticized Mithril’s Twitter account, which had been inactive for almost two years, with the last post on January 7, 2021. At the time of publishing this article, the official website of the project appears offline.
Lmao project that was dead for 2 years and didn’t have a single Tweet since Jan 2021 rushes to Twitter to ask for their money back after delisting.
Delisting happened this morning, funny how fast they were to complain after being dead silent to holders for those 2 years. https://t.co/5jRxoQEGyf
—Tree of Alpha (@Tree_of_Alpha) December 15, 2022
The Lmao project that was dead for 2 years and didn’t have a single tweet since January 2021 rushes to Twitter to ask for its money back after being delisted.
The delisting happened this morning, funny how quickly they complained after staying silent with the holders for those 2 years.
However, the matter seemed to be more sophisticated than was initially understood. In an initial listing document published by Binance dated November 15, 2018, the exchange claims that the 200,000 BNB was, in fact, a donation:
“Binance will open trading for the MITH/BTC and MITH/BNB trading pairs at 2018/11/15 2:00 pm (UTC). Users can now start depositing MITH in preparation for trading. The Mithril team will donate an amount equal to 20,000 BNB to the Blockchain Charity Foundation in appreciation of this inclusion.
Cointelegraph previously reported in 2019 that, at the time, Binance was requesting consideration from newly listed crypto projects, which the exchange denied as “listing fees.” Those policies have since changed.
Cointelegraph has reached out to Binance for comment but has not heard back by press time. This is a developing story and will be updated accordingly.
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