Yet more cryptocurrency delistings at top exchanges – shitcoins begone!

Back in the good old days (if you can remember as far back as 2017) nearly any crytocurrency was fair game for exchanges, it did not seem to matter if the crypto had a project ongoing, a team behind it, a working product, a testnet or even a use case. Thankfully for the long term future of the crypto industry the great bear market of 2018 has come along and the start of the shitcoin purge has begun. Leading in to 2019 more and more delistings are going to happen so be careful what and where you put your money.

Where to buy Crypto

There are two main websites aiming to bring information about abandoned crypoto projects, scams, failed ICOs, etc in order to help inform us about potentially dangerous investments and we will in time be featuring their results in more detail. They are Coinopsy which lists nearly 500 dead cryptos, and DeadCoins which lists over 900. If you are looking at small cap coins it is always imperative you do your research and due diligence before investing. If not the coin you buy may be one of the many getting delisted from the top exchanges. Speaking of which…

Huobi and KuCoin have just announced yet more cryptos either on a final warning or being delisted:

KuCoin delisting 10 coins:

• Jibrel Network (JNT)
• WePower (WPR)
• Modum (MOD)
• EthLend (LEND)
• STK (STK)
• Asch (XAS)
• Bread (BRD)
• BitClave (CAT)
• Mobius (MOBI)
• Bitcoin Gold (BTG)

Huobi place 32 coins on probation (delisting warning):

• AppCoins (APPC)
• BitCapitalVendor (BCV)
• BnkToTheFuture (BFT)
• Datum (DAT)
• DigixDAO (DGO)
• EchoLink (EKO)
• Enigma (ENG)
• Everex (EVX)
• Gas (GAS)
• InvestDigital (IDT)
• Intelligent Investment Chain (IIC)
• Lunyr (LUN)
• MediShares (MDS)
• MyToken (MT)
• Metal (MTL)
• MedicalChain (MTN)
• Matryx (MTX)
• Ost (OST)
• Propy (PRO)
• QuantStamp (QSP)
• QunQun (QUN)
• Ripio Credit Network (RCN)
• Raiden Network Token (RDN)
• Rate3 (RTE)
• SALT (SALT)
• STN (STN)
• Tierion (TNT)
• Utrust (UTK)
• WePower (WPR)
• XMax (XMX)
• ZJLT (ZILT)
• Zilla (ZLA)

Below you will find the sources from Huobi and KuCoin.

Huobi Delisting risk warning and delisting:

“In order to promote the healthy development of the blockchain industry and protect the legitimate rights and interests of investors, Huobi regularly carries out comprehensive reviews of the listed tokens in accordance with the Token Administration Regulations of Huobi.”

1. Delisting risk warning
In any of the following cases, a delisting risk warning 【ST】 will be added as a prefix to the project code:
(1) Project teams failed to submit a weekly report, and had not submitted any weekly report for more than four times;
(2) The daily average trading volume of the tokens is less than 50,000 USD or other tokens with equivalent value for more than 15 days.
2. Delisting
In any of the following cases, the projects will be delisted:
(1) Project teams failed to submit weekly report for more than eight weeks;
(2) Project teams intentionally concealed any major events that may seriously affect the token price;
(3) Projects are suspected of illegal and criminal activities such as money laundering, fraud or pyramid selling;
(4) Occurrence of accidents, such as theft of coins by hackers, concealment of additional issuance and any other events that would bring significant risk to the projects.
(5) The daily average trading volume of tokens is less than 50,000USD or other tokens with equivalent value for more than 30 days.
(6) Project teams are suspected of maliciously manipulating the market;
(7) The publicity or marketing conduct of project teams damage the interest of HADAX or the community, and the circumstances are serious;
(8) Dissolution or change of project team members;
(9) Other circumstances that are sufficient for delisting.

Source

ST: KuCoin Delisting of Some Projects:

Dear KuCoin Users,

According to the [Special Treatment Rule] of KuCoin, the latest phase of the ST observation has ended. The following projects have been disqualified and the tokens will be removed from the exchange: 

• Jibrel Network (JNT)
• WePower (WPR)
• Modum (MOD)
• EthLend (LEND)
• STK (STK)
• Asch (XAS)
• Bread (BRD)
• BitClave (CAT)
• Mobius (MOBI)
• Bitcoin Gold (BTG)

The delisting process is as follows:

1. Deposits will be shut off  at 20:00 (UTC+8) December 21, 2018.

2. Relative trading pairs will be closed at 18:00 (UTC+8) December 24, 2018. For better management of your funds, we recommend that you cancel your pending orders of relative projects as soon as possible.

3. Withdrawals of relative tokens from KuCoin will continue to be supported until 18:00 (UTC+8) on March 21, 2019.

4. If you are currently holding relative tokens, please make your withdrawal on or before the closing date above.

Risk Warning: Investing in cryptocurrency is akin to being a venture capital investor. The cryptocurrency market is available worldwide 24 x 7 for trading with no market close or open times. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology. KuCoin attempts to screen all tokens before they come to market, however, even with the best due diligence there are still risks when investing. KuCoin is not liable for investment gains or losses.

We sincerely appreciate your support and understanding.

Regards,

KuCoin Team

Source

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