Major Crypto Exchanges Delist Centra Tokens Due to Lawsuit

Binance, KuCoin and OKeX warned users of a fraudulent Centra ICO project and announced their plans to delist CTR tokens
03 April 2018   1243

Today we have reported that the collective lawsuit was filed against Centra ICO. The project was accused of violating the US Securities Act, and the organizers of Centra ICO were charged with misleading investors about the company’s relationship with the payment services Visa and Mastercard, as well as in posting false information about its members on its website.

Following the announcement of Centra ICO being a fraud, major cryptocurrency exchanges started publishing notes warning the users of a fraudulent ICO project and delisting CTR tokens. Among the first exchanges which tend to delist the token are Binance, KuCoin and OKeX.

This is a special announcement about the high risk associated with the CTR token in light of the information released earlier today relating to the controversial and fraudulent acts by members associated with the Centra Tech team.

Binance Announcement

Binance stated that it will monitor the situation closely, and most probably take further actions including delisting, promising to inform the users about its intentions in a 72 hours notice.

KuCoin reported that it has subsequently conducted market research and analysis of the negative impact of the CTR project, and made a decision to delist Centra (CTR) tokens. CTR trading pairs closing date will be at 15:00:00 (UTC+8) on April 04, 2018, and CTR withdrawal function will remain open for some time.

OKeX has joined the above mentioned crypto exchanges and decided to close all Centratrading pairs starting from 15:10, April 3, 2018 Hong Kong Time. All pending orders of the trading pairs will be cancelled, but the withdrawal service of CTR will still be available until further notice.

OKEx to Launch Own ERC-20 Based Token

In total, 300 million OKB tokens have entered the public network and they have confirmed that are going to launch OKChain in June
29 April 2019   417

OKEx cryptocurrency exchange announced the launch of its own OKB token in the public blockchain. Starting from Monday, April 29, users will be able to display OKB tokens in wallets that support the ERC-20 standard, or in a cold storage in the exchange application.

In total, 300 million OKB tokens have entered the public network.

The developers also confirmed that they expect to launch OKChain in June. After the confidence that OKChain is working stably, OKB coins migrate from the ERC-20 standard to the main network of the new blockchain.

OKB tokens are intended primarily for the future decentralized exchange: they can be used to pay for transaction fees, as well as in decentralized applications based on OKChain. In addition, OKB will be used in the tokens' pre-sales, for voting and paying for the service fee of supernodals.

Of the 1 billion OKB, 700 million tokens are currently blocked. Of these, 300 million coins were originally to be distributed among OKEx users as part of a loyalty program. The remaining 400 million OKB will remain under the control of the OK Blockchain Foundation and Exchange teams. The lockout period will end in 2022.