Bitget announced on October 27, 2023 that TokenFi (TOKEN) was listed in the Innovation Zone of the spot market. According to the Innovation Zone rules, a 60-day valuation period is given for all newly listed pairs in the zone.
Bitget Decided to Delist TokenFi (TOKEN)
After TokenFi's (TOKEN) trading service launched, significant price fluctuations were noticed.
It was also found that the project team only added less than $2,000 of tokens to the DEXs' liquidity pool and was suspected of engaging in market manipulation by maliciously controlling the initial liquidity.
Additionally, during further investigation of the project, more potential issues were discovered, such as an opaque token economy and an unclear vesting schedule.
After thorough evaluation, Bitget has decided to delist TokenFi (TOKEN) and initiate a buyback plan for users holding tokens on Bitget.
Bitget has suspended TokenFi (TOKEN) deposit and trading services and canceled all pending orders.
*This is not investment advice.
