Binance, the world's largest cryptocurrency exchange, announced yesterday that it has delisted five altcoins.
Among these altcoins was the altcoin called Gifto (GFT).
However, the altcoin team took action after the delisting news and minted new tokens.
Blockchain security expert ZachXBT shared on his X account that after Binance announced that GFT would be delisted on November 26, 2024, the Gifto team printed another 1.2 billion GFTs on BSC.
Noting that the total supply of GFTs more than doubled with this minting, ZachXBT stated that the GFT team later deposited these GFTs to Kucoin, MEXC HTX, Bitget, Binance, OKX and Gate.
The GFT price, which started to decline after Binance's delisting announcement, continues to be traded at $0.006 with a 42% decrease.
It was announced that Binance would delist GFT on Nov 26, 2024.
A few hours ago the Gifto team minted another 1.2B GFT on BSC which more than doubled the total supply.
GFT was then deposited to Kucoin, MEXC HTX, Bitget, Binance, OKX, & Gate.
Binance… pic.twitter.com/buvG9l88Yc
— ZachXBT (@zachxbt) November 28, 2024
*This is not investment advice.
