Bybit to Compensate $26 Million Over Notcoin Listing Issues
The cryptocurrency exchange Bybit has devised a compensation plan for users affected by the delay in Notcoin deposits on the listing day, May 16. Due to communication and technical issues, clients received tokens late and were unable to sell them immediately.
Compensation plan for yesterday affected NOTcoin airdrop Bybit users:
30 $MNT Airdrop, $50 trading bonus as well as VIP +1 Upgrade for 3 month.
For our VIP users, additional Bonus up to $500 will be given as well according to your VIP tier.
Total around $26M compensation…
— Ben Zhou (@benbybit) May 17, 2024
According to the platform’s statement, all 320,000 clients will receive 30 MNT, a $50 trading bonus, and a VIP +1 upgrade for three months.
VIP users will be granted an additional bonus of up to $500, depending on their tier.
“The total compensation amounting to approximately $26 million will be processed within three working days, and emails will be sent to you,” stated Bybit CEO Ben Zhou.
He promised to thoroughly investigate the situation to prevent similar issues in the future.
Journalist Colin Wu, citing an internal letter from Bybit’s management, reported that following the Notcoin deposit delay incident, several exchange executives “voluntarily resigned,” and the exchange publicly hired new technical and spot managers.
In a comment to CoinDesk, a Bybit representative stated that the affected team members did not leave the company but transitioned to other internal positions.
After trading began on major centralized exchanges on May 16, the NOT token lost 65% of its value.
By the end of May, the coin managed to recover to pre-listing levels and is trading at $0.011 at the time of writing.
Рассылки ForkLog: держите руку на пульсе биткоин-индустрии!