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Project alleges unreturned listing deposit as Binance announces delistings

On Dec. 15, cryptocurrency trade Binance announced that 4 tokens — Mithril (MITH), Tribe (TRIBE), Augur (REP) and Bitcoin Normal Hashrate Token (BTCST) — could be delisted from the trade efficient Dec. 22 because of not assembly the “excessive stage of normal we anticipate.”

Instantly after the announcement, decentralized social media protocol Mithril, whose token had a market capitalization of lower than $10 million on the time of publication, posted the next assertion on Twitter:

“At present, Binance has introduced that it’s going to delist MITH. As a part of the MITH itemizing, Binance required a 200,000 BNB deposit, which was by no means returned. On behalf of the Mithril neighborhood, we ask @cz_binance to return this residue in order that Mithril could proceed to function.”

On the time of the preliminary itemizing, 200,000 BNB (BNB) was valued at $1.9 million. As of the time of publication, it was price $52.7 million.

Initially, customers panned the Mithril Twitter account, which had remained dormant for almost two years, with the final submit happening on Jan. 7, 2021. On the time of publication, the challenge’s official web site seems offline.

Nevertheless, the problem seems to be extra refined than first understood. In an preliminary itemizing doc published by Binance dated Nov. 15, 2018, the trade said: 

“Binance will open buying and selling for MITH/BTC and MITH/BNB buying and selling pairs at 2018/11/15 2:00 PM (UTC). Customers can now begin depositing MITH in preparation for buying and selling. The Mithril workforce will donate a 20,000 BNB equal quantity to the Blockchain Charity Basis in appreciation for this itemizing.

Cointelegraph beforehand reported in 2019 that on the time, Binance solicited concerns from newly listed crypto tasks, which the trade denied as being “itemizing charges.” These insurance policies have since modified.

Cointelegraph reached out to Binance for remark however didn’t obtain a response by publication time. It is a growing story and will likely be up to date accordingly. 

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