82 token wallets to be removed by Bittrex this month
Bittrex, one of the biggest cryptocurrency exchanges recently announces to de-list some of the token wallets by the end of this month. This has been done to ensure user access only to functional blockchains and coins that strictly meet Bittrex’s criteria.
Token removal by Bitrex
Bittrex announces wallet removal on March 30. Along with this, the official team also warns the investors of the removed tokens to withdraw their coins before wallets are removed, else they will not be able to receive the same from them.
“We will be removing the wallets included in the list below on March 30, 2018. Once these wallets are removed, we will no longer be able to recover these coins. Users must withdraw their coins before March 30, 2018, in order to keep them.”- Bittrex's support team
As clarified by Bittrex, crypto exchanges remove coin wallet or market from the Exchange so as to ensure that the list has only those tokens that meet “strict listing criteria”. Only the coins with functional blockchains and wallet will find a place on the exchange platform. The list of coins to be removed is as follows
8BIT, ADC, AM, AMS, APEX*, ARB, BITS*, BITZ*, BLC, BOB, BSTY, BTA, CCN, CRBIT*, CRYPT*, DAR, DGC, DRACO, DTC, FC2, FRK, FSC2*, GEMZ, GHC, GP, GRT, HKG, HYPER*, HZ, J, KR*, LXC*, MAX, MEC, METAL, MND, MTR*, MZC, NAUT, NET, NEU*, NTRN, OC*, ORB, PRIME*, PXI, ROOT*, SCOT, SCRT*, SFR*, SLG
SLING*, SOON, SPRTS, SSD*, STEPS*,STV, SWING, TES, TIT, TRI, TRK, U*, UFO, UNIQ*, UNIT, UNO, UTC, VIOR*, VIRAL*, VPN, WARP*, XAUR, XBB, XC, XCO, XDQ*, XPY*, XQN, XSEED*, XTC, and YBC*
Bittrex further clarifies that the ones with an asterisk (*) sign have non-functional wallets or blockchains that will not allow withdrawals. It says
“In those cases ( ones with * mark), the inability to withdraw your balance is not due to the Bittrex Exchange platform, but is caused by a problem with the underlying blockchain or wallet associated with that coin.”
SEC and token removal
Considering the possibilities of fraudsters luring crypto trade newbies through “market manipulation schemes”, The US Securities and Exchange Commission (SEC) recently issued warnings.
“Fraudsters often try to use the lure of new and emerging technologies to convince potential victims to invest their money in scams. These frauds include ‘pump-and-dump’ and market manipulation schemes involving publicly traded companies that claim to provide exposure to these new technologies,”- SEC
These warnings made it mandatory for the US-based crypto exchange platforms to either register all their tokens with SEC or de-list them. Following this, big players like Bittrex have announced de-listing of wallets. One can certainly expect other exchanges platforms delisting the wallets.