Bitget, a cryptocurrency derivatives exchange that recently made the headlines for listing Floki’s TOKEN, is hit by a $10 million deficit.
Crypto derivatives exchange Bitget announced the delisting of TOKEN after the exchange was left with a $10 million hole. The platform listed the fake TOKEN, after the Floki team requested not to list the asset until seven days after it goes live. Binance CEO Changpeng Zhao criticized the exchange’s listing of the fake TOKEN. The exchange reportedly announced the delisting of TOKEN after citing potential price manipulation and liquidity issues.
On October 18, 2023, we put up a DAO proposal to launch the Floki staking program and a reward token that will target a trillion-dollar industry with strong potential. While we didn’t mention it in the DAO… pic.twitter.com/JGnlKmR0lo — FLOKI October 31, 2023 The exchange platform had initially criticized Floki’s TOKEN treasury and vesting schedule. The incident has left Bitget scrambling to recover its losses.
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