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SPIN Protocol abolishes listing on CoinOne, No place to sell for investors

Blockchain-based beauty e-commerce platform SPIN Protocol was abolished on the 28th at CoinOne, a domestic cryptocurrency exchange. In response, investors are complaining about where to sell SPIN tokens. Coinone announced, “Without resolving the reason for designating a significant event, we will end trading support for SPIN Protocol (SPIN), Fantom (FTM), and TROY.” Three Coin deposits and transaction services will close on the 12th of the following month at 3 pm. Withdrawal support ends at 3pm on the 26th of the following month. Earlier, SPIN Protocol was designated as an investment stock at CoinOne on the 10th because it was concerned about investors’ damage due to trade continuity and minimum transaction volume and increased risk of market manipulation. At that time, the exchange mentioned, “Coinone will propose an improvement plan to keep the listing and decide to abolish the listing if it does not improve for more than two weeks.” Since then, investors in the SPIN Protocol community are frustrated because they have no way to contact the company regarding the coin disposal. The company has closed the existing medium, Twitter, and Facebook, and is effectively neglecting the Korean and English telegram communities. Block Media also asked for coverage to listen to the SPIN Protocol, but could not hear the answer. Even after contacting Cosmochain, which decided to acquire SPIN Protocol, it was all answered that it was “same as that announced by SPIN Protocol”. On the 29th of last month, Cosmochain announced the acquisition of the SPIN Protocol, and said, “We will issue a ‘new COSM’ through a hard fork of COSM and SPIN tokens.’ After the announcement of the takeover, Cosmochain issued an additional random issue of COSM without disclosing it to investors. Afterwards, Cosmochain said in a meeting held last week with holders, “The acquisition of SPIN Protocol will continue. We are communicating with SPIN once a day.” In addition, he said that SPIN Protocol was designated as a significant item in CoinOne, and it has nothing to do with Cosmochain. https://www.blockmedia.co.kr/archives/149715 ※This article is published with the permission of Blockmedia.

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