Zebpay de-lists VeChain [VET], provides no explanation

On 8th August, the official Twitter handle of a leading cryptocurrency trading platform Zebpay announced that it is de-listing VeChain token. The Twitter announcement read:

“Zebpay regrets to inform all our valued traders that we are delisting VeChain token and discontinuing VeChain trading and transfer transactions.”

The deadline for VeChain deposits is 9th August 2018, 4 PM IST, whereas, for withdrawals, the deadline is 20th August 2018, 4 PM IST. Zebpay, in its official announcement, also mentioned the deadline for VeChain trading, which is 13th August 2018, 4 PM IST. Moreover, the platform will auto-cancel all the pending orders placed post 4 PM.

Alok Sharma, a cryptocurrency space follower, on the news commented:

“They should have provided the reason for sure which they didn’t but I knew they’ll definitely do so bcus ven is no more into existence there’s vet which is it 100th part(I believe) of ven and these guys didn’t support token swap so that’s why they are delisting it.”

Another crypto-enthusiast, Ravi Maheswari also wrote:

“Ohh the main net swap was too much to do for you guys?”

VeChain recently had its MainNet launch where it swapped its VEN tokens to VET [VeChain Thor] tokens. Currently, the cryptocurrency ranks at the 21st position according to its market capitalization on CoinMarketCap. Moreover, the price of the VEN token has dropped to a steep 21.46 in the past 24 hours.

Zebpay is a leading cryptocurrency trading platform based out of India. Currently, the platform has 19 cryptocurrencies listed on it, with trading pairs more than 35. Earlier in the week, Zebpay also announced that it will provide a 50% discount on transaction fees of certain cryptocurrencies.

Zebpay has also faced challenges from the legal authorities of India after not receiving much cooperation from them. The decision of the Supreme Court of India regarding the stay of cryptocurrencies is due in the month of September.

 


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