Re: [$XVG] VERGE [POW][MultiAlgo][BLACKHOLE][Entire Line of TOR/i2P Resources]
A technical glitch? And what kind of consequences did that "technical glitch" actually lead to? Why can't they just let you trade your coins?
If I've read correctly, C-CEX didn't deploy the XVG hard fork correctly and this resulted in loss of coins (That's some pretty terrible sysadmin work if it's true).Customers of C-CEX got angry about their losses so C-CEX issued a token to replace customer's XVG (presumably it was to be redeemed 1:1 for XVG later).
People started trading the token rapidly. The token quickly dropped to almost no value. If the token is ever redeemed for XVG, somebody will make a lot of money. If the token is not redeemed, there will be some big bagholders.
There should be some downward pressure on price as C-CEX either tries to tank XVG so they can buy back, or they distance themselves from the scandal and XVG loses another exchange platform.
Thank you for the summary classicsucks. The situation is fucked from several perspectives, damn it. I would like to know why that replacement token dropped to nearly zero value. If c-cex admins themselves got greedy and used a pseudonym to spread FUD about their promise attached to the replacement token, they could indeed purchase XVG and credit those to (their?
) accounts that bought all those cheap replacement XVG. Then they could show the public that they sticked to their promise. Difficult and fishy...