Indian Cryptocurrency exchange, Zebpay de-listed VeChain (VET) token, the announcement was made on its official Twitter handle on August 8. Zebapay tweeted, “Zebpay regrets to inform all our valued traders that we are delisting VeChain token and discontinuing VeChain trading and transfer transactions.”
In the Zebpay blog they have mentioned that the deadline for VET deposits is August 9, 2018, 4 PM IST. Whereas, the deadline for withdrawals, the deadline is August 20, 2018, 4 PM IST. The exchange further mentioned that the platform will be auto-cancelling all the pending orders post 4 PM.
It comes as shock to the people in the crypto-verse, mainly because no explanation was provided for it. In fact, one of the Twitter user, Alok Sharma, on the news even 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.”
Recently, VeChain had its MainNet launch, swapped VEN tokens to VET tokens. Currently, the token ranks 21 according to its market capitalization on CoinMarketCap.
Another Twitter user, Ashish commented, “Hi Zebpay why you delisting the VeChain token? Any reason please tell. Are you going to remove all the cryptos slowly or just randomly you are doing that. Please support otherwise it will create FUD for the cryptos future in India. Or its just the vechain.”
The trading platform based out of India currently has 19 cryptocurrencies listed on it and trading pairs more than 35. The above statement comes from the user because Zebpay has faced a number of challenges from the legal authorities of India. Moreover, Supreme Court of India’s decision regarding the stay of cryptocurrencies is due and will only be out on September.
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