In what is being described as a “creative” new revenue stream, unregulated cryptocurrency exchange Binance is offering token developer teams the opportunity to be de-listed from Binance for a substantial fee.
The move came after an extremely suspicious hack on Binance, and the following open discussions about asking miners to carry out the biggest block re-org in the history of BTC.
“When I read what they were planning to do I had to double check I wasn’t reading the Onion,” says dev team leader of Cosmos, @Hacktheplanet69. “We never asked to have our coin listed on Binance, and now that it’s there we’ve probably lost about three corporate contracts from large businesses who think we’re a scam coin. They just assume we’re associated with that friggin’ exchange. When I contacted Binance to get the coin removed, they said they wanted $2 million worth of BNB, their own shitcoin, in order for them to remove the coin!” @Hacktheplanet69 threw his coffee mug at his computer and didn’t want to continue the interview.
We spoke with CZ from Binance about the new costs. “Yes when I made the very wise decision not to roll the BTC blockchain back 250 blocks to recover our money because I care so much for the BTC community, for some reason all the applications we had for coins to be listed on Binance were withdrawn straight away. Then 4 teams representing coins that we had recently listed asked for their coins to be removed from Binance. On top of that the coin we delisted recently, BSV, pumped 10%. So now I can see there’s a big demand to NOT be listed on Binance. So we plan to innovate around that space, and we hope to be doing an ICO with a new token called Delist Coin. It’s a special utility token that gives you a 20% discount on the de-listing fees for Binance.”
Internal documents obtained by CBD show correspondence inside of Binance discussing jurisdictions that are friendly to this brand of extortion, with Binance considering a re-location of their company to South Sudan, Antarctica, or possibly a large boat in the middle of the Atlantic Ocean.