Mithril - $53 Million Binance BNB Refund

M

ithril, a blockchain social media initiative, has pleaded with Binance to issue a reimbursement of 200,000 BNB ($53 million) after the crypto exchange stripped its token from the trading platform.

The project stated that it paid a 200,000 BNB deposit to Binance as part of the initial listing in November 2018. “Given that Binance has unilaterally decided to end this partnership, we respectfully ask to have our 200,000 BNB deposit returned,” the project tweeted.

The project reported that it paid a staggering 200,000 BNB deposit to the trade platform -Binance- in November 2018. However, “Given that Binance has unilaterally decided to end this partnership, we respectfully ask to have our 200,000 BNB deposit returned,” the project tweeted.

At the time of listing in 2018, the BNB deposit would have been worth about $1 million.

The Mithril team staunchly asserted that they had been a dedicated partner of the digital currency exchange for some time. To add to this, when Binance Chain declared its presence in April 2019, MITH token was one of the first tokens available.

Mithril declared that a refund was integral for the continuation of its operations. The blockchain social media project has been practically dormant for two years now, with their last Twitter post dated January 7th 2021. Its website is also seemingly down as well.

On Thursday, Binance unlisted MITH as well as three other tokens. The statement underscored that the removed tokens no longer satisfied the platform's listing criteria.

Jonathan

An editor at Coincrop

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Jonathan is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.