Cryptocurrency Exchange Yobit Runs Suspicious Operations

News and Analysis

Blockchain platform Waves has issued a statement to warn users about suspicious operations with Waves tokens at cryptocurrency exchange Yobit.

Pre-sale of Waves tokens was finished on Wednesday, June 1. Even though the coins cannot be withdrawn from a personal account as yet, Yobit mysteriously added a WAVES/BTC pair.

The statement posted in the project’s official blog reads:

“We have no evidence that the exchange’s administration took any part in Waves’ crowdsale, nor that it has any amount of WAVES coins. Moreover, Waves’ team attempted to contact Yobit’s administration to no avail”.

The project notes that, as Waves tokens cannot be withdrawn from a personal account at the ICO website, they most certainly cannot be deposited at the exchange.

“In fact, Yobit sells some liability to provide Waves’ tokens to users in the future,” the statement adds.

Waves team also noted that the price of 1 Waves token at Yobit significantly exceeds its current market price, which stands at 0.027 BTC (around $14) at the moment of publication.

Notably, similar situation has already occurred to other projects that had recently held an ICO, like Lisk.

“We do not recommend to effect any buy/sale operations with Waves coins until the main network is launched to the full extent, and coins have become withdrawable from the personal account,” Waves’ statement reads.

Waves managed to raise nearly $16 million over the course of its recent ICO. Officially, Waves tokens will become tradeable as of June 14.

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