Statement Regarding CoinsMarkets

Saturday 10 March 2018

We have been trying to contact CoinsMarkets since they went down, but have never received any information from them, except for while they were still running. If you have been following the situation, you would see that only one coin’s withdrawal (ECA) has been opened, and that has been speculated that the two teams are the same. It doesn’t make sense that months of website downtime were due to ‘database issues’, and then proceed not to open any major coin withdrawals. This is not an issue that should take that long.

We have no reason to believe that all coin withdrawals will be opened either soon, or at all. The decision was made to continue with the CRAVE coin burn.

One option was to wait (possibly months, or more) for their trading to open again. This would carry growth risks as well, as we would not have accurate statistics, or be able to move on past the coin swap, only giving more confusion. And in the case that they never come back fully functional, this would be for nothing. The other option was to just make the tough decision and move on.

Sincere apologies to anyone affected by the CoinsMarkets situation. For the sake of everyone who held coins there, hopefully we made the wrong decision. If there could be any positives taken, it may serve as a learning experience that unless you have control of your private keys, you do not actually own your coins. Be careful of holding your coins on exchanges.

CRAVE Core Team

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