Binance MOB Coin Crash - Lost Everything Due to Delayed Delisting Notification!

Gökhan · 2024-03-27T06:31:31+03:00

At Binance Global, I unfortunately experienced a significant loss in my assets due to the sudden and drastic 400% crash of MOB Coin within a 15-minute period. Surprisingly, the coin got removed from the list, but I only received the notification about it several hours after. I've had a similar problem before with FTT. I find myself in quite a challenging predicament. In an effort to recoup my losses, I decided to borrow money and put 5,000 USD into a parallel coin. Unfortunately, I ended up losing that investment as well. I am currently overwhelmed by financial obligations and feeling extremely hopeless. I kindly request that Binance address this matter and consider compensating me for the losses I have incurred. This situation emphasizes the significance of prompt and open communication from cryptocurrency exchanges. Notifications of delisting that are delayed can have severe consequences for investors. I strongly encourage Binance to promptly address this issue and implement measures to prevent any future occurrences.

Gökhan

I want to add this detail. Due to a low-risk cross-margin position with Mob coin, my assets in Luna were liquidated with a 400% drop in 15 minutes. I lost more than 5000 USDT in just 15 minutes. Disappointed by the significant loss I noticed, I hoped to recover it after Mob settled and bought from the bottom with 5000 USDT. However, I lost that too as the rapid decline continued. So, I lost all my assets. All my years of savings disappeared, and I was left with a heavy burden of debt. I think my previous report was translated a bit incompletely due to Transpate translation. It would greatly satisfy me if a global and powerful market like Binance could alleviate the distress of someone like me, struggling with low income and an economic crisis.

Binance

Hello Gökhan D., Thank you for reaching out to us through Şikayet Var. Dear user, You can access our announcement dated 2024-03-20 09:00 via the link below: https://www.binance.com/tr/support/announcement/binance-03-04-2024-tarihinde-drep-mob-ve-pnt-yi-listeden-kald%C4%B1racak-1e531578a30c46eebf52c8dae3c56092 The big red candle also appeared that day. Extreme volatile movements can be observed in the prices of the products to be delisted. The "Monitored" tag is applied to tokens that exhibit noticeably higher volatility and risks compared to other listed tokens. These tokens are closely monitored through regular reviews. Please note that these tokens are at risk of no longer meeting our listing criteria and being delisted from the platform. Do Your Own Research (DYOR). The list is updated in the first week of each quarter (Jan, Apr, Jul, Oct). https://academy.binance.com/tr/glossary/do-your-own-research It is very important that you do your own research and especially follow the channels of the producers of the products you invest in. We would like to remind you that you can reach us 24/7 in Turkish via live support for all your questions regarding your Binance account. www.binance.com/tr/chat Gi Binance team

Binance

Hello Gökhan D., Thank you for reaching out to us through Şikayet Var. Dear user, You can access our announcement dated 2024-03-20 09:00 via the link below. https://www.binance.com/tr/support/announcement/binance-03-04-2024-tarihinde-drep-mob-ve-pnt-yi-listeden-kald%C4%B1racak-1e531578a30c46eebf52c8dae3c56092 The big red candle also appeared on that day. Extreme volatile movements can be observed in the prices of the products that will be delisted. The Monitoring Tag is applied to tokens that exhibit noticeably higher volatility and risks compared to other listed tokens. These tokens are closely monitored through regular reviews. Please note that these tokens are at risk of no longer meeting our listing criteria and being delisted from the platform. Do Your Own Research (DYOR). The list is updated in the first week of each quarter (Jan, Apr, Jul, Oct). https://academy.binance.com/tr/glossary/do-your-own-research It is very important that you do your own research and especially follow the channels of the producers of the products you invest in. We would like to remind you that you can reach us 24/7 in Turkish through live support for all your questions regarding your Binance account. www.binance.com/tr/chat Gi Binance team

Gökhan

Dear Binance Officials, Of course, immediately following this news, all our assets were wiped out with a 15-minute candle. I'm not denying that. As someone who frequently follows Binance on mobile, I couldn't keep up with the speed of this crash. Everything happened in just a few minutes. The main issue is that the news alert you issued came hours after the crash. If it had come before the crash, we would have taken the necessary precautions. This is an attack war. It is a raid carried out without warning. How can precautions be taken after the raid has been carried out and everything is set on fire? This crash is not just about the insecurity of mob Coin; it is about the insecurity of Binance. You can devastate any coin with your news. We experienced the same thing with FTT. The coin crashes, but we are the ones left underneath. You leave us no way to take precautions. You shouldn't be able to bury a coin with just one piece of news. There should be a crash phase. There should be an opportunity to escape. Within 5 minutes, the delist warning and the notification that all my assets have been wiped out come immediately. Why isn't the news you publish communicated to us with the same speed? Why is it communicated hours later? This is the main issue.

Gökhan

Correction: At 09:05, I receive an instant notification via both message and email that all my assets are liquid. Why isn't the news that this coin is delisted communicated to us with the same speed before this crash? Why is it notified hours later? This is the main issue.

Gökhan

The evidence that the announcement regarding the removal of trading pairs came to us hours later through Binance is present in the visual.

Gökhan

If Mobcoin had left its investors trapped with downward candles like 4x due to volatile movements, and if you had decided to delist Mobcoin because of its insecure movements and the grievances of its investors, I would have directed this complaint to Mobcoin officials, not to you. But it is you who caused Mobcoin to plummet within minutes, leaving us no way to take precautions. Therefore, the cause of this grievance is the Binance market. You can be sure that I will defend my rights by using all my legal rights on this matter. Therefore, I expect a reasonable solution from you.

Gökhan

I am waiting for a response from Binance officials.

Binance

Dear user, If your expectation is insider information, this is an international crime, and Binance has gained trust because such a situation has not occurred on its exchange. If your expectation is to inform asset owners before a general announcement, this is also a crime. If your expectation is to receive a notification at the same time as the announcement, there will be no change in price movement because those selling this product are already holders like you. To avoid such situations in the future, you may want to use a stop loss order to convert your assets into a different product if they fall below a certain threshold. We are ready to assist you. Binance Team

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Binance MOB Coin Crash - Lost Everything Due to Delayed Delisting Notification!

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