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The Defiant 2024-12-04 12:17:18

Gifto Mints and Dumps $8.6 Million Worth of Tokens After Binance Delisting

Gifto Mints and Dumps $8.6 Million Worth of Tokens After Binance Delisting

Gifto, a blockchain-based gifting platform, has come under severe scrutiny on social media following its move to mint and dump 1.2 billion GFT tokens, worth approximately $8.6 million, after Binance announced that it would delist the token. On November 29th, Binance announced that it had suspended GFT token deposits on the platform and would delist it entirely by December 3rd, citing potential security issues with the GFT smart contract. “To protect users, deposits for Gifto (GFT) were suspended on 2024-11-29 due to a potential security issue involving the GFT smart contract. Binance may reopen deposits for GFT if it is deemed to be safe, but no separate announcement will be issued,” Binance said. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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