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One of the world’s largest cryptocurrency exchanges, Binance, has announced that it will convert delisted tokens remaining in Binance wallets into USDC for users holding these assets.
Binance to Convert Delisted Tokens to USDC by April 2025
The conversion process will begin after a snapshot of users’ assets is taken on October 29, 2024, at 01:00 AM (UK time) and will be completed by April 28, 2025. Binance has stated that users holding these delisted tokens will receive the equivalent amount in USDC once the conversion is finalized.
Affected Tokens and Withdrawal Deadline
The tokens affected by this conversion are:
- Vai (VAI)
- Tornado Cash (TORN)
- OMG Network (OMG)
- Waves (WAVES)
- NEM (XEM)
- BarnBridge (BOND)
- Dock (DOCK)
- Mdex (MDX)
- Polkastarter (POLS)
- Pundi X PURSE (PURSE)
Binance users holding any of these tokens have until October 28, 2024, 01:59 AM (UK time) to withdraw their assets. After this deadline, withdrawal services for these tokens will no longer be supported, and users will not be able to transfer the affected tokens to external wallets.
The conversion to USDC will take place during the “Conversion Period,” which runs from October 29, 2024, 01:00 AM (UK time) to April 28, 2025, 01:59 AM (UK time). The conversion will be based on the average exchange rate of each token during this period. Once completed, users will receive the equivalent value in USDC within their Binance wallets.
Important Notices
- Deposits for affected tokens are no longer supported.
- Withdrawals are available until October 28, 2024, 01:59 AM (UK time), subject to network conditions.
- After the snapshot on October 29, 2024, users will not be able to view these tokens in their wallets until the conversion is complete.
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