Bitcoin Gold To Be Delisted On Bittrex, Will Not Pay Back Stolen Coins

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Bitcoin Gold To Be Delisted On Bittrex, Will Not Pay Back Stolen Coins

By Ryan Warner
September 4th, 2018

Recently Bitcoin Gold experienced a double spend attack on the chain and Bittrex requested BTG to pay back 12,372 in BTG as a result of the attack within the exchange. Bitcoin Gold has declined the request and as a result will be delisted from Bittrex on September 14.

All of the Bitcoin Gold pairs are set to be delisted on Bittrex. Bitcoin Gold had this to say in an official statement on their website:

“We regret to inform our community that the crypto exchange Bittrex has decided to de-list BTG after we declined to pay them 12,372 BTG to remain listed.”

The 51% attack on Bitcoin Gold happened on May 19 and allowed 388,000 Bitgoin Gold tokens to be stolen from the Bittrex exchange.

Bitcoin Gold has stated that they have not made payments to Bittrex as they have no revenue streams. Bitcoin Gold rewards go to miners and roughly half of their endowment fund is time locked.

BTG had this to say in their final statement:

“We feel it’s clear that we took every reasonable step to try to help ensure Bittrex’s safety against this threat. All our exchange partners can rest assured we will continue to work to assist them whenever possible, and that we will continue to work towards improvements which will increase safety in the crypto space.”

The delisting of Bitcoin Gold from Bittrex is not expected to affect the ecosystem significantly as Bittrex is not the highest liquidity provider for the token.