Bitcoin Exchange Binance Reveals Plan to Swap Previously Deleted Altcoins for USDC
In a major development, Binance, a leading global cryptocurrency exchange, has announced its decision to convert delisted tokens into USDC for users still holding these coins in their Binance wallets.
Conversion of Delisted Tokens into USDC by April 2025
The conversion procedure will kick off once a snapshot of users’ assets is taken at 03:00 on October 29, 2024, and is expected to conclude by April 28, 2025.
Affected Tokens and Withdrawal Deadline
The tokens that will be affected by this initiative include:
- Vai (VAI)
- Tornado Cash (TORN)
- OMG Network (OMG)
- Waves (WAVES)
- HUMIDITY (XEM)
- BarnBridge (BOND)
- Dock (DOCK)
- MDEX (MDX)
- PolkaStarter (POLS)
- Pundi X PURSE (PURSE)
Binance users who possess any of these tokens are required to withdraw them by 02:59 on October 28, 2024. Following this deadline, withdrawals will no longer be accommodated, and the affected tokens cannot be transferred to external wallets.
The conversion to USDC will be based on the average exchange rate of each token during the “Conversion Period,” from 03:00 on October 29, 2024, to 02:59 on April 28, 2025. Once the conversion process is finalized, users will receive an equivalent amount of USDC in their Binance wallets.
Important Reminders
- Deposits of the affected tokens will no longer be supported.
- Withdrawals will be permitted until 02:59 on October 28, 2024, subject to network conditions.
- Users will be unable to view these tokens in their wallets until the conversion is completed after the snapshot on October 29, 2024.
*Please note that this information should not be considered as investment advice.