On September 1, 2018, an official announcement was made by Bitcoin Gold (BTG) that, the cryptocurrency is set to be delisted from Seattle-based crypto exchange Bittrex. This comes because of a refusal to pay 12,372 BTG to Bittrex for remaining listed on the exchange.
Bitcoin Gold explained the reason behind why Bittrex chose to delist the cryptocurrency through a tweet posted on their official Twitter account. The firm disclosed that its decision to refuse the payment of 12,372 BTG, approximately $262,907, provoked the exchange platform to discard the pairings of BTC-BTG, ETH-BTG, and USDT-BTG, with effect from September 14, 2018.
Our community asked us to comment on Bittrex's action regarding BTG. You can read our full response here: https://t.co/UZWaIFRwHb— Bitcoin Gold [BTG] (@bitcoingold) September 3, 2018
Moreover, bitcoin gold also remarked that being delisted from Bittrex won’t affect the BTG ecosystem “substantially.”
The company expressed that lately, Bittrex has not been the top liquidity provider as compared with the major crypto exchanges like Binance, Bitfinex, and Bithumb, among others.
The background behind this is, Bittrex faced a malicious double-spend attack back in May 2018 by NiceHash using the 51 percent hack process. The attack is said to be the greatest ever BTG double-spend attacks that put Bittrex under intense distress and investigation.
As a result, Bittrex requested bitcoin gold team to pay a sum of 12,372 BTG to compensate for the attack happened. Bittrex even lowered the amount to 6,000 BTG, but bitcoin gold team declined to pay the sum, saying that the attack had nothing to do with their blockchain or code. The team clarified that it’s not their responsibility for any rupture of security inside the exchange.
The BTG team also added that the amount of 6000 BTG probably won’t make any difference to the profitable exchange, however, it’s quite a significant amount for a non-profit organization as it would mean liquidating the said amount from their revenue fund.
Currently, at the press time, bitcoin gold is trading at $21.61 per token, with an aggregate market top of around $365 million.
Let’s see what Bittrex have to say in reaction to BTG’s official post.
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