Concerns Over $GFT ’s Additional Issuance Before Delisting
$GFT ’s decision to issue 1.2 billion tokens shortly before its delisting has raised serious concerns about ethical practices in the cryptocurrency industry. This action, which appears to have targeted retail investors for profit, highlights a troubling pattern of exploitation. For projects engaging in such behavior, immediate delisting may be a more appropriate response rather than waiting for the scheduled delisting date, as it could deter other projects from adopting similar tactics.
Industry-Wide Implications
Allowing projects to manipulate their tokenomics shortly before delisting sets a dangerous precedent. If such actions are not addressed promptly, they could undermine trust and stability within the cryptocurrency ecosystem.
Recommendations for Exchanges
To prevent such incidents, exchanges should consider implementing stricter measures, including:
1. Immediate Delisting for Fraudulent Behavior
Projects engaging in sudden, large-scale token issuance should be delisted immediately to protect investors.
2. Freezing Project Accounts
Restricting the project’s ability to deposit or withdraw funds on the exchange can serve as a deterrent to fraudulent behavior.
3. Enhanced Oversight of Project Margins
Collateral or margins provided by projects should be leveraged to hold them accountable for actions that harm investors.
Industry Sentiment
Although I do not hold any GFT tokens, this situation reflects poorly on the broader cryptocurrency industry. Actions like these not only harm retail investors but also damage the credibility of the sector as a whole. Addressing such fraudulent behavior promptly and decisively is essential to uphold the integrity of the market.
The following on-chain data confirms that the additional issuance began 10 hours ago and may still be ongoing. This underscores the urgency for immediate corrective action to protect the interests of all participants in the crypto ecosystem.