Announcements Gate.io Does Not Support PolkaCipher (CPHR) Token Migration and Will Delist the Trading Market

Gate.io Does Not Support PolkaCipher (CPHR) Token Migration and Will Delist the Trading Market

2023-05-18 09:40:10 UTC 28236 Read

[//]:content-type-MARKDOWN-DONOT-DELETE
As the PolkaCipher (CPHR) project was hacked, the team decided to migrate the PolkaCipher (CPHR) token to a new smart contract. Gate.io has always been committed to providing the best possible services to its users. We hope to offer a convenient and straightforward token swap service to all users. However, despite multiple attempts, Gate.io has been unable to receive a response from the project team. We therefore regret to inform our users that we are unable to provide the token migration service this time and will delist the PolkaCipher (CPHR) trading market, including spot trading, quantitative trading, and liquidity mining, effective from May 19, 2023, 10:00 a.m. UTC. After the delisting, Gate.io will enable CPHR withdrawals and provide the service for 14 days. Users are advised to withdraw their funds to their personal wallets as soon as possible. We apologize for being unable to provide a convenient and straightforward migration service to all users.

**The following is a summary of the events:**
On May 31, 2022, we noticed that the project team had posted a tweet about token migration on their official Twitter account. For details, please refer to the official tweet: https://twitter.com/polkacipher/status/1531441213974319104
Subsequently, we attempted to contact the project team to obtain more details regarding the token migration but received no response. We have been continuously follow up on the matter during this period but remained unanswered.

In November 2022, we managed to contact one of the former employees responsible for the project and was told that the project's key person in charge had dismissed several other core team members and expelled them from all groups. As a result, it has become impossible to reach the primary responsible person. We had also attempted to reach out to the project team through all their social media channels publicly available, but received no response.

**Details about the delisting:**
1) Gate.io has closed the deposit service for PolkaCipher (CPHR).

2) Gate.io will delist the quantitative trading market of PolkaCipher (CPHR) on May 19, 2023, 10:00, a.m. UTC.

3) Users who have provided liquidity for PolkaCipher (CPHR) in the liquidity mining market should withdraw the liquidity in advance. Otherwise the liquidity will be automatically redeemed by May 19, 2023, 10:00, a.m. UTC.

4) After the delisting of the PolkaCipher (CPHR) trading market, Gate.io will continue to support withdrawals for PolkaCipher (CPHR) for a period of 14 days. Users who wish to continue holding the token are advised to withdraw their tokens to their personal wallets as soon as possible.

5) Users who still hold CPHR in their Gate.io accounts after June 2, 2023 will be compensated at a price of $0.0012 per CPHR (over two times the delisting price: $0.00049/CPHR). The maximum compensation amount per individual is 5,000 USDT.
Users can fill out the following form to submit their compensation claims within one week after June 2, 2023.

**Link to the form:**https://www.gate.io/questionnaire/3283

**Please note that Gate.io no longer supports the CPHR deposit and trading.**

Withdraw PolkaCipher (CPHR): https://www.gate.io/myaccount/withdraw/CPHR

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Gate.io Team
May 18,2023

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Gate.io Does Not Support PolkaCipher (CPHR) Token Migration and Will Delist the Trading Market

Gate.io Does Not Support PolkaCipher (CPHR) Token Migration and Will Delist the Trading Market

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