BitOasis Exchange Removes Privacy Coins Zcash (ZEC) and Monero (XMR) Without Notice to Users


The cryptocurrency industry is still a very young industry which is constantly going through changes in terms of infrastructure, services, and global adoption. This growth has encouraged nations like the United Arab Emirates to jump on the cryptocurrency bandwagon, by recently deliberating on the launching of a cryptocurrency trading and asset management platform on Dubai based exchange, BitOasis.

In Principle Approval And Listed Assets

On Monday, 13th of May 2019, BitOasis received an IPA (In-Principle Approval) from the FSRA (Financial Services Regulatory Authority). In 2018, the following digital assets were listed on the platform for trading :

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Zcash (ZEC)
  • Litecoin (LTC)
  • Ethereum Classic (ETC)
  • Ripple (XRP)
  • Monero (XMR)
  • Stellar Lumens (XLM)

Zcash And Monero

However, reports state that BitOasis has delisted both Zcash (ZEC) and Monero (XMR) from the trading platform.

This caused a stir on Twitter with many users saying that the assets were removed long before BitOasis made an official announcement.

@mohabbadi11 tweeted to the exchange, saying :

“@bitoasis Suddenly you decided to stop trading with XMR and ZEC!!!what about informing people in advance?!”

Bitoasis Users Still Unsatisfied

The exchange, after apologizing, Informed the user that more information on the Zcash and Monero pairs would be announced soon. However, BitOasis was not forthcoming with any news or updates.

The exchange stated on Twitter that on the 19th of May update will be released via email, though some images of the said email have surfaced, it's authenticity is still in question.

The user after the email tweeted :

“@bitoasis its not possible to reply to your email about delisting ZEC and XMR.

What is the right way to get my money back?”

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