MaxiMine (MXM) Will Compensate HitBTC Users Who Lost Tokens
It seems that MaxiMine, an ETH-based cloud company is ready to right the wrongs of others which may have caused financial losses to its community. Many HitBTC users were worried recently as they were unable to withdraw their MXM tokens from the exchange, which is based in Hong Kong.
HitBTC decided not to accept the tokens anymore and delisted them. Most users were not quick enough to withdraw their tokens before they were delisted, so they incurred losses because of the event. Now, MaxiMine will give them their money back.
The company has affirmed that it is ready to take “full responsibility” for the losses and that they will refund the users after receiving the tokens back from HitBTC. The company communicated with the exchange and the MXM team decided to help the users affected by the token swap event.
According to MaxiMine, the problem is because HitBTC do not want to participate in the token swap, so it is shutting down and sending the tokens back to the company. Users have been making contact over emails with the company and they convinced it to fix the situation.
MaxiMine has been suffering in the last few weeks, as it has lost around 5 to 6% of its price. This is bad for people wanting to cash out because they will incur losses until the prices go up again. MaxiMine affirmed that a few hundred users were affected by the event. At the moment, the exchange which sees the highest volumes for the token is CoinBene.
HitBTC To Blame For The Event
Basically, while MaxiMine decided to take the fall and help its community, the main guilty party is actually HitBTC. The company has chosen not to adopt the new smart contract for the token swap on its own.
HitBTC has a growing reputation of not really caring for the communities it affects, since the exchange decides what to do on the fly and then does it, which can harm its legitimacy as a major crypto exchange.
The company has been affected by many problems lately and it is surely not creating a great image for itself lately with all these problems involving small but important communities of traders.