Hello. This is CRIPCO Team.
First of all, we would like to express our condolences to the cryptocurrency community and IP3 token holders who have suffered losses due to recent FTX crisis.
CRIPCO Team is committed to finding ways to minimize the impact of the FTX crisis, including the loss of IP3 token holders on the FTX exchange.
As of solution that CRIPCO team considered first, compensation through screenshots and CSV was considered. However in reality, fraud such as manipulation may intervene and cause even more victim with good intentions. We also decided not to adopt this method because some users may have difficulty securing evidence by deleting the app due to a hacking incident.
In the end, receiving FTX’s cooperation would be the optimal solution for now. CRIPCO Team is considering direct withdrawal or Treasury compensation.
- First, CRIPCO Team has currently reached out to FTX officials regarding the direct withdrawal.
- Once contacted by FTX, and as soon as we receive their cooperation, we will proceed with the necessary procedures for compensation.
However, as you are well aware, FTX is currently in the process of liquidation and we need to consider various legalities in this regard, so please understand that this process may take time.
Meanwhile, in order to minimize the incidental damage to IP3 token holders caused by the lengthy review period for legal procedures, we are considering a Treasury compensation method through cooperation with FTX as another method.
- CRIPCO team has allocated a Treasury within CRIPCO Foundation in case such a situation arises.
- This compensation process requires active cooperation from FTX, such as sharing the list of IP3 token holders from the FTX exchange.
IP3 token holders in the FTX exchange will submit the address to be rewarded after going through the minimum necessary procedures such as identity verification. Once completed, holders will be rewarded with the same amount of IP3 tokens as they initially had.
In addition to these procedures, the CRIPCO Team continues to monitor the situation and seek out to find the most appropriate actions to minimize damage to IP3 token holders.
Additional notices will be updated in the future, so please pay attention to the official community channels such as Discord, Twitter, and Medium.
# Please note that all of these are currently under consideration and are not final conclusions, and may vary depending on the relevant laws and circumstances.
