Hotbit Delivers on FSN Burn Program and Destroys 519,119 FSN

FUSION Foundation
Nov 22 · 2 min read

Dear Fusionites,

As shared on Nov 1, we described the steps that Hotbit would take to resolve the remaining FSN and USDT that was frozen in the thief’s Hotbit account.

Hotbit announced today that it had executed on all of the proposed actions, culminating in the burn of 519,119.851 FSN tokens.

Hotbit shared the following transaction hash as proof of the destruction of 519,119.851 FSN tokens that were sent to a known burn address.

Where did the 519,119.851 FSN tokens come from?

1. Hotbit destroyed the unsold 260,231 FSN tokens that remained in the thief’s account before it was frozen.

2. Hotbit destroyed an additional 223,702.268 FSN that it had purchased from the open market using the 78,934 USDT that remained in the thief’s account before it was frozen.

3. Hotbit also destroyed an additional 35,186.6833 FSN tokens that it had purchased off the open market in preparation for the ‘purchase FSN with a 50% discount event’. 35,186.6833 FSN tokens remained after the event and were subsequently destroyed by Hotbit.

We thank Hotbit for following through on their promise to help fairly resolve next steps with the remaining funds that were frozen in the thief’s account.

The removal of 519,119 FSN tokens from the FSN supply is a great outcome for the community!

FUSION Foundation

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