Cryptocurrency exchange Coinbase released a statement today that caught attention. The statement is about a specific cryptocurrency. According to it, trading will not be reactivated. Let’s look at the details of this development together.
Coinbase Issues Statement on PlayDapp (PLA)
The exchange stated the following in its announcement:
“We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our latest review, we will not be re-enabling trading for PlayDapp (PLA).
In light of the ongoing ‘Pause’ function in the PlayDapp (PLA) smart contract, PLA trading and transfers remain suspended on coinbase.com, Coinbase Prime, Advanced Trade, and Coinbase Exchange.
We are aware that the issuer has made an announcement about an upcoming transition. Please remember that our teams are actively evaluating the upcoming transition and will provide necessary updates directly to our users.”
What Is the Development About?
This development is related to a security breach in the PlayDapp project. Coinbase had previously made a statement and suspended trading of the token. Now, there is curiosity about what Coinbase will do after the token migration. However, it can be expected that Coinbase will make a new announcement after the project team completes their preparations.
The project was hacked last month, resulting in the theft of 200 million tokens.
