What is delisting?

Delisting is the process of removing a cryptocurrency or asset from an exchange platform.

When does delisting take place?

When a project no longer meets the exchange's listing standards, it may be delisted. There can be many reasons for delisting, some of which are:

• Lack of regular trading activity;
• Absence of protocol development;
• Non-existent business-to-customer interaction;
• Proof of fraudulent or dangerous activity etc.

Where can you check that the token is being delisted?

Delisting alerts are displayed on the balances page next to the ticker of the token being delisted.

How do our users receive information about delisting of an asset?

If you have a token in your balance which is being delisted, you will receive email newsletters. The purpose of the newsletters is to keep users informed about different stages of delisting process.

Let’s follow the flow of emails chronologically to understand what they convey and what to do after receiving them:

Email newsletters sent at the start of the delisting process:

These newsletters warn users that soon the asset will be delisted and indicate the date:

• The first email is of delisting announcement 
• The second email is sent 30 days before delisting.
• The third email is sent 1 day before delisting. 

At this stage, withdrawals, deposits, and trading operations are still open for the asset. So, users receive a suggestion to plan to withdraw the soon-to-be delisted asset before withdrawal is closed.

Email newsletters sent during the penalty period:

After the asset is delisted on the announced date, it is removed from the platform and can no longer be independently withdrawn by the users. The penalty period is relevant only for the users who still have the delisted asset in their balance. The penalty period is 120 days and after each month, 25% of the funds are deducted. 

Please note: the penalty is applied in the currency of the delisted asset. Users’ other assets remain unaffected by this process.

During the penalty period, users receive the following newsletters:

• About the beginning of penalty period.
• Three consecutive letters in one moth intervals, which warn users about upcoming penalty deduction one moth prior.
• About the end of penalty period.

Please note: The penalty fee is deducted approximately 30 days after receiving each email notification. Therefore, if the user withdraws funds before those 30 days are up, the fee will not be deducted. 

After receiving the email notification that the penalty period has ended, the delisted asset can no longer be retrieved by the users. 

How to withdraw the asset during penalty period?

As mentioned above, after the asset is removed from our platform and the penalty period begins, the user no longer has the opportunity to withdraw the asset from our website or mobile application.

In order to do so, the user needs to contact our customer support service for assistance on our email address: support@whitebit.com or create a ticket here.

Our customer support team will guide users on the next steps. They will be asked to provide a wallet address for withdrawal in the appropriate network for the asset they want to withdraw.

Please note: the requested address in this specific network needs to belong to a platform or wallet different from WhiteBIT exchange. If you do not have an address in the specified network for this asset, you can find an appropriate platform for withdrawal through these sources: https://coinmarketcap.com and https://www.coingecko.com.

Support

In case of any questions related to the asset delisting process on our platform, you can:

• Leave a request on our website;
• Write to the support email: support@whitebit.com;
• Write to the chat using the button in the lower right corner of the screen (in the upper right corner of the WhiteBIT app, click ).