To extensive PTT supporters and all PTT community members:
Since CoinTiger Exchange broke the news that the currency of PTT was stolen last Saturday (August 17), PTT Project Team has been actively coordinating with CoinTiger based on the friendly attitude of smooth handling and win-win situation to put forward the solution most beneficial to the majority of users. Unfortunately, CoinTiger did not show a positive and responsible attitude; instead, it unilaterally issued a notice requiring the project side to replace the Token. Thus, it can only divert the public's attention for a short time, but cannot solve the essential problem; meanwhile, it will also cause great operational inconvenience and loss to all the users, which is really unacceptable to the project side and the community.
Recently, the PTT Team and extensive users found that CoinTiger Exchange had closed the PTT currency withdrawal channel without authorization (but currency recharge channel is still opened), and what is more, it had directly frozen market maker account transaction function of the project side. In this case, the project side was unable to maintain the currency price properly and stopped the communication with the project side of PTT.
As things stand, we feel sorry to release a comprehensive risk warning announcement to CoinTiger Exchange [As CoinTiger has frozen market maker account transaction authority of PTT, the team is no longer able to maintain a reasonable price for CoinTiger]. Therefore, we strongly remind PTT holders and supporters: any PTT-related recharge and transaction in the CoinTiger Exchange carry great risks.
Due to the disturbance, PTT price in the CoinTiger Exchange has severely decoupled from the market. We call on CoinTiger to suspend all PTT transaction pairs immediately, be able to face up to its responsibilities and obligations, maintain normal communication with users and come up with practical solution. PTT Team still adopts a friendly attitude, hoping to maintain communication and find better solutions together.
At the same time, project side of PTT will also make planned and unplanned repurchases in LBank, MXC, and BCEX exchanges etc. to maintain market price and protect investors' interests.
August 21, 2019