Thank you for always using CROSS exchange.
Last month (March 2020), the Securities and Exchange Commission (SEC) ruled the Telegram GRAM token issuance as injunctive.
There is a possibility of a trial appeal, but at present the situation is unclear so we have decided to provide XGRAM token holders a reimbursement.
The sale of XGRAM tokens on CROSS exchange were sold under the condition where only XEX could be used for purchase. Currently, the price of XEX is significantly different from the time of sale.
After deliberation with the team, we have decided not to return user funds with XEX, but
at a rate of 1 XGRAM ＝ 1.70 USDT.
Example: 1,000 XGRAM held = 1,700 USDT reimbursed
Regarding this rate, we also considered a reimbursement rate at the time of purchase, but there are various cases such as where users who have already sold off their XGRAM and users who have newly purchased the token, making it difficult to track and calculate a rate. As such, we have decided to provide an approximate average of the total purchase price for the reimbursement rate.
As stated above, we will inform you when we suspend trading of XGRAM as follows:
【Trade Suspension Schedule】
4/9/2020 4:00 (UTC)
XGRAM reimbursements are available to customers who have XGRAM at the above time.
Anyone who has participated in the Telegram IEO but has already sold XGRAM is not eligible for a reimbursement.
※Orders already placed by users will be cancelled.
※We will refund USDT to your wallet within 10 days of the suspension.
We apologize for the long wait and appreciate your understanding.
Thank you for your continued support.