Cryptocurrency exchange Bybit has responded to the numerous user complaints and widespread frustration within the crypto community regarding the delays in NOTCOIN Airdrop withdrawals from the platform.
The exchange attributed the issues to incorrect memo entries from the NOTCOIN app to Bybit during the withdrawal process.
The problems began when users attempting to withdraw their NOT from the NOTCOIN app to Bybit experienced delays. The delay has sparked significant discontent among users, many of whom have voiced their frustrations on social media platforms. For instance, an X user named @badej3oluwatobi highlighted that despite having alternatives, they chose Bybit for their NOT withdrawals and felt unfairly treated due to the lack of compensation.
@AbuchiIhedioha criticised Bybit’s handling of the situation, pointing out the inability to trade $NOT coins even after receiving the tokens, implying potential issues with Bybit’s management of the airdrop.
Another user, @amosukpai36508, questioned the criteria used to compensate certain users for the delays while leaving others uncompensated. They expressed dissatisfaction and requested verification of their memo address to resolve the issue. Another user, @gwillzugaji, complained about not receiving their $30 MNT coin and the promised compensation reward, including a $50 voucher for trading futures.
$NOT is the native token of the new DeFi protocol, NOTCOIN. The token, which would be used within its platform’s ecosystem for transactions, staking, and other DeFi activities, was recently distributed to users in a highly anticipated airdrop event. However, the complications with memo entries during withdrawals have caused significant disruption, affecting users’ ability to access and utilise their tokens.
Bybit confirmed that the memo displayed to users on their platform was correct, suggesting that the errors occurred elsewhere. The exchange noted that it has communicated with the NOTCOIN team to verify and resolve the situation. It asked affected users to complete a form to fast-track the resolution process and assured the public that updates would be provided once more information was available.
(2/3) We have confirmed that the memo displayed to users on the Bybit platform was correct.
If you believe you are affected, please kindly fill in the form below
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— Bybit (@Bybit_Official) May 20, 2024
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