Maps.me and Oxygen report blocking over 95% of tokens on FTX

According to the projects’ representatives, the exchange stored most of their tokens before its bankruptcy

16.11.2022 - 09:15

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1 min

The MAPS.ME and Oxygen teams are shocked by events relating to FTX Group’s bankruptcy proceedings.

Whilst FTX Group did not hold any equity [in the MAPS.ME or Oxygen businesses], it did hold a significant proportion of MAPS/Oxy tokens. It also acted as custodian for over 95% of the overall supply of our ecosystem tokens — both locked and unlocked.

At this stage, like everyone else, unfortunately we have to rely entirely on information that is publicly available.

We are considering all options on how to protect the MAPS & Oxy ecosystems and have retained legal advisors to assist with this ongoing process.

This is a dynamic situation that impacts the entire crypto ecosystem. We will communicate next steps as soon as we have a meaningful update.

This material is taken from the website oxygenprotocol.medium.com.

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