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Altcoins

Aurora IDEX Delists $CMCT Due to Major Price Fluctuations

The cryptocurrency exchange platform, Aurora has recently gotten a lot of heat, after de-listing CMCT on its exchange platform. However, Aurora has not been the only one to do so. The reasons as to why the trade of Crowd Machines token was eliminated have not been revealed officially, but the community has had a lot to say about the surfacing dilemma. According to the latest tweet, Aurora revealed that its community has been reporting suspicious activity which led to them halting CMCTs trade in its entirety.

$CMCT has been de-listed as we investigate suspicious activity reported by the community.

Looking at the price analysis of CMCT, it is evident that the token has been showing some abnormal behavior. The token price took a huge dip yesterday, and many have attributed this decline to be a result of hacking. Approximately 65% of their tokens have been hacked and dumped to get a profit of only $30,000.

Source : https://coinlib.io/

CMTC has released 500 million of its tokens with 1.5 billion still in its reserves. The ICO price of the token was only 0.1 dollar. Its price took a major fall from $0.0130 to $0.00213900 in a matter of minutes. Many of the investors have voiced their concerns and are growing restless as the crisis prevails. Some of these individuals took to blaming the exchanges providing trading option for these coins and not conducting a thorough analysis of a coin before listing it. All this led to Aurora as well as Bittrex disabling the trade for the time being. None of these high profile platforms wish to be associated with a cryptocurrency that is as unstable as CMTC is.

All through this, Crowd machine has remained dormant and made no comments about the apparent situation. They have offered no solution or proposed a way to reimburse the investors who have suffered losses. Even though many believe that, the prices will ascend back to normal, but if they cannot remedy the situation the company should at least offer insight as to what caused the major fluctuation.

Hassaan Malik

Co-founder of BlockPublisher, Hassaan is a technologist at heart with a keen interest in blockchain, cryptos and traditional financial markets. Email: hassaan@blockpublisher.com, hassaanmalek@gmail.com

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