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Update on the SWAP from December 24, 2020:
Deposits from external wallets and swap of old CRPT made after December 23, 2020, 00:00 UTC are subject to manual approval which usually takes 1 to 5 working days. Crypterium will not compensate the fee cost for deposits of old CRPT tokens made after December 23, 2020, 00:00 UTC.
To make SWAP after 23 December and onwards you need to transfer old CRPT tokens to Crypterium Mob App.
Those, who made deposits before 23th of December will get compensation within 5 working days.
Update on the SWAP from November 23, 2020:
We are pleased to announce that the CRPT SWAP period has been extended till the 23rd of December. The purpose of the extension is that not all users have transferred their old-CRPT to the Crypterium app for SWAP to take place.
We have started distributing ETH compensation for old-CRPT transfers to the Crypterium Wallet until the end of the extension period on Wednesday, December 23rd.
In the light of the recent security breach on KuCoin Exchange — one of the cryptocurrency exchanges supporting CRPT tokens — Crypterium conducts a 1:1 CRPT swap to a new smart contract to enhance your security and prevent hackers from utilizing the stolen funds.
This swap is a result of a coordinated effort with the KuCoin Exchange team to isolate the parties responsible for the regrettable security attack of September 26, 2020. According to KuCoin, a total amount of 10 million CRPT tokens were affected by this hack.
While this security incident was beyond our control, we take the security of CRPT holders very seriously. This swap reflects our commitment to protecting all CRPT holders worldwide.
Typically, token swaps are associated with switching between different blockchains. A clear example of such an event was the 2019 CRPT swap from the ERC-20 to BEP-2 protocol — an initiative to allow CRPT holders to trade on Binance DEX.
In this case, the CRPT token swap isn’t meant to move tokens from one blockchain to another, but rather replace the underlying smart contract on the current Ethereum blockchain.
This technical maneuver will apply only to the tokens not affected by the hack. In other words, this swap will alienate the stolen tokens, giving hackers no options to move the funds around since CRPT tokens issued under the original smart contract will no longer be supported.
Since the Ethereum blockchain fee is higher than usual these days, Crypterium will compensate the fee cost for the deposit of old CRPT token. The fee amount will be returned to your ETH balance during 5 working days after the end date of SWAP, which is November 23, 2020, 00:00 UTC.
Original smart contract: 0x80a7e048f37a50500351c204cb407766fa3bae7f
New smart contract: 0x08389495D7456E1951ddF7c3a1314A4bfb646d8B
We are thankful for your support and understanding on this matter. If you have any doubts, don’t hesitate to write to us at firstname.lastname@example.org or reach out via in-app chat.
You can access the latest updates on the KuCoin security incident here.