Hello Flitpay FAM,
In the light of recent developments concerning Safemoon, Flitpay has decided to delist the SFM/INR pair, which is available to trade in Quick Buy/Sell. This decision is made with your security and trust in mind, ensuring a transparent and reliable experience in our services.
Why is Flitpay Delisting Safemoon (SFM)?
The decision to delist Safemoon is prompted after the crypto firm Safemoon filed Chapter 7 Bankruptcy last week, and U.S. officials arrested Safemoon's executives on money laundering and fraud conspiracy charges. The company is also confronted with a legal action by the Securities and Exchange Commission (SEC), accusing it of fraud and violations of securities laws.
The occurrences have sparked substantial concern about the investors' funds and safety, encouraging Flitpay to delist Safemoon (SFM) on 31 Jan 2024, 15:00 IST.
Please Note:
Post-delisting users will not be able to Sell, Trade, or Invest in SFM on the platform. However, the Buying of SFM on Flitpay has already ceased from 20 dec 2023. Please take the necessary action with your safemoon funds on or before the aforementioned date.
What should I do If I have SFM holdings on Flitpay?
As a preventative measure to weather this storm, Flitpay advises you to sell off all your Safemoon (SFM) holdings on Flitpay on or before 31 Jan 2024, 15:00 IST
Update as of 29 July, 2024
Despite prior notification, Flitpay observed that many users did not take the necessary action regarding their SFM holdings on the platform. To safeguard the monetary value of the unsold assets, Flitpay has converted users' Safemoon holdings into INR at a rate of 0.0026 INR per SFM. The converted INR amounts has been autonomously credited to the respective Flitpay wallets of users with Safemoon holdings.
Disclaimer: While we strive to provide you with utmost security and transparency. It is crucial for investors to regularly verify assets they intend to trade and invest in. We encourage users to stay informed and make decisions based on profound understanding of the assets involved. It is important to note that Flitpay does not bear any liability on users' losses and does not guarantee any returns.
Your understanding and diligence in this matter are greatly appreciated.
Happy Trading and Investing
Team Flitpay