Connect with us


Binance plans to delists Centra [CTR] token after SEC charges Centra founders with $32 million scam




Binance kicks out Centra
Source: Wikimedia

The two founders of Centra, Sham Sharma and Robert Farkas was charged and then arrested for fraud related to their ICO in which they raised $32 million and claimed partnerships with Visa and Mastercard.

Following the arrest and accusation, Binance has decided to delist Centra token and announced it with a letter to their users which read,

“Fellow Binancians,

After proactively reaching out to the Centra Tech team to address our concerns and conducting thorough reviews of our findings, we have decided to delist the CTR token and the CTR/BTC , CTR/ETH trading pairs from the Binance exchange.

We will delist the CTR token on 2018/04/08 at 05:00 (UTC).  Withdrawals of CTR tokens from Binance will continue to be supported until 05:00 (UTC) on 2018/05/05.”

Despite the news, according to coinmarketcap it has gained 136%

Centra gains 136% in the past 24 hours

Centra gains 136% in the past 24 hours

According to Price.Ambcrypto, Centra has gained a whopping 150% in the past 24 hours

Centra with a 150% gain

Centra with a 150% gain

Many from the community claim that the current pump in prices was due to an “allegedly” false image claiming Centra was refunding all its customers.

Khushru Battiwala, Head of Sales at Reports agency from Pune says,

“I feel sorry for the suckers who paid for Centra tokens on the top. RIP homies. Such bad decisions people make sometimes”

An angry Mdsr Dshr, a Twitterati replies to the Binance notice and says,

“why CTR still trading on binance? Why trade was not halted immediately after the arrest of CEO! Why it was allowed to pump? Who is gonna refund those innocent ppl, who ar[e] still buying unknowingly!”

According to the SEC and people from the crypto community, a “partnership” with Visa and Mastercard to have a card where you could spend in crypto (Centra tokens) in stores was the main catch of the ICO which led many people to invest in it.

Subscribe to AMBCrypto’s Newsletter

Follow us on Telegram | Twitter | Facebook

Andrea Pierre Jackson is a contributing News writer at AMBCrypto from December 2017. She has previous writing experience with major publishing houses in the UK and the US. Andrea currently does not hold any position in any cryptocurrency or its projects

Continue Reading
1 Comment

1 Comment

  1. Avatar


    April 5, 2018 at 6:59 PM

    Because the arrests had nothing to do w/ the product in it’s current and future state. It had everything to do with how the ICO was handled.

Leave a Reply

Your email address will not be published. Required fields are marked *


ABN AMRO backs out of crypto-race; ditches Bitcoin wallet project

Arijit Sarkar



Dutch Bank ABN AMRO backs out from crypto race
Credit: Pixabay

Cryptocurrencies have gained tremendous traction and adoption in mainstream culture, with non-financial companies joining the digital race recently. While companies such as Nike and Microsoft have amped up their crypto-investments, some other major financial institutions are moving away from the underlying technology. In fact, an executive of the Bank of America recently stated that BoA did not see any immediate use-cases for the technology.

In a similar development, ABN AMRO, a multinational banking institution based in The Netherlands, has canceled its plans to launch its own crypto wallet. The information was brought to light by a Twitter user, @CoinNessCom. The tweet read,

“Dutch Bank ABN AMRO Ditches Its Bitcoin Wallet”

While ABN AMRO was previously reported to be testing a cryptocurrency wallet named  ‘Wallie,’ the latest news suggested that the bank was still apprehensive about offering its customers access to virtual currencies. This was confirmed by Jarco de Swart, ABN AMRO’s Senior Press Officer, in an email that stated that the bank had “decided not to follow up on the Wallie inquiry”.

Although several experts speculate that the bank might reintroduce cryptocurrency in the near future, ABN AMRO’s official website clearly mentioned that “at ABN AMRO you cannot invest in bitcoins or other cryptocurrencies” and “ABN AMRO does not support or approve cryptocurrencies”.

Subscribe to AMBCrypto’s Newsletter

Continue Reading