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

Anoushka Shrestha



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.

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Anoushka is a full-time journalist at AMBCrypto, passionate about writing with a degree in B.A. Combined Humanities. She holds no value in cryptocurrencies currently.

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1 Comment

1 Comment

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    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.

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