Upbit announces that the investment risk warning period for PlayDapp (PLA) has been extended to March 11

According to the official announcement, Upbit announced that the risk warning period for PlayDapp (PLA) investment (including KRW and BTC trading pairs) has been extended to March 11, 2024. This decision was made jointly by members of the Digital Asset Exchange Association Agreement Agency (DAXA) and aims to strengthen investor protection. According to previous news on February 20, PlayDapp stated that due to a smart contract attack, 1.79 billion invalidly minted PLA tokens were issued, so it plans to launch new PDA tokens to replace it. The team plans to take the snapshot at 16:00 on February 26, Beijing time, and advises users not to transfer PLA tokens to/from their wallets or any trading platform before the migration process is completed. This is to ensure the migration progress and effective tracking. Invalid minted token. PlayDapp will cooperate with some coordinated CEX to migrate from PLA to PDA, compensate PDA to users holding PLA, it will use the balance held by current users to compensate affected users according to the snapshot time, and will compensate affected users at 1 according to the snapshot time :1 ratio of receiving all token holdings, users holding PLA tokens on these CEXs do not need to take any action. For PLA holders whose wallets are not on these CEX: PlayDapp has prepared a migration portal for PLA holders, which these users will be invited to access later. PlayDapp will ensure that holders undergo KYC to comply with AML regulations. The claim period through the migration portal is one year, plus one year of customer support, for a total of 2 years.