ARRR to be delisted from CryptoBridge

In a statement released on 7th September 2019, CryptoBridge released a notice the PirateChain (ARRR) would be delisted from the exchange due to “inferior bookkeeping capabilities and slow wallet”

This comes after a recent problem with ARRR on CryptoBridge which allowed exchange users to drain ARRR wallets by withdrawing more than they had deposited leaving a deficit in CryptoBridges wallet.

A post in the PirateChain discord suggested this was CryptoBeidge’s mistake:

PirateChain discord

It was Cryptobridge’s faulty record-keeping method that showed users balances as higher than they should be after partially withdrawing funds. It allowed users to take advantage of the system and withdraw more than they actually had, taking ARRR from the exchange that didnt belong to them. This also enabled clients to withdraw and dump ARRR across exchanges at whatever price they could get, leaving users with actual ARRR on cryptobridge without a way to withdraw their funds since cryptobridge may not actually have the ARRR to give.

Also suggesting that the delist was a community effort from the PirateChain team

PirateChain discord

We have set in motion as a community to delist ARRR from Crypto Bridge and put pressure on them on all fronts, to refund legitimate ARRR holders.

CryptoBridge has promised to reimburse anyone affected by the ‘bug’ in a settlement program outlined on their official website.

This parting ways brings and end to the relationship with CryptoBridge being out of pocket but promising to reimburse affected customers and the PirateChain community up in arms and blaming CryptoBridge to the drop in price of ARRR from ~2500 sats to ~300 sats – Over 90%.

Half joking? Ambroid suggested: