Binance has just revealed that the token swap from VeChain (VEN) to VeChainThor (VET) has been completed. Users are now allowed to make token deposits as well as withdrawals for VeChainThor (VET). The startup revealed this news via its Twitter handle on July 24:
#Binance Completes #VEN Mainnet Swap to #VEThttps://t.co/4D6OcjqWpV pic.twitter.com/o28W1Ml07R
Via a blog post, Binance announced that it allocated tokens to users according to a snapshot of the entire VEN balances available as at 2018/07/23 4:00 AM (UTC), on a ratio of one VEN = 100 VET. Additionally, Binance said it would be opening trading for the VET/BTC, VET/BNB, VET/ETH, and VET/USDT pairs at 2018/07/25 4:00 AM. All prior VeChain VEN balances before the token swap have been removed. The VEN trading pairs have also been delisted from Binance.
Users Claim They Lost Their Tokens During The Swap
Many users have taken to social media to express their discontent with the network claiming that all hasn’t been well since the token swap. Some argue that they lost coins from their wallets on the day of the migration.
According to one user in response to the completion of the migration:
“Hey. That’s great. I just checked my funds but couldn’t find my VEN and can’t see any VET either. Is this normal? When will my VET be visible?”
Another VEN holder said:
“My VEN isn’t in my wallet. Will I receive my VET before trading opens?”
VeChain (VET) Price Today – VET / USD
Are Things Under Control?
According to one Twitter user, things are under control, and the trouble appears to come from the technical details:
“They are there. Make sure you hide small balances. Since it isn’t yet trading, it doesn’t have any “value” and doesn’t show yet. It is there. $VET VEN VET $VEN. My balance had 3,500 $VEN I now have 350,000 $VET. Which is the same value as before? Hopefully, when trading starts, it will spike up.”