Hello, we're XENT.
The foundation continues to freeze hacker account assets in the MEXC Exchange, which was affected by the cooperation of investigative agencies and CEX, and is working to recover them.
but, due to the nature of the hacking case, we believe that users will continue to worry about the end of the case and the timing of the recovery.
Therefore, the foundation intends to create and execute a token buyback fund to protect investors and enhance user rights more preemptively and actively without passing on responsibility to users with a passive attitude.
The hacker assets currently identified are estimated to be less than $300,000 and are equivalent to about 400 million won in Korean currency.
Accordingly, the foundation intends to create and execute a corresponding fund regardless of the return of hacker assets, and the foundation will take full responsibility for whether or not to redeem it in the future.
[Detailed information on XENT token buyback plan]
Purpose: To enhance investor value and project trust through preemptive response through the execution of the foundation's buyback fund
Total amount of funds: KRW 400,000,000
Period: June 15, 2024 to June 30, 2024
Method:
(1) Deposit the entire Buyback Fund within the designated account (the representative account of the foundation in the exchange) by June 14, 2024
(2) All funds are exhausted through market price purchases during the period.
(3) transfer to 0x00..dead address after external withdrawal of buyback token on July 1, 2024 all incineration (excluded from distribution)
* This token buyback is separate from the purchase of the foundation's representative token.
*All tokens in the Team wallet have been unlocked, but through discussions with team members, we have set an additional lock-up period until July 1, 2024, after the end of the buy-back period, so that it does not infringe on the rights and interests of users.
* Please wait a little while for payment of token compensation due to user rewards and suspension of exchange platform, etc., to be resumed after June 7, 2024, taking into price equity.
From the user's point of view, we will do our best to show the responsibility of acting in the form of a project that puts user rights and interests first.
Thank you.