Crypto.com Exchange Suspends KITE Deposits/Withdrawals for Swap
Crypto.com Exchange temporarily halts KITE deposits and withdrawals on Ethereum for a 1:1 contract swap; trading continues.
Source-checked briefing: prepared from the official notice cited below and checked for source, date, duplication, and risk language. No individual editor review is claimed. Methodology
Crypto.com Exchange announced support for the Kite (KITE) contract swap. Deposits and withdrawals of KITE on the Ethereum network are temporarily suspended, while trading remains unaffected. The swap will occur at a 1:1 ratio to a new ERC20 contract at a later date. The exchange warns that deposits made during suspension may incur retrieval fees and may not be recoverable. A separate announcement will confirm when deposits and withdrawals resume. No action is required from users at this time.
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Crypto.com Exchange is supporting a KITE contract swap.
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Deposits and withdrawals of KITE on Ethereum are temporarily suspended.
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Trading of KITE is not affected by the suspension.
Key timeline
Announcement published; deposits and withdrawals suspended.
KITE tokens swapped to new ERC20 contract at 1:1 ratio.
Deposits and withdrawals resume on Ethereum network.
Who may be affected
- Users holding KITE on Crypto.com Exchange.
- Users attempting to deposit KITE via Ethereum network during suspension.
- Users attempting to withdraw KITE via Ethereum network during suspension.
Impact analysis
The suspension directly affects users who wish to deposit or withdraw KITE on the Ethereum network through Crypto.com Exchange. Such transactions are temporarily unavailable. Trading remains operational, so users can still buy, sell, or trade KITE on the exchange. The 1:1 swap means token balances will be converted to the new contract at the same ratio, but the exact timing is not specified. Users who deposit KITE during the suspension may face retrieval fees and potential loss of funds, as retrieval may not be possible. This operational change is limited to KITE on Ethereum; other networks or tokens are not mentioned.
What the announcement does not say
The announcement does not specify the exact date of the swap or when deposits and withdrawals will resume. It also does not detail the retrieval fee amount or the conditions under which retrieval may be impossible. The new contract address is not provided.
Risk notes
- Depositing KITE during the suspension may incur retrieval fees and may not be recoverable.
- The swap date is not specified; users may face uncertainty about when the new tokens will be available.
- The announcement does not address any security or technical risks associated with the swap.
- This article is for informational purposes only and does not constitute investment or trading advice.
This article is for information only and is not investment, legal, or tax advice. Digital assets are volatile and may result in loss of principal.
Frequently asked questions
Will my KITE tokens be swapped automatically?
The announcement states that KITE tokens will be swapped to the new ERC20 contract at a 1:1 ratio at a later date, but it does not specify whether the swap is automatic or requires user action.
Can I still trade KITE during the suspension?
Yes, the announcement explicitly states that trading of KITE will not be affected.
What happens if I deposit KITE during the suspension?
You may incur a retrieval fee, and fund retrieval may not be possible in some cases. The announcement advises against making such deposits.
Official sources
Collected material is used only for fact checking. If this page differs from the original announcement, the official page controls.