Resignations at Bybit Following Notcoin Airdrop Delay

Some Bybit executives have reportedly resigned following the delay in the Notcoin airdrop on the exchange. Notcoin is the gaming token of Telegram.

According to information shared by Wu Blockchain, which closely follows Far Eastern media, particularly Chinese media, the delay in the airdrop caused a rift within Bybit management and some executives resigned voluntarily. The departing executives also appointed new people who have technical knowledge and experience in spot markets. A company memo was also sent to employees regarding the matter.

What Happened?

As known, the May 16th airdrop of Notcoin, Telegram’s gaming token, was not carried out as planned on the Bybit exchange. More than 320,000 users were unable to receive their tokens into their accounts on time and were unable to make instant transactions when the exchange listings began. This caused a great deal of backlash among users.

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Bybit’s Response

The exchange management announced that the problem was with Notcoin and that the number of tokens they received was less than expected. Despite their attempts to resolve the issue on their own initiative, the exchange was unable to fully compensate some users with certain amounts of Notcoin.

The exchange later announced a compensation plan, offering MNT token airdrop rights, various bonuses and some VIP rights to affected customers.