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Binance sold claims on Gopax's Genesis assets, causing Gopax to suffer losses

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2024-05-27 20:54:39
Binance, Gopax's largest shareholder, sold Gopax's claims on Genesis assets for less than half their face value. Initially, Binance promised to compensate investors for 100% of their losses (about 70 billion won at the time) when it shut down cryptocurrency deposit service Gopay last year, but instead of using the equity fund to compensate the victims, Binance paid the compensation by selling the victims' claims on assets at a discount. Binance sold Gopax's claims on Genesis assets for less than half the price, and the claim was worth about 70 billion won at the market price at the time. Since then, the price of the virtual asset has soared, and it is estimated that Gopax has suffered losses of at least tens of billions of won as a result.