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RealFlokiInu Accuses Bitget of Unbacked Trading and Fake Token Listing!

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Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

RealFlokiInu, a decentralized autonomous organization (DAO), has accused Bitget of acting in bad faith and not being transparent about its solvency after the exchange listed a fake version of TokenFi (TOKEN), a token that emerged from the DAO’s vote to launch the Floki staking program. Bitget listed the fake token before RealFlokiInu officially made it tradable. Furthermore, the exchange reportedly traded tens of millions of dollars in TOKEN volume, despite not having any evidence of a single unit of the real token in any of its wallets. RealFlokiInu claimed that Bitget has refused to address this issue and suggested that up to $20 million worth of TOKEN purchases may not be backed by any tokens in Bitget’s reserves.

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