Binance cooperates with project team Self Chain to defraud users’ investments ？Deliberately concealing information about FRONT upgrade and additional issuance of SLF tokens from users, resulting in a large number of users losing money

Binance completed the Frontier (FRONT) token swap and brand upgrade to Self Chain (SLF) on August 30, and opened trading.
Before the completion of this token upgrade, Binance issued an announcement on August 19 about supporting Frontier (FRONT) token swap and brand upgrade to Self Chain (SLF).
Before the completion of the token replacement and brand upgrade, Binance’s report did not mention changes in the total supply of tokens, and a user asked He Yi, a Binance sister, on X to verify whether there was information related to additional token issuance, but But no response was received.

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On August 30, Frontier (FRONT) completed a 1:1 token swap and brand upgrade with Self Chain (SLF). Binance also secretly changed the content of the announcement, adding important information that the total supply of project tokens will increase from 90,000,000 to 360,000,000.

Binance shirks responsibility and puts the responsibility on the users themselves

After the new token SLF was launched on August 30, some users discovered the issue of additional token issuance and approached Binance customer service with an inquiring attitude to verify whether it was due to Binance's negligence in not clearly specifying the token in the old and new token exchange announcement. The prompt for additional issuance turned out to be true. Customer service repeatedly shied away from responsibility, attributing the occurrence of this result to the users themselves and the project side.

It is worth noting that Gate.io, an exchange that also launched SLF tokens, clearly reminded users of the additional issuance of tokens in previous announcements.

Binance and project owner Self Chain jointly defrauded users?

As the largest exchange, Binance’s move really raises doubts about whether it is working with the project team to cut off users. During the token exchange stage, the 1:1 exchange appearance made users mistakenly believe that only equal amounts of tokens were issued. And they turned a blind eye to the users' questions before completing the replacement, but after the project was completed, they tried to protect themselves by shirking responsibility.
This approach of Binance is undoubtedly making fun of user trust. This approach has significantly reduced Binance’s status among the user group and ushered in a piece of abuse online.

The project party’s statement on additional issuance is inconsistent with the actual issuance situation. Previously, the project party stated:
The majority of tokens will vest, starting with 28.8% of the total supply being released in TGE, ~103.6M SLF: 90M from migration allocation, 13.6M from ecosystem allocation. Therefore, 3.78% of new tokens will be issued.

According to the self chain data of the block explorer (https://explorer.selfchain.xyz/selfchain), it shows that it is inconsistent with the previous project announcement. The total number of tokens increased from 90m to 360m, of which 221m were locked. , that is, the circulation increased by 50m.
However, previous documents from the project team stated that the circulation increased by 13.6m, of which it is unknown who holds the 37m tokens.

The current Self chain (SLF) price is $0.6111. It reached a small peak one day after the token was completed, and the price reached $0.83. Compared with the front market value before the update, it increased and then plummeted, falling by nearly 16% in the past seven days.

This time, the project team cooperated with Binance to complete the empty-handed white wolf, and the market value tripled. The previous front had a market value of approximately US$21 million before the update.

After completing the project update, the market value of SLF once reached US$68 million. The project team and Binance created more than US$40 million in tokens out of thin air, directly controlling the entire market. This is undoubtedly a huge hidden danger to user holders. .