Cryptocurrency

"Robinhood to delist tokens for Solana, Cardano, and Polygon after SEC suits name them as securities"

2023-06-09 [vendor] Robinhood to delist Solana, Cardano, Polygon tokens [chain] solana, polygon, cardano
Primary Source ↗
Blockchain(s) Solana, Polygon, Cardano

Incident Details

Robinhood announced that its crypto exchange will delist the tokens for Solana (SOL), Cardano (ADA), and Polygon (MATIC) after they were described as unregistered securities in lawsuits against Binance and Coinbase. They seem to be the first exchange serving US customers to delist tokens mentioned by the SEC in the lawsuits. On June 12, they were followed by eToro US, who delisted ALGO, MANA, DASH, and MATIC. On June 16, Bakkt delisted SOL, ADA, and MATIC.While simply claiming in a lawsuit that a crypto token is a security does not necessarily constitute a firm decision that it is so, this has been enough in the past to lead exchanges to remove token listings. The 2020 lawsuit against Ripple and its XRP token led to the token widely being delisted from exchanges serving US customers.

Technical Details

Initial Attack Vector
Regulatory / legal action
Vendor / Product
Robinhood to delist Solana, Cardano, Polygon tokens

Timeline

  1. 2023-06-09 Breach occurred
  2. 2023-06-09 Publicly disclosed