Coinbase (COIN) is telling its users to take their Bitcoin SV (BSV) off the platform by January 9 or face liquidation.
“If you fail to withdraw your BSV funds, Coinbase will liquidate any remaining BSV remaining in your Coinbase account,” the notice from Coinbase reads.
The Craig Wright coin, which is said to be the pure “Satoshi’s Vision” version of bitcoin (BTC), is down 1.74% on the news, according to CoinDesk indices data. However, the token trades thinly on the markets with a daily trading volume of $29.5 million and a market cap of $945 million.
A 51% attack refers to a situation where malicious miners gain over half of a blockchain’s mining power, allowing them to undermine the network by invalidating honest blocks in favor of their own longer chain.
In 2019, Binance CEO Changpeng Zhao ordered BSV to be delisted from his exchange after calling Wright a fraud.
Edited by Parikshit Mishra.