Open Letter Sparks Controversy Over DOG Delisting on Bitget
The Bitcoin Rune DOG community has taken a public stand. In a detailed open letter to Bitget CEO Gracy Chen, prominent community figure Leonidas criticized the exchange's decision-making timeline following a recent security breach, calling the sequence of events highly unusual.
The Core Issue: Timing and Procedure
Leonidas outlined that shortly after Bitget disclosed a hack and froze user withdrawals, it proceeded to announce the delisting of the DOG spot trading pair—all while withdrawals remained suspended.
This move, described as announcing a delisting during a period when users could not move their assets, created a perfect storm. The combination of the delisting notice, frozen funds, and the underlying trust crisis from the hack triggered a specific market distortion.
The Immediate Impact: Severe Price Deviation
The practical consequence was a significant price deviation for DOG on Bitget compared to other major exchanges. With the withdrawal function disabled, holders were unable to arbitrage the price difference, leaving them exposed to losses caused by this artificial market inefficiency.
Long-term traders of DOG on the platform found themselves unfairly disadvantaged by these non-market forces, fueling community frustration.
Community Demands: Restoring Fair Market Conditions
The letter moved beyond criticism, presenting data to substantiate DOG's standing and the community's formal request.
DOG's Market Profile and Community
- Market Cap: Exceeds $100 million.
- Trading History: Listed and actively traded on Bitget for over two and a half years.
- Cumulative Volume: Total trading volume on the exchange surpasses $1 billion.
- Community Base: Leonidas asserted that DOG's active community is larger than that of many smaller tokens still listed on Bitget.
This profile, the argument goes, means DOG is not a negligible asset, and its delisting carries substantial consequences.
The Formal Request: Reopen Trading
On this basis, Leonidas formally requested that Bitget restore DOG spot trading immediately. The community views this as the most direct solution to correct the abnormal market conditions and protect user interests.
Concluding the letter, Leonidas expressed hope for Bitget's recovery from the hack, wishing them success in retrieving stolen assets and handling the aftermath. This tone suggests an appeal for resolution rather than mere confrontation.
Bitget has not yet issued an official response to the open letter. The outcome will be watched closely, as it touches on how exchanges manage operational risk against their duty to maintain fair and orderly markets for users.