I just had all my coins disappear. Need help getting them back. Made a new wallet. I’ve sent you guys emails nothing is being done. This isn’t cool.
Hello @Zik1
There is no problem with the app.
This token has an elastic supply.
Elastic supply tokens have a changing circulating supply.
The idea is that instead of price volatility, what changes is the token supply through events called rebases.
Simple explanation. Price goes up, less tokens. Price goes down, more tokens.
I suggest you to read and understand on tokenomics of any project before investing.
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Hello im missing funds on my trust wallet app. I noticed they were transferred but not by me. Eth,FLOKI,SHIBA INU were affected. Anyway to retrieve my funds?
This is the SHIBA INU transaction that happened this morning while driving to work. It has also affected my coinbase wallet.
Transaction hash: 0x760868e5e68d9d01c32f20d2b90e101bf10777d3e51471b8fe3dc5f0793aed76
@JennyMillan
Thanks for your reply and help.
I was not aware of this, and let it be an information to others that are not familiar with these Elastic (Rebase) tokens…
Quote from Binance Academy below:
"The risks of elastic supply tokens
Elastic supply tokens are highly risky and very dangerous investments. You should only invest in them if you completely understand what you’re doing. Remember, looking at price charts isn’t going to be all that helpful, since the amount of tokens you hold will change after rebases occur.
Sure, this can amplify your gains to the upside, but it can also amplify your losses. If rebases occur while the token price is going down, you not only lose money from the token price going down, you’ll also own less and less tokens after each rebase!
Since they’re quite tricky to understand, investing in rebasing tokens will likely result in a loss for most traders. Only invest in elastic supply tokens if you can fully grasp the mechanisms behind them. Otherwise, you’re not in control of your investment and won’t be able to make informed decisions."