GoPlus Security (@GoPlusSecurity): Clarification on the GPS Token Buyback Process

Clarification on the GPS Token Buyback Process Dear GoFam, In light of community concerns regarding the GPS buyback we would like to provide the following clarification: Current Status We have been working closely with Binance to complete the process for executing the buyback. Since executing a buyback requires a corporate account, and GoPlus did not previously have a registered business account on Binance. So we need to complete a comprehensive KYB (Know Your Business) process to establish a corporate Binance account that can be used to execute the buyback procedure. The necessary documentation must be requested from relevant authorities by our parent company's legal team, which has caused some delays. However, with the KYB approval now secured, we believe we will be able to execute our buyback plan very soon. 🎉Good news: We're excited to share that our KYB process has just been approved! Our next step will be to coordinate the retrieval of the frozen funds as quickly as possible. Our Commitment For the GoPlus team, community trust is paramount. We are absolutely committed to resolving genuine security issues in Web3, and there is no intention to deceive or delay. We acknowledge that we should have communicated about the KYB process with the community earlier, and this lack of timely updates was our oversight. Moving forward, we commit to sharing all information that can be made public with the community in real-time. After our previous challenges, we are determined to proceed carefully and in full compliance with regulations at each step of the way. We understand your concerns and appreciate your continued patience and support during this process. Thank you for your ongoing trust in our vision to create a more secure Web3 ecosystem. What's Next We want to let you know that despite recent challenges, we have not slowed down our efforts. On the contrary, our team has been working intensively on developing new product features and cross-chain asset capabilities. In the coming week, we will be gradually releasing the results of our recent development work that we've been cooking behind the scenes. We will also release the Buyback Update every week in the next future. Stay tuned for these exciting announcements within one week!