NES Token Recovery Plan Leaves Some Holders Behind

NES token trading and funding have officially returned to Binance Alpha and Kraken as of September 10. These updates follow a significant security incident on August 24 that affected the token contract and led to massive losses. However, the recovery is not a uniform process, and how you get your tokens back depends entirely on where you held them.

Binance Alpha is using a specific two snapshot system to manage the relaunch. Users who held NES before the August 24 exploit and kept them until the suspension on September 5 are eligible for a one to one swap. Tokens bought after the initial exploit are excluded from this swap and will instead be handled through a separate refund process that the exchange has yet to fully detail. Users should check their registered email for further instructions.

Kraken has taken a different approach by migrating NES to a brand new Ethereum contract. While Ethereum based deposits and withdrawals are back online, BNB Chain support for the token remains disabled. Kraken users must ensure they use the new contract address for any future transfers to avoid losing their assets. If you are using this platform, double check your deposit settings before moving any funds.

For those holding NES in private wallets, the situation is much more uncertain. The steps taken by these exchanges do not apply to self custody holders. There is currently no official migration process for personal wallets, so you should remain patient. Avoid interacting with any contract address until the project team provides verified instructions through their official channels to protect your remaining assets.