VeriSafe April / May Update - Community and Swap

Updated : May 6th

What has happened?

Over the last month or so, VeriSafe has been dealing with some changes in exchanges, some unusual token movements, and some reorganization in the team. We have decided to take measures to protect the community holders and the long term vision for the project.

In summary (as we have a non-disclosure agreement):

  • We have been reissuing VeriSafe utility tokens in order to prepare for the platform functionality later this year.
  • We have already changed the team line-up.
  • We are no longer associated with VeriSafe as based in the Netherlands. VERISAFE 72354682 HAMSTERKOOG 3 A, 1822CD, ALKMAAR. This move allows greater separation of projects and responsibility and is purely a business decision.
  • We will be registering a new business address and owner in order to operate with partners that require banking details. Details not yet confirmed.

Current process for the swapping old VSF to new VeriSafe Token (VSF)

In order to make a fresh start with new operating structure, and audited team circulation we have been carrying out the following:

VeriSafe administrators are currently swapping to a new token (VSF).

MOST POPULAR QUESTION : How long do I wait until I receive the new VSF tokens?

  • We estimate around a week should be enough after sending the tokens in order to receive your new VSF tokens if you are eligible.
  • Exchanges: STEX, Bleutrade , IDAX, CoinBene have completed already. These are new tokens.

For holders with tokens in their personal wallets already there is a 'manual swap':

This will require anyone wishing to continue as part of our community to swap to a newly issued VeriSafe Token (VSF). (It will be given a new contract number).

  • Do not send your OLD VeriSafe VSF to any exchanges that appear open, and do not send them to any old deposit addresses that you have. Doing so will likely lose your tokens.
  • You should transfer your old VSF from your personal wallet to our swap wallet:
  • 0x7C1bEDC9bD8f7AB32dA3e7e00bf6EA32f15D733d
  • Please allow 2-3 weeks to receive your new VSF tokens.
  • Provided that there is not suspicious or unauthorised token movement on your wallet, you will be reissued the new VeriSafe Token (VSF).
  • This 'Manual swap' will be processed last to reduce the risk of people losing tokens / buying old tokens.

For holders with tokens (as of May 1st) on STEX, Bleutrade, IDAX, CoinBene:

  • These tokens have been swapped and are new VeriSafe. You do not need to move tokens anywhere.
  • Do not send your tokens to the swap address.

For holders on unofficial Decentralised exchanges:

  • Tokens bought from EtherDelta / EtherFork WILL NOT be honoured as part of the swap, so please do not place orders to buy these.

Questions that you might have

Why would you need to swap?

  • We wish to make a fresh start with new tokens, and an audited supply. We have noticed unusual movement of tokens and wish to protect the community against this.

Is there another swap?

  • Yes, we need to swap to protect the community and long term vision of the project.

What wallets will be compatible to swap from?

  • MEW
  • MetaMask
  • Enjin
  • ANY ERC20 Ethereum wallet
  • VeriSafe Desktop wallet (
  • STEX (Completed)
  • Bleutrade (Completed)
  • IDAX (Completed)
  • CoinBene (Completed)

When can we manual swap and how long do we have to do it?

  • The swap will start now, and the 'manual swap' will be open until 16th July 2019.
  • If you miss this deadline, then any requests will be entirely at the discretion of the Lead advisors.

How to use an Ethereum wallet?

  • Most will have an area to add a custom token, and then send the custom token to a receiving address.
  • Please seek guidance from the wallet provider on specific usage instructions.

What is existing (old) VeriSafe custom token ID?

  • It‘s not written here because people will send tokens to it. (Yes, It happens.)

Do I need Ether / gas in my wallet to send out (old) VSF to the swap address?

  • Yes, a small amount (less than $1) should be more than enough.

If you are performing a manual swap, What is the swap address to send OLD VSF to?

  • 0x7C1bEDC9bD8f7AB32dA3e7e00bf6EA32f15D733d

What should I do with my (old) VSF tokens in my wallet?

  • Please send old VSF only to our swap wallet (0x7C1bEDC9bD8f7AB32dA3e7e00bf6EA32f15D733d) and your new VeriSafe token (VSF) will be sent back to you. (Provided that there is not suspicious or unauthorised token movement on your wallet, you will be reissued the new VeriSafe Token (VSF).)

How long do I wait until I receive the new VSF tokens?

  • We estimate around a week should be enough after sending the tokens in order to receive your new VSF tokens if you are eligible.

How do I see these new VSF tokens (VSF) in my wallet?

  • Don‘t send token to the address in the next line.
  • You will need to add the new contract, which is : 0xAC9ce326e95f51B5005e9fE1DD8085a01F18450c
  • If you are using the VeriSafe Desktop wallet, please ensure that you have upgraded it to the latest version.
  • And the decimals are 18.
  • And the ticker is remaining as VSF.

What is the new token name?

  • It is still VeriSafe, and the ticker will be VSF.

What do I do with my tokens on an exchange?

  • The exchanges STEX, Bleutrade, IDAX, CoinBene have already completed their swap. You can do what you like with them now.

Exchanges have a daily allowance, I cannot transfer out all my tokens, what should I do?

  • It is possible that your number of tokens would go over your daily allowance, so please transfer them over more than one day.

My tokens are lost what will happen?

  • We are sorry that this has happened, but we cannot compensate anyone who lost tokens.

How can I prove my tokens were on CoinBene?

  • We are not asking for you to prove you held on CoinBene, the swap is completed with CoinBene.

Will CoinBene refund me if I cannot withdraw?

  • Sorry, you need to ask for support via CoinBene.

I bought from the EtherDelta Exchange by accident, what do I do?

  • Nothing for now. Please don’t buy more. They will likely be rendered worthless and not considered for the swap. Please contact us in the Telegram group to discuss.

I would like to sell my tokens, but can't send them to an exchange, what do I do?

  • Sorry, you will need to wait until the exchanges re-open trading.

Will you buy the tokens back from users?

  • No.

VeriSafe Team thank you for your patience these last few weeks. - VeriSafe Telegram group.