Update on on Hoo Exchange | MetaFinance

2 min readAug 12, 2022



Due to rapidly changing market conditions, many external investment institutions, chains, lending projects and platforms have successively encountered problems, crypto exchange Hoo has suffered a gap in its cash flow, according to its statement on July 24.

In order to quickly solve the problem of cash withdrawal, ensure that user assets are not lost to the greatest extent, and resume platform operations, Hoo has launched a debt-to-token conversion plan and a partner investment plan, and it will optimize financial derivatives futures tradings.

However, due to the impact of the deletion of the system by HOO internal staff on the 15th of last month, the MFI data within HOO has not been able to be restored to normal until now. After our legal investigation and discussion, HOO will officially freeze and permanently deactivate MFI within the Hoo exchange address.

Our Solution:

For MetaFinance users who are holding $MFI on HOO.com, they can fill in the relevant MFI information form and submit to the community in time.

After verification by the technical community, MetaDAO will deliver the same amount of MFI to these users’s new wallet address by reallocate the reserve MFI in MetaFinance.

For users who are involved in this matter, please fill in this form (🔗https://docs.google.com/forms/d/e/1FAIpQLSflBB6uc4pLNFO13ZmhVOKT2IZC7iqf8BvfZbeKVcJe2xGB0A/viewform ), and submit between August 12 to August 17, 2022; after this period there will be inaccessible to participate in this restoration progress.

Thank you all for your support and understanding!

Our Value:

Put Users First

Act With Fairness

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