A crypto donation of $200,000 made by Binance to a Maltese cancer charity in 2018 has now grown to an astonishing value of about $37 million, but it remains unclaimed due to verification disputes.
In a post on Monday on X, Conor Grogan, the Head of Product Business Operations at Coinbase, brought attention to the value of this unclaimed donation. The funds were part of a charity campaign by Binance back in 2018 and have been sitting idle ever since.
“Any Malta citizens, please let your government know that these funds are accessible,” Grogan wrote.
From $200,000 to $37 million
The 30,644 BNB donated was worth $200,000 back in 2018. Currently, that value is now nearly $37 million due to price appreciation.
“Due to the price appreciation of these crypto assets, these funds are now able to help even more people in need,” Binance stated in a 2021 announcement.
However, the relationship between Binance and the Malta Community Chest Fund has been rocky, with threats of legal action in 2021 over alleged failures to meet documentation requirements. Those issues were later resolved, but the donation still hasn’t reached those in need.
Since 2021, Binance has been waiting on the Malta Community Chest Fund (MCCF) to verify patients’ details for the transfer of funds, but the MCCF has been reluctant to share the necessary information.
In a prior statement, Binance emphasized that transferring donations directly to recipients is a priority for ensuring transparency and efficiency.
“Regrettably, when donation plans were submitted to BCF on 24th November 2020, the plans did not include the end-beneficiaries’ crypto-wallet addresses that were necessary to enable BCF to transfer donations in accordance with the terms.”
Ultimately, neither Binance nor the MCCF provided comments when approached by Cointelegraph for further insights.
