Exchange recovery rules create split outcomes for NES token holders after security incident

Nesa’s NES token returned to trading on Binance Alpha and regained Ethereum funding on Kraken on September 10 after venue‑specific interruptions tied to an August 24 token‑contract security incident.

Binance Alpha’s two‑snapshot approach

Binance Alpha will conduct two eligibility snapshots:

• Users who held NES before August 24 at 14:51 UTC and also held an eligible portion when trading was suspended on September 5 at 04:00 UTC qualify for a 1:1 swap.
• NES acquired after the August 24 cutoff is excluded from the swap and will be handled via a separate refund process.

Eligible users will receive an email with refund details within seven business days. Trading is scheduled to reopen at 08:00 UTC on September 10.

Kraken’s migration to Ethereum

Kraken will automatically migrate NES held on its platform 1:1 to a new Ethereum contract. Ethereum deposits and withdrawals resumed at 14:00 UTC on September 10, and the funding incident was marked resolved shortly thereafter.

Funding on the BNB Chain will remain disabled, and only Ethereum‑based NES will be supported going forward. Users must select the Ethereum network and verify the new contract details before transferring.

Implications for self‑custody holders

The exchange‑specific actions do not provide a universal migration solution for NES held in private wallets. As of now, Nesa’s official site and wallet documentation do not outline a self‑custody migration process.

Holders should verify any contract address and migration steps through official Nesa channels before approving any contract interaction or moving tokens.