Globiance News and Platform Migration Update

To our valued platform users:

We want to begin by offering a sincere and heartfelt apology to all of our users for the delays and chaos you've experienced during the migration process. We fully acknowledge the frustration this has caused, and deeply regret the inconvenience it has brought to your experience. Transitioning to a new platform is never easy, and we understand that the unexpected setbacks have disrupted your ability to access your accounts as well as our services. Please know that we take full responsibility for these issues, and we are working around the clock to resolve them as quickly as possible. Your patience and understanding during this challenging time have been invaluable, and we are committed to making things right.

Initially, our plan was to have the new platform in active-testing between April 1st and August 1st, 2024, with the goal of having it fully up-and-running smoothly by August 1st. However, due to the necessity of a change in service provider, we were forced to restart the new platform project on August 10th. This, combined with significant delays related to the data center transition, resulted in several months of lost time.

As of now, we’re closer to where we had hoped to be on August 1st, but obviously we're not there yet. We‘re working hard to get everything up and running smoothly while also managing the migration process. Unfortunately, we’ve fallen short in this regard, and for that, we deeply apologize.

While we’ve been focused on resolving multiple issues at once, we recognize that communication has been lacking. Clearer, more frequent updates for users are essential, and we acknowledge that we need to do better with keeping you informed. We truly appreciate your patience and continued support as we work through this.

We thank you for bearing with us.

The Issue with XDC Staking:

During the migration process we encountered an unexpected issue with XDC staking that caused several problems: Stakes were accessed and redeemed before they had matured, while others couldn't be unstaked as expected. In addition to this, there were some users who, upon realizing there was a glitch in the staking program, exploited it and redeemed staking benefits they were not entitled to—multiple times.

Due to the sensitive nature of the issue, we could not disclose the details until the situation was totally under control, in order to prevent further exploitations. To clarify, this was not a hack, and no data was compromised. The tech team has determined that the glitch stems from an internal issue within the staking system itself, which unfortunately wasn't identified until it was too late in the process.

As of right now we are focused on the completion of migration to the new platform which, as you can imagine, is a huge undertaking. Once the migrations have been completed we will address the issue with XDC staking. The goal is to have everything resolved and in place by January, in order to ensure accuracy and avoid mistakes, but if everything goes smoothly— it could be much sooner. We will set all pool dates to March 25, 2025 to have enough time to analyze and verify the situation. would be the absolute latest, however, we don’t anticipate it taking that long at this time.

From what we have determined thus far, XDC Staking was the only system affected by the glitch allowing multiple redemptions. We are doing a complete audit all of the reward systems to ensure balance accuracy across the board.

Staked XDC balance issues will be addressed and rectified as soon as possible.
XDC Withdrawals will be halted until the balances have been verified and confirmed.

100% Safety of Funds

Your funds are 100% safe at all times. Even though we have to review the balances and analyze what went wrong with duplicate rewards redeeming we will simply rectify all balances and then continue as usual.
You can not lose any funds. Period.

And if you worry about the GBEX price, don't sell any GBEX and wait for the migration to end and we launched new campaigns and returned to business as usual.
You are not forced to sell, we know that the situation will normalize.

Globiance and GlobiancePay will go on no matter what some frustrated users may say.
We understand that frustration comes with emotions that need to be expressed and we understand that they are unhappy.

We will also send two more reports about positive developments in Globiance and GlobiancePay shortly.
Read them to understand what is really going on.

V3 MIGRATION:

To migrate your current Globiance assets to the new V3 platform, start by creating a new account at v3.globiance.com, ideally using the same email address associated with your original Globiance account. Since we’ve switched to a new service provider, you will need to complete the KYC and POR processes again. Once your verification is complete, you can visit the V2 platform, click on the migration button, and submit the request to transfer your assets. Once the migration process is initialized, your assets will be successfully moved to the new V3 platform.

Once your KYC has been approved, the ‘START MY MIGRATION’ button will appear on exchange.globiance.com.

Click on ‘Start My Migration’ button and the process of migrating your assets from your original Globiance account over to the new V3 platform, will be initialized.

APP MIGRATION UPDATE

• We are now preparing for the App migration to V3.

• Expect V2 App outages throughout the month as we go through the process.

• If the app is unavailable, please use the V3 online version: v3.globiance.com

• If you haven't signed up for the V3 platform yet please do so. Once you have submitted your KYC, contact the support team to migrate
your V2 balances if the V2 App or V2 Web Platform is unavailable.

• We will be making an announcement as soon as the V3 App is online.

If you have any questions, please contact the support team at: [email protected]

PENDING PHYSICAL CARD ORDERS:

All users with pending ‘physical card’ orders; please be advised that all prepaid and verified physical card orders will be canceled and you will receive a full refund.

Customers who had previously placed an verified order for a physical card that is ‘pending’, will be prioritized and be the first to receive the Free Virtual cards.

Any Globiance user who had previously placed a verified order for a physical card, will also be receiving a free plastic physical card - with delivery expected within the next 8 weeks.

BEHIND THE SCENES:

Behind the scenes, we’re making significant progress across all areas - including ‘up and coming’ features we think Globiance users will love! Everything is moving in the right direction and we look forward to introducing the Globiance V3 platform to the world stage as a seamless exchange and fully optimized banking platform.

We recognize that ambitious plans come with significant challenges, but from the outset, we have consistently overcome these obstacles and continue to transform each one into an opportunity for growth. We remain fully committed to maintaining this momentum and driving progress forward.

Thank you for sticking with us—we’re moving forward, and we’re confident the new platform will offer a far better experience once the transition is complete. Stay tuned for more exciting updates — the best is yet to come!

Sincerely,

Oliver Marco La Rosa, CEO
& The Globiance Team