Blockchain

Papertrade Keeps PAPER Non-Transferable, Citing Perp Attack Risks

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 19/10/2026, 22:57:24 UTC.

Briefings

The paper trading platform Papertrade announced that PAPER tokens cannot be transferred or sold, even though holders can stake them for USDC distributions. This restriction was implemented to mitigate risks from potential perpetual contract attacks, which could allow attackers to manipulate token prices and extract value from the platform. The decision affects all PAPER holders who have earned tokens through trading losses, as they retain the ability to stake but face a permanent lockout on the secondary market.

Key points

• PAPER tokens are non-transferable and cannot be sold or transferred, despite holders being able to stake them for USDC distributions.
• The restriction was implemented to prevent perpetual contract attacks that could manipulate token prices and enable value extraction.

Context

Papertrade is a paper trading platform for cryptocurrency trading. The restriction on PAPER tokens aims to protect users from potential exploits in perpetual contracts that could lead to significant financial losses for traders.

Limitations

The evidence is limited to the platform's announcement regarding the non-transferability of PAPER tokens. No specific dates for the attack or the implementation of the restriction are provided, and the exact impact of the attack on the platform's security remains unverified.

Generated by Bittrees-hosted qwen35-2b sha256:aaf42c8b7c3c on 19/10/2026, 23:06:03 UTC. Based on publisher-provided feed evidence; may not cover the full original article. Check the source for details.

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