MCO token was forcibly swapped to CRO on November 2, 2020. The platform still operates, but many MCO holders felt the swap rate was unfair.
| Token Type | Card staking & utility token |
| Platform | Crypto.com (still operating) |
| Swap Rate | 1 MCO = 27.64 CRO |
| Swap Deadline | November 2, 2020 |
| Outcome | MCO holders migrated to CRO |
MCO was the original utility token for Crypto.com's Visa card program. Users staked MCO to unlock card tiers like Ruby Steel, Jade Green, and Icy White, with benefits like cashback and Spotify rebates.
On August 3, 2020, Crypto.com suddenly announced they would be merging MCO into CRO (their chain token). Users had until November 2, 2020 to swap at a fixed rate of 1 MCO = 27.64 CRO.
Many MCO holders were outraged. The swap rate was set when CRO was trading low, and some felt they received poor value for tokens they'd held for years. The announcement gave no prior indication that MCO would be deprecated.
After the deadline, MCO stakes were automatically unstaked and users lost card benefits if they didn't swap.
Unlike most entries in this graveyard, Crypto.com itself didn't fail — it's still one of the largest crypto card providers. However, the MCO swap serves as a cautionary tale about platform token risk and the power companies have over their token ecosystems.