OpenLedger is decentralized? What is this?

[zhou2]

OpenLedger.io has delisted Rise last year: https://dex.openledger.io/news/openledger-dex-to-disable-some-gateways-in-november/

This is from the BTS blockchain: https://bts.ai/u/openledger-delisting and https://bts.ai/a/OPEN.RISE

Today there was a transfer from OpenLedger to LiveCoin: https://explorer.rise.vision/address/14642169032078058459R

What is going on?

[dwildcash]

So basically they will dump 1M Rise on livecoin? Where those Rise come from?


Here the transaction

http://rise.minionsteam.org/address/14642169032078058459R

[zhou2]

Now I don't get it.

I though that decentralized means that the users hold their private keys and not OpenLedger. The amount of RISE being send to LiveCoin is almost the amount from the users: https://bts.ai/a/OPEN.RISE

Clearly OpenLedger did something. 

[malikusama]

OpenLedger.io has delisted Rise last year: https://dex.openledger.io/news/openledger-dex-to-disable-some-gateways-in-november/

This is from the BTS blockchain: https://bts.ai/u/openledger-delisting and https://bts.ai/a/OPEN.RISE

Today there was a transfer from OpenLedger to LiveCoin: https://explorer.rise.vision/address/14642169032078058459R

What is going on?

That's a valid point, i don't know what exactly is happening but it's suspicious activity.
It seems that they have transferred those Rise which wasn't withdrawn after 30 Nov , but how can they access those tokens when exchange is decentralized.

[stomachgrowls]

OpenLedger.io has delisted Rise last year: https://dex.openledger.io/news/openledger-dex-to-disable-some-gateways-in-november/

This is from the BTS blockchain: https://bts.ai/u/openledger-delisting and https://bts.ai/a/OPEN.RISE

Today there was a transfer from OpenLedger to LiveCoin: https://explorer.rise.vision/address/14642169032078058459R

What is going on?

That's a valid point, i don't know what exactly is happening but it's suspicious activity.
It seems that they have transferred those Rise which wasn't withdrawn after 30 Nov , but how can they access those tokens when exchange is decentralized.

All transactions happened on 15.This is really very suspicious but we cant still drawn some conclusions yet.

[leea-1334]

Now I don't get it.

I though that decentralized means that the users hold their private keys and not OpenLedger. The amount of RISE being send to LiveCoin is almost the amount from the users: https://bts.ai/a/OPEN.RISE

Clearly OpenLedger did something. 

No,,, holding your own private keys just means that the ownership of funds belongs to you, in which case this is not a custodial exchange,,, meaning they do not keep custody of your cryptocurrency.

This is actually what most decentralized exchanges are about. They only decentralize ownership of funds and nothing else. There are many other aspects for decentralization to take care of.