** Changed the info for CoinExchange. Now that CoinExchange has shut down its activities, I feel more at liberty to say it's a good thing. They had a constant disrespect for their own Terms & Conditions. Listing and delisting "ad libitum". Not respecting their own delisting delays etc. If you protested you were laughed at or even banned. The chat mods made their own shitcoin and sold it on CoinExchange etc. I'm quite surprised they didn't get more negative reactions, but there's a lot of indifference and shoulder-shrugging going on in the world of crypto...
If crypto needs to grow up and become more mature, we have to get these crappy exchanges out for good.** Further on, still no extra info about Nauticus. Meanwhile, their site's not working any longer. There's no updates on Telegram or Twitter whatsoever. Just another case of indifference, I'd say. These people have their activities registered officially in Australia, so what the h*ll is keeping their customers from failing official claims?
It's really beyond my understanding...
** Lastly,
more recent info and news from Cryptopia's liquidators is to be found right here. The most recent report has been published a few weeks ago. At this point,
things are looking quite good actually. If you didn't file a claim yet, DON'T FORGET TO DO SO!
The report is quite transparent but should anyone wish to receive any more information about it, in a more "humanized" language, feel free to let me know. If so, I think it might be better to open a separate Cryptopia-devoted thread for that (should one not exist already).
Crypto is much in its infancy which makes it difficult to fit in with the legislative requirements set by Governments.
It is much the "wild west" out there with a lot of unethical behavior happening like inflated market caps, pump and dump schemes and insider trading.
Unfortunately it means that in order to survive exchanges are often located in dubious jurisdictions through dubious corporate structures and with anonymous ownership structures.
It also means that genuine failures are often seen as exit scams and genuine blocked suspicious transactions result in trolling and black PR campaigns against an exchange.
In a bear market there are a lot of exchange failures and in a bull market there are a lot of opportunist exchange scams.
It is really important that you check the actual corporate structures because when things go wrong the terms and conditions are only enforceable if you can find those that are responsible.
I strongly feel that the crypto market is still very exposed by US$ Tether / Bitfinex and there is a huge risk with the large market turnover that occurs on Binance. I'm not saying that Binance is dodgy (their corporate ethics appear to be well intended) - but if things go wrong it will go wrong very badly due to market reliance on that exchange. Their physical location is kept secret and their CEO is constantly on the move and holds his assets in 100% crypto.
