I read the Forbes article instead, since the other one was in broken English. This caught my eye from Forbes:
Bitsane’s disappearance is the latest cautionary tale for a cryptocurrency industry trying to shed its reputation as an unsafe asset class. Several exchanges like GateHub and Binance have been breached by hackers this year, but an exchange completely ceasing to exist with no notice or explanation is far more unusual.
Unsafe asset class, my ass. True, crypto is irreversible but anyone playing around with coins ought to be knowledgeable enough to keep them safe. That's one of the first things I learned when I got into bitcoin--don't keep coins on an exchange and always be in control of your private keys.
As to the part I bolded above, I might disagree with that somewhat. It's not like we haven't seen exchanges fly the coop with all their customers' funds before. It sucks, but it's not unprecedented.
This exchange was out of Ireland if I'm reading this correctly, and I bet these scumbags will get caught. Ireland is no 3rd world, lawless country--but I don't know how much regulation was going on there. And I wouldn't be surprised if this causes lawmakers to start cracking down on exchanges and/or cryptocurrency. Shitheads like Bitsane obviously don't give two fucks about cryptocurrency and the damage they can do to its reputation. Very sad.
