"Decentralized" exchange dYdX confirms blocking accounts linked to tonado cash

[Bitcoin_Arena]

Well, is it diabolical?

The same startups and projects that claim to bring in excellent new solutions, new decentralization, web 3.0 or even web 100.0 are the same projects that end up making a big U turn after a couple of years when they get numbers in trading volumes and start bending the rules.

One of the culprits is dYdX

Look what their founder said a couple of days back

https://twitter.com/AntonioMJuliano/status/1556763064598511616

And then this happens


https://twitter.com/exegor/status/1557453734522884097

Well there was some collateral damage too

https://twitter.com/dYdX/status/1557483063231164416

The platform said it has used compliance vendors to scan for and flag accounts potentially associated with illicit activities, including sanctions lists for many countries.

Cryptocurrency derivatives trading platform dYdX said it blocked some users’ accounts with funds linked to Tornado Cash, including mistakenly suspending some that never directly engaged with the controversial mixer

Question is do you still believe in these "DEXES" that are run by smart contracts and who devs can just wake up any day and make tweaks based on their mood or emotions?

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[_act_]

Question is do you still believe in these "DEXES" that are run by smart contracts and who devs can just wake up any day and make tweaks based on their mood or emotions?

We can get the answer easily from altcoins, are they decentralized? No. Why? Because they all have centralized authorities. Just like ethereum and many others. Decentralized exchanges with those smart contracts have central authorities.

Decentralized exchanges which are using smart contract have central authorities. Or am I wrong? The central authorities can change their decision at anytime in a way the meaning of decentralized would be changed overtime.

[Apocollapse]

What can I say is the only true decentralized exchanges exist until now is just Bisq, the rest are just centralized since the users which have a control about the pools can change their decision anytime when the government force them to ban the specific address.

Those so called DEXES e.g. Uniswap, Pancakeswap, and any other swap are just offering a fake decentralized swap. They're think "decentralized" are only need to connect using the customers wallet without create an account, but the true decentralized are more than that.

[stompix]

The same startups and projects that claim to bring in excellent new solutions, new decentralization, web 3.0 or even web 100.0 are the same projects that end up making a big U turn after a couple of years when they get numbers in trading volumes and start bending the rules.

Finally seems like there is no longer just a single case when "something" has gone wrong, the usual but it's not like that for all of them, the whole charade is coming down in flames. The whole myth of the new Defi solutions that will revolutionize banking and give your freedom back was simply a lie, a hyped word that in reality had no meaning whatsoever, everyone should have understood that from the moment the first coins were frozen or blacklisted that this was just a way to cash on the hype and to trick gullible users that they've bought something special and it's actually theirs.

But something that needs to be mentioned is that of course they are not doing this on purpose, but they are doing the same things banks do with just one thing in perspective, staying afloat and making money. They will change Defi into Cefi immediately just like a lot of them have abandoned Defi for NFT for web3.0 for everything that was bringing more money.

Question is do you still believe in these "DEXES" that are run by smart contracts and who devs can just wake up any day and make tweaks based on their mood or emotions?

The ones who will read this topic probably knew it well before those are not to be trusted, the others will not even care, they are busy asking on Twitter if "Terra back to 100$?"

[dkbit98]

Question is do you still believe in these "DEXES" that are run by smart contracts and who devs can just wake up any day and make tweaks based on their mood or emotions?

I said before but I will repeat again, all this ''dex'' exchanges are not really decentralized in any way, including uniswap, dydx and all other junk built on ethereum and eth second layers.
Only real dex I know is Bisq, everything else only has a dex stiker, using servers and stuff like Infura that is blacklisting addresses, and they are only giving false sense of better security to people.
Sorry if I am hurting anyone feelings, but I am just stating the facts and anyone can do more research about this.

[Bitcoin_Arena]

What can I say is the only true decentralized exchanges exist until now is just Bisq, the rest are just centralized since the users which have a control about the pools can change their decision anytime when the government force them to ban the specific address.

Those so called DEXES e.g. Uniswap, Pancakeswap, and any other swap are just offering a fake decentralized swap. They're think "decentralized" are only need to connect using the customers wallet without create an account, but the true decentralized are more than that.

Spot on mate. I am glad, so many members here already know that the likes of uniswap are just fake decentralized exchanges. Decentralization is more than shit smart contracts

Finally seems like there is no longer just a single case when "something" has gone wrong, the usual but it's not like that for all of them, the whole charade is coming down in flames. The whole myth of the new Defi solutions that will revolutionize banking and give your freedom back was simply a lie, a hyped word that in reality had no meaning whatsoever, everyone should have understood that from the moment the first coins were frozen or blacklisted that this was just a way to cash on the hype and to trick gullible users that they've bought something special and it's actually theirs.

But something that needs to be mentioned is that of course they are not doing this on purpose, but they are doing the same things banks do with just one thing in perspective, staying afloat and making money. They will change Defi into Cefi immediately just like a lot of them have abandoned Defi for NFT for web3.0 for everything that was bringing more money.

True, every hype cycle is filled with the buzzy and trendy new names to the same old shady schemes. Only the intelligent few are always able to figure it out

I said before but I will repeat again, all this ''dex'' exchanges are not really decentralized in any way, including uniswap, dydx and all other junk built on ethereum and eth second layers.

indeed. Last year, my post about pseudo decentralized Uniswap got some gullible chap to catch some feelings  

[Lucius]

It seems that the fall of that mixer has a little more consequences, unlike all those mixers that suffered a similar fate in the past. The funds that passed through that mixer are obviously under surveillance, and there are more and more cases where users of different platforms report blocked accounts. The thing is even stranger because you didn't even have to be a user of that mixer for it to cause you problems.


Source

Question is do you still believe in these "DEXES" that are run by smart contracts and who devs can just wake up any day and make tweaks based on their mood or emotions?

I have never believed and will never believe in those fairy tales, and I hope that one day people will come to their senses and realize how susceptible the whole thing is to manipulation.

[PrimeNumber7]

It seems that the fall of that mixer has a little more consequences, unlike all those mixers that suffered a similar fate in the past. The funds that passed through that mixer are obviously under surveillance, and there are more and more cases where users of different platforms report blocked accounts. The thing is even stranger because you didn't even have to be a user of that mixer for it to cause you problems.

[img width=400 ]https://i.imgur.com/8ILaMnp.png[/img]
Source

There are reports of some people sending transactions from Tornado Cash to many well-known ETH addresses, including those belonging to various exchanges, and to various celebrities. This is something that will probably cause many exchanges to rethink how they handle customers who have received transactions from illicit sources, and may even lead to litigation surrounding "taint".

[stompix]

The thing is even stranger because you didn't even have to be a user of that mixer for it to cause you problems.


Source

I have zero ETH right now, I've never used TornadoCash ever, but I wouldn't mind getting all my addresses blocked with 0.1 ETH in each. 
Where do I sign up to be a pissed fof celebrity receiving unwanted money?

This is something that will probably cause many exchanges to rethink how they handle customers who have received transactions from illicit sources, and may even lead to litigation surrounding "taint".

Since this is the crypto world and since in the last period we've seen only moves towards centralization and even worse proposals, for example, the rollback proposed by CZ after the hack of Binance we're not going to see a change in the definitions but more likely some new features, some shitcoins have already come with a proposal of individual whitelisting and blacklisting of addresses to which you can send funds, so Pandora's box is wide open.

Back to dydx:
https://twitter.com/AntonioMJuliano/status/1558088426926313472
Some people have really no shame, after blocking accounts how they are proclaiming they will fight against this till the last satoshi....

[The Sceptical Chymist]

True, every hype cycle is filled with the buzzy and trendy new names to the same old shady schemes. Only the intelligent few are always able to figure it out

Out of all the people who've posted in this thread thus far, I'm probably the least knowledgeable about the machinations of these things, i.e., what makes these so-called DEXes tick.  But goddamn, I've lived long enough to develop a keen sense of smell, and I can recognize the scent of bullshit from a mile away.  Sometimes I visit various altcoins' websites, and they all look very similar, with similar bewildering jargon (the second-layer, web 3.0, blahblahblahblah stuff), and without even knowing what the hell is being said I'm 99% sure it's designed to impress pants-shitting monkeys with little-to-no frontal cortex activity.

Oh, and it took me a while to realize just how centralized PoS altcoins are.  Those "community funds" a lot of them have seem to be just a big piggy bank that the devs and whoever else can use as their personal ATM.  Un-fuckin'-real.

There are reports of some people sending transactions from Tornado Cash to many well-known ETH addresses, including those belonging to various exchanges, and to various celebrities. This is something that will probably cause many exchanges to rethink how they handle customers who have received transactions from illicit sources, and may even lead to litigation surrounding "taint".

Yeah, I actually heard that on some news program.  Smart of those ETH-rich troublemakers to do that, because involving celebrities is probably the most efficient way to expose all of this nonsense.

[Bitcoin_Arena]

Back to dydx:
https://twitter.com/AntonioMJuliano/status/1558088426926313472
Some people have really no shame, after blocking accounts how they are proclaiming they will fight against this till the last satoshi....

I have been following his Timeline and I don't know why that shameless guy is still spewing a shitload of nonsense. What a hypocrite.

I discovered that some of Tornado's mirror links are still online, but one may need to set up a custom RPC to be able to use the service as the predefined ones are now down

1. https://cloudflare-ipfs.com/ipns/tornadocash.eth - this one has a warning (You are using a public IPFS gateway. Tornado Cash dApp can not use all security features of your browser. Check out landing page for alternatives)
2. https://tornadocash.eth.link/
3. https://nova.tornadocash.eth.link (I think this was the new version of tornado before the drama)