You think this is bad. Check out the situation with @WEXnz .
A small crypto exchange pulled off an exit scam, taking all customer funds. There is no incentive for using small exchanges. Use established exchanges that are regulated, & transparent. Small exchanges also focus on maximizing profitability, not security or investor protectionpic.twitter.com/iKEO8rDv5z
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There are several cases like this, hence why I said use established exchanges and just prevent from using any small exchange that is not established.
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I know mate, I agree with you. Honestly just trying to bring some light to what is happening with Wex. Seemed like a good chance to get your attention. :)
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Also another interesting twist. Wex cold wallets are moving funds through
@binance . Meaning Binance is potentially help launder millions of dollars worth of stolens funds from Wex users. We have proof too.@cz_binance -
Would you call that "help launder"? I mean, if I have an illegal picture on my phone would you say Apple is "helping" me because I use their device to receive it and or to spread it around? Personally I would change that to: "They are laundering........through
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Your right brother binance it's just a tool...
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It's a tool that allows them to launder 2BTC per day completely under the radar.
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If a crazy guy killed someone and use his Toyota to transport the body so that means that you can blame Toyota because it was used to transport the body.
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Not your keys, not your coins.
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Or better yet, we could start using trustless, non-custodial exchanges where users control their own $$ at all timeshttps://www.blocknet.co/block-dx/
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While your argument is sound, this is a centralisation pressure.
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I would say better 100s of small exchange burning than a very big one. It decrease systemic risk.
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they exit scammed and got away with an entire $50.53
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New coins have hard time to get listed on well established exchanges, so these small exchanges are only way to get out there.
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Exactly.. Theses exit scams impact smaller projects and they end up exacerbating the moat effect which is already keeping new projects out of the mainstream.
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HitBTC is not a small exchange but feels like it's run by three people and one of those guys' mom did the UI.
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This is why we need
@The_Blocknet - End of conversation
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Oh god, they're stopping their social media!?
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