Has Etherflyer exit-scammed?


Etherflyer was a semi-decentralized cryptocurrency exchange where you could trade Ethereum ERC-20 tokens. From past 3-4 months, the exchange has seems to have pulled a silent exit scammed, removing the exchange along delisting 100-something tokens that were traded there.

Right now, the website shows two links EtherFlyer on Github and link to Coinmarketcap. The representatives have not made any announcement on twitter if they are working on a new exchange under same branding.

And for the argument that EtherFlyer might be working on a brand-new exchange, well, their official github has not seen any activity after September 20th 2020. So, if they are actually working on a revamped cryptocurrency exchange, it is being developed in private.

Their twitter is mum about it and Coinmarketcap has delisted Etherflyer, tagging it as untracked exchange.  The exchange used to charge whopping 5 ether as listing fee back in 2019 and reduced it to 1 ether when coinmarketcap put it in untracked list of exchanges. Clearly, they were trying to grab as much ether as they could before pulling the exit scam.

So what about the tokens stored on the exchange? Since the exchange was semi-decentralized, it would be tough to get those funds out. Also, there is no documentation to fetch the funds that are stored on EtherFlyer’s smart contract.