Crypto Bridge exchange shutting down
Crypto Bridge, a popular decentralized exchange has announced that it will soon be shut down. Crypto Bridge runs on bitshares platform which is quite popular among decentralized exchanges. We think its downfall started the day it enforced KYC for doing withdrawals.
Crypto Bridge last day for withdrawals
All services and servers will cease to work after December 15 and deposits will be closed after December 3 23:59 GMT with withdrawals following after December 15 23:59 GMT.
In other words, you have very little time to get KYC done and get your funds out.
Say good-bye to my 500 sats stuck there.
One of my favorite exchange scams was theirs.
I had to buy some $BTS scam token to pay fees on a masternode scam coin $APER.
Double kill…for them anyway pic.twitter.com/5I7VcubKkV
— Clod (@Crypto_Clod) December 2, 2019
Also, it is a bad day for BTS token holders which was native token of Crypto Bridge.
Basically saying “we stole your funds and there ia nothing you can do” and “send us your id and all so we can steal you identity in the future”.
— TheFrog (@frogoland) December 2, 2019
This was also a preferred exchange for many projects that didn’t have enough funds for listing on a big exchange like binance and huobi.
Many saw it coming
Many users actually saw this coming the day they announced that they will need you to do KYC for withdrawals which was odd for a decentralized crypto currency exchange. Many decentralized exchanges like stellarport, Idex need KYC for certain withdrawals.
It was the best of times… It was the worst of times… it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair…
Glad I got out and didn’t KYC— Adam W (@BradentonSEO) December 2, 2019
For instance, want to do BTC or ETH withdrawal on Stellarport? Guess you would have to undergo whole KYC process.