In this video, I report on the latest exchange "Bitsane" to run away with people's cryptocurrency without comment or warning.
It has become a far too common problem in the crypto space for people to lose some or all of their money to an exchange exit scam. Far too many blame cryptocurrency itself when they should blame the exchange involved. Everyone remembers MT Gox and recently we've seen the loss of funds from Canadian exchange Quadriga CX, but this is nothing new. A few hundred exchanges have been the subject of criticism over the years for the same reasons, perhaps just not at the same scale.
Many millions of dollars have been lost from Bitsane and they are not returning requests for comment. But this should be yet another lesson to people to keep their crypto safe by keeping it in a hard wallet! Exchanges are generally not safe. They're useful for the market over all and helps drive price and adoption, but they're heavily centralized and very much like the banks people are trying to escape by getting into cryptocurrency in the first place!
