I woke up this morning to a red crypto market. I mean... really red, especially alts. Rektember finally arrived? No... this was different. It was an emotional response to something, it seemed.
So... I looked around. Canadian RCMP (part of law enforcement) seized 56m CAD (roughly 40m USD) from TradeOgre, a non-KYC platform.
Personally, I didn't know of TradeOgre until now, and thus, didn't use it. What I see is many emotional reactions coming after this seizure from the crypto side.
There is obviously a war on privacy, and crypto is fine as long as they don't hear about stuff like that. They need to know everything we (people in general) do, because... they need to know. Not your business, don't ask questions. They just need to know every thought you had, before you even had it. Not to mention actions... You are allowed to play house, go on vacations every once in a while (unless there is a lockdown), and work like a slave. Everything else is pretty much prohibited, unless you are selected or get really lucky.
Maybe that sounds too Orwellian, but if society hasn't gotten there yet in many places, it soon will. Maybe Orwell shouldn't have written 1984. He gave them a script to follow.
Back to the Canadian police, or whatever that is, and its crypto seizure.
Crypto-related voices say that RCMP said most people using TradeOgre are criminals. I have allergy to that word, particularly since I believe, like those vocal in crypto, that they are the criminals, and this is a theft.
Maybe there was some criminal activity going on at the cover of privacy on TradeOgre. Maybe a lot, I have no idea. Did they show any evidence? Nope, from what I read. Did they go targeted or conveniently assumed everyone using that exchange is a criminal? Everyone is a criminal: great detective work! Did they solve all the cases of money laundering with fiat going on through "legit" businesses, banks, cash, etc. that they needed to go a place which specifically didn't want to follow their KYC procedures? Nope. They wanted to send a message. You are an easy target and don't comply, you get rekt!
Let's remember Canada established precedents too, regarding crypto, at the truckers protests from a few years ago.
I said a have an "allergy" to the word "criminal". That is because I've been called "criminal" in passing (collectively, with many others), by law enforcement or prosecutors south of the border from the Canadians, when a digital payment website was closed, many years ago. I lost some money then, because the owners of that platform were crooks, or at least that's what the news said. Guess what? I wasn't a crook. I was only a user who only had that platform to use as a payment option on many websites. But hey, it's easy to generalize, isn't it? Particularly when you don't expect a fight back.
Since I'm writing this post on Inleo, I want to close with this screenshot:
Notice the green LEO? It would be nice if it were Inleo's LEO, but it isn't, even if Inleo's LEO is doing well. The problem I'm seeing here is that someone unfamiliar to the Hive or Thorchain or Arbitrum ecosystems and who sees it promoted, may mistake the two tokens, and buy the other one.
It happened and maybe still does for the name of Hive, where there is a crypto mining company that was called Hive Blockchain, or something like that (changed its name now, but still includes Hive in the name).