A small Canada-based crypto exchange called MapleChange and now the Pure Bit from South Korea has pulled off an exit scam, disappearing with user funds all in one month. The disappearance of MapleChange and Pure Bit with user funds has led experts in the sector to encourage crypto investors to prevent the utilization of minor exchanges with no reputation and cold wallets that accurately represent their holdings.
What is the motive behind all these minor exchanges, anyway?
But the question is, MapleChange or at least the people behind that exchanges can't hide because their real identify is all over the net. So as much as they wanted to exit scam, sooner or later they will be caught by the authorities. As for the motives, I can't say, the only thing I seen is that perhaps they don't have the funds to liquidate their customers so its better to hide and run from them.
It is sad to see these small exchanges ruining trust in cryptocurrency exchanges. They might have thought in certain point that they will never make money in such highly competitive market, and they didn't see any other way than fleeing to some distant islands in the middle of ocean (I am not trying to advocate their actions, just trying to understand their motivation).