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.
If they will be caught then they could easily tell the authorities that they were a victim of hackers that they are not the one who steal the people assets but the hacker themselves do the job like the other exchanges common reason. The main reason of this stealing is of course to steal the money that we should not trust exchanges of keeping our assets to their wallets so hopefully this will serve warning to the other crypto users out there.
Usually in most cases, that is something that basically could happen, but does not mean they will have to suffer for it since they will have to explain why they never followed standard safety protocols when it comes to the safety of assets. Also, let's just assume from the onset they have been using their real faces online, and not just some random faces.
It is nothing new, as we have seen it in most ICO projects before and these days, some people don't even tend to verify the faces behind the small exchanges they are even using, and being a small exchange with no reputation, I still wonder why people tend to find themselves in these shoes of using them. Most times, I feel people who are gullible enough are always the cause of their own problems honestly.