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?
And why would you go for such an exchange since you already what will be the outcome. Some of them are scammers that wants to get a lot of people to trust them and when they have gotten a lot of money deposited into their hands, they will just take the exit. Sometimes its best to stick to the old exchangers than going for new exchanges.