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?
Some of the reasons I think about are because they don't get a lot of customers to be able to run their business and inevitably to cover losses, they have to close the exchanger by running away with customer funds that are already in their hands and many sites that are in different fields do the same thing to benefit as long as they develop the site, but I hear one site that you mentioned it opened the dev identity and where they did business.