Does everyone remember the story of QuadrigaCX's founder, who was claimed to be the only person in control of the exchange's cold wallet, died in India on December, 2018? There are new stories surfacing that the people left running the exchange are using the founder's death to exit scam.
We might begin witnessing more small exchanges doing exit scams if the bear market extends out longer.
Also, do not trade in small and unknown exchanges.
this is a really important point many folks don't realize. when the bull market is raging, exchanges---even fractional reserve ones---can keep riding the gravy train. it's during the bear market that we see who's been swimming naked, so to speak.
i've been quietly expecting some events like cryptopia and quadriga to unfold for a while now, particularly after the crash from $6k. this is the most brutal part of the bear cycle. volumes and revenues are dead, hype is long gone, overheads are bleeding businesses dry. all of a sudden, getting "hacked" and closing up shop starts to look a lot more tempting.