Re: SCAM EXCHANGE: Openchange (Openchange.cash) (PARTIALLY SOLVED)
Did I understand this correctly? Some obscure cryptocurrency exchange gives itself the right to confiscate the funds from their customers based of an analysis of some self-proclaimed blockchain (anti)analysts who, incidentally, have absolutely no legal weight whatsoever? It is unacceptable for the exchange to make such a decision and, more importantly, to retain control over customer's assets.
The only thing I think should be done in this case is to flag the Openchange.cash exchange as malicious and warn any traders away from it.
The only thing I think should be done in this case is to flag the Openchange.cash exchange as malicious and warn any traders away from it.
Yes you are pretty much spot on but there is confusion as to how they selected 10% as a figure they would confiscate in the event they believed they were dealing with stolen crypto.
Furthermore, there was no real meaningful justification given why they would return 90% of alleged stolen crypto however retain 10% for themselves. I mean, what could they say to justify it?
In the end, they are always used for evil: confiscating funds and keeping them for themselves; so it's a big elaborate thing to steal coins from users. There's no nice way to put it.