Re: SCAM EXCHANGE: Openchange (Openchange.cash) (PARTIALLY SOLVED)
I could be wrong but to me it seems their justifications are pure nonsense which are designed to try to fool the user in to conceding 10% of their funds with a fear they could end up losing the other 90% if they contest what is going on.
I wonder what the "successful exchange" vs "we will return 90% to you but keep 10% for ourselves" ratio is for Open Change.
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?
They justify it with the screenshot from a random internet webpage. This webpage (AMLBot) is neither an internationally (or nationally) recognized authority, nor is it working with one and it may not even be an actual business. Since even with access to a lot of resources (like what the FBI / CIA has access to), it's extremely hard to (1) tie a certain UTXO to a crime and (2) return the funds to the legitimate owner, all these classification attempts are subjective guesstimations at best and deliberate choices to defraud users, with large potential for corruption, at worst.
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.
I wonder what the "successful exchange" vs "we will return 90% to you but keep 10% for ourselves" ratio is for Open Change.
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.