Post
Topic
Board Bitcoin Discussion
Re: PSA: Get your Bitcoin off any exchange supporting "BSV" (due to insolvency risk)
by
DaveF
on 14/10/2022, 11:46:29 UTC
The question is how long until we see posts like this about BSV:

...
Dear STEX Trader,

The developers changed the code (fork) of the SUM project. According to the new SUM coin code, all transactions do not exist in the block explorer. The STEX does not support the transition to the new code leading to the loss of blocks. Therefore, in case the SUM coin developers team provide us with the old node that supports all lost blocks then withdrawals on STEX will be enabled. Currently, the communication between us and SUM coin developers team does not bring a positive outcome.

Please note that these actions characterize SUM as an exit scam project. In order to protect our users, we’ve decided to start the delisting procedure and stop any support of SUM coin on STEX.

Project info: www.sumcoin.org

Medium: medium.com/@sumcoinindex

STEX Team

I can see exchanges keeping it on so long as there is trade volume and they are making money. I have said it before and will say it again, that is what exchanges try to do, make money.  As soon as they see a coin as a real threat to that it is tossed.

Even if it was known to be a scam at the beginning they will still list something if they think they can make money on the trading fees.

But, there is a tipping point, if they think they can be really hurt by it, it's tossed like yesterdays trash. After all, once you list a coin the hard work is done, you just have to sit there and take the fees, shutting it off is just about no work at all.

-Dave