Post
Topic
Board Trading Discussion
Re: Why I will never trust top exchanges
by
justdimin
on 17/02/2023, 21:50:40 UTC
As for the auditors, they don't even know how to audit in the first place, or is it right to say that exchanges just know how to get smarter than auditors?

Anyway, it's easier for them to meddle with users funds and do what they feel like, FTX Sam was caught doesn't mean he is the only bad actor, others aren't pure as well.

No matter what you plan to do on centralised exchanges, do not trust them.
I have to agree that audit companies may not be able to audit a crypto company that easily. The ones that has been in work with fiat for decades now, do not have the people who could check a crypto exchange and make a decision, and the ones which are in the crypto world are usually unknown and you wouldn't trust what they say neither. So all in all it turns out that we won't be getting any kind of good result for their audit, because there is nobody that can honestly do it.

Hopefully they will one day get a proper one, and we will get to read about it all over the internet, but it will not be anytime soon, will take a few years until there is a famous "crypto company auditing firm" type of deal.