A crypto exchange MapleChange, pulls out of the crypto markets stating that they do not have enough funds on them to pay anyone back. This leaves the users with absolutely nothing as the exchanges shuts down eating up all of their prior inputs. The crypto enthusiast and analyst, Joseph Young condemns the action stating that the exchange is a fraud and has openly displayed their hideous doing of going away with the customer cash. The exchange went silence announcing that their social media and every other department will be shutting down for good now that their fundings have gone down the drain. There statement was far from being any near to vague but they did not attach any reasons to what exactly caused their downfall igniting numerous theories. BlockPublisher swayed a swift strike to obtain some words over the matter and the statement did in turn, hit a sharp blow to the accused fraudulent exchange.
Smaller exchanges surface up only with one agenda in mind, to extract maximum profit out of their scamming venture. There is no extra incentive in using a smaller exchange actually, but what it does is drag you down with it. Security and transparency are not an option for such exchanges at all.
MapleChange has not yet been deemed fraudulent by any authority for it is most possible that the damage is real and the exchange suffered major loss enough to shut their operations down, reducing the company to a significant minimum. This is another major blow to the crypto markets as this proves the point that the crypto markets need more maturation to eventually be officially operated as a currency. Though people have their own views over this discourse too, this MapleChange situation sure is a blow to the cryptos.
Josephy Young talks in favour of the users who put their trust with the exchange to begin with, now returning empty handed. He explains that there is no extra topping over the cake in case you partake in the smaller exchange trades. This can only lead you astray eventually facing off the reality that it was only making money these exchanges cared for, the most. People must back off from such crisis inducing platforms that cause nothing but straight havoc.
MapleChange are supposed to come up with a better farewell plan for the customers so as to cater for them the right and also to influence over the incumbent authorities into getting them under full trust that cryptos are more practical than the fiats. The regulating authorities keep a strict check over the cryptos regardless of the current financial structure being in constant need of revamping from the roots. The crypto platform though with major flaws and issues can suit us for the time being as it can lure in investor once official, who can put money into researching ways to turn the platform better as each day passes by.