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The Vanishing Act of Cryptocurrency Exchanges | by Fahad H Al-Rawahi | The Capital | Apr, 2025

May 6, 2025
in Altcoin
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A Private Journey

Picture by Mariia Shalabaieva on Unsplash

Within the ever-evolving world of cryptocurrency, few experiences are as harrowing as discovering that an alternate you trusted has vanished in a single day. As a passionate crypto fanatic, I discovered this lesson the exhausting means, and my journey is a cautionary story for anybody navigating the digital asset panorama.

My Introduction to Crypto Exchanges

Like many, my preliminary foray into cryptocurrency started with pleasure and curiosity. I opened accounts on a number of exchanges, keen to purchase and commerce Bitcoin, Ethereum, and different altcoins. I felt invincible, buying and selling from my smartphone, satisfied that I used to be a part of a monetary revolution. Nonetheless, this pleasure quickly was nervousness.

The Disappearing Act

I vividly bear in mind the day I logged into my account on a preferred alternate, solely to discover a message stating that the positioning was present process upkeep. Days was weeks, and the updates grew to become scarce. Ultimately, the alternate ceased all communication, and my belongings had been locked away indefinitely. This wasn’t simply my story; many skilled the identical destiny with exchanges like Mt. Gox and Cryptopia.

Mt. Gox: As soon as the most important Bitcoin alternate, it filed for chapter in 2014 after shedding…



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