South Korean exchange PureBit Pulls Exit Scam, Takes Away 13,000 Ethereum (ETH)

PureBit, a new and small-scale South Korean exchange, closed completely over the weekend, exit-scamming with 13,000 Ethereum (ETH). Users noticed the exit, and later, South Korean Cryptocurrency & Blockchain News confirmed the event through Twitter:

https://twitter.com/BlockchainROK/status/1060840288489369600

The exit scam follows the sudden closing of an unrelated exchange, MapleChange in Canada, further underlining the dangers of storing funds on exchanges. However, access to small-scale, exotic assets has caused some users to prefer exchange wallets, instead of using multiple coin wallets.

In fact, the PureBit exchange had hardly started wor…

This article appeared first on Cryptovest

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Hayden P.

A blockchain and cryptocurrency enthusiast

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