197 exchanges collapsed in the last bull run. Will the next be any different?
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A bull run approaches. In the last bull run alone (2020-2021), 197 exchanges collapsed. Some of them due to hacks, while others “just disappeared”:
Source: The Exchange Graveyard
Cause of Death
Business Reasons: 40 Hacked: 9 MIA (Just Disappeared): 90 Rebranding: 30 Regulatory Reasons: 17 Scam: 11
Tokens have also come and gone, and those who were here remember the ever-promising projects that turned out to be a scam or a rug pull. I remember Celsius being shilled by everyone around, including the so-called influencers, and even those who are considered being somewhat reliable. It would be the next big thing, but something made me feel uncomfortable about sending my tokens there: not my keys.
As the next run approaches, many of such projects will appear. They’ll promise high returns in exchange for your keys. I urge you to please be careful on what you put your money. If you’re looking at an alt/shitcoin, there are some websites you can check the contracts:
https://gopluslabs.io/token-security/
Money is coming to the table and the hounds are soon to be out for a hunt. Don’t be an easy prey.
submitted by /u/reddito321
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