One of the most disheartening things we see at Casa is new clients onboarding who tell us they have lots of BTC in an exchange that they want to withdraw to self custody.
Then as we're working with them it becomes obvious that the "exchange" they used is a scam that will never actually honor their withdrawal requests.
That hurts …
Lots of money but with a barely known CEX? These guys' DD is non-existant. I wonder how they got the money for those many bitcoins.
This scares the shit out of me
that's a hard place to be
Yes
does this happen frequently? ouch.
About a year ago a gal I used to work with (and eventually orange pilled) contacted me and wanted to ‘share an opportunity’ because she was making huge bank with a bitcoin thing. So we meet for breakfast and she shows me a front page of some ‘cloud mining’ thing on her phone… ostensibly operating in the UK. Right, mining in the UK. She’s staking her corn and now has multiple BTC worth of ‘gains’ and is plowing it all back into mining contracts. I’m skeptical and when I suggest it looks like a Ponzi she gets kind of defensive. I begged her to at least get her original stake back into her control. She later said she did that, but it’s been a while, and I haven’t heard from her. I got a bad feeling she may have been rugged. I don’t recall the name of that outfit at the moment. So many people want to play risky catch-up games and aren’t content to simply hodl150% yearly gains.
Trust me, it's not a disheartening as a bunch of arrogant devs sabotaging bitclin for personal gain.
Now can you see the power of making a coin so private that the state pushes people into self-custody like it happened with Monero.
Interesting you don't mention if that happens with Ethereum shitcoin too?
Oh damn, another reason to keep the sound money protocol simple so that people won't go chasing scams.
Actually, they come to us for help after they've tried every possible way to withdraw. The pretense that they want to become our customers is just a thinly veiled lie in the hope that we're able to "hack" this "exchange" and recover their bitcoins.
Name and shame that scams!!
Oof.
Very rough
Not your keys, not your coins.
Self-custody is the #bitcoining way
🔑🍊⚡️
