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197 exchanges collapsed in the last bull run. Will the next be any different?

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by COINS NEWS 52 Views

197 exchanges collapsed in the last bull run. Will the next be any different?

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

https://preview.redd.it/zhfyslx0o87b1.png?1920&format=png&auto=webp&s=7e1ebf2ada96417509f23774a5fd8fadb00d14c1

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/

https://tokensniffer.com/

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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