What happens to my locked ETH 2.0 if the CEX "dies"/bankrupts/ceases to exist?

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by COINS NEWS 23 Views

So basically the title. I have a non-negliglible amount of ETH staked (locked) as ETH 2.0 in a well known centralised exchange in order to reap that APY. As you may know, those ETH are locked until the merge and there is no way to "unstake" them or get them out of the exchange until then. I have made peace with that.

However...

What happens to my ETH if, let's say, that exchange becomes insolvent, goes bankrupt, gets hacked, all the staff members quit etc?

Is there any way to access those ETH or are they lost/locked/kept by the exchange forever?

EDIT: The exchange is Bitstamp. It offers ETH2.0/ETH conversion (for a 5% fee/loss). So you can guess what I did.

submitted by /u/dr_lux
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