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I'm not positive on crypto in general, but they seem to have run of of their own money (capital) and not their customers' money. I.e. they didn't lose their cus
by atleta 4y ago
I'm not positive on crypto in general, but they seem to have run of of their own money (capital) and not their customers' money. I.e. they didn't lose their customers' coins. Actually, it seems that they have never held them anyway. So it's not like a bank crash.
The service seems to have been making it possible for people to sell their coins directly to one another. (Crypto exchanges hold your crypto and don't do an actual transaction through the block chain until you withdraw what you have. Though they could still guarantee not losing your coins if they go bankrupt...)
This is what they said about it:
> Are my funds safe?
> We don’t hold customer funds – at the time of the trade, we send the cryptocurrency directly to your wallet. If you need to execute a trade at this time, other platforms can facilitate this.