The director of the largest American crypto exchange Coinbase provided new data on the assets of the defunct decentralized trading platform Etherdelta.
Etherdelta was among the first decentralized trading platforms (DEX), having opened in 2016. Later, its activities were terminated due to the accusations brought against the founders of the platform by the US SEC.
However, according to Coinbase CEO Conor Grogan, Etherdelta smart contracts are still in operation. Moreover, Etherdelta has about $42 million of client assets left, and not all clients are aware of it:
“Etherdelta, one of the first DEXs, closed back in 2018 after the SEC took action against its creators, but smart contracts are still functioning. Today, they still have $42 million worth of assets in their hands, most of which people seem to have forgotten about.”
Etherdelta, one of the first “DEXs,” was launched way back in 2016. The front-end was shuttered in 2018 after the SEC cracked down on the founders, but the smart contracts still operate.
Today they still hold $42M in assets, most of which I think people simply forgot about pic.twitter.com/snmMzmuRFv
— Conor (@jconorgrogan) February 4, 2023
The director of Coinbase cited as an example a number of addresses where cryptocurrency remains, adding that assets can be withdrawn.
At one time, not only the American authorities had questions to Etherdelta. Chinese authorities in 2019 also accused the platform of fraud.
Source: Bits
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