Conor Grogan: Closed Etherdelta Exchange Holds $42M in Customer Assets

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The director of the largest American crypto exchange Coinbase provided new data on the assets of the defunct decentralized trading platform Etherdelta.

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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:

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“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.”

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director of Coinbase cited as an example a number of addresses where cryptocurrency remains, adding that assets can be withdrawn.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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