If you have any coins stored on trading platform mcxNOW, you’d better withdraw them soon.
The site has posted a message warning of an upcoming maintenance period. The site is suffering from some security issues involving their wallets, and they’re scrapping them all in order to make way for a new system.
As a result, you’ll need to pull your coins off of their platform by November 15th. If you don’t, the results aren’t pretty.
“Any coins left in mcxNOW at the cutoff point will be destroyed,” the site’s statement reads. “Existing wallets and all backups are going to be shredded to maintain privacy of users.”
A Controversial Move
It isn’t clear why mcxNOW would take such a drastic action. Those won don’t get the memo, though, will certainly be angry when they show up in December to check their balances and discover their wallet has been emptied.
McxNOW has a decent volume, trading over 9BTC daily. Hopefully the owners of those bitcoins read this article…
A Sign Of Instability?
The cryptocurrency community has been rocked by instability lately, as platform after platform collapses as a result of security issues, poor leadership, or outright scammery.
Moolah, the Dogecoin community fixture, has been collapsing amid allegations that its CEO Alex Green is actually well-known internet scammer Ryan Humble, who also goes by Ryan Gentle, Ryan Kennedy, Lemon, and several other aliases.
Green himself denies the charges, claiming poor management as being the culprit rather than wrongdoing, but for the most part his name is already damaged beyong repair.
In Moolah’s wake, MintPal has also been dragged down, in an event Dogecoin founder Jackson Palmer has called “The New Mt. Gox“. Moolah was to take over MintPal’s operations, and potentially own it as well, though the details behind that are unclear.
Bitcoin Trader, an arbitrage and high-yield investment platform, has also collapsed under suspicious circumstances. After several months of requests for them to prove they held the bitcoins they claimed they did, its owners claim it was hacked just as they transferred their funds into their hot wallet so they could prove their solvency.
Shortly after the alleged hack, Bitcoin Trader’s social media accounts were shut down.
Is mcxNOW’s action necessarily a dishonest or scam-oriented one? Maybe not, but the Bitcoin community is on such a hyper-vigilant scam watch that mcxNOW’s actions will certainly raise more than a few red flags.
mcxNOW Will Destroy Your Coins On November 15th
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