© Reuters Defunct Crypto DEX Etherdelta Still Holds $42M in Customer Assets
- Coinbase (NASDAQ:) director updated the community about a DEX that crashed with people’s assets.
- Etherdelta still holds $42 million in customers’ assets.
- In 2018, SEC charged Etherdelta’s founders for managing assets without registration.
Conor Grogan, a director at Coinbase, one of the leading crypto exchanges, updated the crypto community about a decentralized exchange (DEX) that phased out of the market with many people’s assets trapped inside.
The DEX was Etherdelta, one of the first exchanges launched in 2016, which, unfortunately, shut down due to the Securities and Exchange Commission (SEC)’s enforcement against its founders.
However, according to Grogan, Etherdelta’s smart contracts still operated. Interestingly, Etherdelta still holds $42 million in assets, most of which Grogan believes the owners have 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
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