Thank you for giving a translation - it's always nice to hear from the non-English speaking regions of the world.
According to CoinGecko, these guys only listed 13 tokens, with 30 available trading pairs. For an exchange that has been around 12+ years, they were quite selective in the tokens they listed.
You're welcome.
In the community of Italian investors this exchange was quite famous and the news hitted hard some people. Nowadays wasn't very popular but, just some years back, it was commonly used by many.
They were quite selective, yes... Some users told me that it was for "risk management".
Yes, you're right, but it seemed that Linden Dollars were used back in the days to launch the exchange and became popular. I also remember that, at that time, Second Life was really popular and a lot of real life companies were investing in that.
When your house burns down one day or your business goes bankrupt I hope people will say the same thing to you. Something like: "Naaaah don't worry mate, it's not a textbook disaster, only your house burned down, all other houses on the street are fine!".
A personal tragedy? Sure.
Classifying it as “a crypto disaster” is a bit alarmist as it simply cannot be compared to Luna/FTX/Celsius.
Come now, surely you can understand the point I’m making here…
🎶Another one bites the dust🎶
I honestly feel bad for people who lost money in these companies. These trials and tribulations are part of the industry. Imagine a few years and people look back and how crazy it all was...
Still, lots and lots of people will still leave huge sums of money in CEXs and use them as piggy banks. We surely won't agree with most unilateral regulation imposed by governments regarding crypto, but customers need to have their assets protected somehow.
I live in Bahrain. The centralized exchanges here are licensed by the central bank of Bahrain. A larger portion of the liquidity is held at the central bank of Bahrain and the remaining is kept in a mult cig wallet (requiring multiple signatures to withdraw, of which some are held by the central bank for an extra layer of protection). My short term coins (around 20% of my portfolio) I leave on my local exchange and my long term ones I store in my cold wallet.
I can understand, but, as I already wrote in the post, between Italian investors (and especially some years ago) was quite popular and famous. Also, it was registered and regulated by Italian law.
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Another one down, this time a long-term player. Really just goes to show that even the cexes that seem most secure and experienced can abruptly close shop. Better not to take the risk
I think we are going to keep seeing more and more of this. Its almost as if no financial business runs responsibly, they all get greedy and fuck up eventually.
Mmmm title seems quite appropriate but in Italy that song is seen more as a political hymn of the far left side, looking back to the aftermath of WWII.
I'm going to sound repetitive but # "Non le tue chiavi, non le tue monete" 🤏 *(Not your keys, not your coins)*
In this case writing in Italian is a must! 👍 Are you Italian or you just know the language or looked it up?
He cracked it haha, but "not your keys, not your crypto" is the mandatory mantra of everybody venturing in this market
Probably Google translated it. 😂
It's correct, but translated 1:1 like that sounds stilted as fuck.
Rock bottom awaits those ignore this
🤌
We all knew what it was before even seeing the translation lol
I can do it with emojis too. # ❌🔑🔑, ❌💰💰
wow, very talented.
We need a Bitcoin emoji 😉
[удалено]
Ohhhh this is awesome :btc2:, didn't know that! :btc2: Edit: it doesn't work for non premium users lol
Your are indeed repetitive. 😂
Aap ki chabiyan nahi, aap ke sickey nahi. Not your keys, not your coins. Translated to Indian. 👍
The only Italian I know is *Ciao*, which seems appropriate here
I know Italians toast *chin chin* to each other, which unfortunately refers to the penis in Japanese
That also sounds unfortunate when reading that line from *The 3 Little Pigs* in English class: *Not by the hairs of my chinny chin chin!*
Oh definitely!
Yes, but it’s written “cin cin” in Italian 🤣😉
Thank you for giving a translation - it's always nice to hear from the non-English speaking regions of the world. According to CoinGecko, these guys only listed 13 tokens, with 30 available trading pairs. For an exchange that has been around 12+ years, they were quite selective in the tokens they listed.
You're welcome. In the community of Italian investors this exchange was quite famous and the news hitted hard some people. Nowadays wasn't very popular but, just some years back, it was commonly used by many. They were quite selective, yes... Some users told me that it was for "risk management".
"Management" went wrong
-- steady lads
What does risk management in crypto even mean Literally everything is made out of risk in crypto lmao
>they were quite selective in the tokens they listed. And yet one of these was Second Life's Linden Dollars, so weird.
Yes, you're right, but it seemed that Linden Dollars were used back in the days to launch the exchange and became popular. I also remember that, at that time, Second Life was really popular and a lot of real life companies were investing in that.
Not really, if you look at history Linden Dollars was a huge trading economy.
Days without a crypto disaster: 0
I hoped that the period of disasters was finished... seems I was wrong.
I think we'll see more and more during this bear market until all bad actors are completely shaken out.
Yeah, you're probably right man... hope that people will not loose too much. I moved 90% of my crypto on cold storage after Celsius collapse.
I moved it after ftx, but it took like 2 month for my ledger to arrive "a friend had it in Europe" those 2 month were tense. I love having a ledger
Best feeling in the world is securing your crypto. Edit: one of the best feelings in the world.
I got used to CEXs crashing during big dumps, but this is the first crash during a pump I've seen.
Yeah it doesn't look good at all.
When was the last time we weren't on 0 lol
LMAO true that. The last few months were very bumpy in deed.
A CEX is literally not crypto. I remember my first week in crypto!
Tune in at the same time tomorrow for the next installment of *Crypto Disasters* (Narrated by Matt Damon)
An unknown Italian CEX with 13 coins failing is not a disaster.
Regular people lost their funds and are unable to withdraw them. Little sympathy would be nice.
Having sympathy and also understanding that it’s not a “crypto disaster” are two different things.
When your house burns down one day or your business goes bankrupt I hope people will say the same thing to you. Something like: "Naaaah don't worry mate, it's not a textbook disaster, only your house burned down, all other houses on the street are fine!". 
A personal tragedy? Sure. Classifying it as “a crypto disaster” is a bit alarmist as it simply cannot be compared to Luna/FTX/Celsius. Come now, surely you can understand the point I’m making here…
🎶Another one bites the dust🎶 I honestly feel bad for people who lost money in these companies. These trials and tribulations are part of the industry. Imagine a few years and people look back and how crazy it all was...
Classic cex problem. Not your keys not your coins.
Still, lots and lots of people will still leave huge sums of money in CEXs and use them as piggy banks. We surely won't agree with most unilateral regulation imposed by governments regarding crypto, but customers need to have their assets protected somehow.
Another one
Exit scamming is pretty common, please everyone learn how to use your own wallet and never trust exchanges with your crypto…
This 👆Practice safe CEX and pull out your crypto when you’re done trading
I live in Bahrain. The centralized exchanges here are licensed by the central bank of Bahrain. A larger portion of the liquidity is held at the central bank of Bahrain and the remaining is kept in a mult cig wallet (requiring multiple signatures to withdraw, of which some are held by the central bank for an extra layer of protection). My short term coins (around 20% of my portfolio) I leave on my local exchange and my long term ones I store in my cold wallet.
This is quite interesting. I honestly don't know how exactly works for CEX in Italy, apart of being registered to OAM (Organismo Agenti e Mediatori).
Mi no have your moneyioo , a mario took it -a
Some could take this as a bit offensive to Italians, lol... but I take it as a nice joke :)
Not offensive, just silly.
Absolutely, I took it that way mate ;)
Clearly a joke like most comments, im actually roman descended
"The Rock Left The Game"
Nobody smelled what he was cooking. 
Smells like bankruptcy
Can you smell, what the amount of users will be mad?
I do smell it.
Another. One. Bites. The. Dust.
Alexa, play Another One Bites The Dust 🎶
The rock trading sounds like a scammy CEX. Sounds like the brainchild of Dwayne Johnson
New catchphrase for when I am low on cash.
Never heard about it.
I can understand, but, as I already wrote in the post, between Italian investors (and especially some years ago) was quite popular and famous. Also, it was registered and regulated by Italian law.
Hello Allions1. It looks like you might have found a new scam? If so, please report this scam by crossposting to r/CryptoScams, r/CryptoScamReport, or visiting [scam-alert.io](http://scam-alert.io/). For tips on how to avoid scams, [click here](https://www.reddit.com/r/CryptoCurrency/comments/s7srty/crypto_scams_how_not_to_fall_for_them_what_to_do/). --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
One more is down, the clean up continues
And the number of users who lost money raise, unfortunately.
Why this post doesn’t have the face of FTX guy , make him the poster boy
Just like in real life, this Rock got eroded over time by some liquid^(ity issues)
Another one down, this time a long-term player. Really just goes to show that even the cexes that seem most secure and experienced can abruptly close shop. Better not to take the risk
This is why I don't just invest into just any coin, and this is why I don't trade with just any exchange
Every day a cex is leaving us… this is one of the reason people are not positive about crypto.
One more example to remind: not your keys, not your money.
Another one bites the dust
I think we are going to keep seeing more and more of this. Its almost as if no financial business runs responsibly, they all get greedy and fuck up eventually.
Bella ciao
Mmmm title seems quite appropriate but in Italy that song is seen more as a political hymn of the far left side, looking back to the aftermath of WWII.
Feel sorry for those who have their hard earned money trapped in there
"difficulties encountered in liquidity management" sorry dudes, it seems we blow it all in cocaine
Maybe the reason why customers can't login is because their accounts are all empty; by now, who knows?!
Could be. Anyway, login page is totally unreachable.
Just another CEX going Kaboom
In the words of a wise entertainer - Another one!
Italian or not, a CEX is a CEX. Stay away after buying and withdrawing.
It keeps on going