A major cryptocurrency exchange Coincheck has made a decision to remove Monero, Dash and ZCash due to ‘risks’.
This news came after exchange’s hack, when about 500 million NEM tokens were stolen from the company. The exchange has started the process of reimbursing their customers of any currency they have lost, despite the fact that virtual currency still not recovered. The latest decision to remove three of the more popular virtual currencies is just one of the latest erratic moves from Coinbase.
The reason of removing these cryptocurrencies is that all provide privacy and anonymity features. It was decided that all of them hold a big risk for the company due to potential money laundering.
Both Dash and ZCash are not actually anonymous, despite the removal and the worry from the exchange. Users of either of these currencies have been successfully identified, though they do both provide privacy features. The same we can’t say for Monero, which is one of the only completely anonymous coins on the market right now, causing it to gain attraction and popularity on the darknet. It is still unknown whether the reason of the removal is that letter. . It should be noted that users can still withdraw their money, although no further details have been released.
Other exchanges had not followed suit up until now, but it will be very interesting to see whether this remains like this for much longer, especially as anonymous coins are completely under the spotlight right now!