The cryptocurrency market has once again witnessed the tragic "exit scam"! Tradeogre, a well-established exchange that has been a good choice for many users in the altcoin market for nearly a decade, suddenly stopped updating its Twitter in June this year, and by July, the website became inaccessible, leaving users with no way to seek help. Recently, a court document finally confirmed its "devastating" outcome: the relevant operational address of Tradeogre could not be found, and the plaintiff claimed to have had up to 70 BTC transactions stolen through phishing, amounting to as much as 353 BTC. This malicious collapse not only caused the evaporation of tens of millions of dollars in user assets but also sounded the alarm on the risks of non-KYC exchanges, becoming a painful lesson for the "crypto libertarians."
- The Malicious Collapse of the Established Exchange Tradeogre: Tens of Millions of Dollars in Assets Vanished
Sudden Disappearance: Tradeogre suddenly stopped updating its Twitter in June this year, and by July, the website became inaccessible, leaving users with no way to seek help.
Court Document Confirmation: A recent court document from New Jersey finally mentioned "Tradeogre," but the news was devastating, as the relevant operational address of Tradeogre could not be found.
Massive Losses: The plaintiff claimed to have had up to 70 BTC transactions stolen through phishing related to the exchange, amounting to 353 BTC. A long-time Tradeogre user, "Aaron," stated that Tradeogre may have absconded with tens of millions of dollars, as many users would transfer altcoins and leave small amounts or unexecuted balances due to poor liquidity, ultimately forgetting about them.
Shock Among OG Users: Aaron expressed shock at the collapse of Tradeogre, as among similar early non-KYC style exchanges, Tradeogre had been operational the longest and had not encountered many incidents, making it a reputable exchange.
- The Appeal and Risks of Tradeogre's "Crypto Libertarian" Model
Tradeogre's main selling point is that it does not require KYC (Know Your Customer), attracting a large number of "crypto libertarian" users.
Fast Listing and PoW Support: Aaron mentioned that Tradeogre's listing speed is the fastest in the network and is very supportive of PoW tokens. In the past three years, it has also kept up with the meme coin trend to maintain trading volume. Operating from 2017 to 2025, it attracted many "crypto libertarians."
High Risk and Low Transparency: Despite attracting a large number of users, Tradeogre's non-KYC operational model also brought high risks and low transparency. A discussion thread by influencer redpandamining mentioned that the company is suspected to be operated by Russians anonymously, and those involved in listing coins have indicated that they constantly change contact emails to operate. Therefore, it seems that the only way to trace this exchange now is through domain registrars like Google or Go Daddy.
- A Painful Lesson: How Can Users Protect Themselves?
The malicious collapse of Tradeogre serves as a reminder to users that risks are everywhere in the cryptocurrency market.
Understanding Risks: Although the global regulatory environment is changing significantly, users should understand the convenience and risks brought by using non-KYC exchanges and continuously keep transaction records.
Timely Withdrawals: The best strategy when using an exchange is to withdraw funds immediately after trading, rather than treating the exchange account as a long-term storage channel for assets, to avoid the risk of an exchange's malicious collapse.
The Necessity of KYC: Although some users believe that KYC restricts "crypto freedom," this incident shows that exchanges lacking KYC are more prone to malicious collapses and leave users with no recourse.
Conclusion:
The malicious collapse of the established exchange Tradeogre is yet another heartbreaking "exit scam" incident in the cryptocurrency market. The evaporation of tens of millions of dollars in user assets once again sounds the alarm on the risks of non-KYC exchanges, becoming a painful lesson for "crypto libertarians." This incident highlights the importance of self-protection for users in the cryptocurrency market, as well as the necessity of regulation and transparency for the healthy development of the industry.
Related Reading: UK Banks Tighten Control Over Crypto Payments, 40% of Users Report Recharge Obstacles
Original Article: “The Malicious Collapse of Established Exchange Tradeogre, Tens of Millions of Dollars in User Assets Vanish Without Warning”
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