Review on Escodex by Stephen Toluwani
The Exchange doesn't work anymore
The Escodex exchange, an Estonian based crypto exchange with some kind of disparities in the information provided about the exchange in which it is being debuted as a centralised exchange and in other occasion, decentralised but without a single Blockchain support like Ethereum or Tron. After the exchange announced that it was closing down in 2019, it is still surprising to see that it's website which should be down, is still operational. The way I see this, hackers are trying to reroute the exchange link to their own domain and scam traders. My reasons for pointing that out is the exchange was debuted as a centralised exchange before it finally went offline. Now, it parades itself as a decentralised exchange which can be used to directly trade Bitcoin alongside other Altcoins like Ethereum and USDT. I take this to be a red flag as thethe Bitcoin they most likely Support is the mainnet one not a layered Bitcoin on the Ethereum Blockchain. To further validate my allegations, the exchange parades an Escrow service. What other way will one trade their coins which in the normal sense are not compatible on the same chain and smart contracts cannot get to read them. Thus, the need for an Escrow service. I would advice no one to try using this exchange as they might still work on it to begin scamming people as the main developers has abandoned the exchange due to some unforseen circumstances.
Pros
- The exchange gave a warning about a foreclosure to enable traders take their funds out in time
Cons
- It seems the exchange site has been hacked and rerouted by scammers
