Coinflex held Everyone in SmartBCH as an Hostage
Ever being held as an hostage, Yes we people of SmartBCH are taken hostage by Coinflex coz of recent dispute between two partier
Roger Ver and Mark lamb the CEO of Coinflex Exchange came ahead with a new controversy or blame game as of now no actual proof against each other but claiming to have one.
Seeing this whole drama i want to say this "Either die as a hero or live long enough to see yourself becoming a villain".
Now one of them will be known as a hero or one will be called as a villain in coming time but for now Coinflex is the Villain.
Coinflex held SmartBCH Treasury
In my recent article i told why Sha-Gate is important upgrade for SmartBCH coz BCH being held by Coinflex (centralised) and exactly after two day's we're now in a worst situation
Like hostage of Coinflex for literally no reason.
All of BCH locked in SmartBCH is held by Coinflex no one can withdraw it from SmartBCH also Coinflex know it's People money not someone like Roger.
Blame Game b/w Roger V Mark lamb
Everything was fine until Last day when Mark lamb claimed Roger owes Coinflex more like $47million in USDC
As you can see and on the other side Roger V saying
This is a false accusation and Coinflex owes him enough sum of money instead and both are seeking for the return of funds.
My POV is why would Roger even take a loan from Coinflex at first and than denying it? Ah doesn't make sense
Though mark Lamb claimed to have a written agreement but no proof at all but Coinflex paused all the withdrawals in exchange or SmartBCH
And rumors says maybe all Coinflex have left in their treasury is SBCH treasury.
Normal investors effected in this whole situation
Who's most effected in the current situation? We, people who are in SmartBCH, who held their money into Coinflex and their coins
Are going through a worst situation and in CEFI this is a normal thing but in DeFi it's not
What happened exactly after this new controversy?
BCH lost more than $300m market cap
Coinflex Coin down more than 80℅
FlexUSD lost it's peg
Coinflex Will get sue by SmartBCH
Coinflex lost all of flex or FlexUSD farms.
And yea both of the side's are effected but it will get worse for Coinflex when Roger Ver will be not proved guilty and same for SmartBCH or BCH if proved guilty.
We can't judge or make conclusion without enough transparency.
SmartBCH bailout plan with some BCH fans
Kui Wang came forward in this matter and SmartBCH tweeted this
We never thought own people will go against each other but now I'll love to see Coinflex getting sued in a legal way
It's our money and belongs to people so Coinflex should move funds to the new entity who have nothing to do with this drama.
FlexUSD and Flex Coin downfall
Mark thought BCH will be only thing effected after this drama but the truth us Flex Coin is -80℅ down and so called proud stablecoin FlexUSD lost -50% of it's peg
Coz of FlexUSD lost it's peg more than half of it's value i had lost much coz of being into a stablecoin
Not only FlexUSD but also Flex coin is down to 0.27$ only from the height of $3.
Farms of FlexUSD or flex coin removed from dexes in SmartBCH.
And not sure what future holds for SmartBCH or Coinflex but I'm sure people will fall in depression like I'm Right now
Since after seeing this whole drama i really can't sleep or have no peace left so i can feel what other people are going through coz I'm one of them.
Fin - 29/06/22.
For now i really want to hear Good news otherwise my End is near. I'm already broke from inside but still pretending everything is normal in real life.
Miracle happens and SmartBCH, BCH needed it badly. Let me know what you guys think about current scenario. Are you effected
And other than me who put all his eggs into one basket. I'm literally 90℅ down in BCH and same in SmartBCH but there's a hope and will always see the brighter side with difficultly there comes ease and all we need is patience in this hard time.
For now open Dex screener so you won't Get depressed with the current situation. When everyone is trying to tear you apart dex screener is giving us hope to survive
Though i need to find a job in coming day's will go for an interview in MacDonald again And it's not a Joke I'm serious in this matter now.
Need to focus on career and more serious instead of wasting time or my life believe me or not if i start writing my problems going through these day's you'll get depressed but it's life and we need to stay strong.
Why do I feel like everything is about to E.N.D? This is juat too saddening (｡•́︿•̀｡)