It happens to the best
Gatecoin ceases operation, allegedly scammed by payment provider
Gatecoin, the well know crypto exchange operating out of Hong Kong and providing good service and pricing to their customers has ceased operations with a statement on their website this morning
The exchange has allegedly become the victim of a regulated French payment provider which embezzled their client funds.
Once again negative news hits the crypto community just in the light of growing wallet numbers, increasing crypto transactions and crypto transactions back to fiat currencies becoming more part of day to day financial transactions.
The Gatecoin story in itself is a sad example where a proper player takes the downfall for a poor service from an affiliate that even operates in a regulated environment.
Once again it is all about choosing the right suppliers and keeping the processes short and transparent. This is why Crypto2cash came to market late last year to take all the unnecessary hurdles away in selling crypto for fiat currencies
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