Conor Grogan: Closed Etherdelta Holds $42M in Customer Assets

Article Reading Time:
2 minutes.

The director of the largest American crypto exchange Coinbase provided new data on the assets of the decentralized trading platform Etherdelta, which has ceased to exist.

Etherdelta was among the first decentralized marketplaces (DEXs), opening back in 2016.Later, its activities were terminated due to accusations brought against the founders of the platform by the US SEC commission.

However, according to Coinbase CEO Conor Grogan, Etherdelta's smart contracts are still active.Moreover, Etherdelta still has about $42 million in customer assets, and not all customers are aware of:

"Etherdelta, one of the first DEXs, shut down back in 2018, after the SEC turned against its creators, however, smart contracts are still functioning.Today, they still have $42 million in assets in their hands, most of which people seem to have forgotten." 

</p>

Etherdelta, one of the first “DEXs,” was launched way back in 2016.The front-end was shuttered in 2018 after the SEC cracked down on the founders, but the smart contracts still operate.

Today they still hold $42M in assets, most of which I think people simply forgot about pic.twitter.com/snmMzmuRFv

— Conor (@jconorgrogan) February 4, 2023

The director of Coinbase gave an example of a number of addresses where cryptocurrency remains, adding that assets can be withdrawn.

At one time, not only the American authorities had questions for Etherdelta. Chinese authorities also accused the platform of fraud in 2019.