At Least 75 Exchanges and 2, 000 Coins have Closed Down So Far – Only a Few are African-based

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According to the latest statistics, at least 75 exchanges have so far closed shop and about 2, 000 coins and tokens have similarly disappeared from the crypto space.

The data, collected from the Crypto Wisser Exchange Graveyard list, shows interesting statistics as to the cause of death below:

  • 31 – Voluntary Shutdown
  • 34 – MIA (Just Disappeared) –
  • 5 – Scam
  • 2 – Government Shutdown
  • 2 – Hacked

SEE ALSO75% of Crypto Exchanges in Africa with Porous KYC are Registered in Seychelles, Says Latest CipherTrace 2020 Report

Some notable African exchanges on the list include:

  • BitBegin (Nigeria) – MIA
  • BitHash (Seychelles) – MIA

Looking at the dead coins so far in 2020, it looks like the majority are either scams or just deceased, likely after having no real use case of value. Some of the African coins on the list include:

  • Zynecoin (ZYN) – Scam
  • Buxcoin – Scam

 

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