Opinion: Will CryptoBridge turn out to be yet another exchange scam?

There is no doubt that bitcoin and other blockchain based crypto-currencies are one of the most advanced and emerging technologies of our times, but its also equally true that the history of crypto-currencies will be smeared with a lot of scams, scandals and tragedies!

People have hardly recovered from the Bitgrail scam of last year and now they are sensing yet another exchange which seems ready to pounce and run away with their hard earned monies. Its hard to believe that despite all the megatons of scams that keep happening in bitcoin exchanges, people still trust them enough to put their valuable money even in 2019!

So, CryptoBridge has apparently closed their twitter and other social media handles and sent this below notice to all their users. They have given users time until 15th December for withdrawing their money which is fair enough but the dodgy thing here is the condition they have placed:

Please note that verification is required by EU law for all withdrawals.

So, only verified users will be able to withdraw and they are banking on the fact that by the time most users verify themselves, they'll simply flee with their money. This is just the classic case of yet another Bitgrail type exchange going down due to lapse accounting and/or added pressure of falling bitcoin price. Its hardly a coincidence that this comes at a time when the bitcoin price has fallen to substantial levels.