Don't get me wrong. CDC is probably a fair bit better than your typical unregulated exchange due to US regulations and the like but they are far from the best. Let me validate my statement about their inconsistency.
- There was the infamous event pertaining to card rewards where users had locked up funds in CRO for months, sometimes longer, in return for rewards they would earn for using their CDC card. However, CDC randomly decided to reduce card rewards, leaving all the users sort of holding the bag, especially as CRO's price wasn't doing very well at that time.
- There was also the other infamous situation where CDC "mistakenly" sent 10 Million AUD(7 Million USD) to a Aussie woman and only realised their "mistake" 7 months later, long after she'd absconded with the money having bought a mansion and other luxuries. They absolutely threw the book at her even though it was pretty much their fault. The best part was that the mistake was due to a spreadsheet error, from a multi-billion dollar company. Even more disappointingly was that staff layoff seen during that period may have been a direct result of these potential losses.
- Somewhat less fair a argument is perhaps the 'fortune favours the brave' Matt Damon ads incident where users who may have been roped in by these ads would have seen their investment fall up to 30% in the months after. More fair however are arguments that CDC functions more as a sponsorship company than a crypto exchange whereby they spend tons on advertising from ads to the arena to the UFC and customers are second priority.
- There is also the incident where following the USDC depegging, CDC was charging a 1.5% fee for USDC to USD conversions and there was absolutely no notice of this fee anywhere in their press releases/information.
- CDC also is well known for their high spreads.
Which brings us to today, where tons of users are complain of no reply from support for weeks, some even for months. This is a pretty extreme situation because if there was one thing defined by CDC is was their best-in-class customer service. The best you can receive, if anything at all, is a cookie cutter copy-paste general reply that basically says we're sorry and try submitting your issue again. On top of this, the app also malfunctions presumably due to server overload as well as the CDC API(basically for developing bots/automated trading) being wildly erratic and undependable as for the websockets sometimes updates are sent while others nothing is sent at all. You can easily join the CDC telegram and view all the complaints for yourself.
[Names removed for privacy]
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