Chaince, a classic crypto exchange with a focus on the EOS ecosystem, had soon drawn my attention, not only for their airdrop, and not the least for the announced possibility to stake CET tokens to withdraw EOS from the profit pool.
Look here for the articles i did on them:
https://steemit.com/eos/@conceptskip/chaince-airdrop-and-eos-centered-exchange
https://steemit.com/eos/@conceptskip/cet-chaince-tokens-how-staking-will-work
Now after the first weeks things seemed to have smoothened and they also got a warm recommendation from the @eosgo folks, so i decided to give it a try and did the kyc and make a test deposit of eth in order to buy a few eos (as binance has been suspended any eos transactiosn for over 2 weeks now).
The transfer from my exchange was pretty swift, and within a minute or so it was signaled a success on Etherscan. But on chaince no ETH deposit ever showed up. So i raised a ticket. After that quiet, in the meantime, they disabled my 2FA, and since then i have been locked out from my account. Then after another mail i got this as a response:
If you are somewhat familiar with how exchanges work, you realize how ridiculous this is, as more or less every exchange uses smart contracts for eth transactions. So basically they are admitting, that they are not able to handle transactions from other exchanges. But read for yourself:
https://chaince.zendesk.com/hc/en-us/articles/360007038534-Important-Announcement-About-Smart-Contract-Transfer-
And then 20-30 days for making a refund? It's just incredible. Well my few bucks are stuck, i won't miss them but still, chaince is clearly not operational on a production level. And once again the huge spread between claim and actual features becomes evident, like so often in crypto.
I wondered if it was just me, but looking on they telegram channel, quite a few worrysome posts went up, and then i found this:
https://www.reddit.com/r/eos/comments/93yde8/chaince_exchange_bad_practice_warning_signs/
There just seem so many things not working, including the operation of their own exchange. Quite apparently, they can't handle it properly, and if they really ban users who write negative comments only increases the issue.