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Big shock to the Bitcoin peer-to-peer community. AgoraDesk, one of the leading companies in this field and the publisher of LocalMonero, has announced that it will be closing down.
These are difficult times for privacy advocates.Samurai after the Tornado Cache incident
And Wasabi, it was AgoraDesk that announced its closure.
After nearly seven years of operation, due to a combination of internal and external factors, we have made the difficult decision to close our platform.
AgoraDesk is famous for making it easy to buy and sell Bitcoin peer-to-peer with no KYC. This is thanks to the matching process between buyers and sellers and the escrow process that ensures the safety of the transaction. AgoraDesk also manages LocalMonero, a website dedicated to the cryptocurrency Monero. Monero is notorious for its completely anonymous transactions, which has also been affected by closure announcements.
The statement did not give the exact reasons for this decision. We also do not know whether it is related to previous actions taken by authorities regarding Bitcoin anonymization solutions. It’s hard not to see the connection. Either way, there will be a lot of speculation.
However, this episode highlights the fact that solutions that are centralized in any way are vulnerable in the long run, despite all precautions taken. Only time will tell if competing platforms (HodlHodl, LocalCoinSwap, Peach, etc.) will suffer the same fate. In this context, choosing a 100% decentralized solution such as BISQ may be an alternative.
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Entrepreneurs working as information and residents in Africa. In uncertain and volatile conditions, consider Bitcoin and cryptocurrencies for the opportunity to face a safe event.
Disclaimer
The views, ideas and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Please do your own research before making any investment decisions.
