Does anyone have any insight on how crypto exchanges deal with forked versions of cryptocurrencies? I've been wondering about this because of all the different forks popping up, and it's kind of hard for me to wrap my head around. Like, do they just accept all versions or is there a process to follow? Do they choose which fork to support or does it depend on each individual coin? Also, what happens to those who were holding the original coin? Do they automatically own the forked version too? Any thoughts or experiences on this would be greatly appreciated.
I totally agree, and it's worth mentioning that the handling of cryptocurrency forks may also include considerable risk for the exchanges. In addition to technical integration issues, the forked coin's potential stability and any legal issues it might raise can also come into play. After all, if a forked coin ends up being associated with shady dealings, the exchange that supports it could face both reputational damage and legal consequences.
That's a really good point about legal and reputational risks. I'm wondering now, how do crypto exchanges mitigate such risks? Do they have modus operandi or certain policies in place to deal with these types of situations? And what about the users? How would they know if the exchange has their back especially when it comes to these forked versions? I'm curious to know if there are any measures taken to ensure user trust or any specific criteria for coin listing in such circumstances.
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