Post
Topic
Board Trading Discussion
Re: Can Bitfinex still be trusted?
by
RealMalatesta
on 12/09/2019, 05:11:18 UTC
While Bitfinex got hacked in the past and they definitely did some really shady stuff with Tether(USDT), I think we should treat all exchanges almost the same- with the assumption that they will be hacked someday. With that said, I'd probably trust Coinbase Pro or Kraken significantly more compared to Bitfinex, as I doubt the Tether controversy wouldn't be their last shady move yet. The move they did with the IEO just to have funds to back the Tethers was just something else.

therefore, all exchange are prone to hacker. And it can be hack anytime whether it is centralized of decentralized exchange platform.
But honestly, I never try to use bitfinex but I heard that it has a history of being hacked before, so it will be not safe for me or for sure
I will not be comfortable with if there was a background history which is bad. But this is just my opinion only.
As solid as binance is, they still got hacked, so that is not an excuse at all to judge those exchanges, I know that security should be number one, but it is not like they are not protecting their own system too, but there is no way that they can get it all right, which boils down to individuals, the security of our money is in our hands, first, people always advise against keeping money on exchange wallet, except maybe traders, and that is why some of them do have safu funds, because they know that it is impossible for a trader not to keep money on their platform, but what of those that are not traders and just long term holders and still keeping money on the exchanges platform, how do we justify those kind of people, do we still, say that exchanges are responsible for their security?