Quote from: o_e_l_e_o on April 11, 2020, 05:48:05 PM

Quote from: eulaellison on April 11, 2020, 08:24:34 AM

I thought there would be an exchange that would return the merchant's assets if the exchange wallet was hacked,

There are. For example, when Binance was hacked for 7,000 BTC, they used their profits over the coming months to refund all the affected users so no one lost any money. However, there have been plenty of exchanges which have been hacked (or claimed they were hacked and more likely exit scammed) and not refunded their users anything - MtGox losing 850,000 BTC is the most famous example, but there have been plenty of others such as Quadriga, Cryptopia, and BitGrail.

I am very surprised to hear the Binance Market can be hacked, I think the binance market is the market number 1 largest of the top 10 best crypto markets in coinmarketcap to be completely safe from hackers. apparently that's not true

Sir, if like this, is it true that the best and most popular markets do not guarantee the security of traders' assets stored in the crypto market

Quote from: o_e_l_e_o on April 11, 2020, 05:48:05 PM

Quote from: eulaellison on April 11, 2020, 08:24:34 AM

whether market profits are stored in different purses so that they can return a small amount of the assets of the trader

Depends on the exchange, and no two exchanges will have the exact same set up in terms of number or types of wallets or types of security. In general, most exchanges have one or more central hot wallets which customers deposit funds to, which consolidate all deposits together, and which pay out withdrawals. They will also have one or more cold wallets which will serve as longer term storage for the majority of their funds, and they will move funds between the hot and cold wallets as necessary.

oh like that, now I understand, and I don't have any more questions about this, thank you very much, sir