Post
Topic
Board Altcoin Discussion
Re: Safeguarding funds , your funds on exchanges are safe?
by
tvplus006
on 06/11/2020, 22:46:55 UTC
Yes, Binance exchnage did that when they weren't big as this; right?, this can be opposite if something of such happen again which we don't pray for. The Binance exchnage then wasn't as much flooded as now, right now the biggest cryptocurrency exchnage so far is Binance and coinbase, these crypto exchanges are holding a very large number of coins which if anything happen it might be impossible to get back the funds. It will be safer to store your coins and tokens in a place you have total control and not your control, not your coins.

The last such case when Binance was hacked by hackers and 7,000 BTC was stolen occurred in may 2019. At the same time, a message appeared on the official website of the exchange that tall stolen funds will be returned to he victims from a specially created SAFU Fund: https://binance.zendesk.com/hc/en-us/articles/360028031711 I understand that Binance has increased the number of its users over the past year, but to say that in 2019 the exchange was small is wrong.