Quote from: Clement Kaliyar on April 06, 2021, 11:54:17 PM

Quote from: ~Money~ on April 05, 2021, 04:57:44 PM

There may be some issues with UPI payment with Indian Crypto exchanges in the last few days. But I still trust WazirX the most because it is backed by Binance. I am not saying that other crypto exchanges are fraud or anything but WazirX has Binance to back them. Even in 2019 when around 7000 BTC were stolen from Binance by hackers, no user suffered any loss.

The question will be how many times they can afford to loose that kind of money and still be in the market. We have seen many exchanges shutting their doors after major attacks and Binance is still there and how long they can afford to do that if they face another hack. So trust is momentary as it can change.

The site was upgrading their database and so was the reason they disabled withdrawals and the site was really slow daily trading volume has increased to $278 millions which is crazy.

I do agree that no exchange can afford that kind of loss again and again. But I think they would have definitely improved their security so that such incidents do not happen again. Moreover, I believe that other exchanges might not have beared such loss even 1 time. I am not promoting any exchange but I think they have proved themselves better than any other exchanges till now.