Post
Topic
Board Altcoin Discussion
Re: Do you trust centralized exchanges?
by
xianbits
on 05/05/2021, 14:44:40 UTC
I think you heard the last news about the Turkish stock exchange:
https://decrypt.co/68703/billion-dollar-rug-pull-turkish-bitcoin-exchange-goes-dark
Customers fear a rug pull as Turkish crypto exchange Thodex abruptly halted trading.
At any time, money can be blocked for an unknown time.
Recently, I have not been trading on centralized exchanges and have kept as much money there as it’s not a pity to lose
I'm a victim of hacking before. It was on my DEX wallet. There's no one I can ask for help, so I didn't have the chance to get back my money. And just last year, Kucoin was hacked by some skilled hackers, unfortunately, one of held coins were also affected. They suspended the deposit and withdrawals of all the coins affected, then no money was taken from me on that incident because of Kucoin's quick response.
I trust CEX, what I don't trust is your CEX. If you want to feel safe, trade on very popular CEXes and be wary on those newly developed ones.