Post
Topic
Board Bitcoin Discussion
Re: My friend got arrested in a p2p scam
by
BTCtester.com
on 15/09/2021, 18:03:09 UTC
There are major risks using central exchanges:
  • They might block withdrawal
  • They get hacked and your deposits are gone
  • Their client database is hacked or a corrupt employee sells it. Then it's sold in the darknet to local criminals which knock on your door to get your coins
  • your coins are trackable, so this is a privacy concern

So decentral peer to peer exchanges might be the better choice: Your keys, your bitcoin!