Post
Topic
Board Bitcoin Discussion
Re: 6000 coinbase clients hacked
by
gabbie2010
on 04/10/2021, 06:17:43 UTC
Another example why using central exchanges is risky. The hackers knew private data of the users. One corrupt employee or one successful hack and bad guys capture your email, home address, phone number and sell it to local criminals who might knock on your door then best encrypted wallets are useless. Cryptocurrencies are designed for peer to peer usage. If you change it into peer to bank to peer then this adds some risks.

https://www.reuters.com/business/finance/coinbase-says-hackers-stole-cryptocurrency-least-6000-customers-2021-10-01/
I absolutely agreed that an insider is directly or indirectly involved in what lead to the hacked wallets of coinbase users, it has become glaring that centralized exchanges can never be reliable and trusted in storing coins, past hacking events related to CEX has proven that reliability of those type of exchanges is very risky, because some of their scrupulous employee who can never to trusted will surely compromised, I think experienced crypto enthusiast knows the implications of hodling their coins in CEX exchanges it's up to every newbie to research on ways of securing their coins too.