Post
Topic
Board Bitcoin Discussion
Re: 6000 coinbase clients hacked
by
Shenzou
on 06/10/2021, 23:59:27 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/
Well to be honest using centralized exchanges and keeping some huge amount of your investment on it is a stupid idea, and any traders should be knowing that high funds are always at risk and his data is exposed if he is using an online, and to honest hacks are bound to happen one way or another and they are always done by some form of human error and there will always be some loophole in the security that somonesomwhere in the world will use it, so it is better to have control over your own funds rather keeping it in the hands of others.