Post
Topic
Board Beginners & Help
Re: Another reason and proof to keep funds in your wallet not in an exchange
by
Tiger420
on 13/09/2023, 07:57:27 UTC
Although this has not happen to our exchange where we put our funds for a long time, this should prove that its not safe to be there for months or years, you have to secure your money, or tokens/coins to your hardware wallet, or electrum wallet etc since you have full control unlike CEX.
Earlier there is a news that Coinex have been hack, where the hacker transfer and drain the wallet, with ETH, Polygon, Tron etc, i think this is the first time this exchange has been hack, i say i have coins there but no value, but if you have lots of eth and others thats is a major concern, since we don't know if they can refund the loses.
so to be safe store your bitcoin and other coins to safe wallet, like hardware wallet etc.
this is the link of the news :https://cointelegraph.com/news/coinex-crypto-exchange-suspected-hacked-crypto-moved

It's always essential to prioritize the security of your cryptocurrencies. Storing them in a hardware wallet or a secure software wallet like Electrum is a wise choice to maintain full control and reduce the risk associated with centralized exchanges (CEX). Thank you for sharing the news about the Coinex hack; it serves as a reminder of the potential risks.