Post
Topic
Board Beginners & Help
Re: Another reason and proof to keep funds in your wallet not in an exchange
by
Rockstarguy
on 15/09/2023, 13:36:00 UTC
Although this has not happen to our exchange where we put our funds for a long time
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
This is not new about exchange,  it is a common issue that occurs with an exchange that is why exchange should never be a wallet to hodl  because  it has never been reliable from experience to see an exchange as a comfortable place to bitcoin,  with the usual network problems exchange always have  that makes users unable to have access to their money, with this Challenge that occurs all time it is very risky to leave money in exchange because anything can happen.  Their are some exchange I know that Normally go showdown for hours all in the name of maintenance,  this is how exchange in the past got showdown and till now .