Quote from: pooya87 on December 17, 2024, 12:30:12 PM

It will cause a panic sell but that's it. Collapse of coinbase exchange is not big enough to be considered catastrophic. Keep in mind that bitcoin does not rely on some centralized exchange, it is a decentralized money working fine without them; and nobody cares about altcoins (they just pump and dump regardless of what happens to exchanges).

As I said, if it happened, it wouldn't be the first major exchange to go down. None of the previous ones damaged "crypto industry" and that won't change in the future.

I wouldn't predict its demise but I'm also not sure about it not-happening...

Panic selling will certainly occur and those on the investor will also want to move their assets to other exchanges.
There will be more panic on every coin in the market, all will go down and include bitcoin, but of course this panic will soon end and everything will recover.

Remember that in the past there were more exchanges with a fairly large volume, at that time many experienced bankruptcy because they were hacked and the like.
And only the top exchanges are left that are able to survive and continue to grow in terms of management and security for users and user funds.

And yes, Bitcoin is not only on the Exchange but in every holder's personal wallet that cannot be touched by anyone.
The collapse of the Exchange is not the end of everything, but a warning that management and security need to be paid attention to and continue to be improved.
Learning from MT. Gox in the past with its security vulnerabilities and FTX as the most corrupt and embarrassing Exchange CEO.

These are some of the CEXs that have gone bankrupt, hacked and other issues, and also include current Exchange numbers (but didn't find Coinbase on this list)

DATE	EXCHANGE	CAUSE	THE AMOUNT STOLEN (USD)
April 9, 2023	GDAC	Gains access to hot wallet	$13 million
November 12, 2022	FTX	Unauthorized transaction	$600 million
January 17, 2022	Crypto.com	Unknown	$34 million
December 11, 2022	AscendEX	Gains access to hot wallet	$80 million
December 5, 2021	BitMart	Gains access to hot wallet	$150 million
August 19, 2021	Liquid	Gains access to hot wallet	$97 million
April 29, 2021	Hotbit	Gains access to hot wallets	0
December 23, 2020	Livecoin	System/server compromised	Unknown
December 21, 2020	EXMO	Gains access to hot wallet	$4 million
December 1, 2020	BTC Markets	Internal staff error	270,000 data user
September 25, 2020	KuCoin	Data leak	$275 million
July 11, 2020	Cashaa	Malware	$3.1 million
June 29, 2020	Balancer	Vulnerability in protocol	$500,000
April 19, 2020	Lendf.me	Bug and re-entrancy attack	$24.5 million
April 19, 2020	Uniswap	Bug and re-entrancy attack	$500,000
February 5, 2020	Altsbit	Gains access to hot wallet	$70,000
December 19, 2019	Youbit	Gains access to hot wallet	Unknown
November 26, 2019	Upbit	Gains access to hot wallet	$49 million
November 5, 2019	Vindaks	Unknown	$500,000
July 11, 2019	Bitpoint	System/server compromised	$32 million
June 27, 2019	Bitrue	System/server compromised	$4.5 million
June 6, 2019	Gatehub	Unknown	$9.5 million
May 7, 2019	Binance	Gains access to hot wallet	$40 million
March 29, 2019	Bithumb	Unknown	$29 million
March 25, 2019	Coinbene	Alleged insider	$40 million
March 24, 2019	DragonEX	Unknown	$1 million
February 15, 2019	Coinmama	Data leak	450,000 data user
February 1, 2019	Cryptopia	Unknown	$16 million
January 26, 2019	LocalBitcoins	Phishing	$27,000
October 28, 2018	Maplechange	Alleged insider	$51,000
September 14, 2018	Zaif	Gains access to hot wallet	$60 million
June 18, 2018	Bithumb	Unknown	$31 million
June 10, 2018	Coinrail	Unknown	$40 million
April 13, 2018	CoinSecure	Alleged insider	$3.5 million
February 10, 2018	Bitgrail	Alleged insider	$146 million
January 27, 2018	CoinCheck	Unknown	$560 million
December 20, 2017	EtherDelta	DNS server compromised	$1.4 million
July 5, 2017	Bithumb	Unknown	$7 million
April 22, 2017	Yapizon	Gains access to hot wallet	$5.3 million
August 2, 2016	Bitfinex	Unknown	$623 million
May 9, 2016	Gatecoin	Gains access to hot wallet	$2.14 million
April 7-9, 2016	Shapeshift	Alleged insider	$230,000
February 16, 2016	BTER	Unknown	$1.75 million
December 11, 2015	Bitstamp	Malware	$5 million
August 15, 2015	BTER	Alleged insider	$1.65 million
July 13, 2014	Mintpal	Gains access to hot wallet	$2 million
March 4, 2014	Poloniex	Gains access to hot wallet	$50,000
February 2014	Mt.Gox	Various methods	$460 million
November 11, 2013	Bitcash	System/server compromised	$100,000
September 2, 2012	Bitfloor	System/server compromised	$250,000
March 1, 2012	Bitcoinica	System/server compromised	$87,000

Source: https://chainsightnews.com/post/deretan-exchanges-crypto-yang-jadi-korban-peretasan-sejak-2012