Quote from: Fiatless on Today at 03:59:45 PM

Quote from: lionheart78 on Today at 02:48:36 PM

If you haven't known, FTX is too popular back then. No one ever thought that exchange would collapse, it is possible that @OP is trading something or converting some cryptocurrency and his funds were in there when the scandal happened. Just like anyone would not suspect Mt. Gox would get bankrupt, but it did. I also don't think it was a mistake trading or investing in FTX since all their documents (founders) seems credible they (founder and some staff) even donated funds to US political party.

The OP confirmed in one of his posts that he was using the FTX account for trading. It is common for crypto traders to keep funds in exchanges for quick and easy transactions. Nobody knew that these exchanges would have issues because they were very popular and claimed to have a big financial base. But this is a lesson for all of us that centralised platforms are prone to attacks that could lead to bankruptcy.

Yeah, and even till this day, alot of traders still keep funds in exchanges where they trade, most especially big exchanges like Binance and bybit, kucoin and the rest, but then, I believe the confidence is born from the fact that both Binance and bybit have been hacked with lots of money stolen but the exchanges managed to make sure that their customers funds were not affected, this is the possible reason why traders have come to trust this exchanges much to not think twice about leaving funds there.

Lets just hope that history does not repeat itself in terms of big exchange hack and customers losing fund, cus anything that will make an exchage like Binance to collapse could spell doom for a lot of people in the cryptodom, most especially traders.