Quote:
Originally Posted by jscott
Luckily we have choices:
A. (safest) keep on hardware wallet, safe
B. (safe) trade on reliable (more secure) exchanges like Bitfinex/ Binance/ Bitmex
C. (HIGH risk) trade on 100th biggest exchange with only $2mn daily volume, less volume, less profit, less security team, like Coin(de-)rail'd
Also, a much better article with more relevant title, not clickbait
" Korean Cryptocurrency Exchange Coinrail Suffers $40 Million Theft"
compared to clickbait CNN title:
"Billions in cryptocurrency wealth wiped out after hack"
... billions obviously gets more clicks than millions  |
$37.2 million was stolen
$40 billion of wealth was wiped out in 7 hours from scared investors pulling their money out and devaluing the currency.
It's shocking how easily a $37.2 million theft can result in devaluing crypto by $40 billion in just 7 hours.
Bitcoin value dropped 7% in 7 hours. Imagine that happening on the stock market during a 7 hour period.
It's great that investigators are on it to see if market manipulation is occuring.
"Lai said the Coinrail hack intensified an already negative mood in cryptocurrency markets. The Wall Street Journal reported Friday that US investigators were demanding several bitcoin exchanges hand over trading data as part of a probe into potential manipulation of futures markets."