02-22-2021, 07:39 AM
WARNING to Newcomers: 25% of the exchanges I used since 2017 have been hacked!
<!-- SC_OFF --><div class="md"><p>I was going through my spreadsheets and collections of small cap coins, and I realized something pretty horrible that all newcomers should be aware of.</p> <p>During the 2017 run, I slowly made accounts on about 12 different exchanges to put pocket change and recent gains into various small cap coins. Going down the list, I noticed 3 of the 12 exchanges that I used (25%!) have since been hacked, scammed, or otherwise collapsed, and when they went, they took most of their holders coins with them.</p> <p>Those now defunct exchanges were Bitgrail, QuadrigaCX, and now Livecoin.</p> <p>Thankfully, I didn't lose much money, but following the recovery proceedings for each exchange, I know that others lost a lot more than me, and most of them were unable to recover the full value of their crypto, if any at all.</p> <p>Remember the saying, "not your keys, not your coins". When people tell you that, it's because they learned it from experience.</p> <p><em>Edit:</em> I discovered another of the twelve actually exit scammed as well, but I hadn't looked into it because I only made an account and didn't transfer any funds to it. That's 4 in 12, or a THIRD of all exchanges I registered with since 2017 have crashed out in the last three years!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/ShiftyDM"> /u/ShiftyDM </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lpc07h/warning_to_newcomers_25_of_the_exchanges_i_used/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lpc07h/warning_to_newcomers_25_of_the_exchanges_i_used/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I was going through my spreadsheets and collections of small cap coins, and I realized something pretty horrible that all newcomers should be aware of.</p> <p>During the 2017 run, I slowly made accounts on about 12 different exchanges to put pocket change and recent gains into various small cap coins. Going down the list, I noticed 3 of the 12 exchanges that I used (25%!) have since been hacked, scammed, or otherwise collapsed, and when they went, they took most of their holders coins with them.</p> <p>Those now defunct exchanges were Bitgrail, QuadrigaCX, and now Livecoin.</p> <p>Thankfully, I didn't lose much money, but following the recovery proceedings for each exchange, I know that others lost a lot more than me, and most of them were unable to recover the full value of their crypto, if any at all.</p> <p>Remember the saying, "not your keys, not your coins". When people tell you that, it's because they learned it from experience.</p> <p><em>Edit:</em> I discovered another of the twelve actually exit scammed as well, but I hadn't looked into it because I only made an account and didn't transfer any funds to it. That's 4 in 12, or a THIRD of all exchanges I registered with since 2017 have crashed out in the last three years!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/ShiftyDM"> /u/ShiftyDM </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lpc07h/warning_to_newcomers_25_of_the_exchanges_i_used/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lpc07h/warning_to_newcomers_25_of_the_exchanges_i_used/">[comments]</a></span>Kind Regards R