There have been news in recent days regarding exchanges hacks, phishing attacks, DDOS attack etc. I am very concerned about my funds as most of us deposit these funds to exchanges for trading purposes but what if we lose all our money just because exchanges fault.
I really don't know what these exchanges are doing in regards with protecting the funds of there users. They are dealing in IT and software industey also having best IT experts, developers in there teams but i am really amazed to see even having all these resources they could't protect general public's fund.
If any exchange can't provide safety and security then i think they should shut down there business because it is not there "CUP OF TEA" they should rather focus on some other opportunities in the open market.
Just for an example the recent hack of Bithumb exchange they were more than $30 million worth of digital assets got stole of bithumb users. this is really awful and i can understand the pain of the victims. Now how come an individual would leave his/her digital assests in such exchanges where there is no guarantee for assets protection.
So my advise for these exchanges is if they are really serious about the business in which thet are in to so they must tightens there security also some sort of surety of compensation in the event of any such event happen in future.
Article written by: Vikkyg