May 15, 2021

Co-found Genesis Block: Don't keep your assets on stock exchanges

Co-found Genesis Block: Don't keep your assets on stock exchanges

Co-founder of cryptocurrency company Genesis Block HK, Clement Aip, recently shared his negative storage experience. cryptocurrencies on Asian exchanges.

Speaking at the BiockShow Asia 2019 conference, Ipe told the story of how he lost a “huge amount” of coins as a result of a hacking exchange. He said:

Do not store your assets on exchanges. Do not be lazy. I went through this experience and learned from this mistake.

During the conference, participants also discussed cryptocurrency regulations in Asian countries, as well as their impact on the market and the entire cryptocurrency ecosystem.

Hacking cryptocurrency exchanges - quite commonevent on the blockchain market. Some of the largest companies lost a huge amount of money during hacks. In addition, this summer the Binance exchange announced the leak of personal data of customers, as well as an unknown hacker demanded 300 bitcoins (BTC) in exchange for 10,000 files with their personal information and photos.

According to the materials cointelegraph.com