April 25, 2024

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

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

The co-founder of the cryptocurrency company Genesis Block HK, ClementIpe, recently shared a negative storage experiencecryptocurrencies on Asian exchanges.

Speaking at BiockShow Asia 2019, Ipe told the story of how he lost a "huge amount" of coinsAs a result of the hacking of the 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 on the entire cryptocurrency ecosystem. 

Hacks of cryptocurrency exchanges are a fairly common event in the blockchain market.Some of the biggest companies have lost huge amounts of money in hacks.In addition, this summer, the Binance exchange announced a leak of customers' personal data, as well as an unknown hackerdemanded 300 bitcoins (BTC) in exchange for 10,000 files with their personal information and photos. 

Based on materialscointelegraph.com