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RE: The Bigger They Are The Harder They Fall; Biggest Crypto Currencies Exchange Failures

in #bitshares8 years ago

It's crazy how often you hear of crypto exchanges getting hacked relative to more traditional stock brokerages. I know blockchain is a relatively new technology, but come on, it's been around enough years that exchange security shouldn't be this flaky. Maybe it's just that the technology is changing and evolving so fast that new loopholes & exploits keep becoming available faster than they can be discovered and patched up. Personally, I really hope decentralized systems such as Bitshares start to gain more traction. I am making more & more use of OpenLedger myself.

I dodged a bullet with Bitfinex. I had hundreds of ETH on there for lending, but moved it all back to my private wallet on July 29 as I was going on vacation to Malaysia for a couple weeks and didn't feel comfortable leaving my capital unattended on the exchange while I was gone. Boy was that a good decision! But talk about dumb luck. If I hadn't happened to go on vacation at just the right time, my ETH would still have been on Bitfinex when the hack occurred. It gives me chills just thinking about it.