There is a saying in the crypto community which says “ not your keys not your crypto, your keys your crypto. Well it’s a common practice for most traders and small scale investors to trust their assets/investment in the hands of these exchanges, be it centralized or decentralized exchanges.
Form analyst it is said that this year with the current crypto climate that is being faced its has experienced the highest cyber criminal activities in crypto exchanges, bad actors were on the rise in bring these exchanges down and executives making bad decisions in piloting the affairs of the entity.
In a clip from the leofinace weekly AMA which it was advised by moderator that traders or small scale investors should take proper precautions in their dealings, and Shaun placing your digital assets in the hands of these exchanges. Well they praised the merge for it running smoothly and as so they indicated that there will be possible fallout and these bad actors will take an advantage of this in defrauding traders and investors of their hand earn money.
Stating that we should be extra careful out there make a proper decision and investigation before making any progress further.
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