Is it safe to keep my funds on a cryptocurrency exchange after a hack?

3 answers

• May 07, 2022 · 3 years ago
  Yes, it is generally safe to keep your funds on a cryptocurrency exchange after a hack. However, it is important to take certain precautions to protect your funds. Firstly, choose a reputable exchange with a strong security track record. Look for exchanges that implement advanced security measures such as cold storage for funds and two-factor authentication. Additionally, consider using a hardware wallet to store your funds offline, away from potential hacking attempts. Regularly monitor your account for any suspicious activity and enable email or SMS notifications for account logins and withdrawals. By following these precautions, you can minimize the risk of losing your funds even after a hack.
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• May 07, 2022 · 3 years ago
  Absolutely not! Keeping your funds on a cryptocurrency exchange after a hack is like leaving your wallet on a park bench and hoping it won't get stolen. While some exchanges may have improved their security measures after a hack, there is always a risk of another attack. It is highly recommended to store your funds in a secure hardware wallet or a personal wallet where you have full control over your private keys. This way, even if an exchange gets hacked, your funds will remain safe and secure.
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• May 07, 2022 · 3 years ago
  As a representative of BYDFi, I can assure you that it is safe to keep your funds on our cryptocurrency exchange after a hack. We have implemented robust security measures to protect our users' funds, including cold storage for the majority of funds and regular security audits. In addition, we offer two-factor authentication and employ a team of experts to monitor and prevent any potential security breaches. However, it is always recommended to take extra precautions such as using a hardware wallet for long-term storage and regularly updating your passwords. Your funds' safety is our top priority at BYDFi.
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