I was just talking to a friend from India, and he mentioned that the largest crypto exchange in India, WazirX, was hacked a few weeks ago. Unfortunately, he lost a large portion of his savings and investments.
They aren't even sure if it was really a hack or if the founders just stole the money, founders have already left the country.
Moral of the story: Not your keys, not your coins.
hard lessons
It's going to be really tough for a lot of people. 230 million customer funds disappeared. 😬
yeah that’s absolutely devestating.
230 million customers?!? 😮 that’s probably the same amount as or more than every crypto holder in the US!
Sorry I missed the dollar sign. $230 million is still quite significant. It's worth noting that India is not a high-income country.
You are friends with someone who keeps large portion of their savings on a crypto exchange? Bad friend
Not only that, but the exchange wasn't even offering a crypto withdrawal feature due to some diabolical Indian law. It was supposed to be the most regulated and safest exchange. You can't make this up.
Wow. Imagine the number of people now scared to engage in crypto.
Oddbean new post about login | logout