Why you should not store your cryptos on an exchange (but use a wallet instead)
By Ben Dickson
On a Friday morning in late January, the users of Coincheck, a Japan-based cryptocurrency exchange, logged in to find their wallets empty of NEM tokens, a cryptocurrency specialized for payments and other financial services. But this wasn’t a temporary server outage, a common problem most exchanges have been grappling with since cryptocurrencies went on a crazy price surge in 2017. Earlier that day, hackers had allegedly compromised Coincheck’s servers and stolen 500 million NEMs (worth $400 million at the time the incident happened), the cryptocurrency equivalent of robbing a bank. Cryptocurrency exchanges—and by extension their users—have been falling victim to…
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February 26, 2018 at 10:22AM
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