Cryptocurrency Exchange hacks and money losses

Recently we have seen a lot of NEWS on bans imposed and hacks involving cryptocurrency exchanges. These exchanges are operating since a long time and trade a lot of monetary transactions and also rank well in the Cyrpto Currency exchange. The experience and these news shows us that, hackers only need time to crash an exchange or steal Bitcoins and even if the address is known, nobody can do anything about that. Even this hack can be a preplanned course by the same exchange. As most Governments has not approved Bitcoin a legal currency, registering a case with the Police or any law enforcement agencies are of no use.

Right now, once the cryptocurrency is stolen, there is no way you can get that back, unless you have mercy from the exchange, who should be ready to compensate the loss. There is no one or legal entity to help regulate or help in any way with regards to Crypto Currency related issues.

Crypto Currency is just a sweet word, but not at all a worthy investment. It is more profitable and secure to invest in Stock Market with Government and rules and laws integrated. If the same amount to be invested in Crypto Currency is put into the Stocks, you can buy more stocks and reap many times the profit earned through Crypto Currency trade.

Governments have already released notifications that there will be nobody to help if anybody invests in Crypto Currency, as there is very little or nothing known about who started Bitcoin. Bitcoin serves as a base for all Crypto Currency, even if denied about Bitcoin’s influence on other Crypto Currencies. Those who are blabbering about its genuineness and possibilities and its future are just trying to get a personal attention.

Our sincere advice would be to stay away from Bitcoin. It cannot coexist with the real world currencies as it is not traceable, once hacked.



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