Why you shouldn't keep crypto on exchanges

01-02-2019, 03:52 PM

Bassdrop Wrote: For those who keep their crypto stored on exchanges, here's another example of why you shouldn't...


QuadrigaCX, Canada's largest cryptcurrency exchange, claims they can't access their cold storage wallets after the death of their founder a couple of weeks ago and has filed for bankruptcy protection.

• Canadian Cryptocurrency Exchange QuadrigaCX Files for Creditor Protection in Nova Scotia (Cointelegraph)
  
• Crypto Exchange QuadrigaCX Claims They Cant Find Their Wallets (CCN)
  

Posted on the QuadrigaCX site now:




I lost about 500 bucks, could be worse.

Either way, if your crypto is stored on an exchange, you do not own or control the wallet.