Your coin is safe but depending on the way which you use to store it, we all know that exhnage wallet is one of the least secured method of storing your cryptocurrency which most newbies don’t know about. The best way which you can secure your your coin is by using offline wallet because they are not connected to the internet which means you are free from hack, the safest place which you can secure your coin is where you are  in control of your coin which means having full control over your coin, before you can have full control of your coin you must have your private key.
We all know that cryptocurrency exchange is very important because is a platform where buying and selling of coins take place, but we should also know that coins are not suppose to be stored in your cryptocurrency exchange wallet because your fund is at risk whenever something happens to the exchange your funds will be at risk. I notice most Newbies always prefer storing their coin on exchange wallet address because they believe is a convenient place which you can store your coin. Actually, we all know is the easiest place where we can store coin, after buying you don’t have to send the coin out and whenever you want to sell you can easily sell it back but what about the risk associated with it, if you are not careful you can lose all your fund in the exchange if anything happens to the exchange just because of your laziness. The best thing is that after buying a coin from exchange, immediately transfer the coin from the exchange to your offline wallet address and make sure you secure your private key.
If you are a day trader I believe it’s a better you keep your funds on exchange but if you are a mid-term or long term holder them make sure you transfer your coin to your offline wallet.

SOME CRYPTOCURRENCY EXCHANGE HACK THAT HAPPEN, CAUSE OF THE HACK AND THE AMOUNT LOST.

DATE   EXCHANGE   CAUSE OF HACK   AMOUNT STOLEN (USD)
2022, January 17   Crypto.com   Unknown   $34 million
2021, December 11   AscendEX   Obtained access to hot wallet   $80 million
2021, December 5   BitMart   Obtained access to hot wallet   $150 million
2021, August 19   Liquid   Obtained access to hot wallet   $97 million
2021, April 29   Hotbit   Obtained access to hot wallet   Nil
2020, December 23   Livecoin   Compromised system/servers   Unknown
2020, December 21   EXMO   Obtained access to hot wallet   $4 million
2020, December 1   BTC Markets   Internal staff error/mistake   270,000 user's private details
2020, September 25   KuCoin   Data leak   $275 million
2020, July 11   Cashaa   Malware   $3.1 million
2020, June 29   Balancer   Vulnerability in protocol   $500,000
2020, April 19   Lendf.me   Bugs and Re-entrancy attack   $24.5 million
2020, April 19   Uniswap   Bugs and Re-entrancy attack   $500,000
2020, February 5   Altsbit   Obtained access to hot wallet   $70,000
2019, December 19   Youbit   Obtained access to hot wallet   Unknown
2019, November 26   Upbit   Obtained access to hot wallet   $49 million
2019, November 5   Vindax   Unknown   $500,000
2019, July 11   Bitpoint   Compromised system/servers   $32 million
2019, June 27   Bitrue   Compromised system/servers   $4.5 million
2019, June 6   Gatehub   Unknown   $9.5 million
2019, May 7   Binance   Obtained access to hot wallet   $40 million
2019, March 29   Bithumb   Unknown   $29 million
2019, March 25   Coinbene   Suspected trusted insider   $40 million
2019, March 24   DragonEX   Unknown   $1 million
2019, February 15   Coinmama   Data leak   450,000 user's private details
2019, January 26   LocalBitcoins   Phishing data on fake site   $27,000
2018, October 28   Maplechange   Suspected trusted insider   $51,000
2018, September 14   Zaif   Obtained access to hot wallet   $60 million
2018, June 18   Bithumb   Unknown   $31 million
2018, June 10   Coinrail   Unknown   $40 million
2018, April 13   CoinSecure   Suspected trusted insider   $3.5 million
2018, February 10   Bitgrail   Suspected trusted insider   $146 million
2018, January 27   CoinCheck   Unknown   $560 million
2017, December 20   EtherDelta   Server DNS compromised   $1.4 million
2017, July 5   Bithumb   Unknown   $7 million
2017, April 22   Yapizon   Obtained access to hot wallet   $5.3 million
2017, January 14-17   Cryptopia   Unknown   $16 million
2016, August 2   Bitfinex   Unknown   $623 million
2016, May 9   Gatecoin   Obtained access to hot wallet   $2.14 million
2016, April 7-9   Shapeshift   Suspected trusted insider   $230,000
2016, February 16   BTER   Unknown   $1.75 million
2015, December 11   Bitstamp   Malware   $5 million
2015, August 15   BTER   Suspected trusted insider   $1.65 million
2014, July 13   Mintpal   Obtained access to hot wallet   $2 million
2014, March 4   Poloniex   Obtained access to hot wallet   $50,000
2014, February   Mt. Gox   Various methods   $460 million
2013, November 11   Bitcash   Compromised system/servers   $100,000
2012, September 12   Bitfloor   Compromised system/servers   $250,000
2012, March 1   Bitcoinica   Compromised system/servers   $87,000

Source; https://cryptobriefing.com/should-you-store-crypto-exchange/

CONCLUSION

We should all be aware that our funds are not safe in our exchange wallets, therefore if you have a coin, make sure it is stored in an offline wallet and that your private key is always backed up.

[phishing attack;]

Most people that are just joining cryptocurrency don’t really understand cryptocurrency, they believe is a place which you just invest your money and you are rich already, some people don’t believe you can even lose your coin or money, but their are some mistakes which if you make you will be losing your money, which I listed some below, some people will lose money just because they are tricked, scammers are everywhere and they are increasing on a daily basis, coming with new strategies to scam people and mostly they are always targeting newbies, so I will be talking about few ways which you can lose your coin and possible ways to avoid I that mistake which includes;

1, phishing attack; The most common phishing attack comes from receiving a message from social media like Telegram, where the attacker will change his name to group admin and private chat you claiming to be from the team, convincing you they want to help you and you will be asked to follow some steps which you will be asked to follow after you have been tricked into giving out sensitive information about your wallet address under false pretenses. They will usually provide you a link and ask you to enter your information, including sensitive information about your wallet like as your private key.

PREVENTION; whenever you make a complain in a public group and you receive a private message, don’t respond to the message, instead just report and block the person who sent you the message, if you make complaint in a public group, no admin will private chat you, they will respond to your complain in the group. On no condition should you input your wallet private key in any website, no matter where you receive the link to the website from don’t input your private key on a website.

2, Free giveaway; free giveaway; giveaway is another way that people are losing their coins on a daily basis because they are after free coins, which is really bad. In 2021, some influential people's social media accounts were hacked, and the hacker claimed to be doing giveaway. Some will ask you to send a coin and they will help you double it within a few minutes or hours, but once you send the coin, your money is already gone and there is no way to get it back. Some may send you a link and instruct you to click it and connect your wallet address; if you do so, they will have automatic access to your account and will be able to to move all your funds.

PREVENTION; Don't believe anyone you meet online, no matter how influential they are, and don't believe in any kind of giveaway; nobody will double your money for you in a few minutes or hours, and anyone telling you to invest and they will double your money for you is trying to con you; nobody will double your money for you in crypto. When you see a link online and are asked to connect your wallet to it, you must be very careful and double-check the link to ensure you are not connecting your wallet to the wrong link. You should also avoid sharing your private key or other confidential information online.


3, Exchange hack; We have seen multiple exchange hacks, and we should expect more in the future. When an exchange is hacked, the exchange owners and people who have coins in the exchange are always affected. I will list some exchanges that were hacked in 2021 which include;

Bitmart on December 21, 2021, Liquid on August 19, 2021, Hotbit on April 29, 2021, and AscendEX on April 29, 2021.

https://www.hedgewithcrypto.com/cryptocurrency-exchange-hacks/
The majority of newbies that are just joining crypto trading always keep their coins on exchange, which is bad because they can quickly lose them.

PREVENTION; Never store your coin on an exchange because anything can happen to it at any time. After purchasing a coin, make sure you transfer the coin from the exchange wallet to a non-custodian wallet address and secure your private key. (Remember, it's not your key, it's your coin.)

4, Send to wrong chain; beginners frequently make mistakes when transferring coins and as a result they always endup sending coin to wrong chain resulting in the loss of their funds. There are various types of chains in cryptocurrency, including the Binance smart chain, Ethereum chain, Polygon chain, Solana chain, and Tron chain (TRC20). When making transactions, some people make the mistake of selecting the incorrect chain, resulting in the loss of their coin most especially if they are sending to exchange.

PREVENTION; The solution to this problem is to ensure that you are very careful when doing transactions, and that the network you choose to deposit on is the same as the network you choose to withdraw from, or you may lose your coin.