Deleted due to compromised account

[hirngespenst]

You are absolutely right mate, Centralized exchanges have bad records for years! Among all old crypto exchange Only Bittrex was good all these days. But yet it can't be a storehouse of your coin! Hack, scam It is like very common, regular in centralized exchanges! However, I hope BCNEX won't scam this time, but everyone should leave this suspicious exchange after all of this drama. They told me that be patient mate, today is a holiday, so, we will start withdrawing again from Monday! That's mean withdrawal are being handled manually, that's it!

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[asriloni]

God, the team was blocking my telegram account yesterday and some people said the team is already erasing the telegram group too. Just think to always use the reputable exchange site will be much better rather than try to use the new exchange site. The liquidity on the hot wallet of bcnex is almost zero and that's crap. I guess the amounts have been stolen by the team.

The possibility of running away from their customers is very high with how they are dealing things.
Why would the team erase their social media channel if there is no imminent exit activity?
I really don't trust new exchanges with very low liquidity and trading volume.
Better stick to your known exchanges that you have proven that you can withdraw your funds anytime you want without waiting for so long.
I still trust some exchanges but storing my coins is really a no no for me anymore.

Im not sure if this exchange site currently already an exit scam.
But it looks like the team is just wanna avoiding a lot of complaints that have been made by the users. The strange thing is when another exchange site has million dollars on its hot wallet but this exchange site has only a few ethereum. In my understand someone who will try to WD his money must wait until there will be another user who is depositing his money to the hot wallet. I just think the million dollars that have already raised already stolen by the team.

[NathanJB]

But with all those hack incidents hitting the largest of cryptocurrency exchanges, the people are still using them more than DEXs. I don't understand why. The volume is not a reason because sooner or later when people are really choosing DEXs over centralized exchanges, the volume will immediately follow. There is really no future with centralized exchanges for me. KYC is one issue. Hacking and stealing of coins and other personal information is another.

some time ago I have experienced the same thing but now I am trying to trade with another method although using a decentralized exchange place I use a special wallet for trading so I will not lose all the assets that I have again, because I have had experience using 1 wallet to trade and save coins and get hacked I suffered a lot of losses.

That's a nice strategy you have. Sometimes we really need to walk an extra mile for our security.

I had a bad experience with Etherdelta before, the most popular and trusted DEX in the history of cryptocurrency trading. I had a little trauma inputting my private key into any DEX after that. But then when its reputation was already sullied, I tried shifting to IDEX and everything was smooth once again.

[Sri rahayu]

It is as risky as it is, as we keep our money into our personal wallets or physical wallets such as safer flash drives.
Exchange in my opinion only a place to sell a coin without holding it too long so it does not happen like that.

I agree with you, and only send it back to the exchange wallet when I want to trade again, When I finished trading, I pulled back to my personal wallet.

[huu78]

actually not only in a centralized exchange but with any exchange that has millions of dollars in assets is also one of them, because fraudsters are always after valuable items.

therefore, for anyone, never store your assets for too long in the Exchange, because it is very risky against hacking.
Be a wise user, use exchanges according to your needs.

It should be like that, we as intelligent people must save our money in personal wallets and hardware wallets that we have as in the FlashDisk.
Exchange is just a place of exchange without saving our money there too long. Because it is at risk like the above where many hacking happens.

[MINISTR_E]

We pay for comfortable work with cryptocurrencies to centralized exchanges, but we can completely abandon them. But, can we then make a good profit?

[Ayiranorea]

I don't know how this hacks and scams can be avoided with the decentralized exchanges. With Binance the hack took place, and the funds that got away from the users end were settled by Binance itself. Will the same is possible with decentralized exchanges, if some hack has taken place and funds were stolen. At such situation whom should the users claim.

[the rise]

I don't know how this hacks and scams can be avoided with the decentralized exchanges. With Binance the hack took place, and the funds that got away from the users end were settled by Binance itself. Will the same is possible with decentralized exchanges, if some hack has taken place and funds were stolen. At such situation whom should the users claim.

I think dex doesn't have a coldwallet like a centralized market, their system only acts as a medium of direct trade between traders who are fully responsible for their private keys, the worst case is a phishing attack that cannot be prevented by developers, the case at dex has never been as big as cex.

[WalkerIVIV]

We pay for comfortable work with cryptocurrencies to centralized exchanges, but we can completely abandon them. But, can we then make a good profit?

If you are a trader and what are you looking for to make a good profit should be the liquidity and the fact that if DEX is less on the liquidity compared with the centralized exchange site. Based on this point and that will much more difficult for you to create good profit from the decentralized market. I believe the answer you can't.

[masterrex]

Hack, scam are common things in Centralized exchange. Don't get fooled by the high rank or huge trading volume, still, they are not safe! Binance CEO CZ was very confident that Binance is like a hardware wallet, he tweeted about it and after one month of that tweet, Binance got hacked and 7000 Bitcoin was compromised! Bithumb, Coinbene was hacked several times, many centralized exchanges scammed us.

Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!

So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!

Well that's true, that no systems are 100% percent safe, because all systems are prone to errors that might be cause of some serious problems such as hacking, that's why continues upgrade is a must to fix those errors. But in my opinion you should stop comparing those thriving and trustworthy tested platforms from the new ones, like binance for example im using it since 2017 but until now i never faced any single problem so far that's why i'm not convince that its dangerous to trust and use the centralized exchange, Bcnex and Binance is not the same level so its not appropriate to compare them.

[Ahimoth]

But with all those hack incidents hitting the largest of cryptocurrency exchanges, the people are still using them more than DEXs. I don't understand why. The volume is not a reason because sooner or later when people are really choosing DEXs over centralized exchanges, the volume will immediately follow. There is really no future with centralized exchanges for me. KYC is one issue. Hacking and stealing of coins and other personal information is another.

some time ago I have experienced the same thing but now I am trying to trade with another method although using a decentralized exchange place I use a special wallet for trading so I will not lose all the assets that I have again, because I have had experience using 1 wallet to trade and save coins and get hacked I suffered a lot of losses.

That's a nice strategy you have. Sometimes we really need to walk an extra mile for our security.

I had a bad experience with Etherdelta before, the most popular and trusted DEX in the history of cryptocurrency trading. I had a little trauma inputting my private key into any DEX after that. But then when its reputation was already sullied, I tried shifting to IDEX and everything was smooth once again.

Based on my experience with etherdelta, that's opposite with your problems mate. Though there were times I encountered delayed processing on trading, but it went good after my order had been completed. Also with IDEX, your transactions on same problem will tend to happen when there's some problem that would arise which beyond our control.

[mobilestrike]

Indeed, centralized exchanges are riskier in terms of security but some of them insure the assets. Hacking of Binance didn't affect the assets of any users because this exchange was able to return the stolen money. It appears that it demonstrates that centralized exchanges can be less dangerous (but not many of them). So security is not a question of decentralization/centralization. Decentralized exchanges can be not safe, too. CryptoBridge, for example, has gone away (all of a sudden). I wonder what happened to the money of people who didn't manage to withdraw them in time.

yes if we are on exchange then we have to care that even on decentralized exchanges we will not consider our money safe as the hacker if can get access to bigger exchange servers then they can also get access to our systems and can hack our private keys and can withdraw our money. But here the case is that if we know how to secure then we will make our system fully secured but we do not know that how much other centralized exchanges are secured. There are also chances that some exchanges exit with scam as mentioned about one of the exchange in the OP.

[Beparanf]

As much as possible don't put too much expectation and investment in any exchange, we must limit and monitor our investment well since we don't know when they will gone or escape. I prefer to spend in transaction fees than to left my money in an exchange for long time due to this event that locking may happen.

[BlackFor3st]

Hack, scam are common things in Centralized exchange. Don't get fooled by the high rank or huge trading volume, still, they are not safe! Binance CEO CZ was very confident that Binance is like a hardware wallet, he tweeted about it and after one month of that tweet, Binance got hacked and 7000 Bitcoin was compromised! Bithumb, Coinbene was hacked several times, many centralized exchanges scammed us.

Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!

So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!

Yeah your right if possible don't put large amount of money in any centralized exchange as their are many factors that can trap your money in that exchange.

Or you can put money in centralized exchange but make sure that you will not let it stay for a long period of time to avoid those problems like hacking and scamming attempt. Anything can happen so it's better that we need to be wise or else we will lose our hard earned money easily.

[calandra78]

I don't know how this hacks and scams can be avoided with the decentralized exchanges. With Binance the hack took place, and the funds that got away from the users end were settled by Binance itself. Will the same is possible with decentralized exchanges, if some hack has taken place and funds were stolen. At such situation whom should the users claim.

I think dex doesn't have a coldwallet like a centralized market, their system only acts as a medium of direct trade between traders who are fully responsible for their private keys, the worst case is a phishing attack that cannot be prevented by developers, the case at dex has never been as big as cex.

the two are indeed different. but I do prefer a centralized exchange rather than DEX or CEX. maybe the binance  DEX that caught my attention to trade there.

[Golftech]

As much as possible don't put too much expectation and investment in any exchange, we must limit and monitor our investment well since we don't know when they will gone or escape. I prefer to spend in transaction fees than to left my money in an exchange for long time due to this event that locking may happen.

I also have same principle, it's better to pay those transaction fees than to store my crypto inside exchange wallets. I prefer to hold my assets where full control is in my hand as I'm the one who's in charge to whatever possible things that might happen. Unlike with exchange wallets where unexpected things can ruined and sucks all your money.

[mobilestrike]

Hack, scam are common things in Centralized exchange. Don't get fooled by the high rank or huge trading volume, still, they are not safe! Binance CEO CZ was very confident that Binance is like a hardware wallet, he tweeted about it and after one month of that tweet, Binance got hacked and 7000 Bitcoin was compromised! Bithumb, Coinbene was hacked several times, many centralized exchanges scammed us.

Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!

So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!

You speak as if we have a choice. All the things you said are obvious, by the way, I don’t think that you made a deposit at BCNEX, most likely you are trying to withdraw the funds you earned from the bounty. In any case, DEX exchanges are not ideal and do not provide the proper level of speed, liquidity and convenience. All the exchanges you listed, except BCNEX, have returned funds to their users and continue to operate normally.

Yes many exchanges return money to their users but only if they afford. Some exchanges shut down if they cannot afford and in some exchanges your money will be in pending for months or years. Just think about the situation of Cryptopia exchange which was hacked previous year and after that they announced that they cannot afford to run exchange further and invited the liquidators and the users of that exchange are unable to withdraw their funds from around an year and are waiting for the decisions of liquidators.

[Script3d]

As much as possible don't put too much expectation and investment in any exchange, we must limit and monitor our investment well since we don't know when they will gone or escape. I prefer to spend in transaction fees than to left my money in an exchange for long time due to this event that locking may happen.

I also have same principle, it's better to pay those transaction fees than to store my crypto inside exchange wallets. I prefer to hold my assets where full control is in my hand as I'm the one who's in charge to whatever possible things that might happen. Unlike with exchange wallets where unexpected things can ruined and sucks all your money.

the thing with exchange is that they put a high withdrawal fee so that the users don't withdraw their coin out of the exchange so they can just grab it and call the exchange got hacked. Yeah it's better to have full control of your asset rather than having a centralized exchange controlling it .

[Xardasim]

The choice of keeping money in CEXs seems to encourage those who trade daily.  Because instead of paying extra fees and wasting time, keeping it there is a more convenient way.  In DEXs, this is somewhat different and  plays a role to protect you without your knowledge.

[BeManga]

Hack, scam are common things in Centralized exchange. Don't get fooled by the high rank or huge trading volume, still, they are not safe! Binance CEO CZ was very confident that Binance is like a hardware wallet, he tweeted about it and after one month of that tweet, Binance got hacked and 7000 Bitcoin was compromised! Bithumb, Coinbene was hacked several times, many centralized exchanges scammed us.

Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!

So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!

well its not really a good idea to put all your money in exchange
only put the amount you need to trade and withdraw it as soon as possible
exchange is really not secure as it seems a lot of exchange closed in the past because of hacked
if only there will be a good decentralized exchange that we can use with many users I will not also use a centralized exchange