Eterbase Hacked 5.5 Million Crypto Value

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History of hacked exchangers becomes the lesson to me. The first lesson that I take is that " If you don't have private key or paraphrase you have no money" . Yeah, it is very simple that staking, leaving or saving money in exchangers have the biggest risk to loose your cryptocurrency asset. You don't have a key to recover your properties.

Eterbase is an exchanger based in Slovack Republic.

According to a statement issued by the Slovak Republic-based exchange, hackers extracted approximately $5.4 million from the exchange’s accounts on August 8. Shortly thereafter, Eterbase assured users that law enforcement had already been informed about the incident.
https://cointelegraph.com/news/5m-stolen-from-a-european-crypto-exchange-after-hot-wallets-compromised

IS DEX BETTER?

Decentralized exchange is better, I think to solve the hacking problem. However, dex has issues with transaction fees. Some government rules may prohibit from anonymous dex exchange. KYC is needed though in dex platform. KYC is also a problem for cryptocurrency users because submitting KYC has also risk of data privacy abuse. From the cases of hacking, most of them are centralized exchange. Dex problem with the gas fee or transaction fee. Ethereum dex like idex needs high fee to make trades.

pic source maling

HOW ABOUT SWAP EXCHANGE

Swap exchange is now more popular because, the users need only few seconds to exchange coin then the coin sent to their private wallet. It is much more secure. The problem is in the pricing. The pricing to exchange coin is in the current market at the lowest rate. That is not profitable for traders. Lowest rate will give high income to the uniswap developers. From the security, trusted swap is better than traditional dex and centralized exchange.

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