Australian Cryptocurrency exchange MyCryptoWallet collapses

[traderjo]

https://www.abc.net.au/news/2021-12...lapse-liquidation-jaryd-koenigsmann/100679200
Here are some James
...which could see investors losing everything due to a lack of regulation.
.."I think that's one of the things that a lot of consumers don't understand, that the cryptocurrency held on the exchange is not theirs in the same way. They don't have direct control over it," said RMIT Blockchain Innovation Hub's Aaron Lane.

ASIC tooth less watchdog

 

[maxinger]

nothing will scare away the cryptocurrency investors.

BTC is still strong at 49000.

 

[traderjo]

Oh so failing exchanges is ok is it! for die hard believers Lets not just take market risk but lets take additional risk of exchanges doing a runner .. hurrah
lets move all our hard earned money to Bitmex in Seychelles !
last time I checked people who speculate or invest in stock or shares.... although individual brokers wen't belly up the exchange itself have not

 

[FreeGoldRush]

Oh so failing exchanges is ok is it! for die hard believers Lets not just take market risk but lets take additional risk of exchanges doing a runner .. hurrah
lets move all our hard earned money to Bitmex in Seychelles !
last time I checked people who speculate or invest in stock or shares.... although individual brokers wen't belly up the exchange itself have not

What percentage of all crypto has been lost on an exchange? Not much. And it's easy to remove this risk as an individual: Just move your crypto off the exchange and into a personal wallet.

 

[mason macgregorson]

https://www.abc.net.au/news/2021-12...lapse-liquidation-jaryd-koenigsmann/100679200
Here are some James
...which could see investors losing everything due to a lack of regulation.
.."I think that's one of the things that a lot of consumers don't understand, that the cryptocurrency held on the exchange is not theirs in the same way. They don't have direct control over it," said RMIT Blockchain Innovation Hub's Aaron Lane.

ASIC tooth less watchdog

They say "investors losing everything due to a lack of regulation"; the global futures trade room industry is massive and unregulated as well (outside of FINRA, SEC or CFTC; 1;Melin HM, High-Performance Managed Futures: The New Way to Diversify Your Portfolio, Wiley Inc., Appendix 5, pg. 268, 2010).

 

[maxinger]

What percentage of all crypto has been lost on an exchange? Not much. And it's easy to remove this risk as an individual: Just move your crypto off the exchange and into a personal wallet.

the % lost must be very low. That's why the BTC didn't drop massively.

I am not sure if the personal wallet is a safe place.

anyway, cryptocurrency trading systems have been known to be of
very low security despite the 'high-security' blockchain technology.
investors should have gone to the regulated exchanges.

 

[traderjo]

the % lost must be very low. That's why the BTC didn't drop massively.

I am not sure if the personal wallet is a safe place.

anyway, cryptocurrency trading systems have been known to be of
very low security despite the 'high-security' blockchain technology.
investors should have gone to the regulated exchanges.

regulated exchanges.? in which jurisdiction?