DO YOU KNOWN WHAT THE EXCHANGES MAKE WITH YOUR COINS?
The story below is true and has sources from CNN, the BBC and many other reports. The story of a broker that starts small, bets on bitcoins, gets points from customers.
Clients invest and believe in the broker. Founders are intoxicated by the amount of money deposited in the form of cryptocurrencies.
As cryptocurrencies do not have an owner, regulation and are not considered coins, only a digital valuation paper, to the digital bearer, so, with a simple blockade of retirees, it hit investors who have not yet managed to reverse the losses because, simply, the millions of bitcoisns "gone".
Check out the chronology of this story below! (Condensation of sources by wikipedia and released via Common sharing license V3 at https://en.wikipedia.org/wiki/Mt._Gox)
I dont show in here because the support of publish0x consider this plagianism!
Read from the link!
Summary of the story: you can't be too careful, even when it comes to brokers.
If you read the document, you must have noticed the scheme: the brokerage, which started small, discovered that manipulating deposited values made a profit. With that, and without investors' consent, the profit was increasing. When the withdrawals were blocked, the coup took place! Brokers and banks do the same, in the traditional financial dynamics. But regulations and audits allow for control. In the case of cryptocurrencies, as no one controls, there are no guarantees, as cryptocurrencies, in a shallow comparison, are bearer securities, which means that whoever exchanges takes the monetary value they represent!
The biggest in the world = binance!
One of the problems that binance faces around the world is precisely the fear of repeating what happened by this story and the lack of transparency in relation to the rates and forms of transactions with the BNB and the blockchain.
Of course, no doubts are being raised about it, but, what a lack of transparency .... this is lacking!
Regulation, over time, will separate the good from the bad!
Related articles:
what-not-to-do-to-make-money-in-cryptocurrencies
