A few days ago the Poly Network crypto protocol was hacked and investors lost $600 million worth of crypto assets. This hack puts into question the security of crypto as a whole. In this video we'll explain how this hack happened and what you can do to keep your crypto safe.
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Can this situation happen with every crypto exchange or not? I'm just sitting on Bitfinex myself and I don't know now whether I should be afraid for my savings or not!
Ahaha how are people still duped by this, "the polynetwork team". Ahaha.
The Bitcoin family from the Netherlands storing their private keys, under custody, in cold storage hard drives in 4 different countries was able to do that prior to the global pandemic when global travel was relatively easy. Ever since the pandemic with all the travel restrictions, I don’t think they can easily access their 2 private keys in cold storage that are located in Asia and Australia assuming that they are still residing in the Netherlands. I’m sure they can still access the remaining 2 private keys that are located in Europe during the summer months when most countries within the EU reopen their borders.
Nice video! I was able to build a big income stream during the covid-19 pandemic investing with a professional broker, Mrs Charlotte Payton.
prinscrack on instagram deserve the recommendation he’s very fast on reversing stolon bitcoin .
prinscrack on instagram deserve the recommendation he’s very fast on reversing stolon bitcoin .
I find it comical that people store "cold store crypto" into actual bank vaults. I hope they see the irony
There is always a smarter hacker out there….and then a smarter one than that.
best way to avoid crypto frauds is to not buy crypto in the first place.
That's exactly why I don't invest in crypto, it promotes illegal actors on the interweb
If I would know bitcoin 10 years ago I would be rich today but I had no clue thing like that existed
This may sound silly to many but,
Solar flares occur regularly and
They have been quite destructive to
Electrical infrastructure.
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I am not sure if you are right, but I like your thoughts. By the way, what do you think about DOGE DNAl?
Storing your bitcoin in cold storage will never ever work. Only a few people would be willing to do that. It's not scalable, having hard drives you're going to then store in secret locations around the world. So that means that unless you're trying to hide something, the average person will be storing their crypto on an exchange.
everything can be hacked there will always be someone that is well skilled, well equipped, and well funded. they can be individuals, private or government groups/agency.
The government won't let crypto become a currency because they can't inflate and monetize debt away with it.
Yall really think the government won't ask for their share?
I'd bet my life that hacker if under 16 and Indian. Such beta moves.
They've already clarified that miners, validators and developers are excluded from the infrastructure bill taxing
The taxes are only relating to brokerage transfers into cash- coinbase, blockfi, bincance etc. which all already have KYC now
Slow down the pace of video release. Instead improve quality. Your earlier videos are far better and more independent than this one. You only spend about 3 mins tops talking about the hacking and the rest of the time is a discussion of crypto currencies. Interesting stuff but not what I came for and a bit generic. Please take this as humble feedback. You obviously put much work into your videos even this one.
Good stuff man! Yeah crypto is useless once the goverment gets a hold of it, I've been calling that for years. If it gets big enough, government will crack down for sure or create their own crypto. We've heard about tons of crypto stolen over the years so I'm not surprised by this.
Imagine investing in crypto or trusting an exchange…. no thanks
Big government is always going to get involved when there's money that doesn't get to the politicians. Especially the current brain dead members of congress and the current president 🙄
Money laundering, Fraud no real oversite + more can happen… and no real way to recoupe losses?
My man. Vid suggestion since you’ve been covering Chinese stocks. “Variable Interest Entity”. Apparently is the vehicle for selling Chinese stocks outside of China. Safety level, who are the players, anything gone horribly wrong in the past?
ps. Sorry but it's obvious you are doing this with a Very dry mouth. Drink some water so we can hear your voice more clearly. Not my intention for any harm but this kinda info needs to be translated clearly – hence our subscription to the channel.
Thanks boet
Have you checked out the 2 young Indian boys that disappeared with over R5 billion in South Africa CLAIMING they were hacked. According to the investigators they were NOT hacked. Scams are REAL!
just a normal day in crypto dunno why anyone would leave money in exchanges
poly network is not a crypto exhange. really liked your other videos. but you missed the mark on this one
Poly Network is a Side Chain, not a "Crypto Exchange".
noted…..perhaps I need to put more of my crypto in cold storage..
Exchanges defeat much of the purpose of crypto but most de-fi enthusiasts don't want to bother setting up the convoluted programs in order to do their own transactions.
Ironic……..
That family should realize all profits now why crypto is still worth something since they're definitely not making any real dough daytrading.
This is the Achilles' Heel of crypto, and is very likely the reason why some oversight is going to be inevitable and necessary, even if we all hate it.