It’s no secret that crypto is volatile. And with the recent hack of Coinbase, one of the world’s largest and most popular cryptocurrency exchanges, many are wondering: is crypto safe on Coinbase?
Here’s what we know so far. On June 27, 2019, it was revealed that a hacker had gained access to a Coinbase employee’s account and used it to steal over $280,000 worth of Ethereum Classic (ETC).
This is the second major hack of Coinbase in just over a year, following the 2017 hack that saw over $30 million worth of Bitcoin stolen.
NOTE: WARNING: Trading cryptocurrencies on Coinbase carries a high level of risk. Cryptocurrencies are highly volatile and can be subject to sudden price changes. There is also the potential for hackers to steal funds from Coinbase. It is important to remember that cryptocurrencies are not FDIC insured and you should always do your own research and use caution when trading on Coinbase or any other exchange.
In response to the latest attack, Coinbase has said that it will “work with law enforcement” and has also implemented new security measures to prevent future attacks. The exchange has also reimbursed all customers who lost funds in the attack.
So, what does this mean for you? If you’re holding any cryptocurrency on Coinbase, it’s important to remember that no exchange is 100% secure. That being said, Coinbase is one of the more reputable exchanges out there, and its security measures are constantly evolving.
So while there is always some risk involved in holding crypto on any exchange, Coinbase is likely as safe as it gets.
7 Related Question Answers Found
This is a question that has been on the minds of many cryptocurrency investors lately, especially in light of the recent hack of the world’s largest exchange, Mt. Gox. So, is your crypto safe on Coinbase
The short answer is: yes, Coinbase is a very safe place to store your cryptocurrencies.
As the world’s leading cryptocurrency exchange, Coinbase is often the first port of call for those looking to invest in Bitcoin, Ethereum and other digital assets. But is your crypto safe on Coinbase? In this article, we’ll take a look at the security measures Coinbase has in place to protect your crypto, and how you can further secure your account.
It’s no secret that cryptocurrencies like Bitcoin, Ethereum, and Litecoin have been on a tear over the last year. The total market capitalization of all digital currencies has grown from $12 billion in March 2017 to over $800 billion today. And Coinbase, one of the most popular cryptocurrency exchanges, has been at the forefront of this growth.
It’s no secret that cryptocurrency exchanges have been hacked in the past. In fact, it’s estimated that over $1 billion worth of cryptocurrency has been stolen from exchanges since 2011. This has led many to ask the question, “is it safe to keep my crypto on an exchange?”
The short answer is no.
It’s no secret that cryptocurrency exchanges have been hacked in the past. In fact, it’s happened so often that it’s become one of the biggest concerns for people who own or are thinking about buying digital assets. So, is it safe to keep your crypto in Coinbase?
Cryptocurrency exchanges are not known for their security. Mt. Gox, once the world’s largest bitcoin exchange, collapsed in 2014 after losing 850,000 bitcoins to hackers.
It is no secret that cryptocurrency exchanges have been hacked in the past. In fact, it seems like hardly a week goes by without news of another exchange being hacked and user funds being stolen. This has led many people to wonder whether it is safe to keep their crypto on an exchange like Coinbase.
