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Why Security In Crypto Exchanges Is So Crucial

After the recent exchange hacks of QuadrigaCX and Cryptopia, our team at Cryptimi wanted to share with you how we take security into account when reviewing and evaluating cryptocurrency exchanges on our website. On Cryptimi, we have reviewed the best cryptocurrency exchanges operating in the industry and security is always one of the top considerations we take into account. Why is security so important? Cryptocurrency exchanges get hacked, this is part and parcel within an industry which thrives on ever-evolving technology. The biggest hacks which have previously taken place include the Mt.Gox hack which resulted in $450 million being stolen at...

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The Tragedy Of The Canadian Exchange QuadrigaCX

The founder of the Canadian crypto exchange, QuadrigaCX Gerald Cotten has hit news headlines recently after unexpectedly passing away. At the time of his death, the 30-year-old was in possession of over $170 million in cryptocurrency which has now gone with him to the grave. Thousands of people who used the QuadrigaCX exchange are now left wondering if they will ever see their funds again. One of the biggest online crypto exchanges in the world, Mt. Gox, shut down five years ago after losing 850,000 Bitcoins to hackers which were valued at about $0.4 billion at the time. Investors were...

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Coinbase Make New Partner in Effort to Get Young People Involved in Bitcoin

Over the next few months, users of SoFi Invest will be able to purchase cryptocurrencies like Bitcoin through a partnership with Coinbase. For those that don’t know, SoFi (short for Social Finance) was founded in 2011 by Mike Cagney, James Finnigan, Ian Brady and Dan Macklin. The platform is an online personal finance firm that provides loans to students, mortgages and so on. You can also invest using several different methods and without the fees. SoFi is aimed at young people with a variety of finance products including lending. Even though the first has been going for a few years...

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Mt. Gox: Five Years After Disaster

Five years ago yesterday, Mt. Gox was hacked and over the course of just a few days, the Japanese based exchange, which dealt with more than 70 percent of Bitcoin transactions, closed its website, suspended trading and filed for bankruptcy by reported that 850,000 Bitcoins had vanished as a result of the hack. Fast forward to now and the situation isn’t much better as creditors are still trying to get back all their funds which will most likely never be found. Breakermag spoke to two crypto exchange CEOs and a few Chief executives at a crypto wallet to reflect on...

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Why Liquidity Networks Are The Future Of Decentralized Exchanges

The recent furor around Canadian cryptocurrency exchange QuadrigaCX has proven that, even now in 2019, dealing with centralized cryptocurrency exchanges can still be a risky business. The founder of Quadriga, Gerald Cotten, was apparently the only person holding the private keys to around $135m of cryptocurrency belonging to the exchange’s customers. As news of his death emerged, customers realized they may never get their money back. The situation highlights the necessity of ensuring adequate security measures around private keys. Decentralized exchanges (DEXs) have been touted as a solution to the security issues faced by centralized exchanges such as Quadriga. A...

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