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RE: 523m NEM Stolen 🔐 - How It Happened And What's Next

in #cryptocurrency7 years ago

I learned early on as part of my research, you should always have control of your wallets and private keys. Centralized Exchanges are vulnerable to attacks from a number of sources and these attackers are incentivized to attack as they have concentrated sources of assets to take with one attack.

Interesting how the exchange is handling this. Come to show how much money they make...

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does anyone know how much profit an exchange like this makes per year? They found an extraordinary large amount very quickly to be able to credit to users accounts

I think I read a couple of days ago that Coinbase/GDAX had a $1.2B profit last year! Incredible even though they only trade 4 assets but are one of the largest in volumes.

anyone interested in setting up an exchange?