Which crypto exchanges have experienced failures and closed?

1 answers

• Maksim ErmakovApr 25, 2024 · a year ago
  Yes, there have been instances where crypto exchanges have faced failures and closed down. For example, the infamous Bitfinex hack in 2016 led to the loss of approximately 120,000 Bitcoins. As a result, Bitfinex had to spread the losses across all user accounts, resulting in a haircut for its users. Another exchange that experienced closure is Cryptsy, which collapsed in 2016 due to allegations of fraud and mismanagement. It's crucial for users to conduct thorough research and choose exchanges with a strong track record and stringent security measures to mitigate the risk of such failures.
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