How would you feel when you found out exchange account is wiped out.
My eyes almost come out. I'm thinking I cannot have a heart attack right now.
25% of my Portfolio, is on this exchange, if it is lost, all of it I'd be f#cked.
After you log in the first you will see is the main page where you will see your asset overview. I was more than surprised to see that my assets balance shows 0. Its wiped out.
First thing I did was check the announcement. Maybe the exchange was on maintenance that is why I don't see my balance.
No Announcement about of any maintenance. Not on their website not on twitter.
I check my email to see if their is any withdrawal notification. Nothing.
My withdrawal history on the exchange shows no withdrawal was made as well.
Then, I checked the main account and exchange account tab, and lo, and behold all my crypto are still their.
I thought to myself, is this an April fools joke 3 weeks later. This is not funny.
The asset overview tab still showing 0 balance. I do not know what is happening. I twitted to Kucoin but no response. Not expecting they would respond to me either.
I trust KUCOIN exchange. I bought their token after they got hacked. That is how much I trusted them. I have been using this exchange since 2018.
Takeaway
Leave in the exchange the amount that you can afford to lose. In my case I thought that 25% is manageable. That if I lost it I will be fine. But no. If I have a heart condition, I could die of heart attack.
Don't put your eggs in one basket. Better, do not put your eggs in a basket you do not own. Remember, Not your Keys, Not your Crypto.
We will all have to eventually put some on the exchange. Always observed best practices in protecting your crypto, in exchange wallet or in your own crypto wallet.
If you are hacked or you lost your crypto in the exchange or you send it to a wrong address. Just remember its not yet the end of the world. Losing crypto or in crypto is not worth dying.
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