we have repeatedly touched upon the issue of safe storage of cryptocurrency in our articles, however many users continue to keep their assets on the exchanges, which seem to be driven by the convenience of timely sale. A good option, but sometimes force majeure occurs in which users lose money. Let us recall a few such cases, tell about them to those who are neither hearing about them, because it’s more profitable for a pocket to learn from the mistakes of others than from their own.

To begin with, let us analyze the problem of exchanges which was recently quite seriously discussed in the network - overestimation of trading volumes

According to Blockchain Transparency Institute researchers, more than 70%of exchanges that hold leading positions in coinmarketcap inflate trading volumes. This happens through the so-called wast trading. Such a phrase refers to the purchase and sale of assets when assets do not pass from the holder to the new holder. If to explain in simpler words, manipulators simply buy up their own orders.

And although the information above is impressive, there is more interesting research.

A trader named Sylvian Reibs conducted his own investigation, the point is, he made deals of $ 50,000 on various exchanges and watched how much the price changed. Result: more than 90% of the presented trading volumes, dont correspond to reality.

There were other studies on which we probably will not dwell, because the information is essentially similar, only the methods change. How does this threaten us, holders of cryptocurrency? Essentially nothing wrong with that, only to newcomers in the industry it threatens to bring their hard-earned money to the exchange with high trading performance and after it turns out that the figures there are not so big.

And let the twisted numbers - the problem of the industry as a whole, there are things that can affect each of us, namely "scam" exchanges. And scam can be total, as in the HYIP industry, and maybe selective.

Let's look at a couple of examples, and everyone will make conclusions for himself.

We will not start with scam, but with quite a natural process, namely the hacking exchanges.The latest example that comes to mind is the breaking of the Bithumb exchange, as a result of which more than $ 18 million in cryptocurrency was stolen from the accounts of the exchange. We will not explain this situation, just recall the obvious fact, if you dont shout everywhere that there is a lot of cryptocurrency on your wallet, the likelihood that your wallet will be hacking is extremely small. But on the exchanges is never empty, which is why the hackers, as a rule, choose this goal.

Moving on, a few days ago agoinformation appeared in the network through information about blocking user accounts on the Bittrex exchange, this is not the first case of massive blocking. The passed verification does not save from blocking, and promise to unblock accounts only after providing rather strange information, for example, sources of income for buying cryptocurrencies. This is not the only such case, we advise to monitor the news of the crypto-industry in order to be aware of such problems and to withdraw assets to your wallet in advance.

And finally, the rarest, but the most painful type of cryptocurrency market incident, the total scam. Like for example the closing of the exchange "WEX" in July 2018. According to the calculations of the initiative group, the trading volume of the exchange exceeded $ 400 million. Ex-owner of the exchange Dmitry Vasilyev is credited with withdrawing more than $ 200 million. At the moment he is on the interstate search. Perhaps one day they will find him and someone will receive compensation, but it is still better not to intervene in such situations.

We gave you food for thought, you decide how to interpret it and what to do with it!