When it comes to mainstream adoption, cryptographic security remains a major challenge. The crypto landscape suffers from daily FUD attacks by mainstream media and legacy finance. Hesitant newcomers may feel even more discouraged when they hear about security vulnerabilities in the crypto space. But the language used to communicate this information is confusing and confusing. What exactly do people mean when cryptocurrencies are “hacked”? And can cryptocurrency exchanges be hacked? Are our assets safe? We will answer these questions and look for ways to protect your cryptocurrencies. too much. Let’s start learning Sprinkle”Encryption Exchange Hacked!” is a common headline that you might find in the news these days. The title is curious because there are many ways to “hack” something. But let’s not continue with ourselves. We need to answer a more relevant question first: Can crypto itself (i.e. virtual currencies) be hacked? The answer is a certain “No” (for now! And the clue is in the name. It’s not called “crypto” for nothing. (It’s short for “crypto”.) Blockchain technology uses a Critographic primitive called hash (combined with Mercelliera trees and others) to securely add correct blocks to the chain.But what about crippling exchanges?Many cryptocurrency exchanges have been hacked and we won’t list them all here. But yes, cryptocurrency exchanges get hacked from time to time. We mention a few important hacks in this section. The most interesting thing, however, is not that they were hacked. This is how the exchanges handled the consequences. You see, the reasons for hacking range from hacking employee computers to leaving funds in an exchange’s hot wallet. But let’s take a look at what Bitmart did after they got hacked. Bitmart was hacked this month (December 2021), losing around $ 150-200 million. But they wasted no time. They immediately said they would reimburse any users whose accounts were damaged.Other reputable exchanges that have been hacked include Binance (2019) and Bitfinex (2016). Bitfinex returned all lost funds to users, but in the form of their BFX governance token. This was to be the dollar equivalent of the stolen funds. Binance also reassured investors that they would be reimbursed in full. But let’s look at two other major players this year: FTX and Coinbase. Has FTX ever been hacked? Never. In fact, when Liquid Global was hacked, FTX CEO Sam BankmanFried offered to lend $ 120 million to the exchange, so that they could continue to meet all of their financial obligations (! it from Coinbase?Can Coinbase be hacked? Coinbase offers more stringent security measures traditionally associated with wealth finance. This is especially true given that Coinbase is a publicly traded company regulated by the US government. Since it has never been hacked, we don’t know if Coinbase is ready to pay back the stolen assets. None of these exchanges actually have a legal obligation to return funds to users. That is why it should be noted that they do this voluntarily. It depends on the trust of the customers, unfortunately in the past of massive hacks there have been some exchanges that failed to refund their users and failed. This is why it is important to avoid such situations as much as possible.