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A large cryptocurrency exchange goes down... Cryptopia is next! They got hacked in January for $15 million. They released a press release on the front of Cryptopias page claiming that "Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders."

Did they get hacked a second time? Did they wait for users to deposit bitcoin to close down and pay back their stakeholders? Did they wait for the bulls to raise price so they can take as much as possible? Everything Crypto has been following the recent exchange hacks, losses and it is almost every day that we see unfortunate news in the cryptocurrency sphere. This is the stuff that sledgehammers the trust that is already lacking in the industry. Hopefully people are able to withdraw their bitcoin and other cryptocurrencies from Cryptopia.

Do not leave your coins on an exchange, make sure you own your private keys and make sure they are stored safely! Exchanges are going down quick, it can be your favorite exchange next. The bull market is coming and you do not want to lose your crypto before bitcoin and a ton of other tokens break their all time highs. Stay safe my fell bitcoiners.

This is episode 028 of Everything Crypto, thank you for supporting us.