If you're still keeping your entire bag on a centralized exchange, stop now.
The real damage is not just the hack. It is sitting through a withdrawal freeze while $BTC dumps or a setup you wanted evaporates, with no way to move.
Bitget has started phased withdrawals after a $388M exploit. Some people will call that a win because the exchange is covering users from reserves and reopening access in stages. Others will say a $388 million hole is exactly why you never treat a CEX as a vault.
I'm with the second group. Phased access still means you were locked when it mattered. Traders holding $ETH or sitting in $USDT cannot hedge, cannot exit, cannot rotate until someone else decides the queue is open.
Exchanges are for trading. They are not for storing the stack you cannot afford to lose. Keep what you need to trade and move the rest.
Are you still comfortable leaving the bulk of your funds on a CEX after this, or does $388M change the math for you?
#Crypto #Bitcoin #Security
The real damage is not just the hack. It is sitting through a withdrawal freeze while $BTC dumps or a setup you wanted evaporates, with no way to move.
Bitget has started phased withdrawals after a $388M exploit. Some people will call that a win because the exchange is covering users from reserves and reopening access in stages. Others will say a $388 million hole is exactly why you never treat a CEX as a vault.
I'm with the second group. Phased access still means you were locked when it mattered. Traders holding $ETH or sitting in $USDT cannot hedge, cannot exit, cannot rotate until someone else decides the queue is open.
Exchanges are for trading. They are not for storing the stack you cannot afford to lose. Keep what you need to trade and move the rest.
Are you still comfortable leaving the bulk of your funds on a CEX after this, or does $388M change the math for you?
#Crypto #Bitcoin #Security
