Six people are going up against the Treasury Department. Two stories that seem to be different. One very scary example. It all has to do with privacy.
In this edition of CryptoSlate Wrapped Daily, Voyager receives bids from 22 parties interested in purchasing its assets, Algorand upgrades its network mainnet to increase transaction capacity, and much more.
According to a class action lawsuit filed in a Georgia court, the cryptocurrency exchange failed to protect consumers' accounts against theft and hacks, and it is suing for up to $5 million in damages.
What happens if Coinbase gets hacked? First off, Coinbase WILL NOT GIVE YOU YOUR MONEY BACK. They say they have “insurance” but it’s only if the main site gets hacked, not your specific account. Listen, if your crypto gets stolen off Coinbase, it’s gone.
While you’ll be eligible for a refund from Coinbase in case the company’s error caused unauthorized transactions from your account, you won’t receive a refund if you shared your account info with a third party. Coinbase might lock your E-Money Wallet temporarily.
While Coinbase sure is doing a great job on the security side, it still doesn’t mean that they couldn’t get hacked in the future. Always remember: Exchanges get hacked all the time. As of now, there are a total of 45 hacked exchanges since 2011.
If you haven’t secured your Bitcoin account, it is possible that your account gets hacked and your Bitcoin gets stolen by an anonymous hacker.
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Coinbase has settled with New York for $100 Million in regards to anti-money laundering regulations. Let's talk about that.
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