Turkey's Crypto exchange BtcTurk Hacked
In cryptocurrency market, hacking is one of the problematic part. Despite using the highly advanced technology the Crypto exchanges are not able to make themselves hack proof. Every year we come across a few hack incidents and this is never a good experience for the community. Crypto is a digital money and we need to follow the safety protocols to ensure the safety but still sometimes hackers get the access to the funds.
BtcTurk is a leading crypto exchange in Turkey and this exchange is attacked by cyber hackers. The hackers have got the access to their hot wallet and their wallet is compromised.
BtcTurk, a leading crypto exchange in Turkey, suffered a cyber attack, resulting in unauthorized access to several of its hot wallets.
The Crypto exchange has shared the update on X and this is a good approach by the exchange as its a fair practice to keep the users community informed. The exchange has also stated that the funds are safe and there is no loss for the users. This is good as users should not go through the loss because of this and exchange should manage their part.
Hope the situation of crypto hack does not happen again this year because loosing money is never a good experience and this scenario should be changed with the advancement of technology.
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Such events in the crypto industry are truly unfortunate and tragic as they end the dreams of many.
that is why it isn't easy to trust on decentralized exchanges. It is better to choose DEX