Cryptocurrency technology, the most well-known name of Bitcoin, offers many conveniences and poses many risks. Users can be defrauded in virtual currency purchases, as well as wallets and stock exchange accounts can be hacked. Although you can see which wallet this money went to from the moment money is out of your wallet, it is almost impossible to find information about the owner of the wallet.

Wallet

Wallets are strongly encrypted virtual addresses produced with software and encryption provided by many companies and programs. Although these virtual wallets are strongly encrypted, they can be stolen if these passwords are compromised directly or indirectly. You may feel in a desperate situation, as crypto laws are volatile and unsettled, depending on the country of possession of the wallet, the origin of your wallet provider, and your country of residence. Prae Legal has opportunities to take you out of this bad situation with its wide network and experience in cryptocurrency law!

Exchance Safety

In some cases, you will have to transfer cryptocurrencies to your wallets or accounts in the exchanges you trade. But how safe are these exchanges? Unfortunately, this hacking problem can be experienced not only by individuals but also by large exchanges. According to the information from Wikipedia, the 7 biggest Bitcoin hack cases are as follows;

• Bitstamp In 2015 cryptocurrencies worth $5 million were stolen
• Mt. Gox Between 2011 and 2014, $350 million worth of bitcoin were stolen
• Bitfinex In 2016, $72 million were stolen through exploiting the exchange wallet, users were refunded.
• NiceHash In 2017 more than $60 million worth of cryptocurrency was stolen.[3]
• Coincheck NEM tokens worth $400 million were stolen in 2018[4]
• Zaif $60 million in Bitcoin, Bitcoin Cash and Monacoin stolen in September 2018[5]
• Binance In 2019 cryptocurrencies worth $40 million were stolen.
In such situations, PraeLegal has many plans to protect your rights to the fullest thanks to its experienced network.

Exchange Reliability

There is a possibility that exchanges may be hacked or accounts on the stock exchange may be hacked, as well as fraudulent you in their exchanges. Stock exchanges, whose names are unknown or not based on solid foundations, can make various excuses or cut off communication with you by making promises to their customers in return for their investments. PraeLegal, which will enable you to claim your rights and even earn your right in such situations, is always with you with its solutions!

Investments do not slow down in any way, although there is a possibility that their money may disappear suddenly. For this reason, some countries are trying to legalize their cryptocurrency systems and exchanges. While some countries see the cryptocurrency industry as the future, some countries are strongly against it because it is used in illegal transactions.

Regardless, cryptocurrency seems to be in everyone’s life in the future. Moreover, it is a fact that even if it is risky for now, it is an investment tool that can make a lot of money. Therefore, do not neglect to keep its security at the highest level both software and legal. Prae Legal will fight for your right in all legal fields with its experience, wide network and solutions specific to the cryptocurrency sector.

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