Old crypto exchanges

Globally, exchanges have proven vulnerable to failure and theft ; Japanese operation Mt Gox collapsed in 2014 after someone stole 850,000 bitcoins from it and in 2016 hackers stole almost 120,000 bitcoins from the British Virgin Islands group Bitfinex, which managed to survive and still exists today.11 Ara 2021

One of the biggest heists happened in early December, when the crypto trading platform Bitmart announced that hackers broke into a company account and stole almost $200 million. The company froze all customer transactions for three days before it allowed them to trade their money again.

When we say the ban, we mean that the transactions between the bank and your crypto exchanges will be stopped . This means that you will not be able to convert your local currency into buying any kind of cryptocurrency. This also means that you will not be able to liquidate your HODLed cryptos and get them encashed.