Binance Crypto scam incident?

Binance scam incident? It seem Crypto is not regulated by MAS, what is your opinon, how will you mitigate this kind of risk?

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Chris

04 Jul 2021

Owner and Writer at Tortoisemoney.com

Now, I don't really dabble in such leveraged tokens, but I guess some ways to mitigate this:

First, don't ever think the exchanges are your friends. They're out the make a quick buck and they will do what it takes to do it.
Use more than 1 exchange so you can exit when you need to. I use Gemini and FTX as my backups.
Keep as little funds as possible on your exchange (tbh I have none) and keep your crypto and funds in a wallet (that you hold the keys to). I use Metamask but there are plenty of decent ones out there. You can secure your wallets further with a hardware wallet or a cold wallet to hold your coins.

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