Bitcoin Whales Move $2.3 Billion, Coinbase Sees Major Outflows!

[Lucius]

~snip~
Most of us use regular email to sign up on a CEX and we use the same email to sign up on a casino. Some of us may even sign up on porn hub using the same email  We end up paying no attention to the emails because we get a lot of emails every day.

You are absolutely right, and the only question is whether people are unaware of the risks they face if they use only one e-mail for everything, or are they just lazy and want to do everything the easy way. Although there are those who use different e-mails but with identical passwords, which are usually so simple that you can guess or bruteforce them in less than 10 minutes.

What is incredible to me is when such people are surprised that someone hacked them - and today, when a lot of people invest in cryptocurrencies, hackers open champagne every day because easy money is literally lying everywhere and you just have to pick it up.

[God Of Thunder]

What is incredible to me is when such people are surprised that someone hacked them - and today, when a lot of people invest in cryptocurrencies, hackers open champagne every day because easy money is literally lying everywhere and you just have to pick it up.

+1 This is because we never think that we can be a target of hackers until we lose something to them. I never thought my email could be hacked because I have signed up on a forum where they share nulled web scripts. I don't know how they hacked my email. But I remember using the same password on a webmaster's forum where they share nulled scripts.

We are going off-topic  LOL.
So, yeah. If those funds end up stored in users' non-custodial wallets, then I also see something good. Last night I heard about the bad news about Kucoin and how the heck users are moving their funds. Something bad can happen without even publishing the news.

[Crypto Library]

Now, the question is, do you see something good in it? The reserve of exchanges has been decreasing for over a year now, and this latest move is another massive addition. Exchange like Binance still holds a big amount of Bitcoin. It would be better if some whales move their fund from Binance as well.

I think a decrease in reserves of any centralized exchanger can never be good news.  Although I am confused whether this transaction from Coinbase means that their reserves have decreased. Having low reserves means that the exchanger is risky for the users, now it can storm any day.

So, yeah. If those funds end up stored in users' non-custodial wallets, then I also see something good. Last night I heard about the bad news about Kucoin and how the heck users are moving their funds. Something bad can happen without even publishing the news.

Bro where did you get this news from?  I had a good amount on KuCoin Exchange however I didn't want to take any risk so I withdrew them now.

[God Of Thunder]

I think a decrease in reserves of any centralized exchanger can never be good news.  Although I am confused whether this transaction from Coinbase means that their reserves have decreased. Having low reserves means that the exchanger is risky for the users, now it can storm any day.

You got that wrong bro. Not all the funds are owned by the exchange. The fund owners are the users of the exchange. For example, let's say you have 10 BTC in an exchange. Do you think the exchange is the owner of that fund? Technically they are the owner because they have the private key of that wallet. But the original owner is you.

So, when you withdraw the funds to your own non-custodial wallets, they will have to approve your withdrawal and send you the money. If you withdraw the funds, their reserve will decrease. So, why do you think decreasing exchange reserve is not good?

Bro where did you get this news from?  I had a good amount on KuCoin Exchange however I didn't want to take any risk so I withdrew them now.

Check Kucoin twitter bro.

[Crypto Library]

You got that wrong bro. Not all the funds are owned by the exchange. The fund owners are the users of the exchange. For example, let's say you have 10 BTC in an exchange. Do you think the exchange is the owner of that fund? Technically they are the owner because they have the private key of that wallet. But the original owner is you.

So, when you withdraw the funds to your own non-custodial wallets, they will have to approve your withdrawal and send you the money. If you withdraw the funds, their reserve will decrease. So, why do you think decreasing exchange reserve is not good?

Thank you for catching up if I got that wrong. But I thought that the reserve of a centralized exchanger and the user fund on that exchanger is completely separated from the reserve of a cex, reserve can be on both like cryptocurrencies and fiat currencies.
But I used to think that the capital of a centralized exchanger is their reserve. Moreover, many times due to lack of proper management, if the reserve of a cex decreases, then there may be trouble with withdrawing funds from users in the future, and that is why I think that the decrease in the reserve of the centralized exchanger is not a good news. Moreover, they can show their desired fund amount in their output interface. It's like if the bank doesn't have money, how will they give you money? Do you remember the incident of robbing your own money in the bank of Libya? Due to the lack of money with the bank, the users could not pay the money. 

[God Of Thunder]

Thank you for catching up if I got that wrong. But I thought that the reserve of a centralized exchanger and the user fund on that exchanger is completely separated from the reserve of a cex, reserve can be on both like cryptocurrencies and fiat currencies.
But I used to think that the capital of a centralized exchanger is their reserve. Moreover, many times due to lack of proper management, if the reserve of a cex decreases, then there may be trouble with withdrawing funds from users in the future, and that is why I think that the decrease in the reserve of the centralized exchanger is not a good news. Moreover, they can show their desired fund amount in their output interface. It's like if the bank doesn't have money, how will they give you money? Do you remember the incident of robbing your own money in the bank of Libya? Due to the lack of money with the bank, the users could not pay the money. 

You're welcome, bro. I understand your point and what you thought about the reserves. Exchanges' reserves are divided into many parts, but I don't think they share all of their reserve information. They only share what they have to share to convince you and me that they have the funds. They are not banks; they are supposed to keep your funds, but they don't have the right to lend them to others, which banks have. So, when the funds of a bank decrease, you should be worried about your funds. But you should not be worried when the reserve decreases from an exchange. But we never know what they are doing with our money. It's always better to have your money in your own non-custodial wallet.