This weekend, the value of bitcoin, estimated in dollars, dropped to 47,000, and the BitMart exchange office announced that it has lost a cryptocurrency worth almost 200 million dollars in a hacker attack. Is that so?

You will notice that whenever cryptocurrency disappears from a centralized exchange office, it is always the fault of ‘hackers’ and never the exchange office itself because it failed to provide the funds it holds on behalf of its clients. Any such news is always accompanied by a campaign of corporate media against decentralized cryptocurrencies, especially against bitcoin. The truth, however, is different.

You must know that blaming ‘hackers’ is part of the standard fraud that criminals from centralized exchange offices have been systematically using since the famous Mount Gox case, and its crook owner Mark Karpeles. Hackers are not to blame. Whenever you do business through centralized exchange offices, you are dealing with criminal fraudsters who directly threaten your funds. How do they do it?

In the world of cryptocurrencies, the famous rule applies: “Your keys, your Bitcoin.” If the keys are not yours, then the funds do not belong to you. The only way to save it is to keep it on a blockchain, with only you holding the keys. Whenever you leave your funds in the custody of exchange offices, you actually have nothing. And then, as a rule, the following happens: During the first big drop in bitcoin (whose value drags the value of all other cryptocurrencies), a ‘hacker’ attack occurs, after which the exchange office ‘generously’ promises compensation to customers – in fiat paper currencies without any backing. Soon after, the value of cryptocurrencies begins to rise again, and the stolen funds vanishes without trace in a series of transactions that are impossible to track.

Of course, many of you will ask: ‘Yes, but what if it was really a hacker attack?’ Even that can’t relieve the centralized exchange office of responsibility for lost/stolen cryptocurrency. By the nature of their business, they should know that centralized systems are impossible to secure, and they should in no way mislead customers that their funds at centralized exchange offices are safe. They are not, nor will they ever be. Your blockchain keys are the only and best security.

Don't trust them at all. Protect your funds through your own wallet inaccessible to hackers. Leave the centralized exchange offices forever and forget them.

And of course, follow the only relevant money ratio – the one between gold and bitcoin: