In 2020, the number of cryptocurrency exchanges has decreased significantly ..
At least 75 crypto exchanges have closed in the past months of 2020, according to a recent statistic.
The reason for the closure is also quite familiar, because hackers attack and scam so they are forced to close the door or simply run away by the exchange, but there are also a few cases that disappear for unknown reasons.
According to the Crypto Wisser Exchange Graveyard, in the event that the exchanges are attacked by hackers, they must close quite a lot, only a few are back in operation, the rest are forever 'gone'.
Out of the 75 crypto exchanges closed this year, 31 of them were closed free, and 34 were labeled as 'MIA' meaning disappear without any explanation.
The Netherlands NLexch and Chilebit exchange are two crypto exchanges that were declared closed by the government in 2020.
In addition, the legal pressure also makes it difficult for small exchanges to get more difficult in the process of applying for licenses, while large exchanges have their own team to deal with.
And yet, the problem of security mechanisms has made small exchanges often be in the sights of hackers, because with small exchanges, the investment in security systems is quite modest compared to large exchanges.
Talking about security, even big exchanges like KuCoin or Coinbase is also frequently threatened. For example, recently, we also know that KuCoin has been attacked by hackers and taken away more than 200 million USD in cryptocurrency.
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