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Yellow Card CEO lost his life savings.

onlyprofits

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As many will know, Yellow Card is an African cryptocurrency exchanger, the CEO is Chris Maurice. He says that in the beginning, when the Bitcoin had a price of 200 dollars he invested 5000 dollars, acquiring around 21 BTC, he liked the project so much that he invested all his savings and stored them in Localbitcoin because it was the platform he used in that moment because of its popularity. It ignored the advice not to store a large amount of BTC in online wallets and it also did not activate the second factor of safety or 2FA.
It was not long before he realized that almost everything had been taken away from him, they only left 0.8 BTC, he decided to keep them and at the time when the BTC rose from $ 1,700 to $ 6,000, he sold 16 days before that price increase occurred.
He paid dearly for his hazing and lack of preparation.
That is why we must follow the safety advice on the handling, holding and sale of BTC.
What do you think of what happened to the CEO of Yellow Card?
Have you ignored the security warnings for handling, holding and selling cryptocurrencies?
 
damn that's sad, same thing happened to an arabian investor, he lost around 100.000$ worth of BTC, but his situation was different, he got scammed from different platforms that he was part of
 
If I guess this yellow has exchange platform in Nigeria. This painful he should have used cold storage wallet to store that huge bitcoin. It a very big loss, I hope this doesn't affect his health status.
 
This is a big loss to Chris and a lesson to all us not to keep large number of bitcoin on any Exchange platforms because of hacking , this might the reasons why some whales move their coins from one Exchange to another place.
 
This is very bad , that's why its better to always activate the 2 factor authentication and any other security before investing on crypto sites due to any security breach
 
This is another example of people who paid dearly for their overconfidence and ignoring the security advice that has always been given regarding the safeguarding of a large amount of BTC or any other cryptocurrency.
Hopefully we are not one of those people who despite knowing all these measures, we ignore
 
Some people don't actually believe that something like fraud or theft could happen to them, hence their nonchalance to security measures. Unfortunately, the aftermath regrets hardly remedy the situation.
100% agree with you and to that statement I would add that there are many people who think that this will not happen to them. Everyone who begins to carry out transactions on the internet should prepare, they should have a basic knowledge of preventive measures about cybersecurity.
 

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