The summary.
ASSETS HELD ON AN EXCHANGE ARE A CLAIM ON THE EXCHANGE
Exchanges have failed, been hacked, and misused customer funds. Withdraw anything not actively being traded.
Returns offered on deposits mean customer assets are being lent — which is precisely what failed exchanges did.
TEST WITHDRAWAL WITH A SMALL AMOUNT BEFORE DEPOSITING ANYTHING SIGNIFICANT
Restricted withdrawals have preceded several collapses.
USE AN AUTHENTICATOR APPLICATION, NOT MESSAGE-BASED CODES
Number redirection attacks target exchange accounts specifically.
ON PEER-TO-PEER PLATFORMS, VERIFY FUNDS HAVE CLEARED BEFORE RELEASING
Not that a transfer was claimed. And never move off the platform — it removes escrow protection entirely.
Receiving funds later traced to crime can freeze your banking relationships.
THIN MARKETS MOVE SHARPLY, AND EXITING MAY BE IMPOSSIBLE AT THE QUOTED PRICE
Most participants using leverage lose money, and positions are routinely closed at total loss during ordinary volatility.
VERIFY THE CURRENT REGULATORY POSITION DIRECTLY
It has changed more than once here and continues to develop.
