Hackers - Scammers are destroying Crypto
and
risking Hundreds of sincere developers and Investors
More hacking more scams news everyday -
I dont understand - a Crypto exchange with billions online not have capacity to hire good online security companies ?
I think it's "perfectly normal" for crypto exchanges to lack in a lot of features. Most of them started with no licenses and when crypto was not that popular. Their systems wasn't ready for the crypto boom, and they are taking a lot of time to upgrade their systems. Usually it's not very easy to make updates when they have a lot of users, without disrupting their services.
Not saying this is a good approach, because is not, but I guess that many exchanges started with independent owners, that don't have a lot of people working on their platforms, and they are trying to keep their business running by themselves. I mean, Mt. Gox was a magic the gathering trading platform, before becoming a crypto exchange. That shows that people entering the business weren't very professional.
Finally let's not forget that crypto exchanges are a honeypot for hackers, specially the centralized ones, and although crypto markets might represent billions, they are still nothing compared to the fiat market, so it's "normal" to see crypto exchanges being hacked, instead of banks, etc.