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RE: Is The Government Partially to Blame for the Bitfinex Hack?
These incidents are disastrous for the entire crypto community and their prosperity. Decentralization is the hallmark of cryptocurrencies yet their weak point at the same time. Because there is no accepted institution that defines security standards which exchanges and wallet providers would need to obey. The more often these incidents happen where customer funds get lost, the more likely governments will step in and start banning cryptos justifying this with consumer protection. I´m really afraid that this could happen.