For subscribers
‘I thought crypto exchanges were safe’: The lesson in FTX’s collapse
The bottom line: Crypto exchanges are not like stock exchanges, and centralised ones are not safe. If the worst eventuates, whether it be an exchange collapse or cyber attack, you risk losing everything.
Sign up now: Get ST's newsletters delivered to your inbox
All investments carry risks, and the unregulated crypto market carries more risk than most.
PHOTO: REUTERS
Paul Mazzola and Mitchell Goroch
Follow topic:
Anthony* (a friend) called a few weeks ago, deeply worried.
A deputy principal of a high school in Queensland, he spent hundreds of thousands of dollars over the past year buying cryptocurrencies, borrowing money using his home as equity.
