January 27, 2022

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From https://www.zerohedge.com/crypto/brothers-abscond-4-billion-crypto-stolen-south-african-exchange

In a story that will sound familiar to anybody who followed the collapse of Canadian crypto exchange Quadriga, two brothers who ran a South African crypto exchange have absconded with Bitcoin worth $3.6 billion stolen from their clients, demonstrating once again the one glaring security weakness: While hackers are believed to have brought down Mt. Gox, disillusioned insiders with the right kind of access can easily run off with a life-changing amount of wealth. And in many cases, clients who trusted the exchange to safeguard their assets will be left holding the bag.

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