The Most Expensive Lesson of My Life: Details of SIM Port Hack
&gt; Do not leave funds idle on exchanges or fiat on-ramps.<p>This warning has been publicly repeated <i>hundreds</i> of times since 2010, yet people still insist on ignoring it.<p>The author didn&#x27;t lose anything. He gave Coinbase his bitcoin in exchange for a promise to pay it back. That deal backfired.<p>&gt;  I knew the risks better than most, but never thought something like this could happen to me.<p>There&#x27;s knowing the risk, and then there&#x27;s <i>knowing</i> the risk. I&#x27;d suggest that the author didn&#x27;t really know the risk, or he would never have considered leaving such a valuable asset in the care of an organization so ill-equipped to safeguard it.