Most of the hype about cryptocurrencies talks about the impact of regulations, the massive jumps in prices, and the ensuing profits that people make. But, it’s not all rainbows and sunshine. Just like any other financial asset, crypto trading and investments do go wrong.
Here are a couple of examples from around the world on how investors can end up on the losing side of things and are now looking to get compensated.
Can investors in India, who may have lost money to crypto exchanges glitching, also file a lawsuit in the courts? Is there any precedent for that?
Can WazirX users file a case similar to the class action suit that Binance is facing now for glitching when the price of Bitcoin was up and there was a rush to sell?
Binance really is getting it from all sides.
I think this is a really good question. Without regulation, who exactly is making sure that our money is safe on the exchanges? (This is leaving out the section of investor who may have transferred their funds to a cold wallet.)