Good-Guy
VIP Contributor
Cryptocurrency exchanges and trading platforms are really useful because they are those kinds of platforms where we could trade cryptocurrencies and make money. Thousands of investors around the world try to carry out trading activities by investing money into such exchanges and try to buy cryptocurrencies. However, I have also seen that there are many exchanges that get hacked and many investors lose money. In the past, a micro wallet called Faucet Pay got hacked and the administration of Faucet Pay claimed that they are trying to recover the funds. A few weeks ago an exchange called "Bit Mart" got hacked and the administration of Bit Mart claimed that it would compensate the losses. I am not sure how come they "recover" the losses when the cryptocurrency gets stolen. As far as I know, cryptocurrencies are not traceable, and I think they try to recover losses through insurance companies. What do you think? How did Faucet Pay managed to recover the loss?
