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Where do the confiscated cryptocurrencies go ? Crypto news today

Where do cryptocurrencies go after the death of their owner  Crypto News Today

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Riches that have no owner

After the great spread of cryptocurrency trading and investing in it, some people have very important questions, the most important of which is: Where does the cryptocurrency wealth go after the departure of its owners, and how can the heirs obtain that money?

And with no party responsible for regulating these matters, there is no way to prove whether the deceased person owned digital currencies or not, and the relatives of this deceased person cannot obtain anything from the inheritance.

What will happen to the encrypted currency after the confiscation?

Many international reports revealed that the number of holders of the currency "Bitcoin", the most traded currency in the world, has exceeded 40 million people around the world, and as we mentioned above that the crypto and forex markets do not have any ways to know if a person may actually own a digital currency or not and as a result , The legal heirs cannot obtain these digital currencies that they are entitled to obtain, especially since the currencies witness great rises from time to time constantly.

Where is the solution?

To prevent such situations from occurring, owners of encrypted digital currencies must ensure that someone has knowledge of the digital wealth they own and how to access them in the event of an emergency, in addition to sharing passcodes with people they trust.

This is one of the only solutions to this problem, which is to share with some people we trust about these currencies and ways to obtain them in the event of departure.

Cryptocurrency news today

Today, everyone was surprised by the drop in the marketing value of cryptocurrencies by more than 24%, and given the drop in the price of bitcoin to $18,500, investors rushed to how to protect from this decline, yet the crypto market is still full of great strength.

The price of Bitcoin has now tried to recover from the collapse, but it will not be able, due to the collapse of the FTX exchange, which affected all digital currencies.

For its part, the Ethereum currency also declined in the past days, reaching the level of $ 1000, and the decline of other assets, such as the Solana currency, which declined significantly, increased.

Changes in the world of digital currencies

Many global websites have announced emergency changes in the FTX cryptocurrency trading platform, as a message was sent yesterday stating that the FTX exchange was hacked and all funds disappeared, then this message was immediately deleted.

This news comes after it was announced that more than $400 million had been drained from FTX accounts to a single, anonymous wallet address.

ftx news

*** What is bitcoin mining - how does it work ?

opinions about these changes

The largest cryptocurrency exchange Binance, withdrew from the rescue plan of its giant competitor, FTX, and said in the meaning that they were hoping to help and support FTX customers by providing appropriate liquidity, but these problems are beyond the company's control and ability to help.

As digital assets fell again with the decline of the Bitcoin currency, which we talked about above, after the announcement of the Binance company.


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