Hackers, Banks, and Broken Trust: The New Reality of Digital Finance

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Nowadays, some or the other news is coming which makes all of us very worried and in such a situation, if that news is related to your money, then the worry increases even more. Some people keep their life's earnings in their bank accounts and they think that their money is safe there, which is very different because, nowadays, your money is online, so thinking it to be safe is probably your illusion. Often many cases happen where a bank gets hacked or some application comes that compromises your database but some companies take responsibility for it but some companies do not take responsibility for it at all. Last year Wazir was hacked and according to the company, it was a very big hack.

But still look at that company which froze the users' cashback when it should not have done so that the users should have been given confidence and their funds should have been cleared due to which there would have been more discussion about their exchange but they did just the opposite and there are many errors in the balance too but that company is so big that it can easily recover small losses. Looting keeps happening in many exchanges and the hackers keep demanding handsome money.

All this depends on the financial condition of the company that has been acquired. If the company is large, then it is not much affected by small issues, but if it is a small company, then it has a huge impact. The same applies to banks or the investment firms that exist these days. If the company is large, then it bears the losses it incurs, but if it is small in business, then all kinds of bills are borne by its customers.

Many such companies have been hacked but they have returned the funds of their users, though after some time, and by doing this, the trust of the bank increases on a particular company, he does not keep his money anywhere because he gets the benefit only from the people who invest in his business idea, but a poor person invests money in the company and thinks that his health will be created by it, but the reality is just the opposite of this.

I hope you learned something new today. See you tomorrow. Have a wonderful day. I'm not sure what the exact time is. See you

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