this is clear proof, if the hacker is fabulous than security,
why is a hacker more powerful and fabulous than security? because they never give up, they have proven that there is no security that is 100% safe on the internet
Topic: $1 Billion Dollar’s Worth of Cryptocurrency Stolen in 2018 - page 2. (Read 4898 times)
It is better to write how much was stolen at the rate exactly at the time of the theft, because I strongly doubt that the hackers did not spend and did not convert this money into fiat, but they persistently keep it until the current moment. Although it is possible that part remained, and part was sold.
well we cannot really anticipate what hackers did to the stolen amount maybe some of them Sell it out instantly while others keep the currency and also others may be converted into other crypto coin as investment but no one can tell right?what we need to tackle here is how this can be prevented and how can these hacker put into Jail that is the most important thing here,because they are really not helping the community.and the sad part is those victims that making the investments here as their future.
I don't know if you guys heard another CEX hacked in the last couple of days:
https://twitter.com/altsbit/status/1225319347687653377?
Might be small amount, but a lost is a still a lost form this cyber criminals.
Already anticipated for this kind of events yet no matter how tight the security is, there would still always a flaw if its not a total breach then it would be an inside job.Quote
Dear users,
Unfortunately we have to notify you with the fact that our exchange was hacked during the night and almost all funds from BTC, ETH, ARRR and VRSC were stolen.
A small part of the funds are safe on cold wallets.
Unfortunately we have to notify you with the fact that our exchange was hacked during the night and almost all funds from BTC, ETH, ARRR and VRSC were stolen.
A small part of the funds are safe on cold wallets.
https://twitter.com/altsbit/status/1225319347687653377?
Might be small amount, but a lost is a still a lost form this cyber criminals.
So these kind of events arent really surprising if one day we would hear again another exchange been hacked and losing most of the funds and telling all is being stored
on the hotwallet. Why they cant just use cold wallets and just put up sufficient amount on hot ones for daily tx? Seems like intentional eh?
It is better to write how much was stolen at the rate exactly at the time of the theft, because I strongly doubt that the hackers did not spend and did not convert this money into fiat, but they persistently keep it until the current moment. Although it is possible that part remained, and part was sold.
Bitcoin and cryptocurrencies have controversial beginnings to begin with and these events make investors big or small insecure about their assets. If popular exchanges which are trusted by people are vulnerable to such threats then trading in cryptocurrencies will be less trusted.
I wouldn't say it's controversial, there is no controversy, the media just spun bitcoin or crypto that's why it attracted a lot of attentions from governments.
If they became insecure then why the number of Bitcoin transactions are going up? and the number of crypto traders are also growing exponentially? "Trust" is a strong word in crypto world and I don't think that traders really do trade on exchanges because they trust them, but just because they can earn money, the same as exchanges are making money out of us traders.
And as far as hacking goes, it won't simply just as what @Jating as posted, we have hacks are early as this time, but at least it is not in millions of dollars.
Bitcoin and cryptocurrencies have controversial beginnings to begin with and these events make investors big or small insecure about their assets. If popular exchanges which are trusted by people are vulnerable to such threats then trading in cryptocurrencies will be less trusted.
What do you mean? I would agree that no one is safe specially if you leave your most of the funds in an exchange, but I doubt that people feel less trusted. If you know what you are doing, and you have the knowledge, then unlikely that you will lose in this game and stop trading completely, just saying. Everyone should do their due diligence and learn how to protect your assets at all costs.
Bitcoin and cryptocurrencies have controversial beginnings to begin with and these events make investors big or small insecure about their assets. If popular exchanges which are trusted by people are vulnerable to such threats then trading in cryptocurrencies will be less trusted.
I don't know if you guys heard another CEX hacked in the last couple of days:
https://twitter.com/altsbit/status/1225319347687653377?
Might be small amount, but a lost is a still a lost form this cyber criminals.
Quote
Dear users,
Unfortunately we have to notify you with the fact that our exchange was hacked during the night and almost all funds from BTC, ETH, ARRR and VRSC were stolen.
A small part of the funds are safe on cold wallets.
Unfortunately we have to notify you with the fact that our exchange was hacked during the night and almost all funds from BTC, ETH, ARRR and VRSC were stolen.
A small part of the funds are safe on cold wallets.
https://twitter.com/altsbit/status/1225319347687653377?
Might be small amount, but a lost is a still a lost form this cyber criminals.
Hackers are getting smarter and smarter. But exchanges are working on security, hopefully
Hackers will always win.
Majority of crypto are stolen from exchange so its exchange fault as they couldn't protect the fund and they give their excuse whether it is hacker or insider job. As for those who are new to crypto are easy target to scammers and mainly phishing site which take their private key or phrase, so crypto awareness is more needed. In my opinion crypto exchange should move to dex with speed comparable to regular exchange.
That is one of the biggest issues affecting crypto-currency since it's invention.Billions and millions worth of dollars is been stolen within short periods of time making most investors to shy away from investing in any crypto-based program.I think the issue of theft in crypto-currency should be taken care of as it is affecting the market negatively.
This is sad, but it's still small compared to fiat been stolen. Exchanges must spend more on cyber-security and never toy with security issues. Equally, individuals must must keep a good practice of using exchanges and their wallet by avoiding little security lapses. Traders must avoid new exchanges of shady character and stick to good existing ones.
I think we are getting used to the fact nowadays, I mean it says "one billion dollars" but think about the early days of bitcoin and compared to how much was tolen today in bitcoin terms instead of dollar terms and there used to be a lot more bitcoins stolen back in the day.
Just mt.gox alone is enough bitcoins gone for probably 3-4 years of todays bitcoin gone, sure it worth a lot less back in the day and worths a lot more now so when you steal 1000 bitcoins today the dollar equal is probably 100k bitcoins back in the day but those were still bitcoins gone, maybe some people would hold it? Maybe some would sell it for a profit, all of those possibilities are gone now.
In 2020 there will be a lot of bitcoins stolen as well and in 2021 as well, its not going to stop, there are a lot of dollars stolen every year as well so if we are talking about money there will be some people who will try to steal it, some will be small like pick pocketing level, some will be murdoff but eventually there will be a lot of money stolen no matter if its bitcoin or dollar or euro or any other currency
Just mt.gox alone is enough bitcoins gone for probably 3-4 years of todays bitcoin gone, sure it worth a lot less back in the day and worths a lot more now so when you steal 1000 bitcoins today the dollar equal is probably 100k bitcoins back in the day but those were still bitcoins gone, maybe some people would hold it? Maybe some would sell it for a profit, all of those possibilities are gone now.
In 2020 there will be a lot of bitcoins stolen as well and in 2021 as well, its not going to stop, there are a lot of dollars stolen every year as well so if we are talking about money there will be some people who will try to steal it, some will be small like pick pocketing level, some will be murdoff but eventually there will be a lot of money stolen no matter if its bitcoin or dollar or euro or any other currency
Does this news still bothering up til now? Well provably we should move on since this is an old news since it cannot effect on what's current happening right now and remember we are almost reaching at year 2020 so most provably we will reach a another milestone for that year since halving is coming anyways so chill up guys and future is great ahead.
I wouldn't consider this an old news though, this is an on-going battle, so this has a definite far reaching effect to crypto enthusiast.
Yes, I would agree that we need to be positive and look at 2020 with gusto and enthusiasm, but we can't just move on and forget about money being lost because of hacking and it will continue to increase as time goes on.
I think differently since if we base the bitconnect scam where they scam about I think multi millions or even billions(if I am not wrong in my figure) it doesn't give any fuck on the market that's why we see the price became good even if the thieves dumping it. That's why we need to relax since the support is risen up and people for sure starting to fill their bags which help to maximize the Bitcoin support.
Vulnerabilities present in crypto wallets and exchanges are used by hackers to steal crypto coins and irony is that once coin move from one wallet to another there is no way you can return them. This is where fiat is more responsible in handling your money, you can always recover the loss if you face any cyber hack.
Does this news still bothering up til now? Well provably we should move on since this is an old news since it cannot effect on what's current happening right now and remember we are almost reaching at year 2020 so most provably we will reach a another milestone for that year since halving is coming anyways so chill up guys and future is great ahead.
I wouldn't consider this an old news though, this is an on-going battle, so this has a definite far reaching effect to crypto enthusiast.
Yes, I would agree that we need to be positive and look at 2020 with gusto and enthusiasm, but we can't just move on and forget about money being lost because of hacking and it will continue to increase as time goes on.
Does this news still bothering up til now? Well provably we should move on since this is an old news since it cannot effect on what's current happening right now and remember we are almost reaching at year 2020 so most provably we will reach a another milestone for that year since halving is coming anyways so chill up guys and future is great ahead.
that's why non custodial crypto exchange like Nash exchange will succeed
We have a long way too there, centralized exchanges are so popular, and they will stay on top for years probably. Some articles about this matter says that centralized exchanges cover more than 95% of the crypto market, and the rest is on decentralized exchanges and local transactions. It's a huge favor for centralized exchanges, they will not be taken down so easily. Why is like that, well people don't like to wait, centralized exchanges with much higher volumes attract more people. Other thing is probably peoples ignorance, many people don't know how to use cex and from dex they are still far away.
Popularity of dex will not come so soon, 5 to 10 years and maybe more. For people first to figure out crypto, and then everything else, that takes time.
Hackers are getting smarter and smarter. But exchanges are working on security, hopefully
that's why non custodial crypto exchange like Nash exchange will succeed
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