$31 million in the hand of hackers | Bitcointalksearch.org

Morgann

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Quote from: Gileadorji12 on June 21, 2018, 04:11:00 AM

$31 million in the hand of hackers.....Bithumb Why?
When will all these crypto hacking Stop for the sake of
mooning?

That is the reason why we should always look on how good is the security system of a market or exchanger before we are going to place their coins onto them and start trading.

The_Dark_Knight

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Quote from: Gileadorji12 on June 21, 2018, 04:11:00 AM

$31 million in the hand of hackers.....Bithumb Why?
When will all these crypto hacking Stop for the sake of
mooning?

Hacking is not going to stop, why it should stop? Hackers get a lot of money out of these kind of hacks, as long as exchanges do not take their security in a more serious way this is going to keep happening but even if the security of exchanges improved hackers will always find a way to get in and steal money, after all if there are hackers talented enough to hack governments there is no way a private institution like an exchange has any chance at all of avoiding getting hacked.

ajochems

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Hacker will look for the money source, either it may be money in certain bank account or huge amount of bitcoin in a wallet.Now bitcoin is more valuable than dollars.The only way to stop hacking is protect your wallet with some advance security system.

berrygood

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Quote from: paul00 on June 24, 2018, 11:15:45 AM

Quote from: berrygood on June 24, 2018, 10:29:13 AM

That can't be stopped unless everyone uses decentralized exchanges as they hold coins of their customers they are more vulnerable, decentralized exchanges are safer and there will be no such big hacks, that is why I invest in oax, its prototype just been released check: https://dex.demo.oax.org/

I think even if they decentraized it can be hack we all know hackers are 24/7 awake for the sake of getting information or rob money from us. But as I know it can prevent as long as they update their security daily or weekly.

Decentralized exchanges can prevent it but still I can't understand how such a big exchange bithump can be hacked Huh

then most of the money in crypto is not safe now.

oli123

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From the second largest stock exchange in South Korea, with a daily trading of more than 330 million US dollars, disappeared cryptocurrencies of approximately 37.2 million USD.
Blockchain is safe but stock exchanges are not always, they can be hacked at any time. I can only recommend: When trading on cryptocurrency exchanges be careful!
It is best to choose crypt-assets immediately after trading - not to leave them in a "hot" wallet - and save them safely.

carlfebz2

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Quote from: Gileadorji12 on June 21, 2018, 04:11:00 AM

$31 million in the hand of hackers.....Bithumb Why?
When will all these crypto hacking Stop for the sake of
mooning?

You should expect those unexpected things to happen yet you do already make yourself involve into this very speculative market which we wont even know on possible things that do happen later on and hacking incidents is already a part of it.
Talking on how to stop it? No, theres no way that it cant be stopped either it is really an incident or an inside job those hack events would really exist no matter what.

Altcoins enthusiast

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Quote from: Gileadorji12 on June 21, 2018, 04:11:00 AM

$31 million in the hand of hackers.....Bithumb Why?
When will all these crypto hacking Stop for the sake of
mooning?

If such large amount of money are in the hand of hackers they can easily dumpany coins price by selling cheap. I think we need more security projects in other for us to be able to reduce this hacking activities. I will also advised those big blockchain companies to store the investments of investors in a safe place instead of risky it like what bithumb has done.

mahvia

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who am I to judge. I only flame

Look at the bright side, it keeps coins prices low and best time to invest again

then again it scares some fresh money from the market

gabmen

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Quote from: eaLiTy on June 24, 2018, 03:11:45 PM

Quote from: Gileadorji12 on June 21, 2018, 04:11:00 AM

$31 million in the hand of hackers.....Bithumb Why?
When will all these crypto hacking Stop for the sake of
mooning?

Unless these exchanges take things seriously and appoint talented people to monitor and protect everything these hacks will keep on continuing unless we have some other system like a dual private key system for the coins we deposit in these exchanges so that the hackers wont be able to run away with the coins. Over all we had over a billions of dollars worth of hack throughout this small window this market is active and the numbers are not that great.

It's inevitable. There are huge amounts of money in exchanges and it will always be a target for hackers. And i think most exchangesndo take security seriously, it's just that there are hackers who are pretty talented to get past some exchange securities.

eaLiTy

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Quote from: Gileadorji12 on June 21, 2018, 04:11:00 AM

$31 million in the hand of hackers.....Bithumb Why?
When will all these crypto hacking Stop for the sake of
mooning?

Unless these exchanges take things seriously and appoint talented people to monitor and protect everything these hacks will keep on continuing unless we have some other system like a dual private key system for the coins we deposit in these exchanges so that the hackers wont be able to run away with the coins. Over all we had over a billions of dollars worth of hack throughout this small window this market is active and the numbers are not that great.

Febo

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Quote from: paul00 on June 24, 2018, 11:15:45 AM

Quote from: berrygood on June 24, 2018, 10:29:13 AM

That can't be stopped unless everyone uses decentralized exchanges as they hold coins of their customers they are more vulnerable, decentralized exchanges are safer and there will be no such big hacks, that is why I invest in oax, its prototype just been released check: https://dex.demo.oax.org/

I think even if they decentraized it can be hack we all know hackers are 24/7 awake for the sake of getting information or rob money from us. But as I know it can prevent as long as they update their security daily or weekly.

Decentralized exchanges dont hold coins. You as a seller exchange with me as buyer. Decentralized exchange only provides service we met and probably take some small fee. Yes. me and you can get hacked, not the exchange. And when I am hacked only I lose not also you. and when you are hacked only you lose not also me. So yes decentralized exchanges are way to go. Lets hope they will evolve and progress in steady way so we wil be able to use them soon on mass scale.

Lancusters

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Quote from: berrygood on June 24, 2018, 10:29:13 AM

That can't be stopped unless everyone uses decentralized exchanges as they hold coins of their customers they are more vulnerable, decentralized exchanges are safer and there will be no such big hacks, that is why I invest in oax, its prototype just been released check: https://dex.demo.oax.org/

Judging by the name of the link this is a demo version. How can you use it and even more so offer to use it to other people? I never use new exchanges. This is the easiest way to lose your money. It seems to me that the exchange is really little attention to their safety. This will end with the fact that the most secure and comfortable exchanges will remain.

paul00

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Quote from: berrygood on June 24, 2018, 10:29:13 AM

That can't be stopped unless everyone uses decentralized exchanges as they hold coins of their customers they are more vulnerable, decentralized exchanges are safer and there will be no such big hacks, that is why I invest in oax, its prototype just been released check: https://dex.demo.oax.org/

I think even if they decentraized it can be hack we all know hackers are 24/7 awake for the sake of getting information or rob money from us. But as I know it can prevent as long as they update their security daily or weekly.

berrygood

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That can't be stopped unless everyone uses decentralized exchanges as they hold coins of their customers they are more vulnerable, decentralized exchanges are safer and there will be no such big hacks, that is why I invest in oax, its prototype just been released check: https://dex.demo.oax.org/

xuan87

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It suck to see exchanges keep on being hacked, it really make the price fall down really deep and this could make people hesitate to trade again, and the exchanges supposed to be increase their security to prevent this kind of thing happen again, but I don't see any serious step for exchanges to really focus on the security thing

newinbtc

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Quote from: First77 on June 21, 2018, 08:01:30 AM

Quote from: Gileadorji12 on June 21, 2018, 04:11:00 AM

$31 million in the hand of hackers.....Bithumb Why? When will all these crypto hacking Stop for the sake of mooning?

Blockchain technology can be trusted. Is it safe ??

YES ITS SAFE . Because there are many developers and mining operators are here but no owner. Its upon you how you secure your coins in online wallet.

let me take an example:-
https://blockchain.info/wallet
Security options
- google auth (each time you login you have to provide code)
- sms verification (one time login code generated at time of login)
- email Ip address verification (compulsory for all users)
- they have mobile app you can access your wallet even on the go
- there is no username for login instead they provide wallet ID (very hard to crack)
- in case you lost funds you can still recover funds by your 12 word recovery passphrase

Bithumb hacked due to lack of security in their system may be internal team messed up with hacker Who knows? who is responsible for this
just my reviews.

ethereumhunter

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I read that news too and I think crypto hacking will always happen in the cryptocurrency because of cryptocurrency still legit and I think many hackers will try to hack with many ways. but as long as we can secure our account, we don't need to be worry and afraid and this is why that many people will do everything to make sure their coins is saved.

rainezerr401

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Quote from: Gileadorji12 on June 21, 2018, 04:11:00 AM

$31 million in the hand of hackers.....Bithumb Why?
When will all these crypto hacking Stop for the sake of
mooning?

In my own opinion, the reason why they are being hack is due to weak security on the market and that is the reason why you should always ask reliable person before investing or placing your coins in a market.

khaled0111

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Hackers will always find a way to steal our money.
Exchanges are not 100% safe. The wisest thing to do, is to keep your money in your wallet not in the exchange wallet.
This is not the first time a huge exchange get hacked but the good thing is that it didn't affect the market.

the1arty

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Quote from: Gileadorji12 on June 21, 2018, 04:11:00 AM

$31 million in the hand of hackers.....Bithumb Why?
When will all these crypto hacking Stop for the sake of
mooning?

Did you read that Bithumb owned $28m in taxes, and that was announced in early June? The question is, can we draw a line between those 2 stories, or it is just weird circumstances. However, that's negative news and bitcoin dropped slightly straight away.

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