5 Biggest Crypto Exchange Heists in History

rodskee

full member

Activity: 2576

Merit: 205

Quote from: Ailmand on May 13, 2019, 10:34:01 AM

I haven't been affected personally because I'm keeping my holdings on a hard wallet but I'm also sure that it has a negative effect on people these days. Some users have lost their trust in that exchange. Hackers now focus on hacking different exchanges but we should be smart enough to keep our holdings safe as investors and traders.

I think not reasonable your not affected that hacking of binance because you keeping at hard wallet
If the whole funds of binance steal of the hackers I think the whole crypto will be affected
Because possible the price will goes down, investors will take way from crypto hope.
Sorry mate is that only my own opinion about this drama do not be offend😀😀😀

niisarearning

sr. member

Activity: 910

Merit: 252

Quote from: Ailmand on May 13, 2019, 10:34:01 AM

I haven't been affected personally because I'm keeping my holdings on a hard wallet but I'm also sure that it has a negative effect on people these days. Some users have lost their trust in that exchange. Hackers now focus on hacking different exchanges but we should be smart enough to keep our holdings safe as investors and traders.

I have effected in cryptopia hack were i lost some of my ether after theat i dint dare to keep much fund in exchanges . So that in binance hack it was not much effected my account . Now we have to follow Proof of key concept.

sushil7045

newbie

Activity: 32

Merit: 0

cryptocurrency exchange hacks are real, any exchange can be hacked, though i think the recent Binance hack was not that bad because it didn't had any negative effect on the price of bitcoin, the reason behind that was it was nicely handled by CZ and Binance team

Ecology

newbie

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I was notified an attempted hack into a forgotten wallet which I no longer have the securiy access.

I was abit amused by this incident. Cheesy

AmoreJaz

legendary

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Leading Crypto Sports Betting & Casino Platform

Quote from: johanesrobin on May 14, 2019, 05:23:27 PM

Quote from: xvids on May 13, 2019, 06:00:19 PM

What if those hacks are actually an inside job?
What if those are just a show to create FUD?
Just imagine those exchange are making an insane amount of profit but they couldn't afford to upgrade their security?

this is worthy of research, some exchangers continue to be attacked by hackers with huge losses. Binance has a good reputation but they have a security gap so they can be hacked.
and I feel strange, every time there are hacking cases no perpetrators are arrested or become suspects. this is a big question, who is the perpetrator of this case?

perpetrators are hard to catch especially if its an inside job.
but even if it isnt, hackers are still difficult to trace. they know what theyre doing. so they will not leave tracks.
im sure bnb is not an inside job but security flaws. now that they experienced it, i hope they will allocate more budget on this department. they have money anyway

johanesrobin

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Activity: 658

Merit: 100

Quote from: xvids on May 13, 2019, 06:00:19 PM

What if those hacks are actually an inside job?
What if those are just a show to create FUD?
Just imagine those exchange are making an insane amount of profit but they couldn't afford to upgrade their security?

this is worthy of research, some exchangers continue to be attacked by hackers with huge losses. Binance has a good reputation but they have a security gap so they can be hacked.
and I feel strange, every time there are hacking cases no perpetrators are arrested or become suspects. this is a big question, who is the perpetrator of this case?

Ultimist

full member

Activity: 812

Merit: 102

Fortunately, I never suffered from hacks of the exchange and did not lose my money. I think that after 2018 the situation with hacks will be solved. Exchanges will now be more attentive to security.

misterjo

member

Activity: 560

Merit: 10

despite the hacks I think the exchanges have been improving security enough to prevent major hacks like mt.gox, they are also looking for decentralization!

liss sa

newbie

Activity: 59

Merit: 0

I used to lose money but on a small exchange in Korea in 2018. Although there are many hacks, I still believe in big exchanges like binance, houbi, ... And the important thing is us make the best asset security is possible.

yoseph

sr. member

Activity: 868

Merit: 266

All of my bitcoins have been stored in my blockchain wallet and as such, i have never been a victim of any of these hacks, But we should know that crypto exchanges hacking is never going to stop, Hackers know that they are going to get a huge payday if their hacks are successful and because of that they are never going to stop.

wattcrypto

jr. member

Activity: 247

Merit: 1

Binance is a leading example of an exchange imo. Yes they were hacked but how they handled it and continue to handle the situation with compliance companies such as ciphertrace with AML and KYC is what will set them apart. Security will keep getting stronger and better, take this as a lesson learned.

marcbitcoins

full member

Activity: 854

Merit: 108

Quote from: darylalban on May 13, 2019, 08:25:54 AM

https://bitcoinist.com/top-5-biggest-crypto-exchange-heists-in-history/

I found this article interesting discussing how the recent Binance hack is 6th worst hack among 5 others that have happened in the history of BTC and crypto. According to Ciphertrace 2018 was the works year of exchange hacks comparatively to all other years maybe because of the bear market?

Were any of you affected? I can tell the general sentiment about exchanges... do you think matters are getting better or worse for crypto?

Everytime i heard a news about crypto exchanges that being hacked i feel very sorry of it because the hackers will surely sell those stolen coins making the crypto market price to fall again as these guys did not stole to hold but to get some instant money. This is not good and worse for crypto which is hopefully that the other exchanges will be warned and must strengthen their wall securities.

iamMhew

full member

Activity: 688

Merit: 101

The Government should make a standard rules and regulations on returning back the assets stolen.
It shouldn't be reached in a trail court level, a strict laws that might be apply same as the banks.
Like an insurance written on the T&D for both of the exchange firm and the trader.

rmilly

jr. member

Activity: 312

Merit: 1

Do you think it has to do with the way customers are storing their funds? I feel like time and time again we are told to keep everything off hot wallets and to diversify funds.

On the opposite end I think exchanges are learning the holes in their system and trying to fix these issues soon so they don't ever happen again. Compliance, security layers and just general education to the public

Pagri

jr. member

Activity: 112

Merit: 2

Unfortunately I have suffered a couple of times the loss of cryptoassets due to the hacking of exchanges: a couple of years ago in etherdelta, and more recently in Cryptopia. But unfortunately I think that we are very far from finding a definitive solution to this problem, so that exchanges and users must take all the necessary measures to reduce the risks.

It is true that this in the end is always reflected in the costs that have to be assumed to increase the protection measures, but there does not seem to be too many options in a field as vulnerable as the crypto-universe.

xvids

sr. member

Activity: 1176

Merit: 301

What if those hacks are actually an inside job?
What if those are just a show to create FUD?
Just imagine those exchange are making an insane amount of profit but they couldn't afford to upgrade their security?

snowyNNN

sr. member

Activity: 422

Merit: 251

Pasl [Xci-r.i.p.] Eth Zcl Kmd Zen Rep Xmr Sc Neo

I believe most MtGox's stolen Bitcoin has been sold quietly over the years...

BUT what is the state of the 120K BTC that was taken from Bitfinex in 2016? Huh

Does anyone have info on those? Huh

?

sheenshane

legendary

Activity: 2520

Merit: 1233

It is really an expensive lesson to learn for the CEO and the team of Binance. In the 40m, they have successfully identified their weak points and recognized it and solve it quickly. However, it would look like they paid a 40M to make their platform safeguard with the hackers.

Well, just like Amazon, if you have a big market volume, you will probably lose billions of billions of dollars for the failures and insecurities. But, at that point, you will identify our weaknesses and make it a long term strength.

smartbitcoininvestor

sr. member

Activity: 652

Merit: 257

The main Bitcoin crypto exchange heist that I know of in history is Mt. Gox.

ololajulo

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Activity: 2240

Merit: 270

SOL.BIOKRIPT.COM

Mt.Gox should be considered the biggest exchange hack in history if we consider the quantity of bitcoin stolen to value of bitcoin as of today. It is challenging that every top exchanges must go through this at a point in their service. Sometimes I like to think it might be sponsored from other exchanges that envied them but they will still need inside link, which is the most difficult thing to control.

Topic: 5 Biggest Crypto Exchange Heists in History (Read 407 times)