After the Binance hack event, the deposit and withdrawal procedures were closed. With the explanation of the CZ rollback, it scared investors more than hacking.
It seems like a way to anticipate temporarily so that there are no transactions for a while. It seems like the time set is 1 week can not make withdrawals and deposits. Just believe and believe in Binance, everything will be resolved, of course. 
Topic: After Binance have been compromised. - page 5. (Read 794 times)
Decentralized exchanges is cool if the issue of liquidity and interoperability can be solved but without getting solutions to them, decentralized exchange will continue to be second option to traders
After the Binance hack event, the deposit and withdrawal procedures were closed. With the explanation of the CZ rollback, it scared investors more than hacking.
If volumes appear on decentralized exchanges, they (exchanges) will also be hacked. Or there will be attempts to deceive users of such exchanges (fishing). But in this case, there will be no hope of compensation for damages to the victims.
Even though they had been compromised the users, did you know that the funds of the users are safe? So you got nothing to worry about the exchange.
Definitely the point, haven the victims to be rewarded according to their looses means alot to their esteem customers. No other exchnage has though it wise to compensate their victims the way Binance are going about it, so, people will still embrace Binance.
And now what is your opinion about decentralized exchanges after this event? I think people will finally consider the DEXes more seriously. 
Still people will use Binance. After the incident maybe some will shift exchange for this but always remember how Binance can bring back its users. Also, I dont think they wanted this to happened as well. Binance will compensate all the loss funds and thr DEXes never do that ever in history right? If you use dex and something was compromised you think they will return a single dime in youre account? Dont think so! At least Binance fan fixed what they have been mistakenly do.
I don't think this story is going to compromise decentralized exchanges, they offer a good service and if something goes wrong, users can appeal to authorities to punish the exchange, what I suppose doesn't happen in peer to peer exchanges.
And now what is your opinion about decentralized exchanges after this event? I think people will finally consider the DEXes more seriously.
Still people will use Binance. After the incident maybe some will shift exchange for this but always remember how Binance can bring back its users. Also, I dont think they wanted this to happened as well. Binance will compensate all the loss funds and thr DEXes never do that ever in history right? If you use dex and something was compromised you think they will return a single dime in youre account? Dont think so! At least Binance fan fixed what they have been mistakenly do.
Sad news. I think we should not play off such hack. We all must come together to seek ways to end such incidents. One thing I am not understanding is that hacking of crypto exchanges have occurred in the past too. Is not there strong way to protect funds in exchanges so hackers cannot penetrate? As such incidents have happened and are happening, all exchanges and holders should be aware enough, and keep their assets safe.
Yes, DEX sometimes has some advantages. It remains to solve issues with liquidity and cross-blockchain.
I like IDEX: relatively good liquidity, a reward for trading every quarter.
I like IDEX: relatively good liquidity, a reward for trading every quarter.
I think people will finally consider the DEXes more seriously.
Some probably will but it doesn't mean that most will consider DEXs. People are looking for security and wanting to have a better service and it's okay for them to use centralized exchanges because they have a nice support that they can address issues that they might experience in the future. There are people that prefer to get in to DEXs than centralized one and I'm neutral on this. Op can you tell us why you think that more people will seriously consider DEXs just because of the recent hack? 
If you don't store many coins on your exchange account also decentralized exchanges should be ok.
You have always to note that exchanges can be hacked and if you have all your coins there it's clear that it won't be a wise decision.
You have always to note that exchanges can be hacked and if you have all your coins there it's clear that it won't be a wise decision.
I think that this should have happened, because today we understand that a lot of exchanges were hacked, but Binance was not hacked earlier, so they did it now, this once again confirms the idea that there is nothing 100% guaranteed.
Binance was hacked in the past but they did refund all damaged accounts (funds were safu)
I think that this should have happened, because today we understand that a lot of exchanges were hacked, but Binance was not hacked earlier, so they did it now, this once again confirms the idea that there is nothing 100% guaranteed.
Binance announced that they are going to refund all the lost amount so it is not going be a big concern for the people to choose other exchanges.
I don't think this's all about Refund or Not. It's all about "safety" while we trade.And Yes, absolutely agree this's not big concern (in binance case)
And now what is your opinion about decentralized exchanges after this event? I think people will finally consider the DEXes more seriously.
Both Centralized and Decentralized have good and bad sides, and I think depends on us to assess which one is better 
And now what is your opinion about decentralized exchanges after this event? I think people will finally consider the DEXes more seriously.
Binance announced that they are going to refund all the lost amount so it is not going be a big concern for the people to choose other exchanges.
Consider OKEx or Huobi if you don't want to use Binance anymore. DEX is the ultimate exchange that each crypto investor would want, however, people don't have the tendency to use decentralized exchanges for now (because of volume, tech...). Btw, there're some theories that Binance wasn't hacked, it's just a FUD creating by themselves.
Now a days this kind of news are not new and are very often.
2013 (Silk Road)
2014 (MtGox, Cryptsy, Mintpal)
2015 (Bitstamp, Bter)
2016 (Bitfinex)
2017 (Nicehash)
2018 (Coincheck, BitGrail, CoinSecure, Coinrail, Zaif, MapleChange, Pure Bit)
2019 (HitBTC, Cryptopia, Coinmama, Binance)
(courtesy:-https://blog.saturn.network)
and so on.
I think its time to apply diversification on exchanges also. Keeping our investment in different exchanges can at least minimize the losses. Another well known solution is to store in hardware wallets.
Few days ago, I just came across one of the new project called Inzura which is with new concept of "Insurance of cryptocurrencies".
I think we need more such concepts in the market to avoid the situation along with regulations.
2013 (Silk Road)
2014 (MtGox, Cryptsy, Mintpal)
2015 (Bitstamp, Bter)
2016 (Bitfinex)
2017 (Nicehash)
2018 (Coincheck, BitGrail, CoinSecure, Coinrail, Zaif, MapleChange, Pure Bit)
2019 (HitBTC, Cryptopia, Coinmama, Binance)
(courtesy:-https://blog.saturn.network)
and so on.
I think its time to apply diversification on exchanges also. Keeping our investment in different exchanges can at least minimize the losses. Another well known solution is to store in hardware wallets.
Few days ago, I just came across one of the new project called Inzura which is with new concept of "Insurance of cryptocurrencies".
I think we need more such concepts in the market to avoid the situation along with regulations.
I was thinking that you wanted to make a good point but nope you didn't. Even decentralized exchanges can be compromised. The volume rate on decentralized exchanges are not good at all and can't boast the crypto market
Its true that DEX may be safer than any CEX but its just not easy working with it not to mention volume. I have never seen any decentralized exchange that had enough volume to cover one dump of more than a million which the market needs to provide. While we can use DEX from time to time, these CEX won't disappear for us to leave to shutdown just because of they are hackers target.
And now what is your opinion about decentralized exchanges after this event? I think people will finally consider the DEXes more seriously.
There is pretty much only one serious decentralized exchange. BisQ. And even they dont have fully decentralized disputes yet. sing centralized exchanges is way simpler. That is why are still more popular.
Suggest IDEX they trade a good list of coins
https://www.coingecko.com/en/exchanges/idex
https://www.coingecko.com/en/exchanges/idex
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