Another bad news from japan - page 3.

eaLiTy

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Quote from: pitiflin on January 27, 2018, 02:17:04 PM

I don't think that people use coincheck exchange much or even use it at all. I haven't heard much about that exchange.
Now that they have proven to be so careless about user's funds, I don't think anyone would want to risk their money in that exchange. But still stupid people will do.
Thankfully they are refunding their clients their money back and hopefully they should shift to a more secure storage option.
But the fault is also of that of the users who use an exchange to store their coins, thinking to be an wallet which it clearly isn't and you don't even have access to the private keys why in the hell's world would you take such a huge risk?

If people are not using that exchange and how come they were holding over an estimated five hundred million dollars in NEM in their hot wallet,just heard their conversation with the NEM team and it looks like they wont hard fork because of the hack and they blamed the exchange for not using enough security measures to safe guard the coins, i am not sure how they are going to give out that much amount to all the clients.

sujonali1819

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Quote from: sonali2015 on January 27, 2018, 10:20:22 AM

Japanese cryptocurrency exchange Coincheck one of the largest in the country.The NEM coins were stolen on Friday, Jan. 26. https://cointelegraph.com/news/coincheck-stolen-534-mln-nem-were-stored-on-low-security-hot-wallet

Yea! I also saw the bad news.It will become very defficult in the future.Few days ago people suffer Etherdelta hacked problem. Now Japanase exchange hacked and a lot of doller stolen from here.If this will always happen in the future people can not strongly blv any exchange.And we should more secure to take safe ownself.

dunfida

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Quote from: uray on January 27, 2018, 01:08:02 PM

Quote from: sonali2015 on January 27, 2018, 10:20:22 AM

Japanese cryptocurrency exchange Coincheck one of the largest in the country.The NEM coins were stolen on Friday, Jan. 26.

The hack happened because they were incapable of running a exchange ,let alone holding million of dollars worth of coins,they are not even registered with the securities board in Japan and hence they is no insurance and after this incident they are planning to register with them.

You do have source regarding on this claim? its quiet odd that they are not registered with the securities board in japan or in any other terms.? This isnt really a surprising thing which it do make bleed into crypto market which i do eventually wait for that thing to happen.People above saying its still up on some percentage we cant still be sure since we dont even know if those coins are already being sold up already or not and as of now we should really expect effects of it.

creeps

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Quote from: Shishir99 on January 27, 2018, 10:42:04 AM

Quote from: sonali2015 on January 27, 2018, 10:20:22 AM

Japanese cryptocurrency exchange Coincheck one of the largest in the country.The NEM coins were stolen on Friday, Jan. 26. https://cointelegraph.com/news/coincheck-stolen-534-mln-nem-were-stored-on-low-security-hot-wallet

I think these things or hacking news will rise in future also.
These are the just regular Fud in my opinion.
People will be used to with these news in future.But i agree this is a bad news for crypto world.

It affects the whole market of cryptocurrency, but if you look at the price of NEM right now its up by almost 15% this mean that still many people trust this kind of blockchain technology since the problem is on the exchange. Yes, we must be ready when it comes on hacked news because those who are greedy will try to get cryptocurrency easily.

pitiflin

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I don't think that people use coincheck exchange much or even use it at all. I haven't heard much about that exchange.
Now that they have proven to be so careless about user's funds, I don't think anyone would want to risk their money in that exchange. But still stupid people will do.
Thankfully they are refunding their clients their money back and hopefully they should shift to a more secure storage option.
But the fault is also of that of the users who use an exchange to store their coins, thinking to be an wallet which it clearly isn't and you don't even have access to the private keys why in the hell's world would you take such a huge risk?

Haiduongbg

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They must be retarded to keep that much money in the hot wallet. Look at their volume, there is no reason to keep that much money in hot wallet for immediate use.

uray

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Quote from: sonali2015 on January 27, 2018, 10:20:22 AM

Japanese cryptocurrency exchange Coincheck one of the largest in the country.The NEM coins were stolen on Friday, Jan. 26.

The hack happened because they were incapable of running a exchange ,let alone holding million of dollars worth of coins,they are not even registered with the securities board in Japan and hence they is no insurance and after this incident they are planning to register with them.

jackhdt

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You had me worried there because I hold coins in exchanges
"Going forward, Coincheck claimed that it knows the address where the stolen NEM is currently being stored by the hackers, and is hoping to be able to track the culprits" I think it's really hard because this is an anonymous transactions.
This bad news makes the price of NEM decreased 19% within 24 h

trecore4

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Quote from: rjrandy79 on January 27, 2018, 10:50:09 AM

Now we are not safe because few days ago etherdelta hacked and many people lost their asset.I think need to be more security for exchanger or wallet .I am really afraid now and do not trust any exchanger because any time hack any exchanger.what is the solution for this problem??

I think the best way to secure our valued coins is to store it in the ledger wallet for the meantime.

Yes that's the only way to keep your investment safe now a days. There is no best place than a hardware wallet or the wallet for which you hold the private keys.

I have always been warning people and friends to keep the coins, tokens into the private wallet only and see this could happen really.

There is nothing more we can do about such events because it's not in our hands and exchangers are responsible for that. If anything goes wrong then they are responsible for our money because the loss is through hacks which is not our responsibility.

Exchangers advertise themselves with all the security measures they have so that they can earn our trust and let us take in to invest. So I believe this forms their responsibility and we must get refunds like the one they did here.

rjrandy79

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Now we are not safe because few days ago etherdelta hacked and many people lost their asset.I think need to be more security for exchanger or wallet .I am really afraid now and do not trust any exchanger because any time hack any exchanger.what is the solution for this problem??
[/quote]

I think the best way to secure our valued coins is to store it in the ledger wallet for the meantime.

Shishir99

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Quote from: sonali2015 on January 27, 2018, 10:20:22 AM

Japanese cryptocurrency exchange Coincheck one of the largest in the country.The NEM coins were stolen on Friday, Jan. 26. https://cointelegraph.com/news/coincheck-stolen-534-mln-nem-were-stored-on-low-security-hot-wallet

I think these things or hacking news will rise in future also.
These are the just regular Fud in my opinion.
People will be used to with these news in future.But i agree this is a bad news for crypto world.

rjrandy79

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I've read some news that says it is not only nem that was hacked, but also reported stolen xrp.

sonali2015

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Quote from: Xenrise on January 27, 2018, 10:24:52 AM

Quote from: sonali2015 on January 27, 2018, 10:20:22 AM

Japanese cryptocurrency exchange Coincheck one of the largest in the country.The NEM coins were stolen on Friday, Jan. 26. https://cointelegraph.com/news/coincheck-stolen-534-mln-nem-were-stored-on-low-security-hot-wallet

I've heard of this news. And I should say that this news makes cryptocurrency look at pretty bad shape because of another fud rising. Because as we all know, fuds makes a coin or the whole crypto bleed. So is this mean for another bleed? Hmm, I don't know but millions of coins were stolen. Probably the nem will only bleed for a moment or what's worse is the whole crypto might bleed. But that's only a might not certain.

Now we are not safe because few days ago etherdelta hacked and many people lost their asset.I think need to be more security for exchanger or wallet .I am really afraid now and do not trust any exchanger because any time hack any exchanger.what is the solution for this problem??

rjrandy79

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Just like what happen to mt. gox. History repeats itself.

KennyR

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Recently a large sum of ethereum funds got frozen. Later bitcoins got stolen from some exchanges. Now once again an issue with exchanges has been taking place. That too happening in a country which has been a good supporter of cryptocurrency decreases the reputation of cryptocurrency usage among the people.

MasterMoney

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If it is real then it is necessary to get out of the NEM quickly because it is likely that its value will decrease, other coin is also at risk. Should expect the floor must have good security. Cry

aoihs00

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It seems like crypto stealing cases are increasing a lot these days. However, its a bad news for the crypto exchanger owner but not for the owners of those NEM who got affected.

The owner of exchanger clear stated that they will refund the whole money to their customers and they will keep running the exchangers even after such big loss!

Quote

When asked whether they are going to resume operations or will have to declare bankruptcy, Coincheck said that ‘in principle’ they plan to keep operating.

Thats the principle of strong exchanger and I believe that after this incidence if they really refund the money and keep going on then they will have more people coming onto their exchanger due to great positive publicity. This exchanger will actually have more user than the previous one because people feel secure when the words are very strong from the institutes.

This doesn't seem to be affecting the other crypto market, because if it would have been affecting already then we would have seen the down surge already.

Xenrise

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Quote from: sonali2015 on January 27, 2018, 10:20:22 AM

Japanese cryptocurrency exchange Coincheck one of the largest in the country.The NEM coins were stolen on Friday, Jan. 26. https://cointelegraph.com/news/coincheck-stolen-534-mln-nem-were-stored-on-low-security-hot-wallet

I've heard of this news. And I should say that this news makes cryptocurrency look at pretty bad shape because of another fud rising. Because as we all know, fuds makes a coin or the whole crypto bleed. So is this mean for another bleed? Hmm, I don't know but millions of coins were stolen. Probably the nem will only bleed for a moment or what's worse is the whole crypto might bleed. But that's only a might not certain.

sonali2015

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Japanese cryptocurrency exchange Coincheck one of the largest in the country.The NEM coins were stolen on Friday, Jan. 26. https://cointelegraph.com/news/coincheck-stolen-534-mln-nem-were-stored-on-low-security-hot-wallet

Topic: Another bad news from japan - page 3. (Read 380 times)