Cryptocurrency exchanges are constantly exposed to hacker attacks. But I think that someone who works on these exchanges is stealing.
It is unlikely that Bancor hacked a hacker who is not related to the exchange
Topic: Bancor has been hacked. 24,984 ETH (~$12.5M) (Read 156 times)
this is part of the reason why the market is not stable.we need to work so much on security so that things will get better.
Bancor has been hacked. 24,984 ETH (~$12.5M), 229,356,645 NPXS (~$1M) and 3,200,000 BNT (~$10M) have been stolen. Bancor was able to freeze the stolen BNT
These hacks, keep happening, security is definitely one of the biggest concerns surrounding crypto, hopefully clients will be made whole, organizations keep stepping up their security game and some of the tokens are recovered
These hacks, keep happening, security is definitely one of the biggest concerns surrounding crypto, hopefully clients will be made whole, organizations keep stepping up their security game and some of the tokens are recovered
Continuing to this, have you guys read about the Bancor Smart Contract audit report, there were many flags which made me decide not to participate during there ICO.
Now, Bancor says they are a decentralized exchange, however, they had the control to freeze stolen BNT (not decentralized at all).
Also, there contract have the capability that gives Bancor control to delete any amount of BNT from any address. Though they say the goodwill comes into picture and it is for security reasons but again this makes them completely centralized.
I personally will never be trusting Bancor Network for trading.
All these hacks are very suspicious. If the fault over which Bancor was hacked belongs to the company, then I consider it prudent to reimburse all funds to its users. Several times they will give money out of their own pocket and immediately make a normal security system. 
I don’t really thing it was a hack. This project had a lot of problem in the past, and do have even more know. I will be not surprised if they are in the deal.
Why Bancor? It has been a troubled project form the very beginning, always overpromising and delivering very little.
Hacks like these really show that regulation and clear legislation is necessary with cryptocurrencies and icos.
Even in the US, with the SEC and it's all encompassing power, can do very little because there is very little legislation actually written about crypto companies.
The only thing it can do, is use already existing laws (like fraud, market manipulation, etc) to hold companies accountable.
If there were more strict regulation on the companies and how they safely handle your and their money, then I can see a drastic decrease in hacking attempts.
Imagine this: these types of hacks happening to a normal bank.
Can you imagine the outcome?
There are numerous laws and resources police and federal agents can use to not only track down the criminals but also actually convict them.
There isn't anything like that in crypto land.
Hacks like these really show that regulation and clear legislation is necessary with cryptocurrencies and icos.
Even in the US, with the SEC and it's all encompassing power, can do very little because there is very little legislation actually written about crypto companies.
The only thing it can do, is use already existing laws (like fraud, market manipulation, etc) to hold companies accountable.
If there were more strict regulation on the companies and how they safely handle your and their money, then I can see a drastic decrease in hacking attempts.
Imagine this: these types of hacks happening to a normal bank.
Can you imagine the outcome?
There are numerous laws and resources police and federal agents can use to not only track down the criminals but also actually convict them.
There isn't anything like that in crypto land.
These hacks, keep happening, security is definitely one of the biggest concerns surrounding crypto, hopefully clients will be made whole, organizations keep stepping up their security game and some of the tokens are recovered
That should be the first concern of everyone. Security must be tighten and these black hat hackers are seriously making robbery as their full time job. This news is terrible and is going to let let the market breed in red in the upcoming days. This is an opportunity to short sell on an exchange that offer margin trading. A good trading idea but bad for the market.
Terrible as it is whenever there's an exchange that is being hacked.And I'm now thinking if this is the cause of the sudden down of the market for awhile.
Bancor has been hacked. 24,984 ETH (~$12.5M), 229,356,645 NPXS (~$1M) and 3,200,000 BNT (~$10M) have been stolen. Bancor was able to freeze the stolen BNT
These hacks, keep happening, security is definitely one of the biggest concerns surrounding crypto, hopefully clients will be made whole, organizations keep stepping up their security game and some of the tokens are recovered
I really hope these things stop i think is the reason most people fear crypto in their on own understandings i just annoying hacker destroying a good cause with such large amount These hacks, keep happening, security is definitely one of the biggest concerns surrounding crypto, hopefully clients will be made whole, organizations keep stepping up their security game and some of the tokens are recovered
And I'm not worried about BANCOR at all. Also on this fall I bought a lot of tokens. I see that the team works very well and i like to work with bancor exchange, it is very comfortable. So I think that BNT will continue to grow this year. And many good projects have been hacked. It just shows interest in the project and makes the project ultimately stronger if the vulnerability is quickly repaired.
This news is terrible and is going to let let the market breed in red in the upcoming days. This is an opportunity to short sell on an exchange that offer margin trading. A good trading idea but bad for the market.
Bancor has been hacked. 24,984 ETH (~$12.5M), 229,356,645 NPXS (~$1M) and 3,200,000 BNT (~$10M) have been stolen. Bancor was able to freeze the stolen BNT
These hacks, keep happening, security is definitely one of the biggest concerns surrounding crypto, hopefully clients will be made whole, organizations keep stepping up their security game and some of the tokens are recovered
Damn, so that's why the bancor developer was creating a backdoor because they can generate the new bancor anytime and freeze the stolen or erase it. But sadly NPXS or any other token that has affected by this hacked case can't recover their amount. lol bancor has been loosing the more ethereum. These hacks, keep happening, security is definitely one of the biggest concerns surrounding crypto, hopefully clients will be made whole, organizations keep stepping up their security game and some of the tokens are recovered
I do know how true this statement is but if is true like the recent hacking of binance then I think hackers are becoming smarter than exchanges and that is very dangerous to be frank.This can be very dangerous for cryptocurrency in general and exchanges have to look for very strong ways of dealing with these things because there is actually a danger.
Well it seems that NPXS is a really target of many hackers, not long ago I see this coin hacked in bithumb and now being hacked in bancor platform.
As we know, there's no system that totally secure so exchanges needs to implement a mechanism that could further tighten their in or out of the funds, maybe manually authenticating one by one.
As we know, there's no system that totally secure so exchanges needs to implement a mechanism that could further tighten their in or out of the funds, maybe manually authenticating one by one.
I think that there was no break-in and Bancor did it themselves in order to attract at least some attention. It seems to me that in the cryptocurrency industry there is not enough service that will detect whether there was a real hacking of the project or not.
I also just read about this news. Well, I did not buy PundiX, I think this news could negatively affect the price. I have the impression that this is a planned hacker attacks and hacks to further ask the price of bitcoin and altcoins.
Bancor has been hacked. 24,984 ETH (~$12.5M), 229,356,645 NPXS (~$1M) and 3,200,000 BNT (~$10M) have been stolen. Bancor was able to freeze the stolen BNT
These hacks, keep happening, security is definitely one of the biggest concerns surrounding crypto, hopefully clients will be made whole, organizations keep stepping up their security game and some of the tokens are recovered
These hacks, keep happening, security is definitely one of the biggest concerns surrounding crypto, hopefully clients will be made whole, organizations keep stepping up their security game and some of the tokens are recovered
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