Binance freezes stolen Cryptopia funds

coinnumber

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Quote from: CloudFarm on January 17, 2019, 01:32:17 AM

Cryptopia hacker moves stolen crypto to Binance; Community alerts Changpeng Zhao (Binance CEO) and Funds Are Frozen.

"Just checked, we were able to freeze some of the funds. I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It’s a high risk maneuver for them."
— CZ Binance (@cz_binance) January 16, 2019

This is indeed a great news and big development in the cryptospace may exchanges has been hacked and they all succeeded I believed if what Binance just started continue with other exchanges the image of bitcoin and blockchain will be highly protected as this will reduce the rate of scam and give the news investors to take part without much fear of been scam.

Malam90

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This hacker may be is a nonsense. He has hacked and stolen funds from Cryptopia to Binance. There are a lot of ways to exchange funds but all actions has an end. Thanks social media for reporting quickly. Binance team has frozen that hackers funds. Its a good achievement from Binance team.

Gibreil

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Quote from: ranman09 on January 17, 2019, 04:15:21 AM

So binance can freeze your account? hmm.. okay then back to the subject, how come they send the funds straight to binance not considering that they can be traced? Considering the fact that they HACKED an exchange. They must have known that.

Do I have misunderstanding in this news? Why they will freeze accounts? If there could be an attack to their exchange, they could make any wall to interrupt some interceptions of hackers. They must have a strong internal system just to protect their costumers and investors from hacks. Binance is famous exchange and they must show to the people that they are trusted exchange.

ilbahja

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explorer of cryptocurrency world

This is a good and clever move from Binance, that's not surprising, a good legit exchange platform must do something similar.

this hackers can't be so stupid, may be a way to get more birds with one stone.

but Binance must take into consideration that not every owners of these receiving addresses can be in relation with this hackers.

pooya87

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Quote from: adrianto1995 on January 19, 2019, 10:30:49 PM

Wut, really ??
Never realize that Binance can freeze user funds. ~

why are you surprised?!!! that is how a centralized platform works after all! you give them your coins and they gain the full control over your money and can decide whether to give it back to your or not. that is why people keep saying don't leave your coins on exchanges and silly things like "proof of keys" exists in the social media.

adrianto1995

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Wut, really ??
Never realize that Binance can freeze user funds. But, I personally don't think sure these damn hackers really want to move their stolen funds to another bigger exchange like Binance, it's probably easy to track. Hackers not stupid, I'm sure they have a plan to enjoy their stolen funds from cryptopia...

bitcoinsc

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It's a good move on binance. But if u think real hard it's kind of a centralize system again. While decentralized u can freely do what u want. But if this is security at the next level I'm with it.

dimastegar

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Small Trader

it is a Very good move by Binance. A really good work to at least reduce loss when there is an exchanger hack that can happen at any time.

Bloodseekers

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That statement so great, that's why i only love trading in binance. cryptocurrency can be tracked, and binance freezes it, prevent them from making a profit but that's means can to trade so will reduce the total supply in circulation. If all exchanges, work together not to accept the hacked funds, crypto world will be better

figmentofmyass

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Quote from: aoluain on January 18, 2019, 05:33:39 PM

Good move by Binance, silly mistake by the hacker, mixing would have
been the way to go

how do you mix millions of dollars worth of ERC20 tokens? there are no mixing services for dentacoin, lol. their best bet was to quickly wash those funds through an exchange in hopes that they could do it before the exchange noticed.

CZ said binance was only able to freeze some of the funds, so it was at least a partial success for the hacker. for all we know, the hacker also sent coins to kucoin, hitbtc, livecoin, etc and got away scotch free.

romero121

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Casinopunkz - Anonymous Crypto Casino

Quote from: Burogh on January 18, 2019, 08:18:25 PM

I think its good for crypto community. This indicated that we should fight hackers together. If hackers can not sell their stolen coin in any exchange, i am believe hackers wont stealing coin again. Hopely this binance step followed by others exchanger and make cryptomarket become safe market

What Binance has done is the right work. It hasn't frozen the fund of an individual who has the intention to use Binance as a trading platform. With proper understanding about the hack and after the request from cryptopia the funds were freezed. Good work. Unified security development could enhance the usage of cryptocurrencies among people who fear using cryptocurrencies just because of the lack in security and hacks that happens quite often.

imstillthebest

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Quote from: vv181 on January 18, 2019, 08:49:28 PM

This is getting weird, how could possibly an exchange's hacker doesn't know how to remain their anonymity on the spaces, and why would they sent it to Binance with a tainted coin. Ethereum has a coin mixer and DEX, why they don't maximize the benefit of those services. I'm started to think that it may possibly an inside job, or a person that extremely uneducated about cryptocurrencies but somehow got access to Cryptopia system.

Hackers were verry smart people and i know that they know how to use mixers but they didnt use it . this isnt also the case that i saw someone got hack but the hacker did imediately send the funds to his own wallet . they didnt care at all if they are being traced or not because what important for them is that they already withdrew the money . they might use another address again for another transactions .

vv181

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This is getting weird, how could possibly an exchange's hacker doesn't know how to remain their anonymity on the spaces, and why would they sent it to Binance with a tainted coin. Ethereum has a coin mixer and DEX, why they don't maximize the benefit of those services. I'm started to think that it may possibly an inside job, or a person that extremely uneducated about cryptocurrencies but somehow got access to Cryptopia system.

bhadz

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Quote from: Elby on January 18, 2019, 08:07:05 PM

Binance still the best!

I don't think so. Did he just deleted this?
https://www.reddit.com/r/CryptoCurrency/comments/agb1w6/cz_responds_to_cryptopia_hack_news/

Burogh

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I think its good for crypto community. This indicated that we should fight hackers together. If hackers can not sell their stolen coin in any exchange, i am believe hackers wont stealing coin again. Hopely this binance step followed by others exchanger and make cryptomarket become safe market

peter0425

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Quote from: tytanhamon04 on January 18, 2019, 03:48:31 AM

Quote from: CloudFarm on January 17, 2019, 01:32:17 AM

Cryptopia hacker moves stolen crypto to Binance; Community alerts Changpeng Zhao (Binance CEO) and Funds Are Frozen.

"Just checked, we were able to freeze some of the funds. I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It’s a high risk maneuver for them."
— CZ Binance (@cz_binance) January 16, 2019

[img].. snip ..

This is of course my assumption but perhaps hackers are trying to spoil the reputation of the exchange or they just thought that the transaction will take place quietly on the exchange with a huge volume in trade.

How can hackers spoil the reputation of Binance? That's too dump move for them to really deposit to Binance because it's one of the most trusted and anything of suspicious can be flagged. They should have move it somewhere else, or hide it. I hope that Binance and authorities are working together so that they can investigate and solve this crime and those guilty can be punished.

Elby

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Binance still the best!

ranman09

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Quote from: UserU on January 17, 2019, 04:59:59 AM

Quote from: ranman09 on January 17, 2019, 04:15:21 AM

So binance can freeze your account? hmm.. okay then back to the subject, how come they send the funds straight to binance not considering that they can be traced? Considering the fact that they HACKED an exchange. They must have known that.

My guess is that they send the funds and liquidate them hopefully before Binance catches wind of the incident.

Not many exchanges could react on time (like Binance).

Agreed. That's what's great with Binance. They are very attentive and is urgent with things. So what they will do to the funds now?

Oceat

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It just so strange that the hacker sends it to Binance, aren't they aware of the watchlist? I wonder if they have another plan on why they have to send it to exchange or maybe it was just a test that hackers did it or total stupidity. Anyway, it's a great job for CZ since he managed to lock down that account.

aoluain

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Good move by Binance, silly mistake by the hacker, mixing would have
been the way to go, I wonder was the transfer just a move while being
exulted in the fact that the hack was successful?
I wonder will Binance be able to relocate the finds back to Cryptopia?

BurgerCash

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Props on all of you public detectives who spammed CZ with the information.
Hopefully the hackers will not only fail to liquidate the assets, but also get caught.

Irvinn

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Quote from: apilpirman.bisnis on January 17, 2019, 02:10:17 AM

Are you sure Binance take freezes their asset, my opinion is not true because Binance is the greatest exchange market and impossible could make freezes balance, we have trust Binance is the best market and have higher secure of quality.

If criminal proceedings are instituted and the investigating authorities have applied to this exchange with an official document on the imposition of arrest on specific cryptocurrency wallets placed on their stock exchange, the exchange must fulfill these legal requirements, or it becomes an accomplice to the committed fraud. Some not very smart scammers caught. Apparently, they quickly wanted to cash the stolen property on another stock exchange, but did not have time. It is very good that this idea they have failed. Too often, hackers began to steal cryptocurrency from various exchanges, this can cause great harm to the cryptocurrency as a whole.

johnleo

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Nice move from binance, it makes their reputation better and imo they are truly supporting crypto community. A bit strange behavior from that hacker, are they really want to stole the money or just make fun to ruin binance reputation? Or maybe this is just bad competition between exchange? Too many question in my mind about this cryptopia hack.

aad140386

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simply getting the job done

I hope that this steps will take all cryptocurrency exchanges to fight hackers in a timely manner. Such actions will help create a healthier crypto community with a high degree of security. True, I have heard that the management of the exchange is also often concerned with the theft of cryptocurrencies from the Cryptopia exchange, which can have a very negative effect on people's attitudes towards the exchanges in general. I hope that everything will be resolved safely, because now there is already quite a lot of negativity regarding cryptocurrencies.

tytanhamon04

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Quote from: CloudFarm on January 17, 2019, 01:32:17 AM

Cryptopia hacker moves stolen crypto to Binance; Community alerts Changpeng Zhao (Binance CEO) and Funds Are Frozen.

"Just checked, we were able to freeze some of the funds. I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It’s a high risk maneuver for them."
— CZ Binance (@cz_binance) January 16, 2019

This is of course my assumption but perhaps hackers are trying to spoil the reputation of the exchange or they just thought that the transaction will take place quietly on the exchange with a huge volume in trade.

Ribbitforum

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Quote from: CloudFarm on January 17, 2019, 01:32:17 AM

Cryptopia hacker moves stolen crypto to Binance; Community alerts Changpeng Zhao (Binance CEO) and Funds Are Frozen.

"Just checked, we were able to freeze some of the funds. I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It’s a high risk maneuver for them."
— CZ Binance (@cz_binance) January 16, 2019

i also read it on twitter, do you think cryptopia could still recover at least 50% of the funds hack

Mr.Ease

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Quote from: ranman09 on January 17, 2019, 04:15:21 AM

So binance can freeze your account? hmm.. okay then back to the subject, how come they send the funds straight to binance not considering that they can be traced? Considering the fact that they HACKED an exchange. They must have known that.

Hey, someones thinking outside the box. Like the bigger question - What happens with these tokens now that they are Frozen IN Binance?

Lol, So are these now Binances tokens now? After some 5year wait time they get forfieted... Wink

ha, I bet some policy like that starts happening in the next few years with exchanges and dormant accounts.

I suppose, one should be happy a hacker didn't profit. But now you have some Multi-Billion $$ daily-volume exchange getting it... fo free Roll Eyes

sunsilk

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Quote from: Warkop on January 17, 2019, 07:20:45 AM

Quote from: sunsilk on January 17, 2019, 04:36:24 AM

Nice maneuver made by Binance and good to see that they were able to track the fund that came from cryptopia. Anyone has an idea on how much that 'some' funds was?

Quote from: Kemarit on January 17, 2019, 04:11:25 AM

So I guess another angle has surface, perhaps it was a inside job or something. Let's see how it pans out.

Or he was just too careless and confident that the funds he stole will never be tracked by Binance. But good to see that Binance do act with such hackings once it penetrated to their exchange addresses.

Maybe I think that way, the thief is too stupid and doesn't know that the Binance system exchange is very good for that. Yes, hopefully the Binance system will continue like this so that users who trade at Binance will be very safe from thieves.

I have read and understood what happened base on what bL4nkcode said.

Quote from: bL4nkcode on January 17, 2019, 08:11:52 PM

Quote from: sunsilk on January 17, 2019, 04:36:24 AM

But good to see that Binance do act with such hackings once it penetrated to their exchange addresses.

Base on some of his tweets, some people on social media did report the transfer to binance and to CZ that's why they act immediately.

The community helped the funds to be traced and followed. Thanks to those tweets and posts of the concerned citizen of those stolen funds. Good to see that they really act accordingly upon knowing that it went through their system.

bL4nkcode

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Quote from: apilpirman.bisnis on January 17, 2019, 02:10:17 AM

Are you sure Binance take freezes their asset, my opinion is not true because Binance is the greatest exchange market and impossible could make freezes balance, we have trust Binance is the best market and have higher secure of quality.

That's why you didn't get a single merit because of your trust on binance Roll Eyes

Quote from: sunsilk on January 17, 2019, 04:36:24 AM

But good to see that Binance do act with such hackings once it penetrated to their exchange addresses.

Base on some of his tweets, some people on social media did report the transfer to binance and to CZ that's why they act immediately.

Quote from: Red-Apple on January 17, 2019, 06:37:07 AM

i am more curious about what they are going to do with those coins. are they going to send it back to cryptopia or will they keep it for themselves?

High chance they will give it back to the rightful owners, no reason to keep it as theirs.

Quote from: SCheek on January 17, 2019, 06:31:58 PM

For an exchange, binance is proving to be a very secure option for security.

They might be the most secured exchange today but it doesn't mean that the site can't be hacked.

allthebitandbobs

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Quote from: romelitounknown on January 17, 2019, 12:16:12 PM

Quote from: mlsbd on January 17, 2019, 10:21:47 AM

Quote from: romelitounknown on January 17, 2019, 07:19:23 AM

Lol I don't think hackers would put their stolen coins immediately to other exchanges like Binance. What do you think of those hackers, a child? Hackers were genius and you cannot trick them.

I think it's actually happened because binance is the highest trustworthy exchange.
Yeah hacker is very clever man, he never do childish activities?
Without transferred in other exchange how convert this token like BTC or ETH.

If i were the hackers i would store my stolen coins immediately on my hard wallet like ledger nano. I would wait the situation to cool down before i gradually transfer my coins spreading to 4 or 6 exchanges. If you rob a bank would you immediately deposit the stolen money into other bank?

nan you had to be more clever than that. the addresses would be watched like a hacked no matter how long you waited.T he only way to do it is keep mixing it with clean etherum sending it from etherum wallet to etehrum wallet with clean funds getting mixed through the whole time.Th en afterward use something like shapeshift to monero . Move the monero around the few times then back to bitcoin then cash out Grin

HiDevin

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so.. hru?

What was the reason for hacking Cryptopia just to deposit it into another exchange? Is the hacker a retard?
Maybe the hack against Cryptopia is fake and the owners were just trying to send the coins to Binance to rake in their profits and shutdown the site.
But I doubt it considering that Cryptopia although slow with customer reports has been around for years.

SCheek

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For an exchange, binance is proving to be a very secure option for security.

pityunbent

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Imagine being so smart and hacking bitcoins from the exchange but then being so dumb and sending those in large amounts in the biggest exchange in the market Huh

squatter

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STOP SNITCHIN'

Quote from: pooya87 on January 17, 2019, 02:21:57 AM

that is a very strange move by the hacker! there are already many ways to exchange coins with each other and there is also mixing techniques that could be used to make it harder and even impossible to trace the coins!

I read that most of the assets were ERC-20 tokens -- probably very hard to mix due to lack of market liquidity. I imagine the hacker was hoping to quickly wash the coins, withdrawing fresh coins from Binance that they could easily sell elsewhere. With everyone bound to be watching Cryptopia's wallets sooner than later, I'm sure they wanted to wash them quickly.

thesmallgod

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Quote from: Red-Apple on January 17, 2019, 06:37:07 AM

it looks like Binance is using this chance to advertise their own exchange as much as they can! so far they have been so active after this hack and have been all over the news with their "warnings" about not leaving your coins on exchanges and now this one talking about how they froze coins there were deposited.

i am more curious about what they are going to do with those coins. are they going to send it back to cryptopia or will they keep it for themselves?

I dont think binance we do this for publicity stunt. Binance has made their name for a long time and I do not believe they are lying.

tenakha

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I do not understand why they act like that. How is it possible that protected exchange hackers sent stolen money to the central exchange as an illogically. IMO there is an incomplete gap.
On the other hand, if you pay attention, exchanges can manage account as they wish. I am not on the side of hackers but this is proof that these exchanges can take away our freedom.

romelitounknown

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Quote from: mlsbd on January 17, 2019, 10:21:47 AM

Quote from: romelitounknown on January 17, 2019, 07:19:23 AM

Lol I don't think hackers would put their stolen coins immediately to other exchanges like Binance. What do you think of those hackers, a child? Hackers were genius and you cannot trick them.

I think it's actually happened because binance is the highest trustworthy exchange.
Yeah hacker is very clever man, he never do childish activities?
Without transferred in other exchange how convert this token like BTC or ETH.

If i were the hackers i would store my stolen coins immediately on my hard wallet like ledger nano. I would wait the situation to cool down before i gradually transfer my coins spreading to 4 or 6 exchanges. If you rob a bank would you immediately deposit the stolen money into other bank?

deisik

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Quote from: Kemarit on January 17, 2019, 04:11:25 AM

Quote from: pooya87 on January 17, 2019, 02:21:57 AM

that is a very strange move by the hacker! there are already many ways to exchange coins with each other and there is also mixing techniques that could be used to make it harder and even impossible to trace the coins! i am wondering why someone who were able to "hack an exchange" doesn't already know this!
was it an inside job by a dumb employee who got access to the keys?!

Exactly, why would a supposed to be intelligent and smart hacker/s will simply move the tainted coins to a exchange, not just any exchange for that matter, but the top exchange we have right now. LOL. It doesn't really makes any sense. Even a casual crypto enthusiast knows how to used mixing services or tumbler to obscure the finger prints. So I guess another angle has surface, perhaps it was a inside job or something. Let's see how it pans out

And if it was an inside job, what difference does it make then? If someone was wise enough to pull it off, the same question should be asked, i.e. why move funds to an exchange which is known to freeze allegedly stolen funds in the past? As a conspiracy theory, let's assume that it is an event or act in some bigger play, which may not have to do anything with stealing coins. So it could be someone going after Cryptopia but without the intention of actually stealing money from it (i.e. without hurting their clients in a big way)

What d'ya think?

winstonchurchillwar

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I think that hackers are not upset that the developers of the exchange will find their account on the exchange. Let's hope people get their money back.

mlsbd

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Quote from: romelitounknown on January 17, 2019, 07:19:23 AM

Lol I don't think hackers would put their stolen coins immediately to other exchanges like Binance. What do you think of those hackers, a child? Hackers were genius and you cannot trick them.

I think it's actually happened because binance is the highest trustworthy exchange.
Yeah hacker is very clever man, he never do childish activities?
Without transferred in other exchange how convert this token like BTC or ETH.

crzy

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Quote from: romelitounknown on January 17, 2019, 07:19:23 AM

Lol I don't think hackers would put their stolen coins immediately to other exchanges like Binance. What do you think of those hackers, a child? Hackers were genius and you cannot trick them.

Yeah, but at least Binance is making some action onto this incident and its good since exchanges are doing well in terms of helping other exchanges to solve problem like this. Of course not all coins are being transferred to binance, this is just a simple way to get the money back to cryptopia. Hackers will suffer soon, because in real life this is a sin.

mlsbd

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More than 30,000 Metal(MTL) token transferred in Binance trx link: https://etherscan.io/tx/0x5628143fc59955a6f4b3f461db79d2a3305c901dff5615c38f13c884ee494a38

maianh09

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Quote from: CloudFarm on January 17, 2019, 01:32:17 AM

Cryptopia hacker moves stolen crypto to Binance; Community alerts Changpeng Zhao (Binance CEO) and Funds Are Frozen.

"Just checked, we were able to freeze some of the funds. I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It’s a high risk maneuver for them."
— CZ Binance (@cz_binance) January 16, 2019

I realized that stealing Crypto from the exchanges was becoming more and more difficult when the floors were all linked, based on the hash of the transactions, they could freeze them not to put on the exchange floor. , it is like a restriction. Also what's going on like a particular scenario is about to happen.

kramchers

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This is a big clap for the Binance team and owner as they prevent the victory for the hacker of cryptopia.
This will make the users of the said exchange in good situation now and hope everything will be back on their respective owner.

esetop01tryba

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Quote from: apilpirman.bisnis on January 17, 2019, 02:10:17 AM

Are you sure Binance take freezes their asset, my opinion is not true because Binance is the greatest exchange market and impossible could make freezes balance, we have trust Binance is the best market and have higher secure of quality.

We are not talking about what Binance stole the coins. Have in mind that fraudsters transferred the money to the exchange Binance and, in turn, Binance
frozen account. I think that the exchange developers have done, they could save the coins people who were deceived.

Pursuer

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Quote from: IgorShumilo on January 17, 2019, 06:27:06 AM

This is why "crypto is a money laundering machine!" narrative is not true. Binance has been freeze funds sent by Cryptopia hackers, it is very easy to tag suspicious transaction on the public blockchain network.

to launder money you don't use a currency, you use a business that you can put your money in and mix it with clean money that is coming from the revenue of that real business and get the bigger outcome of the mixed money out and also pay the taxes on it to thro off the investigators and have clean money.
using cryptocurrency does none of that and that is why it is a foolish thing to call it "money laundering machine".

Warkop

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Quote from: sunsilk on January 17, 2019, 04:36:24 AM

Nice maneuver made by Binance and good to see that they were able to track the fund that came from cryptopia. Anyone has an idea on how much that 'some' funds was?

Quote from: Kemarit on January 17, 2019, 04:11:25 AM

So I guess another angle has surface, perhaps it was a inside job or something. Let's see how it pans out.

Or he was just too careless and confident that the funds he stole will never be tracked by Binance. But good to see that Binance do act with such hackings once it penetrated to their exchange addresses.

Maybe I think that way, the thief is too stupid and doesn't know that the Binance system exchange is very good for that. Yes, hopefully the Binance system will continue like this so that users who trade at Binance will be very safe from thieves.

romelitounknown

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Lol I don't think hackers would put their stolen coins immediately to other exchanges like Binance. What do you think of those hackers, a child? Hackers are genius and you cannot trick them.

clonely

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This is a positive situation. I like Binance being very sensitive about it. Even if they had a blind eye for a while, these thieves would use it.

pilosopotasyo

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Quote from: Johnzky on January 17, 2019, 07:11:26 AM

Quote from: pooya87 on January 17, 2019, 02:21:57 AM

that is a very strange move by the hacker! there are already many ways to exchange coins with each other and there is also mixing techniques that could be used to make it harder and even impossible to trace the coins! i am wondering why someone who were able to "hack an exchange" doesn't already know this!
was it an inside job by a dumb employee who got access to the keys?!

You got the right point mate,being a hacker of a exchange (in which not so easy job to do)it is impossible that the hacked coins will be transferred in some places that has a capabilities of freezing or even holding the amount

For me this thread is not reliable since you’re correct again that they can use atleast mixing site to keep the hacked coins safer for them.this is not considerate

Very interesting and I agree if I am a hacker I will do mixing techniques to make it untraceable, they are so hurrying to convert these tokens to fiat money, that they undermined the whole scenario, it was almost a complete heist until they blunder doing a simple thing.

Johnzky

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Quote from: pooya87 on January 17, 2019, 02:21:57 AM

that is a very strange move by the hacker! there are already many ways to exchange coins with each other and there is also mixing techniques that could be used to make it harder and even impossible to trace the coins! i am wondering why someone who were able to "hack an exchange" doesn't already know this!
was it an inside job by a dumb employee who got access to the keys?!

You got the right point mate,being a hacker of a exchange (in which not so easy job to do)it is impossible that the hacked coins will be transferred in some places that has a capabilities of freezing or even holding the amount

For me this thread is not reliable since you’re correct again that they can use atleast mixing site to keep the hacked coins safer for them.this is not considerate

Jating

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Quote from: UserU on January 17, 2019, 04:59:59 AM

Quote from: ranman09 on January 17, 2019, 04:15:21 AM

So binance can freeze your account? hmm.. okay then back to the subject, how come they send the funds straight to binance not considering that they can be traced? Considering the fact that they HACKED an exchange. They must have known that.

My guess is that they send the funds and liquidate them hopefully before Binance catches wind of the incident.

Not many exchanges could react on time (like Binance).

I agree. That's why Binance is on top of the game right now. They are really attentive and their operational support is top notch. If you guys remember, they foil a hack like months ago and actually the hackers lost some money as well.

Anyways, it looks like the investigating is rolling and it's not a matter of time before they can identify the culprit or many new developments may appear in the next coming days.

MFahad

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Quote from: joseyphil82 on January 17, 2019, 01:44:06 AM

Haha! Right about time ,binanace did great ,if this continues hackers won't be able to steal from one exchange and sell on the other ,I think what we lack in cryptocurrency space is having each others back ,I've been hearing news of kidnappers demanding for bitcoin for ransom payments ,they don't know that its trackable ,let's keep scammers and hackers off crypto world and that would build a strong trust

This shows the immaturity of the hackers who are in a hurry to sell the stolen funds. If they were a little wise, they would have been not doing these childish act and keep the stolen tokens and coins in the offline wallets. Once the things are clear , they could have sell it at good prices.

Red-Apple

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it looks like Binance is using this chance to advertise their own exchange as much as they can! so far they have been so active after this hack and have been all over the news with their "warnings" about not leaving your coins on exchanges and now this one talking about how they froze coins there were deposited.

i am more curious about what they are going to do with those coins. are they going to send it back to cryptopia or will they keep it for themselves?

IgorShumilo

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This is why "crypto is a money laundering machine!" narrative is not true. Binance has been freeze funds sent by Cryptopia hackers, it is very easy to tag suspicious transaction on the public blockchain network.

bitfocus

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that is a very good and bold step from Binance authority!

Pablito89

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This is a smart move. Freezing doesn't mean they will take any action.
But it is great that Binance is taking it seriously, let's see what happens.

UserU

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Quote from: ranman09 on January 17, 2019, 04:15:21 AM

So binance can freeze your account? hmm.. okay then back to the subject, how come they send the funds straight to binance not considering that they can be traced? Considering the fact that they HACKED an exchange. They must have known that.

My guess is that they send the funds and liquidate them hopefully before Binance catches wind of the incident.

Not many exchanges could react on time (like Binance).

sunsilk

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Nice maneuver made by Binance and good to see that they were able to track the fund that came from cryptopia. Anyone has an idea on how much that 'some' funds was?

Quote from: Kemarit on January 17, 2019, 04:11:25 AM

So I guess another angle has surface, perhaps it was a inside job or something. Let's see how it pans out.

Or he was just too careless and confident that the funds he stole will never be tracked by Binance. But good to see that Binance do act with such hackings once it penetrated to their exchange addresses.

ranman09

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So binance can freeze your account? hmm.. okay then back to the subject, how come they send the funds straight to binance not considering that they can be traced? Considering the fact that they HACKED an exchange. They must have known that.

Kemarit

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Quote from: pooya87 on January 17, 2019, 02:21:57 AM

that is a very strange move by the hacker! there are already many ways to exchange coins with each other and there is also mixing techniques that could be used to make it harder and even impossible to trace the coins! i am wondering why someone who were able to "hack an exchange" doesn't already know this!
was it an inside job by a dumb employee who got access to the keys?!

Exactly, why would a supposed to be intelligent and smart hacker/s will simply move the tainted coins to a exchange, not just any exchange for that matter, but the top exchange we have right now. LOL. It doesn't really makes any sense. Even a casual crypto enthusiast knows how to used mixing services or tumbler to obscure the finger prints. So I guess another angle has surface, perhaps it was a inside job or something. Let's see how it pans out.

UserU

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While Binance has done this several times prior to this incident (e.g. Bitgrail), it might not deter the hackers much since they could just sell them off elsewhere.

CloudFarm

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This case is very strange ... Let's wait.

coinwizard_

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Most Advanced Crypto Exchange on the Blockchain

It can't be a pro hacker, they would have mixed it and used decentralised exchanges instead. This indicates that the theft was a inside job by one of the password keepers

pooya87

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that is a very strange move by the hacker! there are already many ways to exchange coins with each other and there is also mixing techniques that could be used to make it harder and even impossible to trace the coins! i am wondering why someone who were able to "hack an exchange" doesn't already know this!
was it an inside job by a dumb employee who got access to the keys?!

apilpirman.bisnis

member

Activity: 504

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Are you sure Binance take freezes their asset, my opinion is not true because Binance is the greatest exchange market and impossible could make freezes balance, we have trust Binance is the best market and have higher secure of quality.

joseyphil82

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Haha! Right about time ,binanace did great ,if this continues hackers won't be able to steal from one exchange and sell on the other ,I think what we lack in cryptocurrency space is having each others back ,I've been hearing news of kidnappers demanding for bitcoin for ransom payments ,they don't know that its trackable ,let's keep scammers and hackers off crypto world and that would build a strong trust

CloudFarm

jr. member

Activity: 59

Merit: 4

Cryptopia hacker moves stolen crypto to Binance; Community alerts Changpeng Zhao (Binance CEO) and Funds Are Frozen.

"Just checked, we were able to freeze some of the funds. I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It’s a high risk maneuver for them."
— CZ Binance (@cz_binance) January 16, 2019

Topic: Binance freezes stolen Cryptopia funds (Read 17399 times)