Topic: Binance Has Been Hacked - Lost 7,074 BTC - page 2. (Read 1626 times)
I used to think that the big stock exchanges were protected from hacking, but I was wrong. This is very sad. I only keep my coins in my wallets. Even large companies with years of experience can make mistakes.
The disk (or server associated with it) was probably an essential part of their system. Looks like the website was up, but trades weren't going through. It looks plausible for me, so I'm not going to grab my tin foil hat for that. What else could have happened? Some people are saying some "hacker" did that, but why? And if funds are #safu, why does it matter?
paranoia from last month's hack i presume. everybody's still on their toes. i guess some people are speculating that an "intruder" in their system was detected which prompted the site being taken offline. people are probably worried that if the site is compromised again so soon, the insurance fund binance set up will have been depleted, leading to account haircuts.
i won't lie, my heart jumped a bit when i saw threads about this. it wouldn't kill me to lose what's in my binance account, but it would certainly sting.
We discussed about security and almost got into heated argument when I made a statement that hackers may hack all other exchanges, but it will be impossible for them to hack Binance even in 100 year’s time, while my friend mentioned one exchange as DOBI being the most secured exchange, the following day of our argument was when I heard that Binance was hacked, I was dumbfounded and could even face my fiends again.
I have kept a few coins on the binance trading , and have not logged in for a long time. binance is a big exchange but still hacked, which shows that everything is not safe for investors
Cryptocurrency investment is generally 80% safe provided we choose the right projects, but in this scenario of Binancehacking, what is not safe is keeping money on exchanges and not everything is cryptocurrency as you think, and if there is anyone to be blamed for this, all blames goes to investors and people like you who have failed to understand that it is not safe to keep funds on exchanges wallet other than our personal wallets, and when the whole thing happens, we will start blaming exchanges, when it was our own personal decision and no exchanges ever imposed it on us. I will advise you log on to your account and move your coins to a private wallet. Already a very long period, the trading platform has been valued due to its security, but today binance is again under question and I am not sure about the safety of my funds on this trading platform.
Today? This was happened a month ago. If your funds is including 7k btc which got stolen by hacker, you will get your money back because binance has said they will pay from their own pocket.
https://www.google.com/amp/s/techcrunch.com/2019/05/15/binance-resumes-trading-following-40m-bitcoin-hack/amp/
Quote
I do not want to think about it, but in such situations I want to lengthen only the administration, which is either involved in all this and has produced its activities to the fact that there was a data leak.
Why the heck admin want to steal their own customer's money? Doesn't make any sense From the same link you posted above:
Quote
Binance will use the #SAFU fund to cover this incident in full. No user funds will be affected.
In as much that their security has been breached, people are not concerned about them using SAFU fund to cover the funds stolen. People will be withdrawing all their coins from their platform to keep their funds safe from any future hacks. Its quite surprising to see Binance been hacked with all their security measures and protocols.
I have had funds parked at Binance for a few years now and none of my funds were ever stolen or hacked. However, today I withdrew all of my funds out of Binance. It was all sent to my cold storage wallet. I am taking a break from having my funds unprotected.
Is Binance is heating up?
Is Binance is heating up?
You just never know. After Bitstamp and Bitfinex got hacked years ago, they never had a large scale compromise again. I'm hoping that applies to Binance as well. At the same time, they must have a huge target on their back given the number and size of their markets, and the fact that they are crypto-only.
I've lowered my exposure since the hack. I'm looking forward to seeing margin trading rolled out on Binance so I can keep even less funds there.
mostly keep majority of their holding on their exchange account.It might not hurt for others but it would be an another case to anyone.
I have had funds parked at Binance for a few years now and none of my funds were ever stolen or hacked. However, today I withdrew all of my funds out of Binance. It was all sent to my cold storage wallet. I am taking a break from having my funds unprotected.
Is Binance is heating up?
Is Binance is heating up?
You just never know. After Bitstamp and Bitfinex got hacked years ago, they never had a large scale compromise again. I'm hoping that applies to Binance as well. At the same time, they must have a huge target on their back given the number and size of their markets, and the fact that they are crypto-only.
I've lowered my exposure since the hack. I'm looking forward to seeing margin trading rolled out on Binance so I can keep even less funds there.
Already a very long period, the trading platform has been valued due to its security, but today binance is again under question and I am not sure about the safety of my funds on this trading platform. I do not want to think about it, but in such situations I want to lengthen only the administration, which is either involved in all this and has produced its activities to the fact that there was a data leak.
I have had funds parked at Binance for a few years now and none of my funds were ever stolen or hacked. However, today I withdrew all of my funds out of Binance. It was all sent to my cold storage wallet. I am taking a break from having my funds unprotected.
Is Binance is heating up?
The disk (or server associated with it) was probably an essential part of their system. Looks like the website was up, but trades weren't going through. It looks plausible for me, so I'm not going to grab my tin foil hat for that. What else could have happened? Some people are saying some "hacker" did that, but why? And if funds are #safu, why does it matter?
paranoia from last month's hack i presume. everybody's still on their toes. i guess some people are speculating that an "intruder" in their system was detected which prompted the site being taken offline. people are probably worried that if the site is compromised again so soon, the insurance fund binance set up will have been depleted, leading to account haircuts.
i won't lie, my heart jumped a bit when i saw threads about this. it wouldn't kill me to lose what's in my binance account, but it would certainly sting.
Any thoughts on their announcement? Does it seem fishy to you? Some people seem pretty skeptical that a "disk failure" would bring them down for hours like that. I'm not too knowledgeable on the technical aspects, though. Cross-posting from another thread:
The disk (or server associated with it) was probably an essential part of their system. Looks like the website was up, but trades weren't going through. It looks plausible for me, so I'm not going to grab my tin foil hat for that. What else could have happened? Some people are saying some "hacker" did that, but why? And if funds are #safu, why does it matter? 
2 posts before yours...
https://twitter.com/binance/status/1137110915713622016
More:
https://twitter.com/heyibinance/status/1137110849015885824
https://www.binance.com/en/support/articles/360029309971-Binance-System-Maintenance-Complete
https://twitter.com/binance/status/1137110915713622016
More:
https://twitter.com/heyibinance/status/1137110849015885824
https://www.binance.com/en/support/articles/360029309971-Binance-System-Maintenance-Complete
Any thoughts on their announcement? Does it seem fishy to you? Some people seem pretty skeptical that a "disk failure" would bring them down for hours like that. I'm not too knowledgeable on the technical aspects, though. Cross-posting from another thread:
I don't think we really know the full story and we may never really know. But the issue is about respecting your customer base.
We are not stupid. Crypto traders and miners are some of the smartest people in the world.
Unless the disc failure was caused by an intruder or deactivated by an Intrusion Detection System (IDS) there was no reason for the site to be shut down like that.
We are not stupid. Crypto traders and miners are some of the smartest people in the world.
Unless the disc failure was caused by an intruder or deactivated by an Intrusion Detection System (IDS) there was no reason for the site to be shut down like that.
Can you provide a link for us to read more information about that issue?
2 posts before yours...https://twitter.com/binance/status/1137110915713622016
More:
https://twitter.com/heyibinance/status/1137110849015885824
https://www.binance.com/en/support/articles/360029309971-Binance-System-Maintenance-Complete
what about a single disk failure that brought Binance offline today?
Can you provide a link for us to read more information about that issue?
I have kept a few coins on the binance trading , and have not logged in for a long time. binance is a big exchange but still hacked, which shows that everything is not safe for investors
what about a single disk failure that brought Binance offline today?
You mean this update? https://twitter.com/binance/status/1137110915713622016
I didnt even expect on having a single disk failure on Binance.I feel like we're on 1990's. lol
From the same link you posted above:
That is how I love binance. They are always keeping their investors and traders safe and secured. However, why they let the hackers intercept their system easily? I thought binance is one of the strongest exchange nowadays. If ever it will be totally hacked, they might lose the trust of the people. They need to protect their customers unless they will be disrupted. Quote
Binance will use the #SAFU fund to cover this incident in full. No user funds will be affected.
what about a single disk failure that brought Binance offline today?
Of course, the burglary situation is extremely unpleasant, but I don’t like how many white spots remain on this story. For example, why have 80 stolen bitcoins returned to a hot money wallet?
No doubt on one side with the growth and enhancement of technologies and arrival of new innovations especially the currency modernism hackers are also catching fire on the other side. Hackers do not follow the rules whether it is a leading exchange or not, they did not even forgive Binance. But we should think how secure these exchanges are because the ratio of hacking is very small to its security.So dealing with them is not really easy and people should stop blaming some of them as if they themselves will not fail if they were in their shoes. Binance has seen their mistake now and I believe they have also learnt from it for better security.
Still people have lost their trust in Binance now ..
I am just waiting for a clear picture and maybe some time till things are more transparent
I am just waiting for a clear picture and maybe some time till things are more transparent
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