These hacks occur with regularity, and given that Binance is one of the largest exchanges in the world, it was bound to become a victim. Fortunately, Binance has a vast majority of its cryptocurrency in cold wallets, and has established a separate fund as insurance. So the victims of these attacks will be made whole. Hopefully the perpetrators will be caught and brought to justice. This is a reminder to keep cryptocurrencies off exchanges.
The good this is only 2% of Binance's Bitcoin got hacked and a cold wallet is really a lifesaver. Even a large exchange like Binance is targeted by these hackers and you're correct it is not wise to keep digital assets on exchanges no matter how big they are because anything can happen. I'm pretty sure that Binance will not let go of this tragedy and trace those criminals who hacked the exchange and I do hope that those ill-minded people will be put behind bars. 
Topic: Binance lost $40.7 million to hackers, which exchange is next!!! - page 4. (Read 1296 times)
Again and again, the market exchange was hacked. this is like a routine schedule "market hacked" when bitcoin is in a bullish trend. is this just a drama? I don't know for sure.
I was so used to the news like this, I was not surprised anymore.
I was so used to the news like this, I was not surprised anymore.
People already accepted this kind of possibilities, we've seen a lot of hack exchanges reported in the past and that makes us stronger.
There is not stopping the bullish trend, looks like nothing happened, bitcoin just relax and bit and tomorrow we will see it rise again, no stopping for $6K now.
maybe the next exchange that will be hacked is KuCoin or bw.com or others 
Bigger than Binance, and let's see the effect, just kidding.
Seriously, I don't want to see a hack again, it's bad for the market in general.
This is very unfortunate news. It seems like Bitcoin is staying strong, though, with the price almost reaching $6k. Binance is a very big exchange. 40 million dollars is a lot, but it may not that much for them. I hope the losses are those of the exchange and not people who held their coins there. If it's not the case, perhaps Binance will manage to reimburse the funds. I don't think Binance would risk robbing its own users, so I hope it will be okay.
The importance of keeping your funds in Wallet and off exchanges.
And by the way, Binance is not the largest exchange in the world, it's the most hyped and marketed with followers and alexa rank.
According to Coingecko, Binance is in 10th place by Trading Volume.
https://www.coingecko.com/en/exchanges
And by the way, Binance is not the largest exchange in the world, it's the most hyped and marketed with followers and alexa rank.
According to Coingecko, Binance is in 10th place by Trading Volume.
https://www.coingecko.com/en/exchanges
Again and again, the market exchange was hacked. this is like a routine schedule "market hacked" when bitcoin is in a bullish trend. is this just a drama? I don't know for sure.
I was so used to the news like this, I was not surprised anymore.
maybe the next exchange that will be hacked is KuCoin or bw.com or others
I was so used to the news like this, I was not surprised anymore.
maybe the next exchange that will be hacked is KuCoin or bw.com or others
This will definitely have a negative impact on its reputation. Regardless of the amount, people will surely think twice before using the platform. Heard from the news that losses would be covered, and concerned people are glad to hear that. This reimbursement wouldn't happen on a decentralized exchange, afaik. which makes it all very confusing as to which has more security. On a different note, this should serve as a wake-up call to all other exchanges to heighten their security to prevent or even stop future attacks.
"Do you really need to reflect before writing, are you wishing that Bittrex is the target of this fucking thieves?" you meant these* instead of this*
Read the title of the forum.
Yes I actually maybe I do wish it be Bittrex, I can wish whatever I want. ^_^
Yes it is sad bitcoins get hacked from exchanges.
No I don`t need to reflect, ^_^ I do that enough, I am a gamer, I type like this because in between killing everyone on the other team I have little time to type, try playing quake and typing or starcraft. I am a Quaker and I make the Shakers Shake.
Only provided the formula to stop these thieves
You know my coins got hacked, and my fathers because of me. I do not wish good things upon these theives, I wish they live every persons life they stole from, just like the bankers and government.
Coins I earned and did not buy!
Read the title of the forum.
Yes I actually maybe I do wish it be Bittrex, I can wish whatever I want. ^_^
Yes it is sad bitcoins get hacked from exchanges.
No I don`t need to reflect, ^_^ I do that enough, I am a gamer, I type like this because in between killing everyone on the other team I have little time to type, try playing quake and typing or starcraft. I am a Quaker and I make the Shakers Shake.
Only provided the formula to stop these thieves
You know my coins got hacked, and my fathers because of me. I do not wish good things upon these theives, I wish they live every persons life they stole from, just like the bankers and government.
Coins I earned and did not buy!
Edit: CZ talking about roll back and it looks like the loss is much bigger to make him so desperate, they confirmed a loss of $40 million dollars and yet claiming that they are safe .
.I do not know anything about this rollback, but if there's something that every mining community can do to stop these scammers from using those stolen bitcoins then I think the miners should use everything they have to stop those thugs from using those bitcoins stolen
Something that people are not realizing or do not want to realize:
If there is no way to reverse thefts like these, then governments will hardly accept cryptos.
It is necessary to show some kind of power to stop these scammers, and it is necessary to take very harsh measures to punish these scammers.
You know what is another cool thing about p2p trading, no fees other than what you pay the miners in tx.
Are you suggesting that people should bow to these fucking scammers?
People have rights to create centralized exchange, and they should not be afraid of these fucking thieves
Oh I missed something in the title, The next one is Bittrex.
Do you really need to reflect before writing, are you wishing that Bittrex is the target of this fucking thieves?
this:
RE ROLL RE ORG ROLL BACK
is spam
Oh I missed something in the title, The next one is Bittrex.
CZ actually discussed the possibility of a rollback on the bitcoin network which he later denied.
[snip]
The thing is he actually discussed the idea with Jihan and only then he changed his mind. He is desperate.
Which makes me think, the lost funds may not be 7k btc only. If he can discuss a crazy idea like a rollback, I don't think it is just 7k. 7k coins is only $40m. It is potato chips for binance.
[snip]
The thing is he actually discussed the idea with Jihan and only then he changed his mind. He is desperate.
Which makes me think, the lost funds may not be 7k btc only. If he can discuss a crazy idea like a rollback, I don't think it is just 7k. 7k coins is only $40m. It is potato chips for binance.
I've read that he discussed that (with more than only Jihan) and changed his mind. I don't know how he thought he could fork Bitcoin only to cover his mistake (although his mistake may affect the price temporarily).
But as you said, 7k is nothing for Binance and only a flea bite in the price charts.
On the other hand, the conclusion that it may be more than "just" 7k BTC missing is interesting/scary. Then the effect could be (much?) bigger. I hope CZ is not hiding too much info.
A sad day with Binance because the amount of 40.7 million dollars is a huge amount. I hope that it doesn't make the market fall too much. At any time, the exchanges are always the target of pursuit and Hackers attack. Therefore, trading floors must always improve their security level to reduce risks. This is also a decisive factor for investors' ability to invest because they will fear and fear to lose your money.
That is very sad, Binance has very well known exchange and one of the big crypto exchange. There is a possibility that the hackers are aiming already their intentions to hack and waiting for the opportunity to grab. Even how strong putting security level on the exchange but hackers now are getting smarter day by day. Only 2% had lost on Binance but on us, that is a huge amount. So, they have a lot of bitcoin on their hot and cold wallet. We should not put a huge amount on exchange we should have a control to our savings wallet, not on exchange.
Of course they will claim they are safe because they are one of the biggest exchange in the crypto world. We should just hope for the best of the said trading platform because it also have impact on the value of bitcoin at least a little bit. We should support their statements cause that is for our own good I guess.
It's at times like these that I'm extremely glad that I never keep any coins at exchanges, not even for a day or so.
I mean, it could definitely be the case that they're just revealing the tip of the iceberg and that the hack is much more severe.
I definitely wouldn't be surprised if they come out in a couple of days, mentioning that their cold storage has been compromised.
I mean, it could definitely be the case that they're just revealing the tip of the iceberg and that the hack is much more severe.
I definitely wouldn't be surprised if they come out in a couple of days, mentioning that their cold storage has been compromised.
The thing is he actually discussed the idea with Jihan and only then he changed his mind. He is desperate.
Which makes me think, the lost funds may not be 7k btc only. If he can discuss a crazy idea like a rollback, I don't think it is just 7k. 7k coins is only $40m. It is potato chips for binance.
I believe there is more going on. He is not ready to tell us, yet.
Lol
Looks like CZ has lost his mind even though he is trying hard to play it cool to come up with a decision for a roll back Which makes me think, the lost funds may not be 7k btc only. If he can discuss a crazy idea like a rollback, I don't think it is just 7k. 7k coins is only $40m. It is potato chips for binance.
I believe there is more going on. He is not ready to tell us, yet.
Lol
. He is a hiding the real loss and still playing cool in public that it is not a big deal which is really silly, it might be potato chips for binance and we have seen some chips breaking in the past after playing cool. To come up with a decision for a roll back, he might be really crazy to think that the entire community will accept that because CZ said so . 
CZ actually discussed the possibility of a rollback on the bitcoin network which he later denied.
Talks about the rollback and ways to do it:
https://www.pscp.tv/w/1mrGmvjpbqBJy
Says he doesn't want it here.
https://mobile.twitter.com/cz_binance/status/1125996199041830912?s=19
The thing is he actually discussed the idea with Jihan and only then he changed his mind. He is desperate.
Which makes me think, the lost funds may not be 7k btc only. If he can discuss a crazy idea like a rollback, I don't think it is just 7k. 7k coins is only $40m. It is potato chips for binance.
I believe there is more going on. He is not ready to tell us, yet.
Lol
https://www.reddit.com/r/CryptoCurrency/comments/blyjsd/the_hack_may_be_worse_than_binance_is_letting_on/
Talks about the rollback and ways to do it:
https://www.pscp.tv/w/1mrGmvjpbqBJy
Says he doesn't want it here.
https://mobile.twitter.com/cz_binance/status/1125996199041830912?s=19
The thing is he actually discussed the idea with Jihan and only then he changed his mind. He is desperate.
Which makes me think, the lost funds may not be 7k btc only. If he can discuss a crazy idea like a rollback, I don't think it is just 7k. 7k coins is only $40m. It is potato chips for binance.
I believe there is more going on. He is not ready to tell us, yet.
Lol
https://www.reddit.com/r/CryptoCurrency/comments/blyjsd/the_hack_may_be_worse_than_binance_is_letting_on/
that is the stupidest thing that I have ever heard and that only proves that despite all the bullshit that they have been saying about bitcoin and showing themselves as "supporters of it" and "experts" they have no idea how bitcoin works.
bitcoin is not some shitcoin that THEY can request rollback every time THEY messed up. they have to accept their stupidity and start thinking of ways to pay back their customers.
A sad day with Binance because the amount of 40.7 million dollars is a huge amount. I hope that it doesn't make the market fall too much. At any time, the exchanges are always the target of pursuit and Hackers attack. Therefore, trading floors must always improve their security level to reduce risks. This is also a decisive factor for investors' ability to invest because they will fear and fear to lose your money.
Binance can cover this loss for these users but i fear for the moments the smaller exchanges get hit by these abuses and cant do such things. Never hold large amounts on any exchange is still the way to go.
Exchange security developers obviously have to do something, if this is not resolved soon, I am sure the hacker will break through another exchange security system. the security system in exchange must be monitored and audited frequently so the vulnerable bugs cannot be exploited by hackers.
I think all crypto currency exchange developers must work together and share information globally to fight hackers.
I think all crypto currency exchange developers must work together and share information globally to fight hackers.
once again another centralized exchange proves that they are all incompetence when it comes to security and they will eventually leak your data and your money to hackers and many of them will scam you themselves by stealing your money and calling it a "hack".
it was last week that i was telling everyone that they shouldn't trust an exchange just because it is popular and has high volume.
it was last week that i was telling everyone that they shouldn't trust an exchange just because it is popular and has high volume.
How did the hackers get access to 2FA and even the API keys? This sounds so unreal especially for an exchange like Binance that has been the top most exchange and I wanted to trade few of my coins there. Now if this exchange also can hacked that means all other exchanges are just small fishes and there won't be any exchange left then.
Glad that they are willing to reimburse the customers but like Cryptopia, this is also going to take months and till then users will be stranded. Why do these exchanges act like they are doing a favor on users by paying them back? It's their duty to do so.
Glad that they are willing to reimburse the customers but like Cryptopia, this is also going to take months and till then users will be stranded. Why do these exchanges act like they are doing a favor on users by paying them back? It's their duty to do so.
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