[Bitfinex Hacked] So , learned the lesson ? - page 10.

Lionidas

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Quote from: john_doe on August 03, 2016, 03:07:26 PM

Anyone got finexxed here?

I am pretty sure there are quite a few here that have had ties with this exchange.
Will they admit it? Probably not out of being too embarrassed to admit that they held any coins in an exchange once their trading session has ended.

john_doe

full member

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Anyone got finexxed here?

European Central Bank

legendary

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Quote from: dserrano5 on August 03, 2016, 11:58:18 AM

Quote from: kokojie on August 03, 2016, 10:26:50 AM

In the future, refuse exchanges that doesn't PROVE it has 95%+ customer funds in cold storage.

Well that sure is going to be tricky. As a service provider, you'd have to prove that the keys to the funds are not stored on any online system, however you can't prove that something is not happening.

http://blog.coinfloor.co.uk/

coinfloor do this every month. it's a tiny exchange compared to some others but news like this hopefully encourages people to take less chances, but I don't think it will.

what's really needed is a fully regulated and audited place with margin trading. margin is what keeps people coming back and using risky places.

DGulari

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Quote from: Kprawn on August 03, 2016, 11:02:15 AM

These exchanges are fucking things up for Bitcoin with this piss ass security breaches and hacks. I wonder how many of these hacks are genuine .... many of these looks like inside jobs or stupidity of

the people hosting these services. It blows my mind that a exchange with a daily 10k+ bitcoin volume, can be this unprofessional and prone to attacks. I would only start using these services, if we can

American exchanges (those with regulations) haven't been hacked. Kraken and Coinbase don't get hacked because they are not run by silly little boys in countries with no rules.

Harph

newbie

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Merit: 0

Sad, looks like cryptocurrency needs to stay out of exchanges until insured and well regulated. or take you chances and piece meal your exchange transactions in small enough pieces that one is willing to loose. This leaves margin trading not currently viable. Bitcoin has a ways to go until we have credible providers of service or providers that will insure bitcoin transactions from fraud like credit cards.

BestWebCreator

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:)

Quote from: LFC_Bitcoin on August 03, 2016, 01:13:21 PM

Not enjoying reading some posters criticising & blaming Bitfinex users for losing their coins. Bitfinex are the ones to blame here.

How are people supposed to sell coins if they don't, at some point, have their coins on an exchange.

It's a shitty thing to happen & unfortunately people have got burnt. I wouldn't be surprised if it was an inside job tbh.

It is prety dumb to hold your coins on an exchange after u exchanged the currency u wanted to swap.
They don't target the people that just deposited and then it went offline. They are the super unlucky ones.

Decentrialized exchange is the best option.

ionomy

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Quote from: Watercooler on August 03, 2016, 04:13:24 AM

After MtGox, Mintpal, Cryptsy and now Bitfinex, people should learn to not use exchanges as
your Bitcoin / altcoin wallet. Store coins you don't use for daily trading in you own wallet, preferably
in an offline wallet ( hardware or paper ).

Muggings, armed robberies, phishing and even card cloning, go on all day every day in the 'normal' world, security only counts for as much effort you put into it.

dserrano5

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Quote from: kokojie on August 03, 2016, 12:10:14 PM

Quote from: dserrano5 on August 03, 2016, 11:58:18 AM

Quote from: kokojie on August 03, 2016, 10:26:50 AM

In the future, refuse exchanges that doesn't PROVE it has 95%+ customer funds in cold storage.

Well that sure is going to be tricky. As a service provider, you'd have to prove that the keys to the funds are not stored on any online system, however you can't prove that something is not happening.

It's called 3rd party audit.

That is only a proof if you trust the auditor. Granted, it's a step forward but still.

LFC_Bitcoin

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#1 VIP Crypto Casino

Not enjoying reading some posters criticising & blaming Bitfinex users for losing their coins. Bitfinex are the ones to blame here.

How are people supposed to sell coins if they don't, at some point, have their coins on an exchange.

It's a shitty thing to happen & unfortunately people have got burnt. I wouldn't be surprised if it was an inside job tbh.

GreenBits

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Quote from: chickenmie on August 03, 2016, 10:30:29 AM

people who too lazy to move their funds to their own wallet should be considered as lazy ass

How else are you going to exchange btc, if not on an exchange?

xdrpx

hero member

Activity: 616

Merit: 603

Yes, it's happened far too many times now that we've to realize that keeping our funds in an exchange isn't a good idea. No matter what, once your trade is complete make sure that your funds are transferred to your personal offline wallet or cold storage. Never trust online exchanges with security.

BitHodler

legendary

Activity: 1526

Merit: 1179

People will never learn from exchanges going down due to hacks or insider jobs.

They are either too lazy to request a withdrawal to get their coins back, or they seriously believe leaving coins on an exchange is a good way to store coins. I don't know which of the two options is worse.

We are looking for secure places to store our fiat money, but when it comes to Bitcoin certain people are completely different. Weird.

Whosdaddy

hero member

Activity: 1148

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This is a pretty good statement. It is never smart to leave coins at any exchanges. At most, I keep my coins for only a day and that only happens if I forget to withdraw them. Even though I usually do trading, I do not really keep a big amount of coins in any exchangers.

Robertqueen2

hero member

Activity: 826

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Yes I leant the lesson before Bitfinex get hacked , but sometimes you need to leave some money in exchanges , because some coins pump or dump suddenly , and the Bitcoin transaction needs short time to be completed , so you might lose some values in the meantime .

R2Pleasent

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Owner@ CryptoFundingTracker.com

I keep hearing about decentralized exchanges, and I think that this term is just laughable. How do you create a decentralized exchange that allows you to cash in and out USD? How do I withdraw USD from a decentralized exchange to my bank? Who is sending the wire exactly?

There is no decentralized way to handle USD. It is that way by design. If there was a way, then we wouldn't need Bitcoin in the first place.

mobnepal

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Actually i have learned lesson before also to diversify my bitcoin storage so i haven't kept all in one exchanger or wallet and at the situation when bitfinex got hacked i haven't any bitcoin there so no any direct loss of bitcoin for me however with the price total value of my bitcoin got down.

Currently i have only 20% of my bitcoin in total in all exchangers. Cool

Marvell1

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Quote from: Cereberus on August 03, 2016, 10:45:11 AM

It is not a hack obviously. I would like to speculate that this is an "inside job".The amount adds up to 60 mln dollars in bitcoin some they say. Do you think that with this amount of bitcoin in dollars in their pocket Bitfinex gives a damn about their users ? I really think no and everyone who had some coins in there should stop hoping and learn the lesson everybody is talking about to never keep your coins in exchanges or even on online wallets as they too can disappear one day.

Yeah I agree has to be an inside job, Finex took the money and ran , same thing Cyrpsty did.

Maybe they had a internal breach i.e a large amount of funds stolen and then they are poping this to cover thier tracks

The whole point of multisig is it takes multiple PKs to access the funds how could someone get access to both and then leach out 120k btc so fast ?

at the minimum there would be a limit of maybe 100 BTC per withdrawal come on guys.

RoommateAgreement

hero member

Activity: 770

Merit: 500

Bazinga!

i can never undestand how these exchanges lose this many bitcoin all in one place. i mean 119000 bitcoin is not a small amount.
if they have lost thousands or even tens of thousand i could undestand it, but how can you keep 119000BTC=75,000,000$ in one place and not protect it with all your life.

unless of course this is all a show, and there was no hack. they simply moved the funds to their other pocket and said we were hacked haha.

Kimi80

sr. member

Activity: 750

Merit: 252

I'm new, and after reading your comments I see its not smart to hold coins on exchange site. I see many people talking about earning with trading, how to find good exchanger site?

I read on internet news that bitfinex isn't licensed, how to know which exchangers are licensed? Are they better protected?

ImHash

hero member

Activity: 924

Merit: 506

this is not entirely people's fault but the exchange is to blame as well, they should have taken more security measures to avoid such accidents imao.

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