Bithumb 30 Million Hack | Bitcointalksearch.org

blockman

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Quote from: mine2slow on June 29, 2018, 04:49:50 AM

All these news are bad for the market which is already in a fever!

Is there are a time that bad news helped the market? all these hacks gave everyone an headache. And when there's a news like these expect that a dump will follow.

Quote from: mine2slow on June 29, 2018, 04:49:50 AM

Whales are satisfied cause they will manage to purchase Bitcoin at a veeeery good price! A new minimum of the price of 2018 has been reached today((

They won't buy at the all time highs so they are pushing the price backwards so they will manage to get it somehow at cheaper rates.

$5,900 today but it was $5,850 earlier.

mine2slow

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Quote from: DamCryp on June 19, 2018, 09:07:09 PM

Just in time to kill the momentum and take us back to 6500, this hack happened, people panic sold, but the fact that Bithumb inmediatly took charge of the situation, moved resources to cold wallets and assured clients it would cough up the 30 Million to cover losses, is pretty empowering for the industrya and goes to show that a lot of the big players are here for the long term and are willing to build a new reputation not only for themselves but also the industry, trying to make it a more professional space, and not just a parade of endless unresolved scams and hacks.

All these news are bad for the market which is already in a fever! Whales are satisfied cause they will manage to purchase Bitcoin at a veeeery good price! A new minimum of the price of 2018 has been reached today((

Reatim

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Quote from: CoinEraser on June 24, 2018, 06:56:48 AM

Quote from: MicaleFalcon on June 24, 2018, 06:39:27 AM

This is indeed a bad news for the cryptocurrency exchanges, since the South Korean Exchange bithumb has released that 30 million US dollars have been hacked from their system. Until then all sorts of transactions are paused, and will be resumed after the matter has been investigated thoroughly. In the meantime the resources have been transferred to cold wallets and their clients are being reassured that the losses will be covered up.

I've been a long time here in the crypto world and have seen many exchanges dies through such a thing. Now we have 2018 and exchanges are still got hacked. That is somehow sad. Why have the operators of such sites still not learned how important security is? How many exchanges still have to be hacked until they are finally safe? Is it just me, or are real banks not hacked so often? But at least I do not think that the current price decline of cryptocoins have come through this hack. Roll Eyes

Remember that hackers are very intelligent, its just sad that they used to their advantage to become a criminal. They usually study an exploited the vulnerabilities of most exchanges that's why exchanges really needs to learn and try to improve as well and not wait till the next hack on them. Banks are also been hacked but maybe we haven't heard it that very often though. There was even a hack that I read 2 years ago that hackers exploited using the network printer of a bank (with the IP address thingy) and stole millions if not billions of dollars.

shampapk1988

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It’s not a great news for this crypto market and as far as i know bithumb is not a good project. In recent times bitcoin also facing some problems. But i believe in near future situation will change.

Viscera

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Quote from: CoinEraser on June 24, 2018, 06:56:48 AM

Quote from: MicaleFalcon on June 24, 2018, 06:39:27 AM

This is indeed a bad news for the cryptocurrency exchanges, since the South Korean Exchange bithumb has released that 30 million US dollars have been hacked from their system. Until then all sorts of transactions are paused, and will be resumed after the matter has been investigated thoroughly. In the meantime the resources have been transferred to cold wallets and their clients are being reassured that the losses will be covered up.

I've been a long time here in the crypto world and have seen many exchanges dies through such a thing. Now we have 2018 and exchanges are still got hacked. That is somehow sad. Why have the operators of such sites still not learned how important security is? How many exchanges still have to be hacked until they are finally safe? Is it just me, or are real banks not hacked so often? But at least I do not think that the current price decline of cryptocoins have come through this hack. Roll Eyes

Do you think there's an insider job in that exchanges? I do believe that market makers will do their best to make a lot of fuds, to attract new investors. This year would be a year of regulation and many countries focusing on adopting the technology of blockchain.

CoinEraser

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Quote from: MicaleFalcon on June 24, 2018, 06:39:27 AM

This is indeed a bad news for the cryptocurrency exchanges, since the South Korean Exchange bithumb has released that 30 million US dollars have been hacked from their system. Until then all sorts of transactions are paused, and will be resumed after the matter has been investigated thoroughly. In the meantime the resources have been transferred to cold wallets and their clients are being reassured that the losses will be covered up.

I've been a long time here in the crypto world and have seen many exchanges dies through such a thing. Now we have 2018 and exchanges are still got hacked. That is somehow sad. Why have the operators of such sites still not learned how important security is? How many exchanges still have to be hacked until they are finally safe? Is it just me, or are real banks not hacked so often? But at least I do not think that the current price decline of cryptocoins have come through this hack. Roll Eyes

MicaleFalcon

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This is indeed a bad news for the cryptocurrency exchanges, since the South Korean Exchange bithumb has released that 30 million US dollars have been hacked from their system. Until then all sorts of transactions are paused, and will be resumed after the matter has been investigated thoroughly. In the meantime the resources have been transferred to cold wallets and their clients are being reassured that the losses will be covered up.

BlakeMye

newbie

Activity: 88

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This is not a good news at all. It is rather disturbing that Bithumb is being hacked this way. Strict measures are to be taken against this.

haithomocduong

newbie

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Honestly am sick of hearing news about exchanges getting hacked on daily basis, it puts investors at a difficult situation because most of them are now scared of leaving their assets on exchanges. we need more of decentralized exchanges.

ReiMomo

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This hack from Bithumb and Korean exchange have brought down the crypto currency market from bad to worse I think. There are risk involved in any field but hacking an exchange itself is something we and the concerned authority need to think of a secured one in future. May be they step into rescue but not all the time it will be favor to us.

coupable

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Quote from: kindbtc on June 22, 2018, 12:00:01 PM

Well i was not aware of this news, it is reallysad to see more and more exchanges getting hacked, if this continues i fear people will stop trading on these exchanges or atleast will not store any coins there.

It is even possible by some allege that the hack was an inside job by Bithumb to generate funds or to avoid taxes. Read about Developing Bithumb Hack Story as based on official tweets announecements of the hack has been deleted. Furthermore, the stolen funds has been moving to Bitblender mixer which is number one bitcoin mixer in the DarkNet with a single public presence at bitblender.io.
The connection between the hack and the DarkWeb mixer reveal a suspecious possible scenario that has been already predicted by Attorney Jonathan Levy explained in this article.

Vaniaayu

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Yes you are right, today almost all crypto currency is experiencing price decline, maybe this is the effect of crypto exchange that hit the hack. I hope the price will soon getting better and make a profit for all of us

Tosyn2

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Quote from: DamCryp on June 19, 2018, 09:07:09 PM

Just in time to kill the momentum and take us back to 6500, this hack happened, people panic sold, but the fact that Bithumb inmediatly took charge of the situation, moved resources to cold wallets and assured clients it would cough up the 30 Million to cover losses, is pretty empowering for the industrya and goes to show that a lot of the big players are here for the long term and are willing to build a new reputation not only for themselves but also the industry, trying to make it a more professional space, and not just a parade of endless unresolved scams and hacks.

I saw the new on some channel, i will check bithum news channels to see if this is just to make people panic in other for newbie to dump their coins on them at loss,this space needs sanitization from bad actors.

kindbtc

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Well i was not aware of this news, it is reallysad to see more and more exchanges getting hacked, if this continues i fear people will stop trading on these exchanges or atleast will not store any coins there.

jaythelingly

newbie

Activity: 112

Merit: 0

I heard ther news and it was very sad to hear so. A few weeks back we saw a similar hacking incident and I expected that the other exchanges will take lesson from it and enhance their security facilities. But alas we had to witness the same incident again. Still I am thakful that Bithumb could manage it early and this lessened the lost amount to a great extent.

peterpan19z99

newbie

Activity: 101

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Fortunately Bithumb is paying the hacked $30 millions back to the traders. Otherwise, the poor traders will have to absorb the lost and it is going to decrease investors’ confidence. This show how unsafe it is to store coins in exchanges.

KMattox

newbie

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I think they have a funds recovery plan!
so, people stay calm and don't worry about this hack!!!
cheers!!

Good Bo

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Quote from: cryptogeek101 on June 19, 2018, 09:16:14 PM

Quote from: DamCryp on June 19, 2018, 09:07:09 PM

Just in time to kill the momentum and take us back to 6500, this hack happened, people panic sold, but the fact that Bithumb inmediatly took charge of the situation, moved resources to cold wallets and assured clients it would cough up the 30 Million to cover losses, is pretty empowering for the industrya and goes to show that a lot of the big players are here for the long term and are willing to build a new reputation not only for themselves but also the industry, trying to make it a more professional space, and not just a parade of endless unresolved scams and hacks.

It's very unfortunate such a hack issue is coming up at this period after the Korean- coinrail exchange hack that brought us back some few weeks. One of the problems of the crypto blockchain is the prevalent issue of security. The digital ecosystem is prone to hacking. I thank Bithumb for the quick intervention, even though I have not really read the full version of this hack story. I would find time to investigate the issue. Thanks

This hack might kill the trust of people to exchange since they loss a lof money if save money in exchange.
This caused so many advice to not save lot of money in exchange since its very high risk. Cryptocurrency now like hell where we can loss everything not because our fault but other fault.

smyslov

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Quote from: DamCryp on June 19, 2018, 09:07:09 PM

Just in time to kill the momentum and take us back to 6500, this hack happened, people panic sold, but the fact that Bithumb inmediatly took charge of the situation, moved resources to cold wallets and assured clients it would cough up the 30 Million to cover losses, is pretty empowering for the industrya and goes to show that a lot of the big players are here for the long term and are willing to build a new reputation not only for themselves but also the industry, trying to make it a more professional space, and not just a parade of endless unresolved scams and hacks.

Bitthump try to revive trust on their exchange, so they can still operate I hope other exchange also has that policy and stance, so traders will become comfortable trading, but the most important and always is security, everybody are hoping that this will be the last so we can all move on and the market turn to bull again.

hani1929

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too bad for the exchange site, maybe those who got hacked in bithumb will not get refunded right? They should focus on the security on their website because many people who invested in that site , they should build a strong security. if that continues many investors will be afraid on investing from their exchange. but we all know that this is not only the first that happens in any exchanges. We cant say also it is an inside job.but who knows.

Topic: Bithumb 30 Million Hack (Read 474 times)