That means the exchange is not that secure for their users; it's just that easy for a hacker to steal 4500 bitcoins. The question there is whether the money obtained from the platform will be returned to its users.?
Actually, this time there was news on Bitcoin about the hacking issue during the bull run. I'm just not sure if the hacker really intended to do this so that if there is a dump in the price of bitcoin, the hacker's stolen bitcoins will be used to buy bitcoins.
Topic: Btc hack from Japani Exchange again or its a fud? (Read 305 times)
hero member
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It's not a FUD, and it's such a refreshing thing to see too that people aren't easily swayed by attacks on bitcoin like this anymore, there's more people that values the long-term game with bitcoin, they know that the hack and the stolen bitcoins are going to be investigated and the culprits will have a hard time finding a way to cash in their haul so pretty sure that they're going to get it back eventually.
Well, it's not an easy job. This is a crypto world, and it's hard to keep a trace of cryptocurrencies. If a hacker can hack an exchange, they know where to sell their crypto and what to do before they sell it. Nowadays, it's easy to use a mixer, which makes it complicated for agencies to trace Bitcoin. Hackers mostly use the exchange to protect their privacy and then move their funds to exchanges to sell them.
The Japanese exchange did not rely on any law enforcement, and they did not say that they recovered their lost Bitcoin. They announced that their customers will get 100% refund just because they want to keep their reputation good.
It's not a FUD, and it's such a refreshing thing to see too that people aren't easily swayed by attacks on bitcoin like this anymore, there's more people that values the long-term game with bitcoin, they know that the hack and the stolen bitcoins are going to be investigated and the culprits will have a hard time finding a way to cash in their haul so pretty sure that they're going to get it back eventually.
Other than that, keep your bitcoins safe, don't store it in the exchange that you're using unless you want to risk doing something like using a hot wallet because you don't want to spend so much on transaction fees.
Other than that, keep your bitcoins safe, don't store it in the exchange that you're using unless you want to risk doing something like using a hot wallet because you don't want to spend so much on transaction fees.
I know its hard to believe but there can be exchanges that are popular to a certain country and aren't found on those popular listing websites. Well, it's been proven and been on several media that they have been actually hacked. Not an unnecessary FUD but a real thing that has happened.
I understand why exchanges from third-world countries might not make it onto CoinMarketCap and CoinGecko, but the same shouldn't apply to those in Japan. If you have any insights into why they're not listed on those platforms, I'd be interested to hear them. I believe these charts help establish the credibility of exchanges.I think he's just asking and that's only for the sake of argument and discussion. He has given a link to a reference and it's from coindesk which is also one of the most popular sources globally for crypto news.
I understand what he is talking about. I know he said this just for the sake of the argument and the discussion. I also said that we don't know what will happen or what will happen there. We don't know the truth. Only the company may know the truth, but I don't think they are lying. Of course, an exchange doesn't want to ruin its reputation, but we cannot deny that it may want to promote its service badly.
As we know, negative promotion works much better than positive promotion. However, the exchange said they would refund their users, and if this happens, it is good for them. Unfortunately, we still keep our money in exchanges, which we should avoid, and store our money in our noncustodial wallets.
These type of "hack" news do not really matter that much in the crypto world, it is quite normal and ordinary. Look at the whole FTX and Luna stuff that happened a few years back, those made people lose billions in total, and yet we break over ATH again after that, which means that we are not really worried about those as a market.
I am not saying they are unimportant, just saying that it doesn't make sense to keep worrying about those things constantly, just doesn't make sense in the end at all, it is what everyone keeps thinking about. I believe that the best thing to do would be just ignoring whatever you can, and just considering how things could change very fast and we should worry about everything normally that impacts at that moment.
I am not saying they are unimportant, just saying that it doesn't make sense to keep worrying about those things constantly, just doesn't make sense in the end at all, it is what everyone keeps thinking about. I believe that the best thing to do would be just ignoring whatever you can, and just considering how things could change very fast and we should worry about everything normally that impacts at that moment.
hero member
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I think he's just asking and that's only for the sake of argument and discussion. He has given a link to a reference and it's from coindesk which is also one of the most popular sources globally for crypto news.
I understand what he is talking about. I know he said this just for the sake of the argument and the discussion. I also said that we don't know what will happen or what will happen there. We don't know the truth. Only the company may know the truth, but I don't think they are lying. Of course, an exchange doesn't want to ruin its reputation, but we cannot deny that it may want to promote its service badly.
As we know, negative promotion works much better than positive promotion. However, the exchange said they would refund their users, and if this happens, it is good for them. Unfortunately, we still keep our money in exchanges, which we should avoid, and store our money in our noncustodial wallets.
4,502.9 BTC ($305 million) was stolen from the Japan exchange
https://www.coindesk.com/business/2024/05/31/japanese-crypto-exchange-dmm-bitcoin-suffers-305m-hack/
https://www.coindesk.com/business/2024/05/31/japanese-crypto-exchange-dmm-bitcoin-suffers-305m-hack/
There is something wrong about this story because such amount of wallet can't be a hot wallet, I have never heard of that exchange and that means they don't have much liquidity that much and that kind of Bitcoin should only be kept in a cold wallet, storing this amount of Bitcoin in a hot wallet means they don't care much about security of their custody if such amount of Bitcoin can be stolen over night, it doesn't make any iota of sense but proper investigation should help.
I also don't understand what comes next to the mind of scammers. Who steal such amount of Bitcoin when you can't spend it, the transaction will never step a foot on any exchange because it will be reported and even some exchanges should be aware of it by now since it has gotten to a media platform like Coindesk. The hacker would just be moving coins and wouldn't be able to spend, this is what physics means when you do zero work, noting is achieved here.
This way the hacker gets to keep millions of dollars for themselves for no repercussion, while the exchange despite losing a great deal of reputation over the incident can reduce their losses, so it would not surprise me if such an agreement was possible between the two parties.
Almost one week since Japanese exchange hacked but not giving bad significant with bitcoin price keep stable without large of correction, 4,502.9 BTC ($305 million) stolen can't make market dump or bitcoin getting correction after the official of DMM Bitcoin exchange will guarantee with the amount stolen and costumer not get panic yet with their fund. I think its the same issues what happening before on Kucoin exchange after SEC Commission investigate and their market keep operation well for member withdrawing or deposit their fund.
During exchange not collapse and running well with withdrawal feature I don't think bring negative impact to make bitcoin getting down, I believe with Japanese exchange hacked and the owner keep guarantee the member fund make them not panic for selling their bitcoin assets will make price drop later.
During exchange not collapse and running well with withdrawal feature I don't think bring negative impact to make bitcoin getting down, I believe with Japanese exchange hacked and the owner keep guarantee the member fund make them not panic for selling their bitcoin assets will make price drop later.
Whether it is a FUD or real, we have to be aware of a situation like this knowing that we are prone to such events. We may hear more stories like this in the coming days until exchanges strengthen their security.
Everything is still okay like nothing hack happens in the crypto market.
Everything is still okay like nothing hack happens in the crypto market.
The exchange hack was 3 days ago but bitcoin price has not been affected till now. We are not in the days of Mt. Gox exchange again that a single exchange has 70% of the total bitcoin. We have hundreds of exchanges now and such news is not affecting the crypto market anymore.
Although the main reason is that the is not a common a exchange like Binance. But if Binance or a very common exchange is hacked, the effect would be almost insignificant also. Bitcoin will drop just little in price and increase again.
That never happens because this exchange is small and has no influence in the market unlike Binance, Kucoin, and other big exchanges where big investors are there. It won't create panic selling because it is not worth it either. I believe that people have learned already from not keeping their funds in exchanges so hearing another exchange hack stories won't weigh that much to trigger panic and worries that may cause price drops. Although the main reason is that the is not a common a exchange like Binance. But if Binance or a very common exchange is hacked, the effect would be almost insignificant also. Bitcoin will drop just little in price and increase again.
Actually, it is my first time to hear such exchange. Maybe, this is their local exchange. Though the amount is considerably huge already but it is not huge enough to make the bitcoin market swindle. It is true, exchange hack these days doesn't dictate the crypto market anymore. It may have a slight impact in the market, but it will go back to where the market was.
Hackers will always find the vulnerabilities of these trading platforms. Of course, they know, there's money in it. So that of course is their main motivation here, to extract money from these platforms.
4,502.9 BTC ($305 million) was stolen from the Japan exchange
https://www.coindesk.com/business/2024/05/31/japanese-crypto-exchange-dmm-bitcoin-suffers-305m-hack/
https://www.coindesk.com/business/2024/05/31/japanese-crypto-exchange-dmm-bitcoin-suffers-305m-hack/
There is something wrong about this story because such amount of wallet can't be a hot wallet, I have never heard of that exchange and that means they don't have much liquidity that much and that kind of Bitcoin should only be kept in a cold wallet, storing this amount of Bitcoin in a hot wallet means they don't care much about security of their custody if such amount of Bitcoin can be stolen over night, it doesn't make any iota of sense but proper investigation should help.
I also don't understand what comes next to the mind of scammers. Who steal such amount of Bitcoin when you can't spend it, the transaction will never step a foot on any exchange because it will be reported and even some exchanges should be aware of it by now since it has gotten to a media platform like Coindesk. The hacker would just be moving coins and wouldn't be able to spend, this is what physics means when you do zero work, noting is achieved here.
I know its hard to believe but there can be exchanges that are popular to a certain country and aren't found on those popular listing websites. Well, it's been proven and been on several media that they have been actually hacked. Not an unnecessary FUD but a real thing that has happened.
I understand why exchanges from third-world countries might not make it onto CoinMarketCap and CoinGecko, but the same shouldn't apply to those in Japan. If you have any insights into why they're not listed on those platforms, I'd be interested to hear them. I believe these charts help establish the credibility of exchanges. 
Whether it is a FUD or real, we have to be aware of a situation like this knowing that we are prone to such events. We may hear more stories like this in the coming days until exchanges strengthen their security.
Everything is still okay like nothing hack happens in the crypto market.
Everything is still okay like nothing hack happens in the crypto market.
The exchange hack was 3 days ago but bitcoin price has not been affected till now. We are not in the days of Mt. Gox exchange again that a single exchange has 70% of the total bitcoin. We have hundreds of exchanges now and such news is not affecting the crypto market anymore.
Although the main reason is that the is not a common a exchange like Binance. But if Binance or a very common exchange is hacked, the effect would be almost insignificant also. Bitcoin will drop just little in price and increase again.
That never happens because this exchange is small and has no influence in the market unlike Binance, Kucoin, and other big exchanges where big investors are there. It won't create panic selling because it is not worth it either. I believe that people have learned already from not keeping their funds in exchanges so hearing another exchange hack stories won't weigh that much to trigger panic and worries that may cause price drops. Although the main reason is that the is not a common a exchange like Binance. But if Binance or a very common exchange is hacked, the effect would be almost insignificant also. Bitcoin will drop just little in price and increase again.
4,502.9 BTC ($305 million) was stolen from the Japan exchange
https://www.coindesk.com/business/2024/05/31/japanese-crypto-exchange-dmm-bitcoin-suffers-305m-hack/
If this news is legit and the exchange was hacked really that it would have impacted the BTC price. Ive heard that it happened almost three days before and since then we can't see the fluctuations in BTC price that should be expected after this type of incidence.https://www.coindesk.com/business/2024/05/31/japanese-crypto-exchange-dmm-bitcoin-suffers-305m-hack/
It can happen some days later when the hackers will manipulate using the stolen BTc. Let's wait and watch but this questions the security of big exchanges.
As you also said , many days have passed and we still have not had any significant correction from bitcoin, which shows that during the bull season , news like this does not make people too scared and people don't care either .
Even banks and government websites can be hacked at any time , so you cannot expect centralized exchanges to be absolutely perfect . You should also not compare and assume that storing on personal wallets is safer than storing on exchanges. That's not wrong, but you need to understand that no hacker will take the time to attack your bitcoin wallet while your assets are very small. Meanwhile , centralized exchanges are always the top target of hackers because they hold a huge amount of money. What matters is whether they will be responsible to their users or whether they will deny responsibility. (I'm just giving reasons why exchanges are more vulnerable to attacks than personal wallets, Im not encouraging or advising anyone to store bitcoins on centralized exchanges.)
And according to the latest news, they are raising capital to buy bitcoin to compensate the victims.
https://www.coindesk.com/business/2024/06/05/crypto-exchange-dmm-bitcoin-to-raise-320m-to-pay-back-hack-victims/
4,502.9 BTC ($305 million) was stolen from the Japan exchange
https://www.coindesk.com/business/2024/05/31/japanese-crypto-exchange-dmm-bitcoin-suffers-305m-hack/
If this news is legit and the exchange was hacked really that it would have impacted the BTC price. Ive heard that it happened almost three days before and since then we can't see the fluctuations in BTC price that should be expected after this type of incidence.https://www.coindesk.com/business/2024/05/31/japanese-crypto-exchange-dmm-bitcoin-suffers-305m-hack/
It can happen some days later when the hackers will manipulate using the stolen BTc. Let's wait and watch but this questions the security of big exchanges.
Back to the OP. Why do you think it's fraud? I would imagine it as a fraud attempt only if they tell their customers that they are not going to refund them.
I think he's just asking and that's only for the sake of argument and discussion. He has given a link to a reference and it's from coindesk which is also one of the most popular sources globally for crypto news. I don't mean to sound disparaging, but it's hard to believe that an exchange with over 4,000 Bitcoin in its wallet wouldn't show up on CoinMarketCap or CoinGecko. Well-known Japanese exchanges are performing well, and there's no reason for a reputable exchange to remain hidden unless it has been hacked. This seems like unnecessary FUD.
I know its hard to believe but there can be exchanges that are popular to a certain country and aren't found on those popular listing websites. Well, it's been proven and been on several media that they have been actually hacked. Not an unnecessary FUD but a real thing that has happened. hero member
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You should correct your total because you got me searching “japani” exchange that is non-existent which I thought an actual exchange.
That is because of his local language. Most of the people in Bangladesh call Japanese as "Japani". LOL
Back to the OP. Why do you think it's fraud? I would imagine it as a fraud attempt only if they tell their customers that they are not going to refund them. But the exchange already announced that their users will get a 100% refund. As far as I heard, the exchange hackers are also suspected to be Japanese.
In another sense, it could be a fraud attempt as well. It could be a marketing strategy. First, move the funds somewhere else and there will be news, and they will have some exposure. Then promise that they will refund 100% funds to their users. This could be a fraud in this sense. But, we never know the truth.
The Bitcoin price infact increased after this hack was reported in the media. This only suggest that the crypto market is no longer prone to such news. Earlier a hack on a crypto exchange would bring the bull market. There can be other factors too that is pushing the Bitcoin price upwards. I did try to find whether it is known exchange or not and found it to be not that known exchange.
Every hack that happens can easily be verified through news from different crypto news media and websites. All it takes you is a few minutes of your time.
So, with this hack, if it's new then it will be all over the crypto websites publishing this kind of sudden attack and hack.
Since it is there and published and I have seen some, it's not a FUD because FUD is something that is not true and yet the media published it without even verification.
So, with this hack, if it's new then it will be all over the crypto websites publishing this kind of sudden attack and hack.
Since it is there and published and I have seen some, it's not a FUD because FUD is something that is not true and yet the media published it without even verification.
I don't mean to sound disparaging, but it's hard to believe that an exchange with over 4,000 Bitcoin in its wallet wouldn't show up on CoinMarketCap or CoinGecko. Well-known Japanese exchanges are performing well, and there's no reason for a reputable exchange to remain hidden unless it has been hacked. This seems like unnecessary FUD.
Did tend to make up some search in relation to this and found this one.
Hacked Japan Exchange to Raise $320 Million to Buy Bitcoin
https://www.bloomberg.com/news/articles/2024-06-05/hacked-japan-exchange-to-raise-about-320-million-to-buy-bitcoin-btc
That bloomberg paywall suck big time!Hacked Japan Exchange to Raise $320 Million to Buy Bitcoin
https://www.bloomberg.com/news/articles/2024-06-05/hacked-japan-exchange-to-raise-about-320-million-to-buy-bitcoin-btc
I did not read the whole article to know everything about the planned fund rasing, but the bits I read suggest that they are looking to raise funds from a group of companies so that they can buy back bitcoins for the affected customers.
I wonder how exactly this works. How will the group of companies benefit from the whole deal?
4,502.9 BTC ($305 million) was stolen from the Japan exchange
https://www.coindesk.com/business/2024/05/31/japanese-crypto-exchange-dmm-bitcoin-suffers-305m-hack/
Another drama with people's funds ....https://www.coindesk.com/business/2024/05/31/japanese-crypto-exchange-dmm-bitcoin-suffers-305m-hack/
Although CEXs has improved more in their security but still stands as a third party between people and their funds.
If this hacks are meant for FUD, then Bitcoin still stands with holders maintaining their holds, there's much more for a strong belief now... they keep their shits we maintain ours...
Did tend to make up some search in relation to this and found this one.
Hacked Japan Exchange to Raise $320 Million to Buy Bitcoin
https://www.bloomberg.com/news/articles/2024-06-05/hacked-japan-exchange-to-raise-about-320-million-to-buy-bitcoin-btc
DMM Bitcoin suffered one of largest hacks of a crypto platform
Exchange gathering cash to buy Bitcoin to make customers whole
This is my first time on hearing out that an exchange gathering cash to buy bitcoin or trying to recover it out.
Well its a good intiative but really that traumatizing situation for its users. This is why its never been that recommended to store
up your coins on an exchange.
"Not your keys, Not your coins" as always.
Hacked Japan Exchange to Raise $320 Million to Buy Bitcoin
https://www.bloomberg.com/news/articles/2024-06-05/hacked-japan-exchange-to-raise-about-320-million-to-buy-bitcoin-btc
DMM Bitcoin suffered one of largest hacks of a crypto platform
Exchange gathering cash to buy Bitcoin to make customers whole
This is my first time on hearing out that an exchange gathering cash to buy bitcoin or trying to recover it out.
Well its a good intiative but really that traumatizing situation for its users. This is why its never been that recommended to store
up your coins on an exchange.
"Not your keys, Not your coins" as always.
I stumbled upon this news online via social media days ago but I doubted it. It was at night while listening to evening network news and it repeated again that was when I fully believed it because of the fact that I have heard remours alot which made me not to trust anything social media news.
For the first time I am hearing about such exchange based in Japan. For it not to be as popular as others, then it might possibly be a locally based exchange in Japan operating within the local laws of the Japanese government.
Of lately Crypto exchanges have suffered hack and huge amount of money stolen by the hackers. Although this is a small amount compared to the ones stolen from these big exchanges and from the looks, the hack of this exchange have no significant impact on the Crypto space which tells you that it is a small exchange compared to other big names in the industry. I believe the Japanese government would look into this and if they are lincensed, they would be held by law to do everything necessary within the confines of the law to making sure they compensate everyone the hack affected.
For the first time I am hearing about such exchange based in Japan. For it not to be as popular as others, then it might possibly be a locally based exchange in Japan operating within the local laws of the Japanese government.
Of lately Crypto exchanges have suffered hack and huge amount of money stolen by the hackers. Although this is a small amount compared to the ones stolen from these big exchanges and from the looks, the hack of this exchange have no significant impact on the Crypto space which tells you that it is a small exchange compared to other big names in the industry. I believe the Japanese government would look into this and if they are lincensed, they would be held by law to do everything necessary within the confines of the law to making sure they compensate everyone the hack affected.
It's actually a real event, not something fake spread by the media outlets or some bigger communities to create fud in the market so people would start to buy or to sell. So I would say it's not wise to ask if it's fud because FUD means Fear, uncertainty, and Doubt. I have converted a detailed article on these terms you can find here ( Don’t Fall Prey to these Market Sentiments and Save your Bitcoin ).
Speaking of this hack, TBH I did not even know about it till reading this news, and I am almost 5 to 6 days late, so at the moment market is soaring toward $70k and many are predicting it to cross its ATH either in this hype. Maybe at that day people might have sold or bought BTC because of this news as news are always good source to make investments.
Speaking of this hack, TBH I did not even know about it till reading this news, and I am almost 5 to 6 days late, so at the moment market is soaring toward $70k and many are predicting it to cross its ATH either in this hype. Maybe at that day people might have sold or bought BTC because of this news as news are always good source to make investments.
The exchange hack was 3 days ago but bitcoin price has not been affected till now. We are not in the days of Mt. Gox exchange again that a single exchange has 70% of the total bitcoin. We have hundreds of exchanges now and such news is not affecting the crypto market anymore.
Although the main reason is that the is not a common a exchange like Binance. But if Binance or a very common exchange is hacked, the effect would be almost insignificant also. Bitcoin will drop just little in price and increase again.
Although the main reason is that the is not a common a exchange like Binance. But if Binance or a very common exchange is hacked, the effect would be almost insignificant also. Bitcoin will drop just little in price and increase again.
Correct my friend. People keep screaming about hacks. FTX was the last time a big exchange hit the whole market but that was a bigger problem of fraud and money going missing because the owner invested all funds in gambles.
Even Mt Gox BTC being sold hardly creates any ripple effect anymore.
People keep thinking that one or two big players own BTC but the reality is they don't. It is so spread out, nobody blinks if someone dumps 1000 BTC anymore. That's 70 million USD. Nothing.
-snip-
Although the main reason is that the is not a common a exchange like Binance. But if Binance or a very common exchange is hacked, the effect would be almost insignificant also. Bitcoin will drop just little in price and increase again.
Although the main reason is that the is not a common a exchange like Binance. But if Binance or a very common exchange is hacked, the effect would be almost insignificant also. Bitcoin will drop just little in price and increase again.
In my opinion, this is because this exchange is not well known by the global crypto community, so it does not have a significant impact on the global bitcoin market. However it would be different if it happened on an exchange like Binance, Kraken, or other top exchanges, it would definitely raise concerns among users and cause a slight impact on the bitcoin market due to investors' doubts on the security of these exchanges. Even though these top exchanges have reliable handling if a hack occurs on their side, this will slightly affect the psychology of investors regarding the security of these exchanges and this can have an effect on the market.
Very rare these days for a CEX to get hacked. Most have good security when it comes to cold storage. Even if an exchange gets hacked it’s usually the hot wallet and not much is compromised.
Now the bigger issue is the dex smart contracts. Usually every few weeks there is some exploit on some dex and. 9 figures worth of funds are stolen. This is why I don’t do any liquidity pools because the interest rate paid is not worth the risk of loosing 100% of your funds.
We are now with advanced technologies but I think hackers can also adapt with the change and it may not take long again for us to hear that a lot of CEX have been hacked. They can only do what you said there of storing most funds in the cold storage and hackers can't do anything with that anymore, no matter how hard they try since it was offline.Now the bigger issue is the dex smart contracts. Usually every few weeks there is some exploit on some dex and. 9 figures worth of funds are stolen. This is why I don’t do any liquidity pools because the interest rate paid is not worth the risk of loosing 100% of your funds.
Despite of that issue in DEX, it seems that it doesn't stop the people from using them again and again, no wonder why we always hear those 9 figure hacks most of the time. Guess this is what they say that high risk is always equal to high reward and maybe many of them are still up by some percent so it's fine.
I heard the news about this exchange being hacked, but it seems that it is small and does not constitute any importance and I do not find much news about it.
The problem is not the hacking of this particular exchange, but the problem is these increasing day-by-day hacks of exchanges, central and decentralized services, and bridges related to Crypto. This has become a suspicious and attention-grabbing phenomenon.
Almost every few days we hear about a hack, so I'm surprised why? Is it the result of weak protection or the development of hacker capabilities? Or are there unknown reasons?
The problem is not the hacking of this particular exchange, but the problem is these increasing day-by-day hacks of exchanges, central and decentralized services, and bridges related to Crypto. This has become a suspicious and attention-grabbing phenomenon.
Almost every few days we hear about a hack, so I'm surprised why? Is it the result of weak protection or the development of hacker capabilities? Or are there unknown reasons?
Very rare these days for a CEX to get hacked. Most have good security when it comes to cold storage. Even if an exchange gets hacked it’s usually the hot wallet and not much is compromised.
Now the bigger issue is the dex smart contracts. Usually every few weeks there is some exploit on some dex and. 9 figures worth of funds are stolen. This is why I don’t do any liquidity pools because the interest rate paid is not worth the risk of loosing 100% of your funds.
Now the bigger issue is the dex smart contracts. Usually every few weeks there is some exploit on some dex and. 9 figures worth of funds are stolen. This is why I don’t do any liquidity pools because the interest rate paid is not worth the risk of loosing 100% of your funds.
Why would it be FUD is there is actual blockchain evidence that there is an outflow of funds from the exchange's wallets? The article even explains that the hacker split the stolen bitcoin in batches of 500 BTC to different addresses.
You can see for yourself - https://metasleuth.io/result/btc/1B6rJRfjTXwEy36SCs5zofGMmdv2kdZw7P?source=a60606a8-7ef1-49ff-9926-054af27ee9c0
You can see for yourself - https://metasleuth.io/result/btc/1B6rJRfjTXwEy36SCs5zofGMmdv2kdZw7P?source=a60606a8-7ef1-49ff-9926-054af27ee9c0
Re: Btc hack from Japani Exchange again or its a fud?
A lot of times newbies tend to think that there's some secret cabal that's FUDding bitcoin so they can "crash the price and buy lower" or something like that. Sometimes, bad news is simply just that — bad news. Not everyone is trying to FUD people out of their bitcoin holdings.
The exchange name is DMM that is a strange one with me. It's my first time ever I heard about DMM exchange and searching with Coinmarketcap, Coingecko, I can not find it.
This is my first time hearing of this exchange as well, but they have handled the situation professionally because they have given their customers some guarantees, which will placate them. The news would have been significant if stories about "hacks" were new, but they are not, hence no longer significant enough to cause FUD.
The exchange name is DMM that is a strange one with me. It's my first time ever I heard about DMM exchange and searching with Coinmarketcap, Coingecko, I can not find it.
I could miss something from searching result but I am sure DMM is not a top exchange as if it is a top exchange, it will appear on top of searching result.
Effects on the market with a hack from a small exchange, would be small, not big.
Exchange graveyard
List of hacked exchanges since 2011
I could miss something from searching result but I am sure DMM is not a top exchange as if it is a top exchange, it will appear on top of searching result.
Effects on the market with a hack from a small exchange, would be small, not big.
Exchange graveyard
List of hacked exchanges since 2011
Well, I think that the bull run has something to do with why there is not that much affection at all.
Hacks like this if happened on a bear market, you will definitely see a price reaction for Bitcoin and as well as the market.
And that will also spread fear all over the community and it will create a selling force that will lessen the demand and price.
Hacks like this if happened on a bear market, you will definitely see a price reaction for Bitcoin and as well as the market.
And that will also spread fear all over the community and it will create a selling force that will lessen the demand and price.
The exchange hack was 3 days ago but bitcoin price has not been affected till now. We are not in the days of Mt. Gox exchange again that a single exchange has 70% of the total bitcoin. We have hundreds of exchanges now and such news is not affecting the crypto market anymore.
Although the main reason is that the is not a common a exchange like Binance. But if Binance or a very common exchange is hacked, the effect would be almost insignificant also. Bitcoin will drop just little in price and increase again.
Although the main reason is that the is not a common a exchange like Binance. But if Binance or a very common exchange is hacked, the effect would be almost insignificant also. Bitcoin will drop just little in price and increase again.
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You should correct your total because you got me searching “japani” exchange that is non-existent which I thought an actual exchange.
Reading the news, Seems like a legit hacking incident besides there’s no point on creating a news about hacked exchange just to FUD because that’s not working anymore. And who the heck will create FUD by inventing exchange hack news? To dumb Bitcoin price? This strategy is very outdated.
Reading the news, Seems like a legit hacking incident besides there’s no point on creating a news about hacked exchange just to FUD because that’s not working anymore. And who the heck will create FUD by inventing exchange hack news? To dumb Bitcoin price? This strategy is very outdated.
4,502.9 BTC ($305 million) was stolen from the Japan exchange
https://www.coindesk.com/business/2024/05/31/japanese-crypto-exchange-dmm-bitcoin-suffers-305m-hack/
https://www.coindesk.com/business/2024/05/31/japanese-crypto-exchange-dmm-bitcoin-suffers-305m-hack/
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