Topic: BTC38 hot wallet got hacked and lost 1.5 million - page 4. (Read 15726 times)
I thought such hacking should make the price for bitcoin to fall down. But just look at the current price! It's already crossed the point of 900$! When is going to ne 1000$ with such temps? in the end of the day probably.
I actually hope that customers won't lose trust in them, because btc38 has now learned their lesson and will pay way more attention to security in the future, compared to other exchanges who haven't been hacked.
Trust is like a mirror. Once broken, it is pretty difficult to restore at the previous condition.
Well I salute bit38 for taking responsibility for the accidents unlike other companies after being hacked they don't refund or replace their clients investments. This just show how bit38 is serious about providing good services to their clients and how trusted and stable they are. More power to bit38 and hope the hacker may be caught.
It is a small amount compared to other exchanges that got hacked. If it was millions of dollars, they would not have done this. The main thing now is the loss of trust, and this is normally where the guys fold. People stop using the service because they got hacked and the exchange lose more money in fees than they lost in the hack. The other thing is, they lose potential new customers too, because of their bad security history.
These hacks are doing a lot more harm than we think, and it has a very big ripple affect in the industry.
Well I salute bit38 for taking responsibility for the accidents unlike other companies after being hacked they don't refund or replace their clients investments. This just show how bit38 is serious about providing good services to their clients and how trusted and stable they are. More power to bit38 and hope the hacker may be caught.
It is a small amount compared to other exchanges that got hacked. If it was millions of dollars, they would not have done this. The main thing now is the loss of trust, and this is normally where the guys fold. People stop using the service because they got hacked and the exchange lose more money in fees than they lost in the hack. The other thing is, they lose potential new customers too, because of their bad security history.
These hacks are doing a lot more harm than we think, and it has a very big ripple affect in the industry.
Well I salute bit38 for taking responsibility for the accidents unlike other companies after being hacked they don't refund or replace their clients investments. This just show how bit38 is serious about providing good services to their clients and how trusted and stable they are. More power to bit38 and hope the hacker may be caught.
it is sadly to know and hear about btc38 got hacked and i hope this won't give bad affect for the price of bitcoin. we know that the bitcoin price is going to go up but we don't know how much the price will be high. beside that, i hope that for btc38 itself need to fix their security website so this is not happen for future and the member of btc38 can feel save while they do trading in that site.
You are right. They do implement some countermeasures. And I will forward the post to btc38.
it is sadly to know and hear about btc38 got hacked and i hope this won't give bad affect for the price of bitcoin. we know that the bitcoin price is going to go up but we don't know how much the price will be high. beside that, i hope that for btc38 itself need to fix their security website so this is not happen for future and the member of btc38 can feel save while they do trading in that site.
I think, at this time, hackers are targeting sites that have a lot of BTC, and can make them benefit. I think this is very dangerous, and I'm sure they will not stop here. Well, the current bitcoin prices are rising, if there is a site that has many bitcoin, back hacked, bitcoin prices probably will fall back.
somebody lost there job for that one... that is terrible.
Thats a huge loss! Hackers can do anything now. So we cant just be too confident that this will not happen to you. It can happen to all of us. The user is careless thats why he loss his funds. But i dont it will affects the bitcoin price. This is a warning for us. So be careful in everything we do.
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After few hackings to the exchangers site had occurred now its time for the rest exchangers whose bitcoin still in their hot wallets to measure their security again. This shit will always repeat itself because this is about money. I sometimes wonder why exchangers don't put their security in the top while if they got hacked they could lose so much money in just a day and probably can't recover it back. Just hoping no balances cut off for their clients like what have happened to bitfinex
2 hours later, another 8btc thread gave out the true reason: BTC38 was hit by a hacker with approximate loss of 1.5 million RMB.
“As a result of the server logic problems on 21st Dec, more than 10 million Bitshares, over 10 million NXT and some BTC/LTC were stolen from the exchange’s hot wallet (estimated total loss of 1.5 million RMB). We shut down the server immediately and stayed up all night to fix the problem. We have reviewed our wallet deployment plan and made new adjustments. We will take full responsibility for the total loss of the digital asset (market buyback).” The most important assurance is that all funds are safe in the hands of BTC38.
BTC38 explained the delay to calm down the market:“As we are currently redeploying the wallet, the service for certain coins will be resumed gradually.”
http://news.8btc.com/exclusive-btc38-hot-wallet-got-hacked-and-lost-1-5-million
The traders whom make investment on bitshares, NXT, LTC. They must becareful with this condition because the dumping will become without announcement. “As a result of the server logic problems on 21st Dec, more than 10 million Bitshares, over 10 million NXT and some BTC/LTC were stolen from the exchange’s hot wallet (estimated total loss of 1.5 million RMB). We shut down the server immediately and stayed up all night to fix the problem. We have reviewed our wallet deployment plan and made new adjustments. We will take full responsibility for the total loss of the digital asset (market buyback).” The most important assurance is that all funds are safe in the hands of BTC38.
BTC38 explained the delay to calm down the market:“As we are currently redeploying the wallet, the service for certain coins will be resumed gradually.”
http://news.8btc.com/exclusive-btc38-hot-wallet-got-hacked-and-lost-1-5-million
I don't know if about the bitcoins that be stolen will become impact on the price or not, but it is time for beware there are no body know the bitcoins will get dumping too.
1.5 Mil ? Damn ! Ouch ! I dont know how these guys recover from these things ? The article doesnt tell you how it happened though. I suppose for their protection. Now they habe the cyber police helping. But helping do what ? What are they going to do ? The guys gone the bitcoins are clean by now and goof its as if the hacker never existed.
2 hours later, another 8btc thread gave out the true reason: BTC38 was hit by a hacker with approximate loss of 1.5 million RMB.
“As a result of the server logic problems on 21st Dec, more than 10 million Bitshares, over 10 million NXT and some BTC/LTC were stolen from the exchange’s hot wallet (estimated total loss of 1.5 million RMB). We shut down the server immediately and stayed up all night to fix the problem. We have reviewed our wallet deployment plan and made new adjustments. We will take full responsibility for the total loss of the digital asset (market buyback).” The most important assurance is that all funds are safe in the hands of BTC38.
BTC38 explained the delay to calm down the market:“As we are currently redeploying the wallet, the service for certain coins will be resumed gradually.”
http://news.8btc.com/exclusive-btc38-hot-wallet-got-hacked-and-lost-1-5-million
“As a result of the server logic problems on 21st Dec, more than 10 million Bitshares, over 10 million NXT and some BTC/LTC were stolen from the exchange’s hot wallet (estimated total loss of 1.5 million RMB). We shut down the server immediately and stayed up all night to fix the problem. We have reviewed our wallet deployment plan and made new adjustments. We will take full responsibility for the total loss of the digital asset (market buyback).” The most important assurance is that all funds are safe in the hands of BTC38.
BTC38 explained the delay to calm down the market:“As we are currently redeploying the wallet, the service for certain coins will be resumed gradually.”
http://news.8btc.com/exclusive-btc38-hot-wallet-got-hacked-and-lost-1-5-million
1.5 million RMB isn't as bad as the Bitfinex hack. In fact it is around the level of the small sized hack that happened to a small company called shapeshift. They didn't suffer that much from it, I doubt BTC38 being a bigger exchange would either.
It is only their CEO's years salary or less, I think that their promise to take on full responsibility will be redeemed without issue.
As per the btc38 page, Top 1 holder of btc in btc38 has 5,700 coins.
2 hours later, another 8btc thread gave out the true reason: BTC38 was hit by a hacker with approximate loss of 1.5 million RMB.
“As a result of the server logic problems on 21st Dec, more than 10 million Bitshares, over 10 million NXT and some BTC/LTC were stolen from the exchange’s hot wallet (estimated total loss of 1.5 million RMB). We shut down the server immediately and stayed up all night to fix the problem. We have reviewed our wallet deployment plan and made new adjustments. We will take full responsibility for the total loss of the digital asset (market buyback).” The most important assurance is that all funds are safe in the hands of BTC38.
BTC38 explained the delay to calm down the market:“As we are currently redeploying the wallet, the service for certain coins will be resumed gradually.”
http://news.8btc.com/exclusive-btc38-hot-wallet-got-hacked-and-lost-1-5-million
“As a result of the server logic problems on 21st Dec, more than 10 million Bitshares, over 10 million NXT and some BTC/LTC were stolen from the exchange’s hot wallet (estimated total loss of 1.5 million RMB). We shut down the server immediately and stayed up all night to fix the problem. We have reviewed our wallet deployment plan and made new adjustments. We will take full responsibility for the total loss of the digital asset (market buyback).” The most important assurance is that all funds are safe in the hands of BTC38.
BTC38 explained the delay to calm down the market:“As we are currently redeploying the wallet, the service for certain coins will be resumed gradually.”
http://news.8btc.com/exclusive-btc38-hot-wallet-got-hacked-and-lost-1-5-million
1.5 million RMB isn't as bad as the Bitfinex hack. In fact it is around the level of the small sized hack that happened to a small company called shapeshift. They didn't suffer that much from it, I doubt BTC38 being a bigger exchange would either.
It is only their CEO's years salary or less, I think that their promise to take on full responsibility will be redeemed without issue.
RMB = CNY, seems that this hack hasn't affected the bitcoin price today, contrariwise the bitcoin price has been increased today for 100 USD
It's bad to hear like this news about hacks and especially related to exchanges which are very sensitive and hacker's target, that's why nowadays the security is the most important thing in an exchange.
It's bad to hear like this news about hacks and especially related to exchanges which are very sensitive and hacker's target, that's why nowadays the security is the most important thing in an exchange.
Thats why its not really safe to store your funds on any exchange because it is prone from hack by the hackers. We all know that. The stolen amount.is not joke. Its still huge to me. Its not wise to store all your funds on any exchange sites for a long time. They should maximized their security because its their customers funds.
Unfortunately, most of us don't know about it. Sometimes I think, why with blockchain technology people still lost their money, it seems to need some step refinement of the bitcoin system so that could be more secure. My advice, do not ever save large amounts of our money in one place, let alone the exchanger. 
Dex on the WAVES, will help to avoid this 
Thats why its not really safe to store your funds on any exchange because it is prone from hack by the hackers. We all know that. The stolen amount.is not joke. Its still huge to me. Its not wise to store all your funds on any exchange sites for a long time. They should maximized their security because its their customers funds.
whenever i see any news like it i dream why can't i hack something :p hey will anyone gonna teach me how to hack something or how did that guys hacked this site or exchange. ofcourse its the hardest thing to find vurnability from that much secure site but still it seems pritty exicited
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