CAN BINANCE REALLY BE HACKED? THIS IS UNBELIEVABLE. - page 3.

Catmony

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Activity: 854

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Quote from: upyem2k on July 04, 2018, 03:35:15 AM

My main question now is what exchange do we now trust in term of security when it comes to being safe with our tokens?

Actually binance was not hacked, some of the binance traders got hacked because of their negligance but still security of binance can be questioned because they couldn't monitor the suspicious withdrawal request and massive un-natural pump on syscoin.

Users lost their bitcoin not the binance but we have to keep in mind that none of the exchange or web wallets are secure to store our coins.

p3ppymon

sr. member

Activity: 700

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All centralised exchanges can be hacked. No exception! Holding and trading tokens in exchanges is the least secure option amongst the others.
It is good practice for exchanges to reward a bounty in hacking competitions. That is a good investment in security. But never enough.

Clairvoyance

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Perceiving events in the future and beyond

Quote from: o_e_l_e_o on July 04, 2018, 05:03:04 AM

It wasn't hacked. Some users had their API keys phished, which is entirely their fault and nothing to do with Binance. As usual, Binance's response was swift and professional, and your funds are not at risk.

Totally agree. Binance is not hacked and it is far from hacking for it is one of the top exchange out there in the market. API keys being phished is not a new thing and it might create a buzz by the amount taken but it is not the same as hacking the exchange.

bittick

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Cryptocasino.com

Quote from: makishart on July 06, 2018, 07:41:03 PM

Quote from: isen on July 06, 2018, 06:02:07 PM

I think that the hack of the exchange is just a technical issue. All that is necessary for hackers is to be technically equipped better than the defense systems of the exchange.

There was an technical issue with syscoin API has been exploited by the scammer. In fact that the scammer able to sell syscoin at the high price and cash out their bitcoin and that makes this case become so strange for me. How did binance approve their withdrawal?

As I've heard not only that, the hackers also doing 51% attack to SYS so that the transaction can't be rolled back which also means that the hackers seem to have a really huge resource to do so.
Although it's kind of natural to say that no system is safe, the exchange better to tighten their security.

GizmoCoinTEAM

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Activity: 188

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Every exchange can be hacked. it is not an unbelievable thing. Binance hacked several times in previous years. Not only binance, many Good Exchange faced several hacking attacks. Exchanges bring many security and hackers are getting smart. The hack is now a common word in the cryptocurrency platform.

makishart

legendary

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Quote from: isen on July 06, 2018, 06:02:07 PM

I think that the hack of the exchange is just a technical issue. All that is necessary for hackers is to be technically equipped better than the defense systems of the exchange.

There was an technical issue with syscoin API has been exploited by the scammer. In fact that the scammer able to sell syscoin at the high price and cash out their bitcoin and that makes this case become so strange for me. How did binance approve their withdrawal?

isen

sr. member

Activity: 854

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I think that the hack of the exchange is just a technical issue. All that is necessary for hackers is to be technically equipped better than the defense systems of the exchange.

Melnikof

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Quote from: upyem2k on July 04, 2018, 03:35:15 AM

It was a shock to me wake up to read the news of a HACK into BINANCE which resulted into casting away of a huge sum of bitcoin amounting to 7,000 bitcoin. That is a whopping $45,000,000.
With how much we trust BINANCE in term of cyber security and some other measures put in place, how could that happen without their techs knowing?

My main question now is what exchange do we now trust in term of security when it comes to being safe with our tokens?

https://stocksgazette.com/2018/07/03/binance-potentially-hacked-for-45-million-announces-unplanned-maintenance/

Everybody knows there're no completely secure ways of the cryptocurrency storage. Those burglars in American action films, who are managed to rob the most secure bank are true to life cause it's possible to hack anything! At the time, even Pentagon servers were hacked! So you'd better hold your coins, divided into small parts, on various resources.

WOLFinTheStreet

newbie

Activity: 126

Merit: 0

With the rise in popularity of crypto currency, concern of the cyber security of crypto currency has increased. The reports of hacking of exchange sites and users facing phishing site has increased significantly. It is wise for users to hold their tokens in wallet rather than in an exchange site, also t9 be careful before going to any links, as they can be phishing sites.

cabin

sr. member

Activity: 604

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Quote from: JanitorMan on July 04, 2018, 05:39:13 AM

I don't think Binance has been hacked, they also don't have any announcement of hacking on their exchange. However, in my own opinion, every exchange has potentially to be getting hacked no matter what, we need to always be aware and take the risks. Always remember, "don't put all of your eggs in one basket".

I agree with you but I still do not think binance is hacked, because they are very good security for token and are also reliable but to avoid your account being hacked, I think you should try to keep your private key very safe and avoid clicking on all phising sites sent to you because hackers are very intelligent and they use this medium to get information from people.

Cryptoguru274

member

Activity: 280

Merit: 10

Quote from: upyem2k on July 04, 2018, 03:35:15 AM

It was a shock to me wake up to read the news of a HACK into BINANCE which resulted into casting away of a huge sum of bitcoin amounting to 7,000 bitcoin. That is a whopping $45,000,000.
With how much we trust BINANCE in term of cyber security and some other measures put in place, how could that happen without their techs knowing?

My main question now is what exchange do we now trust in term of security when it comes to being safe with our tokens?

https://stocksgazette.com/2018/07/03/binance-potentially-hacked-for-45-million-announces-unplanned-maintenance/

I think in every online business there is always a likelihood of system vulnerability, that was the case of Binance which had an API keys attack on Syscoin (SYS. Most times it can a little carelessness on the part of the developers, however there quick intervention is part of the business. This should not create panic on the crypto ecosystem. Presently there is system maintenance going on now.

pey

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Binance was not hacked but every centralized exchanges can be hacked, besides that most things are hackable you can just decrease the possibility of that by taking some measures but not say it is fully safe.

iAMawi123

member

Activity: 350

Merit: 11

Binance should cooperate with Hydrogen project. They can really help the website's security and also the user's security! If you guys are curious about the Hydrogen platform, then this is their website, https://www.hydrogenplatform.com/ check it out!

rami.alkhakimi

newbie

Activity: 84

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As far as I know, the Syscoin blockchain was hacked, so Binance had nothing to do with it, if it really was.

JanitorMan

newbie

Activity: 30

Merit: 0

I don't think Binance has been hacked, they also don't have any announcement of hacking on their exchange. However, in my own opinion, every exchange has potentially to be getting hacked no matter what, we need to always be aware and take the risks. Always remember, "don't put all of your eggs in one basket".

isaevArb

newbie

Activity: 112

Merit: 0

Another "great" news that make people think that crypto is full of fraud, scam, and hackers, when this "hack" may be the fault of users themselves Undecided

Mass media do whatever they want to destabilize the situation on the market Angry

crampus

member

Activity: 252

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This is the best exchange, in my opinion. But maybe it was specially done, and there was not any hacker attack.

Enochian

full member

Activity: 327

Merit: 124

Quote from: oluwatuyideborah on July 04, 2018, 05:09:29 AM

The answer to your question is very simple, trust no exchange with your tokens, always keep your tokens in a wallet you alone have the private keys to, hackers are getting smarter on daily basis, send tokens to an exchange when you want to sell and withdraw immediately. Stay safe

What should I do if coin don't have wallet yet? Do not buy such? Or what? Such cases as today's Binance need for manipulations and fud creation. I make some trade on the Binance but with API hack or phishing I don't know it become very unsafe and sad

Bitico777

member

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The P2P Marketplace For Digital Content

Please, let's wait for the answer from binance. We should not spread the negative, I think that all the problems will be solved.

mrphilippine

newbie

Activity: 140

Merit: 0

This is sad but we token holders are vulnerable to hacking. Better avoid fishy sites that requesting you offers that can lead throwing your information. Investors now are losing of trust because of this security issue and somehow hackers are getting better and better every single day.

Topic: CAN BINANCE REALLY BE HACKED? THIS IS UNBELIEVABLE. - page 3. (Read 354 times)