Cryptopia exchange hacked - page 20.

Jating

hero member

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Quote from: mangsitin on January 15, 2019, 11:41:53 PM

That is a row of bad news that continues to occur on Cryptocurrency, a week ago we saw the Gate.io market has been hacked and thieves stole Coin Ethereum Classic, and now we all mourn because the Cryptopia market has been crushed, I hope to all exchange markets to be careful to protect user assets, so hacking does not happen again.

I'm sure that exchanges are really doing their best to protect user's assets, but remember that hackers are very smart and intelligent as well, they're like one step ahead of the game every time.

So as much as we don't like to see exchange being hack, it will occur. The only thing we can do is not to put all our money in an exchange so that in a event of a hack like this, we won't see our funds swept in a blink of an eye.

mangsitin

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Activity: 546

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That is a row of bad news that continues to occur on Cryptocurrency, a week ago we saw the Gate.io market has been hacked and thieves stole Coin Ethereum Classic, and now we all mourn because the Cryptopia market has been crushed, I hope to all exchange markets to be careful to protect user assets, so hacking does not happen again.

pooya87

legendary

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Quote from: dothebeats on January 15, 2019, 08:20:27 AM

It's quite unusual that even at this day and age, with a lot of techniques and new practice on safeguarding a platform, hackers are still able to get through even with the robust of security systems. I wonder how tight their security are and what their system admins do for the hackers to still find a vulnerability on the platform. Also, this stresses the age-old question of whether to keep your funds in an exchange or not, and the answer is laid right before our eyes every time a theft occurs.

there is nothing unusual about it because simply there is no computer security system in the whole world that is impenetrable. every system has some weakness. some have less and some have more but all of them can be broken into and when the incentive is high enough (in this case a large amount of money) there will be lots of attempts.

besides, most cases of exchange hacks were fake news where the exchange itself tricked their users and stole their money because they were going bankrupt and wanted to save their asses.

flemmings02

jr. member

Activity: 182

Merit: 2

It's barely 15 days in to 2019 and this happened. I just do not want 2019 us to have another 2019 with many crypto exchange hacks like it was in the last year, The hack is also a factor that affect the decline in prices last year after huge sell orders of those stolen assets.

Juggy777

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Quote from: mk4 on January 15, 2019, 06:22:04 AM

Good timing, ain't it? Just 2 weeks after the "Proof of Keys" event. Remember: "NOT YOUR KEYS, NOT YOUR BITCOIN" -Aantonop

From Cryptopia_NZ Twitter(https://twitter.com/Cryptopia_NZ/status/1085084168852291586):

Hey this is a bad event and I can’t help but feel sad for all those people who had coins on Cryptopia, I wish they’ll be able to withdraw their coins going ahead. In my initial days I used to hold my coins on exchanges, but then I realised despite all their securities they cannot be trusted. I have repeatedly said here, and will keep on saying your coins are safer in a wallet with you rather than a exchange, which are a must avoid.

Commitments

member

Activity: 532

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Last day Cryptopia exchange hacked and make news about bitcoin will be negative, I don't how come biggest exchange market could be hacked by some people, how about their security safe or not, before making bigger exchange why not keep added best security for their exchange.

BlackPanda

legendary

Activity: 1414

Merit: 1001

This is bad news, when there is a hacking action on the exchange then it will make a bad impact on the market situation of Bitcoin and Altcoin. The fact is that in fact there has been a decline in prices, this has also happened for several years and caused prices to drop dramatically. This is why we must choose an exchange that does have very good security features, a good reputation will make the exchange more secure and reliable.

mk4

legendary

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Paldo.io 🤖

Quote from: pugman on January 15, 2019, 06:16:25 PM

*snip*

We already have DEXs, but none of them are user friendly enough to beat centralized exchanges unfortunately. Better DEXs will come in time I guess.

Quote from: KingScorpio on January 15, 2019, 08:42:42 AM

waves dex never suffers from hack attacks,
stop using centralised exchanges

This is actually the first time that I somewhat slightly agree with you to a certain extent.

Quote from: Birb on January 15, 2019, 03:59:11 PM

I never used this exchange. I strictly use Binance for the security. I hope anyone that lost some ETH will get their funds back.

As much as I want people to get their stolen funds back, I highly highly doubt it. Also, I hope you don't see Binance as something "unhackable", because they really aren't.

Quote from: Dreamchaser21 on January 15, 2019, 06:34:06 PM

Quote from: mk4 on January 15, 2019, 06:22:04 AM

"NOT YOUR KEYS, NOT YOUR BITCOIN" -Aantonop

I’m quiet scared on this line, and I hope no more exchange will be hack especially with binance.

Hoping wont stop it from happening. Binance might be more secure compared to others, but Binance is NOT invulnerable to hacks. Nothing is. The best way to protect yourself is to learn how to secure your funds by yourself.

bitcoinsc

jr. member

Activity: 439

Merit: 1

If I had kept my money in the bank it would still be there. But now I'm in this situation that my funds are held. So much for sound money. Every 6 months the exchanges gets hacked. This is not gonna drive adoption or fomo.

Dreamchaser21

full member

Activity: 686

Merit: 108

Quote from: evanescence on January 15, 2019, 03:54:08 PM

They lost around 20k ETH.
A token listing there cost 350 ETH at one point (paid in DOT).
They listed around 500 tokens.
Their fees are amongst the highest in crypto.

I think they have a responsibility to use their profits and put the exchange back on live.

They will live again only if they are serious to solve this problem. its sad to hear another news like this and I thought we already learn from the previous hacking incedents with the big exchanges.

Quote from: mk4 on January 15, 2019, 06:22:04 AM

"NOT YOUR KEYS, NOT YOUR BITCOIN" -Aantonop

I’m quiet scared on this line, and I hope no more exchange will be hack especially with binance.

pugman

legendary

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dogs are cute.

What the hell?

Ugh, can we ever get an exchange that allows you to have your own keys? EVER? Jesus fucking Christ, we only need more reasons to show people how things change.

Is there any word on whether or not the lost funds would be compensated to its users?

creeps

full member

Activity: 742

Merit: 144

Quote from: KingScorpio on January 15, 2019, 08:42:42 AM

waves dex never suffers from hack attacks,

stop using centralised exchanges

It is still not guaranteed that decentralized exchanges are safe. This is very unfortunate for cryptopia to suffer from a breach or what. This is alarming now because a lot of exchanges now are already hacked or suffer from this system breach, this can affect the market and of course the trust of every investors, we should choose a more safe exchange which I think its hard to find now.

pcfli

legendary

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SafeHaven.Finance

Quote from: mk4 on January 15, 2019, 06:22:04 AM

Good timing, ain't it? Just 2 weeks after the "Proof of Keys" event. Remember: "NOT YOUR KEYS, NOT YOUR BITCOIN" -Aantonop

From Cryptopia_NZ Twitter(https://twitter.com/Cryptopia_NZ/status/1085084168852291586):

I always choose other methods for storing my crypto especially my bitcoins. Cryptopia is not A class exchange and they always delay withdrawals no matter how much you want to cash out. Hope hacked exchanges will be able to gave back losses to customers.

BitMaxz

legendary

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Playbet.io - Crypto Casino and Sportsbook

I have few coins on Cryptopia it seems that my coins will be stuck forever. Well, it's not big amount but those coins are coins that I mined last year.
I'm a little bit late to know this news honestly.

Let's hope that Cryptopia will be back online with a piece of good news but if they announce bad news that all coins are gone better to move on. I am sure they will never give our coins back.

And I'm sure there is a big price drop coming.

rodel caling

full member

Activity: 952

Merit: 104

Really sadness news specially to the users cryptopia exchange, but nothing to do these bad news is to wait the system become fix and thhe management promise to give update for this matter.
Hope this news not affected the bitcoin price going to drops lower than today value, and for the cryptopia exchange management i think this a lesson to always exchange the technique of how to secured theirs interest to avoid this hacking scenario.

BitHodler

legendary

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Quote from: slothbattery on January 15, 2019, 04:43:37 PM

Even though these hackings are quite normal for a person who is in this field for a long time, they might frighten newcomers.

I don't think newcomers are that frightened to be honest. If they really were, they wouldn't blindly use an exchange that has quite a bad reputation in the industry, which is very easy to fact check by using Google.

People nowadays Google everything, so there isn't much preventing them from doing the same with crypto exchanges. These exchanges are attractive because they list utter shitcoins other exchanges don't want to list.

It creates an incentive for people to sign up and send funds over to an exchange as Cryptopia. People like investing in shitcoins because they are cheap and pump harder than the top tier crypto currencies.

slothbattery

brand new

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Another push back towards adoption. Even though these hackings are quite normal for a person who is in this field for a long time, they might frighten newcomers. Glad I don't keep anything in exchanges anymore, after MTgox

abstractednerve

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Bcnex - The Ultimate Blockchain Trading Platform

Quote from: avikz on January 15, 2019, 06:43:15 AM

The list of hacked exchanges are just getting larger. That is the downfall of the strictly centralized exchanges. In 2018, hackers managed to syphon out around 731 million usd from exchanges and cryptopia is the first one in 2019. I am sure, this is not the end and the list will grow even larger in 2019.

Can decentralized exchanges be the solution to prevent such hacks? Since centralized exchanges keep their money into a centralized location, it's lucrative for the hackers. But in decentralized exchanges, handling of money is controlled by the users and not kept in a centralized location. What do you guys think? Should we pay more attention to decentralized exchanges going forward?

That's why I like to trade in decentralized exchanges. Though IDEX is getting centralized by their behavior, they are bringing KYC procedure for the asset withdraw! I always prefer the forkdelta/Etherdelta to buy tokens, but the sad part is, after a huge amount of money scam in centralized exchanges, people are still not interested in decentralized exchanges! I don't why! Even binance is not safe enough for long term holding! Actually, we need more decentralized exchanges with active support, One day traders will make a crowd in DEX Exchanges.

abstractednerve

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Bcnex - The Ultimate Blockchain Trading Platform

Quote from: KingScorpio on January 15, 2019, 08:42:42 AM

waves dex never suffers from hack attacks,

stop using centralised exchanges

Decentralized exchanges are also not secure enough, mate. Last year, Bancor faced a massive hacking incident and 23 Million USD was taken by the hackers! Therefore, Etherdelta exchanges had a few hacking experiences! But Overall, in this way, Decentralized exchanges are better than Centralized ! At least my funds are the only mine, not for any others cold wallet or centralized wallet!

miner2k

newbie

Activity: 13

Merit: 0

A sad day indeed. Someone walked away with a couple of million that doesn't belong to them. A lot of people took a horribly unfair hit.. and the damage done to crypto continues to climb. To the Cryptopia Hacker.. You are a disgrace to the technology and the human race as a whole.

Topic: Cryptopia exchange hacked - page 20. (Read 4128 times)