This is not the first time exchanges have been attacked, and we will face many more attacks in the future. Decentralized exchanges are safer but it still has many problems to solve
Expect things to happen as hackers are just monitoring the market, we should always learned from past experiences that we encountered along the way, there's already a lots of same stories regarding to exchange attacks or wallets been compromised and being sucked by hackers.
Topic: Exchange and Hacks - page 3. (Read 1042 times)
I believe that hackers are able to do a lot of trouble in the cryptocurrency market and spoil the reputation of even the well-known exchanges, it can play a huge role in the growth of the market. Therefore, the transition to decentralization is inevitable, I think it will be a primary goal for many exchanges in the near future and will affect the growth of the cryptocurrency market.
2019 is yet to experience a massive bull run, however, but it's already beginning to look like the year of the hacks for the crypto community. Hackers have proven to be no respecter of exchange size and reputation with the latest attack on the binance exchange.
Before the hack on binance which saw the hackers taking off with crypto worth 40 million dollars, the crypto community has previously experienced hacks on coinbene and cryptopia exchange with both parties refusing to state the level of damage and value of crypto assets stolen by the hackers.
The question every crypto enthusiasts should be thinking now is that if hackers can still penetrate almighty binance with all their claims of having the best cybersecurity measures, is any other centralized exchange safe? What if the binance team didn't have SAFU funds to cater for situations what would have been the fate of affected traders on the binance platform?.
While I leave the floor open for comments and suggestions regarding the subject matter, I would like to quickly chip in that this is a wake-up call for crypto enthusiasts and developers alike. The growing prominence of blockchain technology and crypto will make it a threat to more attacks in the future, and if measures aren't put in place, this hackers may cause irreversible mayhem to the crypto community in the nearest future. A switch to decentralized exchange with support for multiple blockchains is the best option on my mind right now.
Feel free to share your thoughts and opinions on the topic.
No centralized exchange is safe when you store your crypto currencies there.Before the hack on binance which saw the hackers taking off with crypto worth 40 million dollars, the crypto community has previously experienced hacks on coinbene and cryptopia exchange with both parties refusing to state the level of damage and value of crypto assets stolen by the hackers.
The question every crypto enthusiasts should be thinking now is that if hackers can still penetrate almighty binance with all their claims of having the best cybersecurity measures, is any other centralized exchange safe? What if the binance team didn't have SAFU funds to cater for situations what would have been the fate of affected traders on the binance platform?.
While I leave the floor open for comments and suggestions regarding the subject matter, I would like to quickly chip in that this is a wake-up call for crypto enthusiasts and developers alike. The growing prominence of blockchain technology and crypto will make it a threat to more attacks in the future, and if measures aren't put in place, this hackers may cause irreversible mayhem to the crypto community in the nearest future. A switch to decentralized exchange with support for multiple blockchains is the best option on my mind right now.
Feel free to share your thoughts and opinions on the topic.
We should start using DEX to avoid hacks in future but still it will take time for the adoption will happen in meanwhile Binance also will increase their security measures which can save them from future hack attacks hopefully.
well, as i know a centralized exchange always become the first target of hacker who interested with cryptocurrencies
and because of that, all of us should keep our assets in our personal wallet, maybe a hardware wallet is the best choice my friend
and because of that, all of us should keep our assets in our personal wallet, maybe a hardware wallet is the best choice my friend
After hacking the Binance exchange, we can no longer be sure that any centralized exchange can be secure. However, Binance quickly solved this problem and the news of the hacking did not have a negative impact on the market.
We are talking about Binance here since they have a great standard on securing their exchanges, but if others exchange hacked again I think the market will panic because they are not confident on other exchanges to do the same thing with Binance. Centralized exchange should be more secured and yet, they are still vulnerable we have to think better now and stop trusting too much the exchanges. 
I already read that numvber of hacker before. This is very alarming. Imagine that we are only in almost half of the year yet the number of fraud is already huge. I think we really need centralization and legalization. Because hackers are did afraid because there is no law to punish them. I hope crypto world need to innovate their security soecially in mobile wallets.
This proves once again that the best place to store your coins is a hardware wallet. I think if you value your safety and value your money, you will not regret the money for the hardware wallet. Exchanges are suitable only for transactions, not for storage. But if you are a trader, then you should not keep all your coins on one exchange.
2019 is yet to experience a massive bull run, however, but it's already beginning to look like the year of the hacks for the crypto community. Hackers have proven to be no respecter of exchange size and reputation with the latest attack on the binance exchange.
Before the hack on binance which saw the hackers taking off with crypto worth 40 million dollars, the crypto community has previously experienced hacks on coinbene and cryptopia exchange with both parties refusing to state the level of damage and value of crypto assets stolen by the hackers.
The question every crypto enthusiasts should be thinking now is that if hackers can still penetrate almighty binance with all their claims of having the best cybersecurity measures, is any other centralized exchange safe? What if the binance team didn't have SAFU funds to cater for situations what would have been the fate of affected traders on the binance platform?.
While I leave the floor open for comments and suggestions regarding the subject matter, I would like to quickly chip in that this is a wake-up call for crypto enthusiasts and developers alike. The growing prominence of blockchain technology and crypto will make it a threat to more attacks in the future, and if measures aren't put in place, this hackers may cause irreversible mayhem to the crypto community in the nearest future. A switch to decentralized exchange with support for multiple blockchains is the best option on my mind right now.
Feel free to share your thoughts and opinions on the topic.
The frequent hacking of cryptocurrency exchanges call for concern, it is high time exchanges find necessary security measures that will counter the smartness of these scammers. Before the hack on binance which saw the hackers taking off with crypto worth 40 million dollars, the crypto community has previously experienced hacks on coinbene and cryptopia exchange with both parties refusing to state the level of damage and value of crypto assets stolen by the hackers.
The question every crypto enthusiasts should be thinking now is that if hackers can still penetrate almighty binance with all their claims of having the best cybersecurity measures, is any other centralized exchange safe? What if the binance team didn't have SAFU funds to cater for situations what would have been the fate of affected traders on the binance platform?.
While I leave the floor open for comments and suggestions regarding the subject matter, I would like to quickly chip in that this is a wake-up call for crypto enthusiasts and developers alike. The growing prominence of blockchain technology and crypto will make it a threat to more attacks in the future, and if measures aren't put in place, this hackers may cause irreversible mayhem to the crypto community in the nearest future. A switch to decentralized exchange with support for multiple blockchains is the best option on my mind right now.
Feel free to share your thoughts and opinions on the topic.
decentralized exchange to me isn't the solution, there are cases where decentralized were hacked too. i think the solution is to find a hard to crack security measures.
Binance told that they were stoling so many dollars because of what? They are smart and professional and they wanted to refund all their losses to their clients or customers. This is why Binance is the top exchange beside the other.s
Bud, every exchange would be top exchange if they got so much volume and traders, you know. And then every exchange will think like Binance, I mean wanting to return users investments. Maybe not all, but probably the most because they would like to be loved and used by the traders.
What if there wasn't SAFU? What then?
Binance told that they were stoling so many dollars because of what? They are smart and professional and they wanted to refund all their losses to their clients or customers. This is why Binance is the top exchange beside the other.s
The alternative methods of big or small exchanges must be prepared for the prevention of hackers. If they do not, then the general investor should be prepared to deal with many losses. And investors will lose interest in investing. It requires a full solution.
2019 is yet to experience a massive bull run, however, but it's already beginning to look like the year of the hacks for the crypto community. Hackers have proven to be no respecter of exchange size and reputation with the latest attack on the binance exchange.
Before the hack on binance which saw the hackers taking off with crypto worth 40 million dollars, the crypto community has previously experienced hacks on coinbene and cryptopia exchange with both parties refusing to state the level of damage and value of crypto assets stolen by the hackers.
The question every crypto enthusiasts should be thinking now is that if hackers can still penetrate almighty binance with all their claims of having the best cybersecurity measures, is any other centralized exchange safe? What if the binance team didn't have SAFU funds to cater for situations what would have been the fate of affected traders on the binance platform?.
While I leave the floor open for comments and suggestions regarding the subject matter, I would like to quickly chip in that this is a wake-up call for crypto enthusiasts and developers alike. The growing prominence of blockchain technology and crypto will make it a threat to more attacks in the future, and if measures aren't put in place, this hackers may cause irreversible mayhem to the crypto community in the nearest future. A switch to decentralized exchange with support for multiple blockchains is the best option on my mind right now.
Feel free to share your thoughts and opinions on the topic.
Hackers haven't been sleeping lately, they have been trying every means possible to make sure they hack as many exchanges as possible in order to take their coin for themselves, this is why exchanges currently need to upgrade on their security because we might see even more hacks before the year runs out since the price of bitcoin is now becoming so valuable within a short period of time, I think this exchanges should employ white hackers that would help protect their exchange from possible hack. Before the hack on binance which saw the hackers taking off with crypto worth 40 million dollars, the crypto community has previously experienced hacks on coinbene and cryptopia exchange with both parties refusing to state the level of damage and value of crypto assets stolen by the hackers.
The question every crypto enthusiasts should be thinking now is that if hackers can still penetrate almighty binance with all their claims of having the best cybersecurity measures, is any other centralized exchange safe? What if the binance team didn't have SAFU funds to cater for situations what would have been the fate of affected traders on the binance platform?.
While I leave the floor open for comments and suggestions regarding the subject matter, I would like to quickly chip in that this is a wake-up call for crypto enthusiasts and developers alike. The growing prominence of blockchain technology and crypto will make it a threat to more attacks in the future, and if measures aren't put in place, this hackers may cause irreversible mayhem to the crypto community in the nearest future. A switch to decentralized exchange with support for multiple blockchains is the best option on my mind right now.
Feel free to share your thoughts and opinions on the topic.
Hackers are professionals who sometimes should be employed by some of this exchanges, in order to help in fortifying their exchanges security system.
So e of the have trued I that capacity, but the more they do that, the harder the external hackers try.
So e of the have trued I that capacity, but the more they do that, the harder the external hackers try.
No exchange is safe ! That’s just what the whole story tells. You simply know how weak something is when it’s exposed. Take control of your funds and store in a place where only you have access to it. This is simply the best to do.
No where is safe, there have been several exchange hacks these years that needs to be scrutinize to bring out the cause. Many millions have gone away and its becoming rampant. people now don't know what to do. Always let remember any hack of these sort has some negative effect on the market.
You are too late to realize year of hacks. Hacking issue has begun since 2018 when several exchanges reported that their funds were stolen. I wish what just happened to Binance is the last of this issue. This year should be the time for Bitcoin to gain its positive trends and not about hacks anymore.
You were too late either for the exchange site hacking issue begun in the year 2013 with cex and the Binance will definitely not be the last issue if exchange site don't upgrade there cyber security. However, the only exchange which I have never hear any hack issue about it is coin base.Binance never think if their security still has a bug and that's it
They must always try to see and watch the transaction in the exchange site to able to find the security breached related to the WD issue.
Hackers are always there, just waiting the right timing to look for the weak spot of every exchange. Small or big exchanges, they are not free from hackers. It is all about money after all. So every exchange should have the responsibility to update their security every once in a while because softwares or apps are getting sophisticated as time goes by. Their security measures may already be outdated even in few months time. So they need to be always on the lookout for the better one so they will not be left behind.
You are too late to realize year of hacks. Hacking issue has begun since 2018 when several exchanges reported that their funds were stolen. I wish what just happened to Binance is the last of this issue. This year should be the time for Bitcoin to gain its positive trends and not about hacks anymore.
You were too late either for the exchange site hacking issue begun in the year 2013 with cex and the Binance will definitely not be the last issue if exchange site don't upgrade there cyber security. However, the only exchange which I have never hear any hack issue about it is coin base.Binance never think if their security still has a bug and that's it
They must always try to see and watch the transaction in the exchange site to able to find the security breached related to the WD issue.
The question every crypto enthusiasts should be thinking now is that if hackers can still penetrate almighty binance with all their claims of having the best cybersecurity measures, is any other centralized exchange safe?
Just because an exchange site was said to be almighty doesn't make it truly almighty or actually be the exchange with the best cybersecurity measures as claimed. is any other centralized exchange safe?
Of there are still safe centralized exchange (coin base,kraken) which haven't experience any hacking ever since they start. Kraken ever offers hunt contest to anyone who can find the cryptopia missed fund a couple of weeks back.What if the binance team didn't have SAFU funds to cater for situations what would have been the fate of affected traders on the binance platform?.
Justin Sun have stand for the help of Binance despite the SAFU fund with or without the SAFU funds Justin assistant is enough.
After hacking the Binance exchange, we can no longer be sure that any centralized exchange can be secure. However, Binance quickly solved this problem and the news of the hacking did not have a negative impact on the market.
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You are too late to realize year of hacks. Hacking issue has begun since 2018 when several exchanges reported that their funds were stolen. I wish what just happened to Binance is the last of this issue. This year should be the time for Bitcoin to gain its positive trends and not about hacks anymore.
You were too late either for the exchange site hacking issue begun in the year 2013 with cex and the Binance will definitely not be the last issue if exchange site don't upgrade there cyber security. However, the only exchange which I have never hear any hack issue about it is coin base.Jump to: