Topic: Exchange and Hacks - page 7. (Read 1042 times)
I will like to applaud the binance team nevertheless for there openness. Unlike the other exchange which got hacked lately, binance has shown a level of maturity and transparency by revealing complete details regarding the hack, unlike other exchange. It shows they know what they are doing and have the best interest of traders in their heart.
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.
Although am not the biggest fan of the binance exchange I truly sympathize with the team at this moment.. Most people have questioned the operation of decentralised exchange in recent times,. The absence of liquidity and the difficulty level it proposes to users.. I expect the binance team to learn from the hack and develop a world class decentralized exchange which will be impressive in transaction performance and also easy to use.. I think the binance DEX will boast of a good trade volume due to the reputation of the Binance project.. 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.
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.
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.
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