Exchanges are like the biggest security hold in crypto its so bad that they centralize so much currency in one place its just asking for it.
we need better decentralized exchanges
Topic: Hackers on the rampage again, 59M $ Stolen - page 2. (Read 918 times)
i learned from mtgox even i never believed bitcoin was easy to hack, i always said it could be done only as a FUD or indeed there was an insider who stole it
Japanese Exchange Zaif was reported to have suffered some security breach that resulted in about 59.7 M$ being stolen from the exchange. the hackers carted away with Bitcoin (5966), bitcoin cash and some Monacoin. It is not clear yet when or if customers will be fully reimbursed for the losses.
Zaif is operated by Tech Bureau Inc.under a regulated environment by Financial Service Agency- Japans foremost regulatory agency.
It is not likely that the market will react much to the hack ( or maybe it has already as we saw bitcoin slide to 6100 range and back up to 6400$ within an hour or this was caused by the CBOE future closure).
This brings to bear once again the need to never leave some substantial amount of exchanges.
https://cointelegraph.com/news/japanese-cryptocurrency-exchange-hacked-59-million-in-losses-reported
https://jp.reuters.com/article/zaif-tech-bureau-inspection-idJPKCN1M001Y
Till date we all are aware with the status of bitcoin that there are millions of people around the world who are investing into bitcoin and the reason being that they feel that the investment in which they are investing is the safe place as bitcoin promises to provide safest and the most confidential transactions as it does not involve any third party seizure and provides user anonymity but this thing is misused by some hackers as they stole bitcoin as bitcoin transactions does not involve any third party seizure. Zaif is operated by Tech Bureau Inc.under a regulated environment by Financial Service Agency- Japans foremost regulatory agency.
It is not likely that the market will react much to the hack ( or maybe it has already as we saw bitcoin slide to 6100 range and back up to 6400$ within an hour or this was caused by the CBOE future closure).
This brings to bear once again the need to never leave some substantial amount of exchanges.
https://cointelegraph.com/news/japanese-cryptocurrency-exchange-hacked-59-million-in-losses-reported
https://jp.reuters.com/article/zaif-tech-bureau-inspection-idJPKCN1M001Y
Japanese Exchange Zaif was reported to have suffered some security breach that resulted in about 59.7 M$ being stolen from the exchange. the hackers carted away with Bitcoin (5966), bitcoin cash and some Monacoin. It is not clear yet when or if customers will be fully reimbursed for the losses.
Zaif is operated by Tech Bureau Inc.under a regulated environment by Financial Service Agency- Japans foremost regulatory agency.
It is not likely that the market will react much to the hack ( or maybe it has already as we saw bitcoin slide to 6100 range and back up to 6400$ within an hour or this was caused by the CBOE future closure).
This brings to bear once again the need to never leave some substantial amount of exchanges.
https://cointelegraph.com/news/japanese-cryptocurrency-exchange-hacked-59-million-in-losses-reported
https://jp.reuters.com/article/zaif-tech-bureau-inspection-idJPKCN1M001Y
Zaif is operated by Tech Bureau Inc.under a regulated environment by Financial Service Agency- Japans foremost regulatory agency.
It is not likely that the market will react much to the hack ( or maybe it has already as we saw bitcoin slide to 6100 range and back up to 6400$ within an hour or this was caused by the CBOE future closure).
This brings to bear once again the need to never leave some substantial amount of exchanges.
https://cointelegraph.com/news/japanese-cryptocurrency-exchange-hacked-59-million-in-losses-reported
https://jp.reuters.com/article/zaif-tech-bureau-inspection-idJPKCN1M001Y
I believe that this is the problem about having our own security decisions,ever since i enter trading i never store my precious coins in an exchangers instead i bring them back in my wallets after having some transactions because i know that exchangers are more vulnerable from hacking issues
And it keeps me think sometimes that is this really a case of hacking?Or inside attacks?Who knows how we trust this exchagers as they can just make an issue but the truth is they are the one who really hacked the sites?Well i might be wrong but maybe right also
wow, i think that's a huge amount and it can impact the market. Our market is having a lot of security holes and that's really a bad thing. We need the SEC and the government to participate in this market. We need to be protected and prevent unscrupulous people from stealing money from others. 
I think the operation of Chinese hackers is also a peril for electronic users in general and bitcoin in general
I dont understand why so hard storing funds on cold storage.
Exchange dont need pay everyday so much moneys to their customers
Exchange dont need pay everyday so much moneys to their customers
I think it's bad. In this case, Exchange needs to implement security measures for its members to avoid losing more. If this continues, the cryptographic market conditions will worsen.
I dont think this case will effect bitcoin market. This was exchange fault for very lack in security measurements. They should make a more tight security when it involve a high money. This is an example why we should not trust exchanges too much. im hope investors that losing their money wil get their money back.
I think it's bad. In this case, Exchange needs to implement security measures for its members to avoid losing more. If this continues, the cryptographic market conditions will worsen.
I just knew that the exchange was hacked, and this is the one reason I never save my crypto on exchanges.
I think $59M is very-very big amount, I hope every exchange increases security and use Two Factor Authentication (2FA).
And i hope nothing like this anymore
I think $59M is very-very big amount, I hope every exchange increases security and use Two Factor Authentication (2FA).
And i hope nothing like this anymore
I saw this going through my Reddit early news. I don't think this will have any negative impact on the market.
I have always wonder the security level of Cryptocurrency exchanges. Although am not a Cyber-security expert, but have once heard of something called "multiple signature" been required for withdrawal. Such fear of exchanges been hacked is a course for concern for someone wanting to invest big in the market. My take is that: for now, use well trusted exchanges that have zero tolerance for security breaches, and try not to leave too much fund in an exchange. I hope customers get compensated since it's a management lapses.
A hack of that size is not going to have any kind of effect in the markets, however it leaves a very bad impression to anyone that is looking to invest in cryptocurrencies for the first time and in many people like us that have been in the market for a very long time, in a way I understand that it is impossible to avoid being hacked because hackers have all the time of the world to try to find any kind of vulnerability in the system that exchanges use to protect the coins of their clients.I have always wonder the security level of Cryptocurrency exchanges. Although am not a Cyber-security expert, but have once heard of something called "multiple signature" been required for withdrawal. Such fear of exchanges been hacked is a course for concern for someone wanting to invest big in the market. My take is that: for now, use well trusted exchanges that have zero tolerance for security breaches, and try not to leave too much fund in an exchange. I hope customers get compensated since it's a management lapses.
But at the same time if the exchanges do not find a way to limit the damages caused by hackers it is likely that they are going to slowly lose the confidence of the people and if they do not have the confidence of the people then it's very likely that they will be eventually replaced by decentralized versions of themselves.
It's nice knowing we're fully and gradually moving past the zone of the market being affected by hack news. Exchange should improve on their security base or better still add another layer to their security measures. Measures like cold wallet storage that way hacks will be minimized.
Japanese Exchange Zaif was reported to have suffered some security breach that resulted in about 59.7 M$ being stolen from the exchange. the hackers carted away with Bitcoin (5966), bitcoin cash and some Monacoin. It is not clear yet when or if customers will be fully reimbursed for the losses.
Zaif is operated by Tech Bureau Inc.under a regulated environment by Financial Service Agency- Japans foremost regulatory agency.
It is not likely that the market will react much to the hack ( or maybe it has already as we saw bitcoin slide to 6100 range and back up to 6400$ within an hour or this was caused by the CBOE future closure).
This brings to bear once again the need to never leave some substantial amount of exchanges.
https://cointelegraph.com/news/japanese-cryptocurrency-exchange-hacked-59-million-in-losses-reported
https://jp.reuters.com/article/zaif-tech-bureau-inspection-idJPKCN1M001Y
Exchanges at a time when there are still many security breaches, we need to have security regulators to help traders get protected from hackers. The development of Crypto made the exchange become a piece of cake that many people pay attention to, and everyone wants to get this piece of cake.Zaif is operated by Tech Bureau Inc.under a regulated environment by Financial Service Agency- Japans foremost regulatory agency.
It is not likely that the market will react much to the hack ( or maybe it has already as we saw bitcoin slide to 6100 range and back up to 6400$ within an hour or this was caused by the CBOE future closure).
This brings to bear once again the need to never leave some substantial amount of exchanges.
https://cointelegraph.com/news/japanese-cryptocurrency-exchange-hacked-59-million-in-losses-reported
https://jp.reuters.com/article/zaif-tech-bureau-inspection-idJPKCN1M001Y
Such occurance has been happening over the years and it's shameful to still hear about it happening today. Exchanges should employ multiple level signature to eliminate such occurance and the question of refunding those affected should be up for debate, the exchange has to do just that.
Every crypto user is prone to attack by hackers. one just need to protect his wallets as much as possible.
I came across this news on my news feed some days ago but I never pay much attention to it, this is another sad news but hoping that the market will not react to this negatively for long. This why we are always advice not to leave huge deposits on exchange as they are most times the target of hacker's hope we all lean from this and the customers involved should be duly compensated with time.
Hacking cryptos is a very common thing. Luckily I have the only coin in the market that cannot be hacked. AML BitCoin rests on a privately regulated public blockchain that facilitates AML-KYC compliance and identifies criminals associated with illicit transactions while maintaining and strengthening the privacy protections for legitimate users.
I am already tired of these hacking stories. They are out to bring down cryptocurrency. I am equally surprised that these big exchanges are falling victim of hacking from time to time. Don't they update their security? They make good money from fees so I wonder why they can't fortify their security from time to time.
Japanese Exchange Zaif was reported to have suffered some security breach that resulted in about 59.7 M$ being stolen from the exchange. the hackers carted away with Bitcoin (5966), bitcoin cash and some Monacoin. It is not clear yet when or if customers will be fully reimbursed for the losses.
Zaif is operated by Tech Bureau Inc.under a regulated environment by Financial Service Agency- Japans foremost regulatory agency.
It is not likely that the market will react much to the hack ( or maybe it has already as we saw bitcoin slide to 6100 range and back up to 6400$ within an hour or this was caused by the CBOE future closure).
This brings to bear once again the need to never leave some substantial amount of exchanges.
https://cointelegraph.com/news/japanese-cryptocurrency-exchange-hacked-59-million-in-losses-reported
https://jp.reuters.com/article/zaif-tech-bureau-inspection-idJPKCN1M001Y
Zaif is operated by Tech Bureau Inc.under a regulated environment by Financial Service Agency- Japans foremost regulatory agency.
It is not likely that the market will react much to the hack ( or maybe it has already as we saw bitcoin slide to 6100 range and back up to 6400$ within an hour or this was caused by the CBOE future closure).
This brings to bear once again the need to never leave some substantial amount of exchanges.
https://cointelegraph.com/news/japanese-cryptocurrency-exchange-hacked-59-million-in-losses-reported
https://jp.reuters.com/article/zaif-tech-bureau-inspection-idJPKCN1M001Y
I did not know how they can easily get what they want because worker needed only to keep the pricate information that they have so that they will not be scam or hacked.
This will bring alot of negativity and also make investors have a feeling of their investment not having enough security this willscare them away and its bad for the crypto business i just pray that the perpetrators of this act can be apprehended
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