Topic: Hackers on the rampage again, 59M $ Stolen - page 5. (Read 918 times)
Cryptocurrency exchange hacked increased recently and it's randomly happened in japan. I'm scared to holding crypto in exchange because when i affected in hacking. 59$ million is a big deal for any exchange site. Zaif was a big exchange in japan and why it's security is not stronger like as Binance and Huobi.
The problem with all these hacks is that it puts people off, especially traditional investors and newbies into investing in the crypto markets. New people whenever they hear of hacks get very scared and this needs to be resolved and exchanges must be held accountable for what is going on in their back yards. I also believe that many of these exchange hacks are done from insiders to be honest, or someone inside who knows someone form outside. It's too tempting for an employee earning a grand a month to want to steal millions and do ti through some hacker friend. Most young folks want fast and easy money nowadays without having worked for it.
You can now have multisignature addresses, which means you need a few persons to collude in order to pull off a successful inside job. Multisignature addresses massively lower the possibility for this attack vector as it requires more than one key to authorize a Bitcoin transaction but it is a not a panacea, either. Two years ago over 100k bitcoins had been stolen from Bitfinex despite the fact that they even used a third party to check the transactions. Ultimately, it is bitcoin's nature, the irrevocability of its transactions, which is its major advantage and major disadvantage at the same time, depending on which side of the fence you are on.
That is why I have been saying that leaving funds in cryptocurrency exchange is very risky.. because sometimes security is one of the major problem, so we have to try our best, moreover this can't just affect the Market, for the past three to four months now the Market has been in bearish.
I don't know whether the news is true or not. what is clear when the price of bitcoin drops, there is always bad news coming about bitcoin. but in the end bitcoin will recover as before. My advice is not to sell your bitcoin now, because they want it.
You can't stop hackers, but you can protest yourself to become a victim.
That especially refers to exchanges who have the duty to implement maximum protection and take care of security features. Everyone is vulnerable but you have to do your best for prevention.
Still I don't think this will affect the price.
That especially refers to exchanges who have the duty to implement maximum protection and take care of security features. Everyone is vulnerable but you have to do your best for prevention.
Still I don't think this will affect the price.
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.
I don't think any exchange will assure us of zero tolerance towards security breaches. It is the sole risk of the investor to deposit an amount in the exchange. As you said, it is the best if we don't deposit a huge amount of money in any exchange. Even if we want to then it would be better if we just deposit it and make the trade and then move it back to a secure wallet where we own the private key of the wallet. 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.
This exchange hacking is endless I thought it will never happen again because this should be the first concern of these exchanges, people now will be very choosy trading and storing their coins/tokens to these exchanges, could be another inside job, japanese people are known to be good when it comes to security.
The cryptocurrency is anonymous. The hacker steals the cryptocurrency of the exchange and can easily become a legal currency!
There are loopholes in the regulation of cryptocurrencies, so hackers like to attack the exchange to steal a lot of cryptocurrencies!
There are loopholes in the regulation of cryptocurrencies, so hackers like to attack the exchange to steal a lot of cryptocurrencies!
Every new day somewhere gets hacked and it will not going to stop it seems that way. I don't understand the hackers. How would they can live with stealing other people moneys? Do they have heart? They are some kind animals for me because i would never forget if i steal something from someone, and i felt very bad forever..
Hello,
It is really huge amount and I'm again surprised by this kind of amount that hackers could steal from exchanges. If this kind of exchange have so much money, just a part of course, how could they don't spend the required one to securize their exchange. It is not so easy to fight hackers because they always find new solutions but i really think that they don't enough take care of their security.
I reall yhope that the customer will be refund because it is not their fault.
It is really huge amount and I'm again surprised by this kind of amount that hackers could steal from exchanges. If this kind of exchange have so much money, just a part of course, how could they don't spend the required one to securize their exchange. It is not so easy to fight hackers because they always find new solutions but i really think that they don't enough take care of their security.
I reall yhope that the customer will be refund because it is not their fault.
Maybe this is the reason why every country must issue regulations for cryptocurrency.So that every event like this occurs.There is a guarantee that the public funds will be returned
Zaif was one of the first Japanese exchanges to be regulated. Japanese regulation costs the exchanges hundreds of thousands of dollars per year and is sounds pretty onerous. That doesn't appear to have stopped this.
There's no way any country would guarantee crypto funds. Why should they? What they should do is enforce competence.
This is bad news, now there are a lot of hackers who attack cryptocurrency wallets, whether it's personal wallets or exchange wallets. therefore, we must guard our wallets carefully. and don't get hacked. I hope this news will not have a significant impact on the changes in crypto prices.
Maybe this is the reason why every country must issue regulations for cryptocurrency.So that every event like this occurs.There is a guarantee that the public funds will be returned
There is no man system, even though he is a large company there are still hackers who want to try to break into their system. The bigger a company, the greater the security risk. And in this case, Zaif might miss a gap in their system that they did not realize.
if you have a large number of assets on the stock exchange and lost it, then this is your problem because at the moment the exchanges are very unreliable
There are many problems with exchanges that are very susceptible to hacker attacks, this is very detrimental to many people and certainly frightening for all users, it is very unsafe if you want to keep it for a long time in a very dangerous exchange, the most effective is to use a personal wallet and keep it keep rising, must be repaired as soon as possible so that it is safer in the crypto world, a problem that the government does not want to happen if after adopting the crypto as a whole.
hackers are the first problem in bitcoin this is the biggest problem and reducing our bitcoin. we should keep our bitcoin from rampant hackers over many accounts. This isn't just bad for the investors who lost money, but the crypto in general. Is has already received negative press from previous hacks and this is just making matters worse. It will scare newbies away at a time when we need new blood
New like this happens a lot and there's not much we can do about it. hacks happen, yes it is bad press but there not much we can do,execpt keep on supporting bitcoin and crypto in general.This won't impact much to the market price as it had plummet down to its ground but if it does, it going to be a good thing for those who are waiting for the price to drop again. Its been a constant reminded to everyone here in the forum not to put more coins in your exchange as there is no secure way as long as its accessible in the internet page. Hackers will find a way.
This isn't just bad for the investors who lost money, but the crypto in general. Is has already received negative press from previous hacks and this is just making matters worse. It will scare newbies away at a time when we need new blood
New like this happens a lot and there's not much we can do about it. hacks happen, yes it is bad press but there not much we can do,execpt keep on supporting bitcoin and crypto in general. 
this once again proves the failure of the protection of large wallets, not the bitcoin code itself
The problem with all these hacks is that it puts people off, especially traditional investors and newbies into investing in the crypto markets. New people whenever they hear of hacks get very scared and this needs to be resolved and exchanges must be held accountable for what is going on in their back yards. I also believe that many of these exchange hacks are done from insiders to be honest, or someone inside who knows someone form outside. It's too tempting for an employee earning a grand a month to want to steal millions and do ti through some hacker friend. Most young folks want fast and easy money nowadays without having worked for it.
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