Topic: Hackers on the rampage again, 59M $ Stolen - page 6. (Read 918 times)
this is very bad news for the crypto world, I think the exchange must take immediate action and steps for the security of its users, because a case like this has happened several times, hopefully this will be the last and not happen again in the future.
Hackers are one of the most negative influences to stop the growing of Bitcoin as a global currency. I dont know why they think that they can run away with something like that when we can clearly know where they are transferring the tokens and other details.
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
OMG! How is it possible?
In any case 59.7M $ is very huge amount.
I think they will compensate losses to customers.
I think the anonymity of bitcoin is prome to hackers.
And mostly, I will employ all exchangers security tech to please tightening up there security. This hacking is happening on the detriment of the users and not on the detriment of the exchangers CEO
And mostly, I will employ all exchangers security tech to please tightening up there security. This hacking is happening on the detriment of the users and not on the detriment of the exchangers CEO
On these days, hackers want to stole our crypto in exchanger. Its much safe if we store our coin or token in our own wallet. But i am believe exchanger will increase their security.
Hackers now are trying to rule the forum as if they can manage to hack all accounts that has full of credits in there. We should be aware everytime, maybe somebody who is knowledgeable makes a forum thread on how to deal with hackers, how to be aware, or how to avoid them. That idea seems to help so many people here.
Yeah this is bad, at this critical times where btc is trap in bear market then comes this bad news, it certainly going to make the price become worse, and at this state we actually need fresh funds but this news will make the negative impression for the investors, something need to be done to fix the exchanges security, there has been too many successful hacking from exchanges
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
Wea are all aware how hackers became unstoppable these days. As the security for bitcoin is being in a mill of strengthening, same goes by the people who keep on looking forward in stealling bitcoin. These people make other people risk takers.
This is really not good for the community and the whole community and could drop the price of the coins once again, I don't know if there is an inside job here but the exchange security is still a big concern, this is one of the reason why you should not leave a big portion of your coins to any exchange, the risk is to high like what happen here.
hacking always be a major problem in decreasing bitcoin and market conditions are getting worse.
this year many exchanges hacked by hacker, market manipulation, and fake trading volume values dominate exchanges that have bad services.
this year many exchanges hacked by hacker, market manipulation, and fake trading volume values dominate exchanges that have bad services.
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.
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
Bitcoin anonymity is for hackers, scammers and criminals, terrorists also. They will run away after the crime.
Not just bitcoin but the whole market is prone for this thing, and this is why government is regulating this market. This is a bad news for a cryptomarket again, and maybe can affect the market later on but hopefully not since we are just starting to pump. 
I don't think issues relating to hacking of exchanges will reduce in the nearest future. I personally don't think it's right leaving crypto on exchanges for long periods
That's exactly the approach everyone should take. I always withdraw coins right after buying, and I only hold USD on exchanges for short periods. If I'm cashing out for a while, that money sits in my bank account.
As cryptocurrency gets bigger and bigger, the targets on the backs of exchanges grow. Just as exchanges aren't scaling their infrastructure to customer demand, they aren't devoting enough resources to security. The Coincheck hack this year really hammers that point home.
Why is this perceived as a problem? Money is also being stolen from banks!
Technically, it reduces available supply because the stolen coins are difficult to sell on exchanges or spend through payment processors. That could actually drive the price up.
exchanges should use latest technology for saving from hackers. legitimacy of bitcoin will also decrease the percentage of crime of stolen btc as government would implement punishment on stolen of btc.
Why is this perceived as a problem? Money is also being stolen from banks!
I don't think issues relating to hacking of exchanges will reduce in the nearest future. I personally don't think it's right leaving crypto on exchanges for long periods
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
The way security breach happens in crypto space makes me wonder if this is the only economy that money is being traded. I have not heard that the forex market that can boast of huge amount of activities enough to swallow the entire crypto capitalization gets hacked. Although, the effect might not be felt on the price of bitcoin in general but it will surely send a bad signal to those reading and those willing to come in that the market facilitators cannot put something as simple as security in place to forestall things like this despite the amount of security that blockchain itself presents.
Just like I usually maintain, hackers will not stop making efforts it's the responsible of exchange owners to ensure that the security apparatus is kept safe for the benefit of their investors and until they are being held responsible for such deficiencies they won't take their duty serious.
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.
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.
Yeah, that was a nice slide and then quick rebound as I happily bought back what I had sold just a few hours before. Regarding the news, there is nothing out of the ordinary and shouldn't be. Bitcoin will remain what it is no matter how regulated its environment is. It can be stolen and having been stolen means irrecoverable and irrevocable loss in the majority of cases. In case of fiat you can always trace the footprints and fingerprints left by the thief, with bitcoin you have only the blockchain and coins from which you no longer have the keys.
To solve this issue we need fully decentralized exchanges designed and implemented on the protocol level. But that requires strong coordination and cooperations between many coins. Given that there is no agreement even inside bitcoin camp as otherwise there wouldn't have been bitcoin cash and similar projects, such coordinated effort doesn't look very likely as everyone hogs the covers.
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.
yes, most people take exchange as personal wallet were they can store coin. Like i always say it 100% risk to leave fund on any exchange because u don't the full control of it. many exchange owner are weak in the part of security. just pray the customers get compensate too because is every frustrating when you get hacked. 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.
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