Topic: How exchanges treat the stolen Money? - page 4. (Read 789 times)
First of all, you should add 2FA in any exchange for security reasons so that 2FA can protect your account but if your phone hacked than 2FA can't protect you, in some cases, mobile was hacked and 2FA also hacked. If your funds were stolen and transfer to another wallet than exchange will not responsible this stolen may be for your negligency.
If somebodies wallet hacked means their private key is compromised . That mean both are holding private keys . Here we have to remember proof of keys concept . Who is having the key of wallet he will be the owner . For small amount or individual wallet hack nothing can be done . Even big exchange hack only couldnt able to help out . So in crypto space we are responsible for our private keys . Exchange cant help it seems . Even peopel are selling wallet for fiat currency nothing can be proved once your private key compromised
Well it depends on huge amount of bitcoin/altcoin stolen they usually ignore it if the amount of stolen money or cryptocurrency unless if the original owner of that money warned the exchanges to block the wallet address to deposit in the site, and if the huge amount of money was stolen ie like what happened to bitfinex the exchanges will not let through this kind of transactions. Although hackers will sell it on underground instead of legal exchanges since they will comprimised their identity.
I am curious to know, how Exchanges treat the stolen money or hack money? Are they really aware of it? Just think, your fund has been hacked and transferred from your wallet to another wallet and then it's deposited to an exchange. If you claim to the exchange about the money, Are they not responsible for taking necessary action? What do you think?
Some exchangers blacklist deposits from wallet addresses that are indicated to have originated from hacking. This is a good step because it can isolate hacked tokens or coins so that hackers find it difficult to sell and in the end they give up to do it again.
I am curious to know, how Exchanges treat the stolen money or hack money? Are they really aware of it? Just think, your fund has been hacked and transferred from your wallet to another wallet and then it's deposited to an exchange. If you claim to the exchange about the money, Are they not responsible for taking necessary action? What do you think?
What i know is, maybe it will depends on the case. If personal or individual users who get stolen, the exchange will ask us for official report from law officer. And then they can reveal ID of the account owner. But if must wait the process, balance usually will already withdrawed to another wallet and we can't do anything. But if it is a big money that stolen like wallet of an exchange attacked by hackers, usually other exchanges will do something like freeze the account or wallet of users who received the money. 
I am curious to know, how Exchanges treat the stolen money or hack money? Are they really aware of it? Just think, your fund has been hacked and transferred from your wallet to another wallet and then it's deposited to an exchange. If you claim to the exchange about the money, Are they not responsible for taking necessary action? What do you think?
They will freeze it in the wallet until there is more discussion about that, i just know some exchange sites are halting the stolen funds and if the exchange site knows where is it coming from and then they will try to give it back. In some cases, exchange sites are not returning the stolen funds. Remember the owner must do a lot of verification to get back their money or sometimes they will create a report to the regulator about that. You have need to prove with a lot of documents and proof to get back your money.
This is a long process to do.
if there is authentic evidence that your funds were stolen and hacked by someone else and transferred to the Exchange, it might work. But it is very difficult to prove that, it's your own fault and even the Exchange will not interfere with the theft that occurs outside their platform. You must take care of your own wallet because it is your responsibility, if a loss occurs it will be difficult to restore it even impossible anymore.
I am curious to know, how Exchanges treat the stolen money or hack money? Are they really aware of it? Just think, your fund has been hacked and transferred from your wallet to another wallet and then it's deposited to an exchange. If you claim to the exchange about the money, Are they not responsible for taking necessary action? What do you think?
If you got hacked then it will be hard to get it back and even exchanges can't help you to get it back. They are responsible on securing your funds while on your wallet but if you fail to protect your wallet details on your side, then it will be hard for exchanges to help you and it will be hard to defend to them that hackers really got your money, any proof that you submitted is still subject for investigation. If you are not confident with your exchanges right now, then use the top exchange and still protect your money on your own. I am curious to know, how Exchanges treat the stolen money or hack money? Are they really aware of it? Just think, your fund has been hacked and transferred from your wallet to another wallet and then it's deposited to an exchange. If you claim to the exchange about the money, Are they not responsible for taking necessary action? What do you think?
It depends on the particular case. There was a time when Binance and a few more exchange froze the accounts of certain people because it was believed to be the accounts where hackers are sending their stolen Bitcoin. This applies especially when large amounts are involved and there is enough information reaching the heads of the exchanges that there could be a stolen Bitcoin deposited in their exchanges. But in terms of small amounts, I think it is more difficult for them to act on them, more so because of the lack of hard evidence.
I am curious to know, how Exchanges treat the stolen money or hack money? Are they really aware of it? Just think, your fund has been hacked and transferred from your wallet to another wallet and then it's deposited to an exchange. If you claim to the exchange about the money, Are they not responsible for taking necessary action? What do you think?
If your money is hacked and then deposited into an exchange of course the exchange will not be held responsible because it is not their fault but your own fault 
For sure stolen funds normally goes in and out of Binance however no exchanges can detect whether those funds are stolen, but they can only flag stolen funds that are huge with questionable source but for smaller funds consider no chance.
I am curious to know, how Exchanges treat the stolen money or hack money? Are they really aware of it? Just think, your fund has been hacked and transferred from your wallet to another wallet and then it's deposited to an exchange. If you claim to the exchange about the money, Are they not responsible for taking necessary action? What do you think?
Of course the other exchange is not responsible for it instead the exchange where your money has been stolen or hacked is the one responsible for it. The same on what happened to Binance as they lost a huge amount due to leak of their security in short they were being hacked so what they did is they replace all the money that were being stolen by the hacker. After that, I am not really sure on what is the move of Binance but what I am sure it they were not able to get back their hacked money. That is how the crypto society work.
I am curious to know, how Exchanges treat the stolen money or hack money? Are they really aware of it? Just think, your fund has been hacked and transferred from your wallet to another wallet and then it's deposited to an exchange. If you claim to the exchange about the money, Are they not responsible for taking necessary action? What do you think?
What proof do you have in terms of actually proving that the funds involved are the exact funds that you got hacked for?
It's all 'he she, she said'. Unless you have rock solid proof I think it's unreasonable to assume that exchanges will freeze someone's account in particular just because someone complained that he/she may be the hacker/scammer behind a fraud.
Of course, you could try, but I doubt the outcome will be positive.
I am curious to know, how Exchanges treat the stolen money or hack money? Are they really aware of it? Just think, your fund has been hacked and transferred from your wallet to another wallet and then it's deposited to an exchange. If you claim to the exchange about the money, Are they not responsible for taking necessary action? What do you think?
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