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Topic: If an exchange gets hacked - page 4. (Read 2377 times)

newbie
Activity: 48
Merit: 0
August 16, 2018, 02:06:50 AM
Well when ever an exchange is hacked it causes a really problem and a very big lose so I think exchanges should work very hard to see that they protect themselves from hackers
full member
Activity: 504
Merit: 102
August 09, 2018, 04:22:21 PM
The future for exchange will be systems that can better protect the safety of traders. I hope that traders will not have to pass on their secret keys.


No matter how secured the exchange site is, there is always a possibility that it can be hacked since this are online transaction and hackers especially those experts in digital technology. They will always find ways to earn easy money.
full member
Activity: 574
Merit: 100
August 09, 2018, 04:01:27 PM
The future for exchange will be systems that can better protect the safety of traders. I hope that traders will not have to pass on their secret keys.
newbie
Activity: 154
Merit: 0
August 09, 2018, 04:01:09 PM
I was just wondering about something. From time to time we see exchanges get hacked, with a big loss of Bitcoins for the customers as a result. However, I was wondering if the other coins and tokens you are invested in disappears as well? Let's say Ripple, Zcash, Monero etc.

I think hackers will be targeting the top rank coins since it could be easily be traded due to the number of exchange. This is why they will specifically choose bitcoin or ethereum as the coin they will be hacking.
member
Activity: 350
Merit: 15
August 09, 2018, 03:57:35 PM
Crypto-exchange is an insurmountable goal for hackers, and often traders are not given any guarantees or means to attract the owners of exchanges to liability.
newbie
Activity: 123
Merit: 0
August 09, 2018, 03:53:20 PM
Everything can happen that is why i prefer to keep money only on my wallets. Because if you have full control, then it is much more reliable.
newbie
Activity: 112
Merit: 0
August 09, 2018, 03:51:08 PM
#99
it becomes so sad to see that an exchange site has been hacked and you will lose a whole lot of your coins on that particular exchange site. I was very lucky enough to sell my coins worth $1000 on one exchange site and two days after, the site was hacked. Not always safe to keep monies at exchange sites to me.
newbie
Activity: 198
Merit: 0
August 09, 2018, 03:43:23 PM
#98
Do not use an exchange to store your coins. If the exchange gets hacked, you will use your funds because you don't have Private keys to your wallets in the exchange.
full member
Activity: 798
Merit: 100
Reward: 10M Shen (Approx. 5000 BNB) Bounty
August 09, 2018, 01:19:08 PM
#98
based on the experience I experienced when I saw that the hacked exchange generally lost the top 10 coins. because the logic of hackers can easily sell on other exchanges, and those that are very vulnerable to hacking are usually BTC and ETH.
hero member
Activity: 1078
Merit: 537
August 09, 2018, 03:26:44 PM
#97
I was just wondering about something. From time to time we see exchanges get hacked, with a big loss of Bitcoins for the customers as a result. However, I was wondering if the other coins and tokens you are invested in disappears as well? Let's say Ripple, Zcash, Monero etc.

i couldnt get your point. if an exchange gets hacked and if you have some altcoins or bitcoin in that exchange that is it they all disappears you loose all your belongings there. it doesnt matter if it is ripple or bitcoin.
newbie
Activity: 130
Merit: 0
August 09, 2018, 12:56:40 PM
#96
Sometimes, when exchanges get hacked, they compensate affected persons with their token (if they have) and if they don't have they may still compensate with another coin while sometimes some might file for bankruptcy. The reason why its always advisable to keep tokens/coins in wallets except you are trading at the moment.
newbie
Activity: 238
Merit: 0
August 09, 2018, 12:54:36 PM
#95
There is no one that can not get hacked, one have to be very very careful as far as hacker is concern. Even government can be The most secure Facebook for hacked not to talk of exchange. But when an exchange got hacked they need to make sure they still av a way to secure their customer else they will loose all.
newbie
Activity: 88
Merit: 0
August 09, 2018, 12:53:04 PM
#94
Just usually the loss of the exchange count in bitcoin, that is all lost altcoins to bitcoins transferred.
full member
Activity: 378
Merit: 100
The Premier Digital Asset Management Ecosystem
August 09, 2018, 12:51:48 PM
#93
My opinion is that it is not safe to store your coins on stock exchanges. You expose yourself to greater risks. In case of hacking, at least your funds will be blocked for a certain period of time, before the exchange is restored, and at worst you will simply lose everything.


The last time I was afraid for the loss of my funds was when the BANCOR exchange was hacked. I just did not manage to get them out. Thank God everything worked out, and I did not lose my coins. But this case made it clear how it is not safe.
full member
Activity: 378
Merit: 100
The Premier Digital Asset Management Ecosystem
August 09, 2018, 12:49:26 PM
#92
My opinion is that it is not safe to store your coins on stock exchanges. You expose yourself to greater risks. In case of hacking, at least your funds will be blocked for a certain period of time, before the exchange is restored, and at worst you will simply lose everything.
sr. member
Activity: 868
Merit: 252
August 09, 2018, 12:45:54 PM
#91
Exchanges are not for holding, it's only a platform for trading. So, never hold a huge amount of coins there, instead transfer a small amount of coins that you may need to trade then immediately withdraw to your local wallet. This way, you can stay safe.
it should be like that, but there are also those who keep their coins on the exchange, because they work as daily traders, it would be troublesome if they had to transfer coins to their personal wallets at any time.
member
Activity: 244
Merit: 10
Official Street Team member
August 09, 2018, 12:37:37 PM
#90
Depends on T&C of that specific exchanges.
I don't store my coin in any exchange. I prefer to have a wallet for each of my holding.
member
Activity: 742
Merit: 12
August 09, 2018, 12:37:02 PM
#89
Exchanges are not for holding, it's only a platform for trading. So, never hold a huge amount of coins there, instead transfer a small amount of coins that you may need to trade then immediately withdraw to your local wallet. This way, you can stay safe.
full member
Activity: 560
Merit: 100
Change Your Worlds Build a New Era!
August 09, 2018, 12:32:36 PM
#88
I exchange nothing ever stored twice already faced with fraud and hacking. on hitbtc and fatbtc accounts were hacked
copper member
Activity: 338
Merit: 250
August 09, 2018, 12:30:25 PM
#87
Security is the first priority in the Crypto world. As a normal investor, we don't know how all the things work in very well manner related to security. Don't know whether the people really smart who break the security or poor the exchange who can't make good security features. That's why always for me Hardware wallet or the Desktop wallet good choice. Try to avoid the store coins in the exchange. Although put all the investment in one exchange sometime really bad idea.
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