Topic: If an exchange gets hacked - page 9. (Read 2377 times)
Everything that is held in the exchange could be targeted and thus stolen.
everything can be hacked. Those rich (posh) boys who grabbed hard wallets are not protected as well. Everything that goes connected to internet at some point can be penetrated. People close to high technologies are always a step or two in front of us. So keep reasonable amount on exchange. (keep funds in different exchanges./wallets.
Just do not store money on stock exchanges, that's all. I bought it - I brought it to a local wallet, waited for the moment, put it on the stock exchange and sold it.
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.
If all of these assets in the exchange site, that gets hacked already drained by the hackers and that means if you are losing all of your amounts in there because exchange site doesn't have any ability to recover the user's fund. Because your privacy coin still stored in the same wallet and the name of privacy coin means nothing in that case.
The privacy coin means if someone is not able tracing your transaction.
Different exchanges have different policies towards losing customers' coins. Some will compensate and some will file for bankruptcy. Always think of an exchange as a platform to move a limited amount of funds for a short time to perform a specific purpose. Never use an exchange as a long term funds storage.
I want to recommend your PC as storage but it can be as vulnerable as a phone. You need to do some extensive research on how to protect your computer from snooping. If large companies are working to fix the latest Intel Meltdown vulnerability, how can you protect yourself. Still, keeping your funds with you is better than trusting an exchange to hold them for you. On that note, I have some low valued coins stored at some exchanges because I don't feel like installing their wallet.
I want to recommend your PC as storage but it can be as vulnerable as a phone. You need to do some extensive research on how to protect your computer from snooping. If large companies are working to fix the latest Intel Meltdown vulnerability, how can you protect yourself. Still, keeping your funds with you is better than trusting an exchange to hold them for you. On that note, I have some low valued coins stored at some exchanges because I don't feel like installing their wallet.
all digital currencies (not limited to bitcoin) stored on exchanges are susceptible to being lost in hacks on those exchanges
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.
Jump to: