Keeping your funds on the exchange is always a risk. But sometimes this is a compulsory measure, because otherwise we may lose an opportunity to buy or sell at the right time.
In general, I am very surprised why large insurance companies have not yet developed sufficiently transparent and simple service packages for users of cryptocurrency exchanges.
Surely everyone would be much calmer if we could officially insure own deposit, which is on the exchange. This would solve a huge number of problems at once.
Topic: Let us discuss on hacked exchanges (Read 794 times)
You could put the ETH hack the resulted in the ETH-ETC separation as a hack as those coins were more or less centralized to the DAO exchange. Also BTCe was seized by government agencies and those coins were not returned to their owners I believe, so I would call that a government sponsored hack 
Then there was good old Trendon Shavers Bitcoin Savings and Trust ponzi - not an exchange per say but it was most certainly centralized.
Then there was good old Trendon Shavers Bitcoin Savings and Trust ponzi - not an exchange per say but it was most certainly centralized.
I have a question, can hacked bitcoin be frozen and the wallet marked as hacking ?
On the protocol level, it is not possible afaik. But some services (usually centralized/third-party services) can develop such tools. Exchanges will then use this database and block the account related to that address when they detect a deposit coming from them. It is not new, most exchanges already do this. 
Hackers are always targeting big exchanges. Reason why it's risky to leave keep funds on exchanges. Even email and password getting exposed is bad just like the coinmama exchange hack that happened. Do not use same password for your email and exchange account. Always use different password. Enable extra layers of security on your email and keep your exchange secured too.
Of course we always have to keep the exchange account secure. But if the exchange is hacked then I think the hacker will drain the asset there without having to hack our account. What good is it if we can properly maintain and practice account security if the security system on the exchange can be breached by hacker.In my opinion, beside being user, the exchange must also improve a good security system so that trader are always safe in carrying out trading activities there.
I have a question, can hacked bitcoin be frozen and the wallet marked as hacking ?
Hackers are always targeting big exchanges. Reason why it's risky to leave keep funds on exchanges. Even email and password getting exposed is bad just like the coinmama exchange hack that happened. Do not use same password for your email and exchange account. Always use different password. Enable extra layers of security on your email and keep your exchange secured too.
2020
February – Altsbit – 6,929 BTC, 23,210 ETH, 3,924,082 ARRR, 414,154 VRSC & 1,066 KMD
There are two more exchange hacked in 2020.February – Altsbit – 6,929 BTC, 23,210 ETH, 3,924,082 ARRR, 414,154 VRSC & 1,066 KMD
1. KuCoin exchange.
2. Eterbase exchange. Here is the official news from Eterbase https://t.me/eterbasenews/639
You can add this to the OP.
Also i found a similar topic in Alternate cryptocurrencies section.
You can check this topic [Updated] List of cryptocurrency exchange hacks by CryptoYar.
They are almost have the same list so I don't think we need another thread for this one , unless the link you given is not updated which I think is not.
1. Isn't this some insider job?
Other hacking incident is inside job or the owner run it and then told to users that they are hacked which is not. Other is real hacking that's why exchange always taking a move how to have it back or by tracing the address of hackers.
During most hack, cryptocurrencies were stolen while few stole users login details.
If the users' login details were used to stole coins then it's not the platform that has been hacked it's just the user account (and his/her coins) and that makes a big difference. Hackers don't use users' accounts to then hack the platform's system.
If the users' login details were used to stole coins then it's not the platform that has been hacked it's just the user account (and his/her coins) and that makes a big difference. Hackers don't use users' accounts to then hack the platform's system.
Good point. Because, having hacked an exchange, of what use will it be going through tons of individual wallets instead of just transferring the available individual coin balance on the exchange. It would be less work and less time consuming but then, these hackers are really a pain in the a** .
There are many exchanges that has been hacked in the past
It happens every six month period, we're used to it...
It happens every six month period, we're used to it...
Having the periodicity in mind, two questions comes to my mind.
1. Isn't this some insider job?
2. Could it really be that these hackers are distinct individuals or within the corporation if any that is supposed to ensure the security of exchanges, should it be that exchanges are registered?
3. Would you still conduct business or stock some amount of coin on an exchange with a previously hacked history despite the modifications done on the exchange?
2020
February – Altsbit – 6,929 BTC, 23,210 ETH, 3,924,082 ARRR, 414,154 VRSC & 1,066 KMD
There are two more exchange hacked in 2020.February – Altsbit – 6,929 BTC, 23,210 ETH, 3,924,082 ARRR, 414,154 VRSC & 1,066 KMD
1. KuCoin exchange.
2. Eterbase exchange. Here is the official news from Eterbase https://t.me/eterbasenews/639
You can add this to the OP.
Also i found a similar topic in Alternate cryptocurrencies section.
You can check this topic [Updated] List of cryptocurrency exchange hacks by CryptoYar.
legendary
Activity: 2478
Merit: 4341
eXch.cx - Automatic crypto Swap Exchange.
Gatehub. I registered an account in my name on September 28, 2017.
Sorry for your lost seems they're on the list of hacked account and I doubt they are still functional. I just wonder why we patronize anyhow exchanges, I have never heard of this exchanges until now. Currently the decentralized swap-liked exchange are those picking the interest of the community and many are existing scam with Investors funds and also getting expioted for bug. Funny as new ones are popping up daily and still getting volumes even without proper audit haven't been done.
OP seems you missed the Kucoin hack that the hacker went away with about $150million although there're reports of the hacker stealing more than the reported stolen funds.
edit: Oops, just noticed you haven't updated this thread in a long time. Hope you don't mind keeping us updated.
Hacking exchanges are almost normal these days
and yes this might be an inside job, but we can't deny how good these hackers
they can scan the web and look for vulnerabilities, they can send file or email
to someone with an attachment or virus that can take down a firewall, and then
pretend to be someone in the network, but the most interesting thing to me is
of all the hacking from the years in the past why are they not improving security
measures, making daily or weekly maintenance, they may lessen the probability
of being hack.
and yes this might be an inside job, but we can't deny how good these hackers
they can scan the web and look for vulnerabilities, they can send file or email
to someone with an attachment or virus that can take down a firewall, and then
pretend to be someone in the network, but the most interesting thing to me is
of all the hacking from the years in the past why are they not improving security
measures, making daily or weekly maintenance, they may lessen the probability
of being hack.
legendary
Activity: 1680
Merit: 6524
Fully-fledged Merit Cycler|Spambuster'23|Pie Baker
2017
December – NiceHash – 4,736 BTC
December – NiceHash – 4,736 BTC
This entry can be deleted, as NiceHash is not an exchange, but a market for hash power. If you list other entities besides exchanges, you can also add hacked wallets. For example Parity Wallet lost in November 2017 210M USD from users' funds, 180M being rescued and returned by some white hat hackers.
Besides, you can add this to your list:
- 2014 July – Cryptsy – 13,000 BTC & 300,000 LTC
- 2018 February – Coinbin – Unknown amount of stolen money.
The number of scams is increasing due to the increase in the price of Bitcoin They are using various strategies to scam That is why we have to do a good analysis before exchanging. KYC's sites are hacked more when exchanging. But binance is much better You don't have to kyc here No hacker will be able to hack easily if you have to keep the keys well before exchanging them on other sites except trusted sites The number of scams this year is higher than in other years.
only have of the year, crypto fraudsters score $1.3 billion in illicit funds in 2020 alone
If the criminals don’t let up, 2020 is set to be the second-highest year for crypto-crime on record
This fraudsters are using this pandemic as an avenue of defrauding people of ventilators
If the criminals don’t let up, 2020 is set to be the second-highest year for crypto-crime on record
This fraudsters are using this pandemic as an avenue of defrauding people of ventilators
This is what happens when the creators of some exchanges are the same users asking on a forum how much it costs to have the cheapest one set up. It's a shame that so many non-popular exchanges out there never care about even the most essential security advices.
I do not think this is the case, although some exchanges could have been hacked due to low cost set up but if you take a look at the hacked exchanges, binance, upbit, polonix, shapeshift, bitfinex and many other popular and strong exchanges that are even highly rated have been hacked before. So, some were set up with high cost but still vulnerable to hackers. Normally these exchanges are online, and nothing about them is stored offline, including the coins and the kyc, are all stored online, that is why they are vulnerable to hackers. And it is advisable to just trade on them and move back your coin to offline wallet securely irrespective of the exchange you are using.
This is what happens when the creators of some exchanges are the same users asking on a forum how much it costs to have the cheapest one set up. It's a shame that so many non-popular exchanges out there never care about even the most essential security advices.
There are backdoors out there because too many exchanges are focusing on adding as many shitcoins as possible to take every little penny of profit they can instead of leaving the new coins for later while creating a strong security layer for both their own safety so they can't be liable for such events and the customers' as their funds would be stored safely.
Like damn it, at least spend a few grand to protect the exchange wallet if not the website overall.
There are backdoors out there because too many exchanges are focusing on adding as many shitcoins as possible to take every little penny of profit they can instead of leaving the new coins for later while creating a strong security layer for both their own safety so they can't be liable for such events and the customers' as their funds would be stored safely.
Like damn it, at least spend a few grand to protect the exchange wallet if not the website overall.
I only heard about hacking on the Binance Exchange. I think scamers will always target large amounts of assets, especially on exchanges. therefore use the exchange as needed and leave no coins in the exchange.
There are many exchanges that have been hacked before, starting from 2011, if you check it well the above article very well, the exchanges that were hacked increased in number and their were more hacked exchanges in 2018/2019. But this year as been different because only one exchange which is Altsbit has been hacked. And not only binance that has been hacked before, exchanges are for trading while wallets should be a place to store your cryptocurrencies.
The problem is when you trade you have to leave some coins on the exchange for sell orders. So it is not practical to constantly withdraw coins from the exchange when you are not trading. It is advisable not to use an exchange as a wallet or to store large amounts of coins at any point of time in these exchanges.
Also Exchanges are the honeypot for hackers and they are pulled to it like flies are drawn to sh1t. Hackers are always looking for the big score and the brag rights when they were able to hack a large exchange.
Also Exchanges are the honeypot for hackers and they are pulled to it like flies are drawn to sh1t. Hackers are always looking for the big score and the brag rights when they were able to hack a large exchange.
There are many exchanges that has been hacked in the past, even a new exchange called Altsbit has been hacked this year and many cryptocurrencies were stolen. During most hack, cryptocurrencies were stolen while few stole users login details. This makes exchanges even more vulnerable to hackers as they are now the primary aims of hackers. Even from the list, I was so surprised to see some of the giant exchanges to be there.
When I read about this hack on https://selfkey.org/list-of-cryptocurrency-exchange-hacks/ it comes to my mind that any exchange can be hacked, because the ones that have been hacked are many in number. So, I come to the conclusion that it is better to store cryptocurrencies on hardware wallets, and that exchanges are only for trading, not for long holding of cryptocurrencies.
Code:
In 2020
This year, 2020, Altsbit was hacked, this is a new exchange and was hacked not long after it was created, this hack was in February
Coin stolen
6,929 BTC
23,210 ETH
3,924,082 ARRR
414,154 VRSC
1,066 KMD
2019 lists
November
Upbit
342,000 ETH
VinDAX
$500,000 Worth of Cryptocurrency
July
Bitpoint
Coin stolen
1,225 BTC
11,169 ETH
1,985 BCH
5,108 LTC
Over 28 million XRP
June
Bitrue
Coin stolen
9.3 Million XRP
2.5 Million ADA
June
GateHub
Coin stolen
23,200,000 XRP
May
Binance
Coin stolen
7,000 BTC
March
DragonEx
$7 Million Worth of Cryptocurrencies was stolen
March
Bithumb
Coin stolen
3 Million EOS
20 Million XRP
March
CoinBene
Coin stolen
Unknown
February
Coinmama
Coin stolen
No coin was stolen but 450,000 login details was leaked (User Emails & Passwords)
January
Cryptopia
Coin stolen
19,390 ETH was first stole while 1,675 ETH later in the same month
2018 lists
December – QuadrigaCX – 26,350 BTC
October
MapleChange
Coin stolen
913 BTC
September
Zaif
Coin stolen
5,966 BTC
June
Coinrail
Coin stolen
1,927 ETH
2.6 Billion NPXS
93 Million ATX
831 Million DENT Coins
Large amounts of 6 other tokens
June
Bithumb
Coin stolen
$31 Million Worth of XRP
May
Bitcoin Gold
$18 Million Worth of BTG was hacked which should be 51% attack on BTG blockchain.
Taylor
Coin stolen[/b]
2,578 ETH
April
CoinSecure – 438 BTC
February
Bitgrail
Coin stolen
17,000,000 NANO
January
Coincheck
Coin stolen
523,000,000 NEM
2017 lists
December – NiceHash – 4,736 BTC
December – Youbit – Unknown
July – Bithumb – $7 Million Worth of BTC & ETH
April – Yapizon – 3,800 BTC
216 lists
August – Bitfinex – 120,000 BTC
May – GateCoin – 250 BTC & 185,000 ETH
April – ShapeShift – $230,000 Worth of Cryptocurrency
2015 lists
February
BTER
7,170 BTC
KipCoin
3,000 BTC
January
Bitstamp – 19,000 BTC
LocalBitcoins – 17 BTC
796 – 1,000 BTC
2014 lists
[b]October[/b]
MintPal
3,700 BTC
July
MintPal
8 Million VRC
March
Mt.Gox – 850,000 BTC
March
Poloniex – 97 BTC
2013
November
BitCash
Coin stolen
484 BTC
May
Vicurex
Coin stolen
1,454 BTC
2012
September
BitFloor
Coin stolen
24,000 BTC
May
Bitcoinica
Coin stolen
18,457 BTC
March
Linode
Coin stolen
43,000 BTC from Bitcoinica
3,000 BTC from Slush
Linode Linode is a web hosting provider, and they hosted the cryptocurrency exchanges Bitcoinica and Slush. So, when Linode was hacked, coins were from Bitcoinica and Slush
2011 lists
June – Mt.Gox – 2,643 BTC
October
Bitcoin7
Coin stolen
11,000 BTC
When I read about this hack on https://selfkey.org/list-of-cryptocurrency-exchange-hacks/ it comes to my mind that any exchange can be hacked, because the ones that have been hacked are many in number. So, I come to the conclusion that it is better to store cryptocurrencies on hardware wallets, and that exchanges are only for trading, not for long holding of cryptocurrencies.
Well, it's not recommended to leave your investment in a exchange for the long term since I've seen a lot of exchanger closing because of the movement of the price market.
For exchanges having a lot of funds in their wallet at least, they should make sure they getting secured for their own and their users. For sure it would be easy hiring some people to do this since they might earn a big profit in their exchange.
Exchange hacks will keep happening, dont leave your coin on any exchange, once you make a trade withdraw your coins, both centralized or decentralized exchanges can get hacked by smart hackers nowadays, dex aren't safe like many thoughts, the safest place for your coins and funds is your wallet that you own the private key, find way to keep your keys safe and your coins won't leave your wallet ever
When I read about this hack on https://selfkey.org/list-of-cryptocurrency-exchange-hacks/ it comes to my mind that any exchange can be hacked, because the ones that have been hacked are many in number. So, I come to the conclusion that it is better to store cryptocurrencies on hardware wallets, and that exchanges are only for trading, not for long holding of cryptocurrencies.
Hardware wallet is just one option, and newbies can still make mistakes with it, like buying a wallet with pre-generated seed. The key difference here is that hardware wallet allows user and only user control their keys, while exchanges are custodians. You can also use a software wallet to control your own keys, like a desktop or a mobile wallet, and you can even make your own cold storage by having a dedicated non-connected device for running wallet software.
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