Why did they looking for whitehat hackers? They don't have any white hat hackers before?
It's pretty bad they already hacked in the past and now they still haven't hired any expert to protect their exchange?
What I see here is another inside job they already get enough funds to hold for the next block halving and make a profit and they are going to wait again until the price of BTC massively drops below $20k.
I had funds on Poloniex before they never sent my coins back to my wallet accessing my account again with zero balance. I never trust them because I know they are going to do this again and now it happens again just like what other exchanges or other businesses do they come back and run again(hit and run).
Topic: Poloniex was hacked (Security Breach Discussion) - page 2. (Read 338 times)
Well, guys, I guess a lot of you already know this. Poloniex, aka Justin Sun's own Exchange, suffered a hack of 60M+ USD, and they are offering a 5% Bounty (if there are any white hat hackers here or do you know an interested one, here is the official announcement https://x.com/Poloniex/status/1722956238160536049?s=20).
On the other hand, TRX and USDD do not seem to suffer any backlash from this news.
Topic Security Breach and Protection Layers. Do you think that Exchanges and DeFI need more development and investments here or is this just something we have to lay down our heads and deal with?
On the other hand, TRX and USDD do not seem to suffer any backlash from this news.
Topic Security Breach and Protection Layers. Do you think that Exchanges and DeFI need more development and investments here or is this just something we have to lay down our heads and deal with?
It was HTX last time and now another exchange has now been hit. I have always ask this question; tho, not on this platform, that " what are some exchanges doing right (Bitget, Kraken, MEXC and a few others) to stay free of these security exploit incidence? can't other exchanges collaborate with some of these exchanges to strengthen there security?
Despite the fact that I also feel collaboration and more investment in security could be the way forward, white hat bonus payment should also be discouraged cos it's one of the reasons hacking have become a tradition in this crypto space.
It appears that some cryptocurrency exchanges are viewing each other as competitors rather than business partners. This could make it difficult for them to work together to protect each other's interests in terms of security. For example, Bitget you mentioned above once partnered with COBO Superloop, an off-exchange digital asset custody provider, to ensure that their users' funds are safely stored offline. This could be an effective security measure that other exchanges could adopt, but it is unclear how they choose to operate differently.
Well, guys, I guess a lot of you already know this. Poloniex, aka Justin Sun's own Exchange, suffered a hack of 60M+ USD, and they are offering a 5% Bounty (if there are any white hat hackers here or do you know an interested one, here is the official announcement https://x.com/Poloniex/status/1722956238160536049?s=20).
On the other hand, TRX and USDD do not seem to suffer any backlash from this news.
Topic Security Breach and Protection Layers. Do you think that Exchanges and DeFI need more development and investments here or is this just something we have to lay down our heads and deal with?
On the other hand, TRX and USDD do not seem to suffer any backlash from this news.
Topic Security Breach and Protection Layers. Do you think that Exchanges and DeFI need more development and investments here or is this just something we have to lay down our heads and deal with?
It's a new hack right? And they hacked in the past too but I don't think they ever recovered anything from the hackers and the same goes to this as well. I want to clarify that they are offering 5% of the total hacked funds to the one who hacked as a gesture in case hacker decides to return the hacked funds but it seems they are living in a different universe to think and offer such bounty.
just like honeyspots for hackers knowing that this one involved millions of USD once they would really be able to breach out. If they've been able to experience hack in the past and now we are seeing the same thing
then this solidly indicates that their security is simply shit. People who do make use or make those considerations are really that too dumb on trusting them again.
Remembering the days where Poloniex is indeed the best exchange platform out there before Binance come out.
Security breach kind issues in exchange platforms turns out to be not that shocking. They should really be putting that emphasis or focus that much when it comes to security
because you dont know on when those hackers would really be trying out to attack. COmpensation or 5% bounty? thats hell of a lot thing
but of course they would really be willing on giving out such amount just for that trace up.
I am not surprised. This is ultimately the never-ending weakness of centralized exchanges. Of course, DeFi can be hacked as well, but leaving your wallet in the hands of a single entity is not really a better alternative. This time, Poloniex will pay the victims back, or so they say. But one day, a big enough hack could happen and nobody from Poloniex is getting their money back.
Keep your coins in your own wallets. Thats really the best option to minimize the risks.
This is not the first time that this exchanged was hacked if I’m not mistaken and I’m really curious how much the security of this exchange because they become a victim again of the hackers. Most probably there’s an inside job here and that exchange should do their best to prevent this from happening again and assure their users that the site is still safe. Well, its not advisable to store your crypto on any exchanges at all, learn from this hacking incidents and save your crypto. Keep your coins in your own wallets. Thats really the best option to minimize the risks.
I am not surprised. This is ultimately the never-ending weakness of centralized exchanges. Of course, DeFi can be hacked as well, but leaving your wallet in the hands of a single entity is not really a better alternative. This time, Poloniex will pay the victims back, or so they say. But one day, a big enough hack could happen and nobody from Poloniex is getting their money back.
Keep your coins in your own wallets. Thats really the best option to minimize the risks.
Keep your coins in your own wallets. Thats really the best option to minimize the risks.
Topic Security Breach and Protection Layers. Do you think that Exchanges and DeFI need more development and investments here or is this just something we have to lay down our heads and deal with?
Yes and more professional ones. This happened due to a low security network of Poloniex. Probably they need to have more security protocols and not only them but a lot of exchange like Binance Kucoin, which is targeted by hackers. Obviously this is not new but considering the news it will have a great impact on market situation.Right, the thing is that this is not the first time that they have been hack so obviously they didn't learn anything from the past and maybe they are just relaxed thinking that they could not be a target anymore. But there are a lot of groups even state sponsored hackers plying in the ecosystem. And one they case you, it will be just a matter of time before they hack the exchange in whichever means possible.
Not sure though what is the impact in the market situation. We didn't see any major downside on any top tier coins right now. So perhaps this is just a non factor and only Poloniex and it's customers and Justin are being affected. Hopefully the funds are SAFU so that those who lost their money can get it back at least.
Getting hacked once is all right. Everyone does mistakes.
But twice? In less than 10 years?
I mean, it's a critical field, security should be the top priority. How come you be hacked twice in 10 years?
But twice? In less than 10 years?
I mean, it's a critical field, security should be the top priority. How come you be hacked twice in 10 years?
Well, guys, I guess a lot of you already know this. Poloniex, aka Justin Sun's own Exchange, suffered a hack of 60M+ USD, and they are offering a 5% Bounty (if there are any white hat hackers here or do you know an interested one, here is the official announcement https://x.com/Poloniex/status/1722956238160536049?s=20).
On the other hand, TRX and USDD do not seem to suffer any backlash from this news.
Topic Security Breach and Protection Layers. Do you think that Exchanges and DeFI need more development and investments here or is this just something we have to lay down our heads and deal with?
I think it was still not clear if it's just $60M but potentially it could be even worse to $100M hack. I don't know if this is just for publicity stake but Poloniex has never made any headline recently but hoping that they'll get it. The whole crypto needs development and yes it's still in infancy stages so it really need one On the other hand, TRX and USDD do not seem to suffer any backlash from this news.
Topic Security Breach and Protection Layers. Do you think that Exchanges and DeFI need more development and investments here or is this just something we have to lay down our heads and deal with?
Do you think that Exchanges and DeFI need more development and investments here or is this just something we have to lay down our heads and deal with?
They need to put it up at most times about these bounties for the possible security breach that a hacker may find on their system. It's going to give the idea for that hacker that he can earn from that exploit and at the same time, he'll help the exchange. But this is all for the white and gray hat hackers.
We have to deal with these hacks and we also need to remember that every exchange can be hacked, that's why bounties like this should be like forever.
Because even known websites have a continuous bounty program for potential security breaches or holes.
.
Why would they give hacker anything after that? They would take the money and try to hand the hacker to police.
Yes, they are not bound by contract but its a grey area, and if the exchange use this offer as bait then surely it will backfire at them and assuming they got the hacker by tempting then surely someone from hacking community will do something for that and its known fact that hacking community can even break the most secured websites like intelligence and others to prove that they are not. Why would they give hacker anything after that? They would take the money and try to hand the hacker to police.
Well, guys, I guess a lot of you already know this. Poloniex, aka Justin Sun's own Exchange, suffered a hack of 60M+ USD, and they are offering a 5% Bounty (if there are any white hat hackers here or do you know an interested one, here is the official announcement https://x.com/Poloniex/status/1722956238160536049?s=20).
This always happens to Justin Sun. His services get hacked, and he posts a "bounty" to try to convince the hackers to bring it back.
He's not seeing those coins again.
Are you talking about the one that happened last 2014?
it makes you think what kind of developments they have made since if even after 9 years later they got hacked again
i read that Poloniex didn’t have an exploit detection tool which could have helped them save over USD 45M
(https://cryptomaton.medium.com/poloniex-crypto-exchange-just-hacked-for-over-114-million-a-post-mortem-2484f8811b8a)
Tron Blockchain is explained below.
1.Tron is fast and reliable.
2.Transaction fees are the lowest.
3. Stable transaction fee.
What do you think ?
Although most of the exchanges already have what they call safu, which is a refund insurance against such hacks and other security incidents that may happen in the exchange, the team will make a 100% refund but then there is still a need to improve.
Why are these platforms easily hacked? 500 million is not a small amount that one hacker may be able to collect, even if he gets 5%, it is enough to live well in many countries of the world. I wonder how such platforms can not have an advanced security team.
Tron's transaction fees are not the cheapest and are increasing day by day. I paid about $20 to complete the last 20 transactions, with an average of $1 per transaction. These fees are enough to conduct 10,000 transactions on the MATIC network.
1.Tron is fast and reliable.
2.Transaction fees are the lowest.
2.Transaction fees are the lowest.
Tron's transaction fees are not the cheapest and are increasing day by day. I paid about $20 to complete the last 20 transactions, with an average of $1 per transaction. These fees are enough to conduct 10,000 transactions on the MATIC network.
Seems like some exchanges just waiting a security breach before they step up with high level of security to protect investors funds. Anyways, Justin already said all affected users will be fully refunded so kp worries. However, it is still a thing of concern when an exchange which is supposed to have the highest level of security is easily breached and funds get stolen.
It happens rarely and if people who hack money has good intentions then they will not really target a private so I don't think the user who hacked money will be tempted by offer but the exchange can be more generous and offer a work contract too so that they can convince the users that they assept their security flaw and willing to rectify it no matter what.
I don't know, money from huge heists is hard to launder, and $3M risk free money must sound appealing. But i don't understand why anyone would believe it's not a trap. That contract wouldn't be binded by law, and paper contract like that would be laughed out from any court if the criminal decides to take it.
Why would they give hacker anything after that? They would take the money and try to hand the hacker to police.
On the other hand, TRX and USDD do not seem to suffer any backlash from this news.
TRX and USDD have nothing to do with the hack, so it does not significantly get affected, even though the exchange owner is the developer of the token.
Topic Security Breach and Protection Layers. Do you think that Exchanges and DeFI need more development and investments here or is this just something we have to lay down our heads and deal with?
Yes, due to the nature of their centralization process, they need regulation to force themselves to invest more in security. Besides hacks, transparency and accountability of the exchange funds are also worth considering, noting the FTX issues. But specifically about security, yes, since they handle users' money, they should take security as the main priority. Unfortunately, we are aware that many hacks happened both to DeFi and centralized exchange, but it shows they haven't made it into their top urgency.
I agree about the tokens explanation, but we also know that people might fud because "oh Poloniex is from Justin Sun and TRX was created by him it might collapse like FTX" You know shit like that
In terms of security, it worries me the lack of White Ethical Hacking departments that the projects Have, Exchanges and DeFI mostly. I mean I have some contacts in some CEX and I search often on CryptoJobList and Ethical hackers are not searched. A good example is a fellow Argentinean who found a massive breach on Curve and he retrieved the money back (Thankfully). The reserves Aspect is another important aspect, If I want to invest heavily in a CEX I look at how much is on BTC and Stablecoins (I know stable coins are not a guarantee of safeness or transparency but in a crash they are not that critically affected.... if the project or team behind it is honest)
Well, guys, I guess a lot of you already know this. Poloniex, aka Justin Sun's own Exchange, suffered a hack of 60M+ USD, and they are offering a 5% Bounty (if there are any white hat hackers here or do you know an interested one, here is the official announcement https://x.com/Poloniex/status/1722956238160536049?s=20).
On the other hand, TRX and USDD do not seem to suffer any backlash from this news.
Topic Security Breach and Protection Layers. Do you think that Exchanges and DeFI need more development and investments here or is this just something we have to lay down our heads and deal with?
On the other hand, TRX and USDD do not seem to suffer any backlash from this news.
Topic Security Breach and Protection Layers. Do you think that Exchanges and DeFI need more development and investments here or is this just something we have to lay down our heads and deal with?
It's a new hack right? And they hacked in the past too but I don't think they ever recovered anything from the hackers and the same goes to this as well. I want to clarify that they are offering 5% of the total hacked funds to the one who hacked as a gesture in case hacker decides to return the hacked funds but it seems they are living in a different universe to think and offer such bounty.
I hope the hackers refunds the stolen assets this time around cos the amount involved is huge compared to that of HTX.
It happens rarely and if people who hack money has good intentions then they will not really target a private so I don't think the user who hacked money will be tempted by offer but the exchange can be more generous and offer a work contract too so that they can convince the users that they assept their security flaw and willing to rectify it no matter what.
Well, guys, I guess a lot of you already know this. Poloniex, aka Justin Sun's own Exchange, suffered a hack of 60M+ USD, and they are offering a 5% Bounty (if there are any white hat hackers here or do you know an interested one, here is the official announcement https://x.com/Poloniex/status/1722956238160536049?s=20).
On the other hand, TRX and USDD do not seem to suffer any backlash from this news.
Topic Security Breach and Protection Layers. Do you think that Exchanges and DeFI need more development and investments here or is this just something we have to lay down our heads and deal with?
On the other hand, TRX and USDD do not seem to suffer any backlash from this news.
Topic Security Breach and Protection Layers. Do you think that Exchanges and DeFI need more development and investments here or is this just something we have to lay down our heads and deal with?
It's a new hack right? And they hacked in the past too but I don't think they ever recovered anything from the hackers and the same goes to this as well. I want to clarify that they are offering 5% of the total hacked funds to the one who hacked as a gesture in case hacker decides to return the hacked funds but it seems they are living in a different universe to think and offer such bounty.
Yes, a new hack and thanks for the clarification of the Bounty
We all know, that comparing Poloniex with other exchange have better security.
But still, there is some chance of getting hacked, because hackers cannot attack the network what they can do is attack the platform especially (exchange). IMO, better educated our self (Never trust anything, even the platform offering you with high security).
Never hold on exchange.
But still, there is some chance of getting hacked, because hackers cannot attack the network what they can do is attack the platform especially (exchange). IMO, better educated our self (Never trust anything, even the platform offering you with high security).
Never hold on exchange.
The hackers obviously will have a hard time liquidating those coins but I don't think they just gonna let the opportunity slide and take that 5% reward from Poloniex rather they wait for the right time to totally steal those coins. This is not good news for the crypto community since bitcoin price is slightly increasing these days and I doubt it will gonna continue because of this hacking incident once again. Exchanges should really quit if they cannot secure their platforms because they just compromise their users every time they get hacked and lose the funds of their users.
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