Upbit exchange was hacked. 342,000 ETH lost - page 2.

Strongkored

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Quote from: Pamadar on November 27, 2019, 11:24:24 PM

Quote from: Strongkored on November 27, 2019, 11:14:16 PM

-snip-

That's the problem, traders and investors don't have any clarity regarding to this incident. Even they do public information regarding to this hack
but we are not sure if this really being done by hackers because of their poor security or an inside job coming from the team itself and they are just
doing this to runaway without any blames.

That's my points, they are like hiding what actually happened and finally just using the classic reason that is being hacked.

With company funds that will be used to recovery the lost funds whether their service and also their security systems will have no effect?

shoreno

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Quote from: ashmodeus on November 28, 2019, 03:19:08 AM

ok, the hacker has get what they want. and what now ?

money is not the only the thing that they wanted to get but i think they also want the info or the kyc of users and as well as thier login credentials .

Quote from: ashmodeus on November 28, 2019, 03:19:08 AM

did they can cashed that ETH ?
since their action has been tracked 24/7 .

thats easy . they can always use mixer's and boom they cant be traced now .

Quote from: ashmodeus on November 28, 2019, 03:19:08 AM

btw , this year,is really worst year for crypto exchange industry.
started with cryptopia hacked on january ,continue dragonex, bithumb, binance, bitrue , bitpoint, and now upbit wich the biggest lost from that incident.

not just this year but on the past years there were also bad incidents happen on crypto . i think the biggest was binance because we know how popular binance was compare to to other exchanges

ashmodeus

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ok, the hacker has get what they want. and what now ?
did they can cashed that ETH ?
since their action has been tracked 24/7 .
--
btw , this year,is really worst year for crypto exchange industry.
started with cryptopia hacked on january ,continue dragonex, bithumb, binance, bitrue , bitpoint, and now upbit wich the biggest lost from that incident.

ntsdm1

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Quote from: taufik123 on November 27, 2019, 04:40:04 PM

bitcoin and altcoin prices began to fall when news of the upbit exchange was hacked.
Doesn't anyone think all of this is just speculation made to influence market prices and be used for certain interests?
This has also happened in the biggest exchange binance today.
Although around 340k ETH was withdrawn from upbit to an unknown wallet, the upbit will continue to replace it so that no user is harmed.

It amazes me that there are still opportunities for hacking exchanges. It may seem to us that it’s simply not possible to come up with better security. It turns out that security problems exist now.

jcarlo

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Quote from: ajiz138 on November 28, 2019, 01:57:21 AM

This is bad news that makes the price of bitcoin and ETH fall back. Large exchanges of upbit class can be hacked by hackers. Upbit is a global exchange based in Korea.

is it possible that the security of the upbit is weak so it can be broken into?

In my opinion, almost all exchangers have security problems because exchangers as large as Binance have also had an event like this. The difference is that large exchangers guarantee their customers' funds and compensate for losses

ajiz138

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This is bad news that makes the price of bitcoin and ETH fall back. Large exchanges of upbit class can be hacked by hackers. Upbit is a global exchange based in Korea.

is it possible that the security of the upbit is weak so it can be broken into?

DonFacundo

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Another bad news again in the crypto market, I wonder how the hacker hacked ETH? sometimes I'm thinking this is inside job, knows how to unlock it easily. Upbit exchange should maximize their security.

Pamadar

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Quote from: Strongkored on November 27, 2019, 11:14:16 PM

Many people are respect with what Upbit's attitude will recovery the lost funds, to be honest I don't really believe in all the hacking drama that happens to exchange, surely the exchange development team is not a fool, that's why don't ever entrust our cryptos stored in the exchange with large amounts .

That's the problem, traders and investors don't have any clarity regarding to this incident. Even they do public information regarding to this hack
but we are not sure if this really being done by hackers because of their poor security or an inside job coming from the team itself and they are just
doing this to runaway without any blames.

Strongkored

legendary

Activity: 2814

Merit: 1112

Leading Crypto Sports Betting & Casino Platform

Many people are respect with what Upbit's attitude will recovery the lost funds, to be honest I don't really believe in all the hacking drama that happens to exchange, surely the exchange development team is not a fool, that's why don't ever entrust our cryptos stored in the exchange with large amounts .

Landak

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Quote from: akopjpuge on November 27, 2019, 10:28:19 PM

This is why I don't really trust exchange with my funds. Exchanges are more targeted by criminals and hackers than own wallet. I always withdraw my funds whenever I'm not trading.

I am very suspicious, in my opinion this is a deliberate issue. I'm sure all market exchanges have a professional team and have anticipated hacking but why can this happen again. Well, the good news is the upbit give the compensate/return for the balance stolen by hackers.

Yep, it's better to keep crypto in your own wallet.

shinratensei_

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Quote from: andriarto on November 27, 2019, 10:01:58 PM

Quote from: samcrypto on November 27, 2019, 09:03:08 PM

Quote from: rmhuntley on November 27, 2019, 08:12:54 PM

That's a common thing to happen, many exchanges are hacked. But Upbit is very serious in this case to secure members ' assets.

But they failed to do so and now people are losing money because of this not unless they'll shoulder the hacked amount. Many Korean Crypto Exchanges are failed to protect the users, and we might lose the trust of the public because of that. Its still good that ETH as a whole didn't move that much, maybe some irregularities are still on crypto exchanges and not just on ETH but in the whole cryptocurrency, so guys be aware to protect your wallet and always have a hard wallet or a wallet that you can control.

I think the potential for hacking occurs in every exchange, they are always attacked and must improve performance, even in the best exchange ever experienced it. what is needed is to act after it happens and increase its security again so that it can be trusted by consumers. and it's true we have to be careful of our wallet

As the major exchange site and that's a big shame for upbit to get the problem with its security to consider it has multi-millions reserved funds that already got from the profit by running its exchange site.
Upbit doesn't mention anything about what vulnerability has already discovered by scammer and use it to steal the funds from the hotwallet. Remember about there was a lot of possibility for scenarios that can happen behind the hacked case of upbit. As long as the exchange site can maintain its security and there will be no an internal problem and that case will not happen. We can see so many exchange sites never get any hacked case like kucoin.

akopjpuge

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This is why I don't really trust exchange with my funds. Exchanges are more targeted by criminals and hackers than own wallet. I always withdraw my funds whenever I'm not trading.

Exidous

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Quote from: cutesgirl on November 27, 2019, 08:30:02 PM

Quote from: BeginToMine on November 27, 2019, 07:32:49 PM

Really sad, reason why we really need to be extremely careful regarding security, security should be the watch word of every Exchange despite what before liquidity. This is really disheartening and I do feel for investors who are involved into this big issue and I do hope upbit gets it sorted out and also look for how to secure their Exchange more.

Very sad with Upbit exchange hacked 342k ETH, so far not problem with Upbit exchange and I like this market very much because have give profit by airdrop project and I hope this exchange market will back normal again and take secure for their exchange become more safety again and give safety for their member.

Investors here are starting to be more afraid because if they can not withdraw money at Upbit exchange, this will certainly be very bad news for this market. I hope that they will focus more on security issues and prevent further attacks in the near future. In my opinion, this is a huge loss for the crypto market but Upbit will soon grow again and don't worry too much.

andriarto

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Quote from: samcrypto on November 27, 2019, 09:03:08 PM

Quote from: rmhuntley on November 27, 2019, 08:12:54 PM

That's a common thing to happen, many exchanges are hacked. But Upbit is very serious in this case to secure members ' assets.

But they failed to do so and now people are losing money because of this not unless they'll shoulder the hacked amount. Many Korean Crypto Exchanges are failed to protect the users, and we might lose the trust of the public because of that. Its still good that ETH as a whole didn't move that much, maybe some irregularities are still on crypto exchanges and not just on ETH but in the whole cryptocurrency, so guys be aware to protect your wallet and always have a hard wallet or a wallet that you can control.

I think the potential for hacking occurs in every exchange, they are always attacked and must improve performance, even in the best exchange ever experienced it. what is needed is to act after it happens and increase its security again so that it can be trusted by consumers. and it's true we have to be careful of our wallet

sazonk

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Changing the game

this is a classic story, and seems to be an annual routine when crypto prices will start to rise, then a storyline like this is created, theft of assets in large markets, halving, platform changes, swaps etc. And of course this will have an impact on the ETH price turnaround especially. Sooner or later there will be a price decline, dump in each market.
According to news from Upbit I quoted their statement "UPbit suspends deposit and withdraw cryptocurrency and it will take" at least two weeks "to continue deposit and withdrawal services. We pay close attention to what will happen in the 2 weeks and what effect it will have on ETH at each exchanger, because the number of hacked is quite large.

Sithara007

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Quote from: mirtotanota on November 27, 2019, 09:25:12 AM

even if they track these hackers i think they could not find those hackers, its reminds me mt.gox
mt.gox promise their memebers that return member's money but they are still change deadline time

First of all, none of the money from the Mt Gox robbery have been recovered. The liquidators had around BTC200,000 in the beginning and this came from the Mt Gox wallets that were not hacked. Then the liquidators proceeded to sell some of this amount using various cryptocurrency exchanges. Now they are left with some amount of cryptocurrency (mostly BTC) and some fiat cash that came from the sale of these assets. Till now, none of this amount has been refunded to the victims, as the legal proceedings are taking a lot of time. You can blame it on the red tape and bureaucracy.

And there is more bad news for the victims. The submission deadline for claims have been extended for another six months, and the new date is March 31, 2020 (as per the statement by Nobuaki Kobayashi, who is the Rehabilitation Trustee for Mt Gox). Now submission of claims is the first step towards receiving any compensation and it has been going on for six years. You can imagine how much time it is going to take for the compensation to be distributed among the victims.

samcrypto

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Quote from: rmhuntley on November 27, 2019, 08:12:54 PM

That's a common thing to happen, many exchanges are hacked. But Upbit is very serious in this case to secure members ' assets.

But they failed to do so and now people are losing money because of this not unless they'll shoulder the hacked amount. Many Korean Crypto Exchanges are failed to protect the users, and we might lose the trust of the public because of that. Its still good that ETH as a whole didn't move that much, maybe some irregularities are still on crypto exchanges and not just on ETH but in the whole cryptocurrency, so guys be aware to protect your wallet and always have a hard wallet or a wallet that you can control.

cutesgirl

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Quote from: BeginToMine on November 27, 2019, 07:32:49 PM

Really sad, reason why we really need to be extremely careful regarding security, security should be the watch word of every Exchange despite what before liquidity. This is really disheartening and I do feel for investors who are involved into this big issue and I do hope upbit gets it sorted out and also look for how to secure their Exchange more.

Very sad with Upbit exchange hacked 342k ETH, so far not problem with Upbit exchange and I like this market very much because have give profit by airdrop project and I hope this exchange market will back normal again and take secure for their exchange become more safety again and give safety for their member.

rmhuntley

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HALA MADRID

That's a common thing to happen, many exchanges are hacked. But Upbit is very serious in this case to secure members ' assets.

BeginToMine

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https://www.payaccept.net/

Really sad, reason why we really need to be extremely careful regarding security, security should be the watch word of every Exchange despite what before liquidity. This is really disheartening and I do feel for investors who are involved into this big issue and I do hope upbit gets it sorted out and also look for how to secure their Exchange more.

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