market sentiment will negative again although they recover customers fund. Investors will afraid if this eth dumped in market and make market crashing again. They only could tagging address , there is no way to freeze this wallet so far. And maybe by this case blockchain developers will developt this feature in order to prevent same case happen again in future.
of course this affects the market even though the hacked ethereum is still stored in its address. it is not easy to implement security like that, we can see the bank if there are cases of fraud or things that are detrimental to other customers the bank cannot immediately block the offender's card, I think ethereum developers will also think of that
Topic: Upbit exchange was hacked. 342,000 ETH lost - page 7. (Read 933 times)
An explanation on how it happened would have been better. Still, its a good thing that they are ready to cover it up with funds but the stolen ETH will be used for market manipulation and looks like the latest BTC drop is because of this hack.
I think there is something about eth. Recently eth announces that their upgrade will come to town, maybe someone knows that there is a possible reversal on its price and hacking an exchange for eth will probably one of the best way to hord it. The exchange will probably not disclose the reason but Im sure its connected on eth development. Too bad Upbit a big exchange could be part of this hording.
Really bad day for upbit exchange because they are lose 342, 000 ethereum coins due to hackers. Why upbit not update the security system for exchange, because I know that in may 2019 some hackers attempt to hack upbit exchange but this they are successful done and stolen worth of 48.7 million eth coins.
Good news that upbit going to cover the lose. But I want to know can upbit recover the funds from hackers?
Good news that upbit going to cover the lose. But I want to know can upbit recover the funds from hackers?
I wonder, why Korean exchanges are often hacked? And this incident triggers the fall of all crypto prices on the market. I hope the exchange can solve this problem immediately and not harming their users, because the 342k ETH that was stolen was worth 48.6 million dollars and this is a bad incident at the end of the year for the crypto industry.
That's because they are not focusing on the security of the exchange. Most exchange often got hacked due to lack of security see Binance before right? It is not korean exchange but often got hacked too. Sometimes I think that these exchanges only make it like they got hacked but the truth is they are covering up some loss fund.
An explanation on how it happened would have been better. Still, its a good thing that they are ready to cover it up with funds but the stolen ETH will be used for market manipulation and looks like the latest BTC drop is because of this hack.
they dont talk about their weakness
i dont think btc drop because of this hack, but as i know its best time to buy btc or eth , i think people who buy crypto right know will earn good profit from it
Heard about it today, damn. Did not hold money on that exchange, but it happens almost every single day. Exchanges, projects, personal wallets, everything is getting hacked every single day without any solution to solve this.
An explanation on how it happened would have been better. Still, its a good thing that they are ready to cover it up with funds but the stolen ETH will be used for market manipulation and looks like the latest BTC drop is because of this hack.
When exchange get hacked crypto-market reacts, that is temporary, after some time things will get back in normal. Explanation
from exchange how hack happened comes after some time, they will have investigation before they make any announcements.
This is just one more exchange hacked, I don't hold my coins on exchange.
An explanation on how it happened would have been better. Still, its a good thing that they are ready to cover it up with funds but the stolen ETH will be used for market manipulation and looks like the latest BTC drop is because of this hack.
This is really awful, I've never used Upbit but this can happen to any exchange...
market sentiment will negative again although they recover customers fund. Investors will afraid if this eth dumped in market and make market crashing again. They only could tagging address , there is no way to freeze this wallet so far. And maybe by this case blockchain developers will developt this feature in order to prevent same case happen again in future.
of course this affects the market even though the hacked ethereum is still stored in its address. it is not easy to implement security like that, we can see the bank if there are cases of fraud or things that are detrimental to other customers the bank cannot immediately block the offender's card, I think ethereum developers will also think of that Only, Ethereum was stolen? So bad this hacking always happen, also on big exchanges like Binance happen, but if they say will cover then will cover the loss. Maybe the price of ETH will go lower but i think they will not sell so fast all coins.
Yes only eth stolen, I don't know how hackers can hack wallets and exchanges they are protected but some people can easily hack these exchanges
At least Upbit claims they will cover the loss from their own assets and the client's funds will remain unharmed.
Korean exchanges are good for arbitraging and Upbit are serious until now.
The Korean exchanges are all regulated and I think if they didn't compensate their customers the regulator would investigate.
The real question is "how did they let this happen"? What kind of breach of security was this, and is there anything other exchanges can learn from this?
This is a serious threat to cryptocurrency ecosystem as a whole, it’s a bad day. The good part is the compensation plan as announced by upbit but investors’ confidence wouldn’t be the same again on the platform. They need tighter security infrastructure to stay in the game.
Yea right, here we go again, can someone just offload all volumes on centralized exchanges to dex exchanges? not possible right? lol well i hope by next year people will start getting used to decentralized exchanges, they are lucky its upbit, would have been a lose to traders if this happened on a weak exchange
According do the report I read, only ethereum was withdrew to the unknown wallet and other assets moved to a cold wallet. I don't where you got other datas from. But the good news is the part where upbit will cover all the looses. That's a welcome development though
Even they will cover the lost fund this will also give bad feedback to that exchange that it was not secured to hacking, and this can also happen again.Also i want to know if there is a way to freeze hacking fund in eth Or only tagging the address ?
Its better to add this feature before releasing ETH 2.0 so it will be more secure from hackers attempt, that all of thier effort will be wasted if they do that next time.
According do the report I read, only ethereum was withdrew to the unknown wallet and other assets moved to a cold wallet. I don't where you got other datas from. But the good news is the part where upbit will cover all the looses. That's a welcome development though
Even they will cover the lost fund this will also give bad feedback to that exchange that it was not secured to hacking, and this can also happen again.Also i want to know if there is a way to freeze hacking fund in eth Or only tagging the address ?
It is scary that an upbit exchange has corrupted this problem and caused hackers to steal it, but they also provided the right solution for compensation for this reason. Why can't they improve the security of floors and investors more secure?
This is why you should not invest or hold your money on trading websites and online wallets
I would say that funds can only be held on those trading floors that are able to compensate you for damage. But who will give you such guarantees?
After all, if not 50 million but 500 were stolen, the big question would be whether the exchange would be able to recover losses of this kind.
In addition, it is not yet clear whether this was actually hacked or manipulated by the exchange.
In terms of seriousness i think upbit exchange is on par with binance so this is not a bad news for those who have funds on the exchange, they will be able to refund users but i am sure that centralized exchanges days will be over soon
It is scary that an upbit exchange has corrupted this problem and caused hackers to steal it, but they also provided the right solution for compensation for this reason. Why can't they improve the security of floors and investors more secure?
This is why you should not invest or hold your money on trading websites and online wallets
According do the report I read, only ethereum was withdrew to the unknown wallet and other assets moved to a cold wallet. I don't where you got other datas from. But the good news is the part where upbit will cover all the looses. That's a welcome development though
Even they will cover the lost fund this will also give bad feedback to that exchange that it was not secured to hacking, and this can also happen again.Also i want to know if there is a way to freeze hacking fund in eth Or only tagging the address ?
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