Topic: Yobit exchange- worst case security + support work imho (Read 365 times)

--snip

Like i said, my bad that i didnt issue 2FA on this site before (i have it on every other exchange i have some investments in). And to have your e-mail hacked could be also your own fault. But the system to secure the account  in Yobit with situations like that is less than ok. For example Kraken puts your account on lockdown until you have proven everyting is ok again. and even after that keep withdrawal option blocked for a while (my friend had similar case with Kraken as i had with Yobit)

Their support is next-level bad. They don't even respond to development teams. It's pretty messed up.

Thats an another choice you do have do make specially when you do saw that there are no other exchange that do offer or trade the coin we are holding so we wont really have any choice but to use up this
horrible exchange even we do know that this isnt really good. We do need to risk if we would like to sell our coin holdings on this exchange.

As I mentioned before, I used yobit actively few years ago. they had some alts that others didn't have at that time. So i kept it. I use mostly Kraken, Bittrex and Bitfinex and all have 2 FA activated

Why consider on using Yobit exchange on the very first place? Havent you able to read up the hundreds of complaints do yobit had?
Just been wondering that you are still on luck that yobit do reply your tickets because this exchange is been known that doesn't really answer or having the worst support ever.
By the way, no matter which exchange you do use its always been advisable to set out 2fa of your account and also try your very best to secure your email because once
it would be compromised then expect on what would happen next.

So anyone else has had bad experience with exhange account hacks?
Some other examples what could go wrong with your account on not so good exchanges?

People use Yobit not because of the large volumes and because there is Investbox with all sorts of strange coins (made by the exchange: LIZA, YOTRA, etc.).

There is always so little Yobit can do on your case, which is always one of the reasons why people should never discard the use of 2FA. As far as Yobit is concerned, you could just be anyone trying to get in and faking an identity.

I understand that Kraken may do things differently, but in this case we are talking about Yobit, one of the shittiest exchanges we have so far which I wonder why a lot of people still make use of exchanges like this. It is always like not even valuing your own funds in the first place. Most of the whole thing eventually is your fault and it is a good thing you admitted that to yourself. My advice would be, find a better exchange and take advantage of the additional security features.

I had recently a very bad experience with Yobit. I know fault is mine that it happened in the first place, but how Yobit handeled it, I'm still impressed (negatively)

One of my e-mails was hacked recently. It was linked to yobit and of course hacker changed the password. The account gets lockdown for like 4 days or smthing afther the password change so you can do nothing during that time. I noticed the hacking on the same day. Wrote to yobit about it. They answered that i should wait until lockdown period ends.  The same moment when lockdown ends, i try to change my password and find out that hacker had set up 2FA on it. So it took me many support tickets to prove my identity and let them take down 2FA again. and after that was an other 4 days lockdown and then i could change my password and gain access to my account. Found out that the account was cleared during the time between those 2 lockdowns. Support ignored my suggestion to lock withdrawal request and didnt do anything but asking me to wait until those lockdown periods or ask me questions to prove my identity.

Like i said, my bad that i didnt issue 2FA on this site before (i have it on every other exchange i have some investments in). And to have your e-mail hacked could be also your own fault. But the system to secure the account  in Yobit with situations like that is less than ok. For example Kraken puts your account on lockdown until you have proven everyting is ok again. and even after that keep withdrawal option blocked for a while (my friend had similar case with Kraken as i had with Yobit)

So anyone else has had bad experience with exhange account hacks?
Some other examples what could go wrong with your account on not so good exchanges?

I read your post and I have taken it more or less as lesson for myself. Its good that you have shared it here because people must know that what things can happen with them in the crypto space and how they can loose their money. Yes, 2FA is very very important as hacking Emails and setting up new passwords has become very easy to the hackers as they get more and more smarter in today's world. If you really had the 2FA set up already then it would have been impossible for the hackers to get into your account. As even when you forget the password and try to reset it then also they will ask you for 2FA thus making it far more secured.
No, I am not having any such experience because I have always taken lessons like this and made my way through it. Thanks to people like you who has shared it here.

I guess people believe in big exchanges. Sounds logical that you don't have to check one of the biggest exchanges. If a lot of people use that exchange, there should be no problem. Unfortunately, that is not always true, but too many people doesn't know that.

I'm so sorry that happened to you. Yobit is notorious for being a scammy exchange. I really don't know why people still trade on it and I hope more people like you will share their experiences so the community is aware of what Yobit is doing (or in your case, NOT doing).
Thank you also for the reminder to set up 2FA. It's so easy to do but is incredibly important.