Bitcoin Forum

I'm not the first to notice exchanges have a bad habit of getting "hacked" when the price is on a tear and now we are fast approaching the all time high.

We all know what happens next right?

Edit: This poll is for fun but if you want me to add more options just ask.

Hafta say the Chinese one cuz I don't trust 'em.  The Chinese that is. 

You right about these dam fools runnin' away in a bull market.   Happens like clockwork.

Ya but in China you have the chance of getting locked up and having your organs harvested if you get caught. Not that I don't think they are capable of getting hacked legitimately.

I don't think china will be touched , their exchanges are holding most of the bitcoins and the trading volume is huge , not to mention that there is big whales there , I'm pretty sure security is taken very seriously there. I don't remember seeing Kraken being a target of hacking so I'd say It could be this time.

Bitcoin is getting stronger day by day because of peoples trust on it is growing.
Most of peoples keep their money on exchangers because they are lazy to pay some fee when their doing withdrawal to their wallets. Me too. And we know it's not good.

So I hope, there is no more exchangers get hacked anymore. For the goodness of bitcoin ecosystem.

That just makes them the biggest target. The higher payoff means hackers will expend more resources. They may have the best security of all the exchanges (I have no idea) but it may not be enough for a determined adversary with unlimited financing like the US government.
But why you say would the US government hack a Bitcoin exchange? To make bitcoin look bad, most people don't understand the difference between Bitcoin and Bitcoin web services.  

  (/devils advocate)

Sorry but another major hack is inevitable. Rain falls, fire burns, and Bitcoin exchanges get hacked that's just nature. I've been waiting for the other shoe to drop for weeks now.

Thats the thing puts in my mind always when bitcoins price reaches to its peak and suddenly a bad news will come out and im expecting it already and thats not already a shocking news for me.China exchanges would be difficult security is more secure since they hold off the most large volume of bitcoin compare to others.Among the selection i cant point out since we dont have any idea on which one of them would be the target.

I too feel the chinease one will get hacked as there are too many population of bitcoin users from southeast asia. I heard that there were many attempts to hack a certain exchange from a group of chinease hackers previously.

Maybe Bitfinex, again. Or btc-e

If a exchange is hacked once it doesn't get immune to be hacked again

This is a great point, if a exchange has already been hacked how do we know the hackers did't plant back doors throughout their systems. Anyone remember "bad USB?"  Every mouse and keyboard every USB device could be holding custom made malware.

If anything a exchange that's already been hacked is even more at risk. 

It is really just a matter of time isn't it, same way we still get the odd bank robbery people will always try to steal more than they have or will ever have.

I think it's going to be a Chinese one.
But for the fun of it, I would like to see an option about Bittrex and Poloniex, although they are not really Bitcoin exchanges.

How can be known which exchanger is going to be hacked next?
But I can say that sooner or later it will benew hacking again, cause of the price for bitcoin is high and there are people who wish to get easy money by hacking. I am ready to bet that all this sites are fending hackers attact almost every day.

I feel hackers next target will be either bittrex or Poloniex. as above friend said they are not really bitcoin exchange I agree to him but I also think that they are the most easiest target for the hackers. nowadays (after bitfinex hack) hacking trading sites is almost impossible. and I think hacking chinese market would be even more hard.

lol, imagine the hacker hacked one of these Chinese exchanges in the hope to gain millions of dollars (based on the volumes they report) and then encounter only a couple of bitcoins being traded there :D

but jokes aside i wish there were more topics discussing about what the solution can be instead of us coming here and crying after one of these get hacked.

I think Chinese exchanges will be safe for now. Mainly because of the fact, or at least the impression that I get, that it is being done by wealthy Chinese traders.

It's pure speculation of course, so don't take it too seriously, but it's a realistic scenario. Nothing can be ruled out in this case since a lot money is involved in manipulation.

What do you mean "done"? Do you mean that wealthy Chinese traders run these exchanges or that they trade on them? Either way I don't get why it would make them safer.

From the look of it, whats anyone joy when sites get hacked? I want to be sure that OP does not keep money on any of this exchange sites because if he does, I am sure he wont be wishing for such misfortune to happen. If any major hack succeeds to the best of my knowledge, it is not about the direct impact on people whose investments are there, but the indirect impact on the price of Bitcoin which will mean loss of investments to many.

since i believe one of the reasons why these exchanges allegedly get hacked is an exit strategy and because they are failing to make good money, i think the next one can be bitstamp but it definitely is not poloniex because they are pumping altcoins themselves and make lots of money from manipulation so there is not much reason for them to be hacked ;)

If an exchange gets hack, the price will plummet again and we all have a chance to buy more bitcoins at a lower price before it goes back up. In a sense it is good for those who want to buy more bitcoins at a lower price but in the expense of exchange sites and its customers. We should have learned our lessons by now that we should not keep our bitcoins on exchange sites and I am sure OP knows that very well.

The one with the weakest security. I don't think I can predict anything as soon as I do not have info about each websites' security. A cheap website can be hacked very easily, so you better rely on more popular websites. However, at the same time it's not a good idea because the most popular ones usually got the most money, so are the best targets for hackers.

Exchange sites are prone from hacking incidents. Expect hacking incidents will happen anytime since the bitcoin price going up high.
Exchange sites should give insurance to their customers. So their clients are not panicking when something happens to their funds because of hacking.

look for the most popular (largest volume) exchange. and then look for the point of no return.. when everyone wants to cashout/withdraw.
then you will find who and when an exchange will make the warcry of "we been hacked"

I think it's better to use the famous website provider even though we could become the target of hackers. Instead we use a cheap website that is easy to hack. Due to a trusted website we also get a guaranteed security and there will be a sense of responsibility of the provider. Thank you

I think every exchanger is potentialy endangered. It seems they have become attractive target for hackers because of high volume of Bitcoin and often not completely proper protection.
I wouldn't make predictions about that. It can realy happen to any of them but the most important is how will they behave afterwards to their customers.

Behave or not, an exchange simply cannot pay for all the user claims if they do not have the BTC/money anymore. This is one of the reasons why you should not use an exchange as a wallet, or its goxxed before you can take action.