Bitcoin Forum

I was just wondering about something. From time to time we see exchanges get hacked, with a big loss of Bitcoins for the customers as a result. However, I was wondering if the other coins and tokens you are invested in disappears as well? Let's say Ripple, Zcash, Monero etc.

all digital currencies (not limited to bitcoin) stored on exchanges are susceptible to being lost in hacks on those exchanges

Different exchanges have different policies towards losing customers' coins. Some will compensate and some will file for bankruptcy. Always think of an exchange as a platform to move a limited amount of funds for a short time to perform a specific purpose. Never use an exchange as a long term funds storage.

I want to recommend your PC as storage but it can be as vulnerable as a phone. You need to do some extensive research on how to protect your computer from snooping. If large companies are working to fix the latest Intel Meltdown vulnerability, how can you protect yourself. Still, keeping your funds with you is better than trusting an exchange to hold them for you. On that note, I have some low valued coins stored at some exchanges because I don't feel like installing their wallet.

If all of these assets in the exchange site, that gets hacked already drained by the hackers and that means if you are losing all of your amounts in there because exchange site doesn't have any ability to recover the user's fund.

Because your privacy coin still stored in the same wallet and the name of privacy coin means nothing in that case.

The privacy coin means if someone is not able tracing your transaction.

Just do not store money on stock exchanges, that's all. I bought it - I brought it to a local wallet, waited for the moment, put it on the stock exchange and sold it.

everything can be hacked. Those rich (posh) boys who grabbed hard wallets are not protected as well. Everything that goes connected to internet at some point can be penetrated. People close to high technologies are always a step or two in front of us. So keep reasonable amount on exchange. (keep funds in different exchanges./wallets.

Everything that is held in the exchange could be targeted and thus stolen.

Blockchain can not be hacked but the value or product it generates can't be stored safely and can be hacked and stolen. Such a contrast.

Such hacks impact the blockchain ecosystem.

No exchange today is hack proof. We need a new breed of exchange. Neither centralized nor decentralized.

All cryptocurrencies stolen by hackers from the exchange will be lost and usually exchange will go bankrupt if they experience it

When it is hacked it means at the least the hot wallets are compromised so a big chunk will be lost.

Yeah, so right after you buy your cryptocurrency, convert it to BTC or ETH and send it to a paper wallet.
Make a couple of copies and place them in different buildings.
Tear out the very last letter of your private key and memorize it so if someone finds it, they cannot steal your money.
There you go, it cannot be hacked or stolen unless they find your paper wallets in your house and then kidnap and torture you or something.

Lol, it is damn demotivated thought to trading investors. We need to know all the trading site are hackable. If the hackers attacked to the any concern wallet will not be stop before they are attack or after that. Everyone will have to face the condition like how nice hash investor faced the same thing you will also with the trading hack too.

It all depends on type of the exchange you know, some will try to make it up for users, thing what poloniex did when they got hacked,  and some will dissappear simply by claiming to be hacked and even if they weren't hacked at all. This is why many many people will advise you to keep your coins off the exchanges and to go on exchanges and trade only when you need to.

I think that if the problem is likely to trouble everyone, so it could cause prolonged problems and the possibility of many people taking action and most likely will cause serious problems.

I think if an exchange gets hacked, everything is affected so most probably btc and altcoins gets hacked too. Depending on their policy they could only be able to return a percentage of your investment if this happens just like what happened to South Korea's Youbit recently. So hacking is a major challenge on businesses built in the internet, we are not really safe and I think could never be.

I think the simplest way to deal with this circumstance that is really inevitable by any crypto exchange is that you should never put your coins their. In my case, i only put my coins on crypto exchange from my MEW if only i sell a particular crypto. So all of my coins are being kept in MEW and transfer it only to crypto exchange when needed.

In the case of Etherdelta, putting one's private and public key is quite dangerous because you are giving hackers the key to directly access your wallet.

I think even if there are measures to find or at least track those lost coins through hacked exchanges, it would be very difficult because it's actually one of the features of the cryptocurrency market. It is very private with its transactions, and there is no paper trail that a person could follow to find the dealing made by a person with another. With that said, I think the most important aspect of dealing your with other people or other entities is to be secure with the information that you need to have and give in order for the transaction to push through. I think if you would be extra careful with them, then you would decrease the risk of your transactions being at risk, more so hacked.

It depends on how the people in those Bitcoin Exchanges build their systems. All hacks are usually done as an inside job.

I think every user of cryptocurrency should always have at the back of their mind that inspite of the expectations of high returns of crypto there is a high level of risk involved and therefore there is need to expect the worst to happen and should be prepared for it.

I guess it depends on the hack.

Just remember don't store big amount fund in any exchange , transfer all your cryptocurrency to hardware wallet or desktop wallet (make sure computer don't have infected virus) , exchange don't recover user fund if it's gets hacked

Definitely it depends on how good and well trained the hackers and they can actually hack the whole system without leaving any token. That's why never leave any coins in exchanges as they're not liable to any tokens that stolen to you, you gonna be a crying child later on.

I always think this when i put my btcs in exchanges,they are lost already to give you a mindset to be vigillant in each and every time.

Hackers that go after exchange sites don't leave stones unturned as they go after everything they can get. Exchange site that have been hacked in the past, its not only btc that is being traded on such site that gets affected, its the entire exchange that is compromised and that most times brings to the end of such site depending on the amount of damage the hack is causing. The truth of it is that, keep your funds yourself to avoid stories that touch because exchange sites are subject of targets everyday.

The concept of the blockchain is that everything is decentralized which means that the transactions cannot be followed, you can't really know who's behind the hack.
So I think the best thing to do to avoid stories that touch is..
* don't use an exchange wallet as a savings wallet
* trade with the big reputable exchanges on the high volume trade
* also be updated on wats going on in the crypto world.

It depends on exchange's situation,if their system is f*cked up with the hackers,morelikely you will lose everything thats why we dont store our holdings in exchanges.

Of course it will disappear. It depends on what info was stolen. But in my opinion, most of exchange hacks are not real, just owner takes customers money. But it is just my point.

If a big exchange hacked, very big and bad things happen. Such as the passing of people's identity information to hackers, the theft of coins, etc., take the crypto money world too far back. People's trust is over and no one wants to invest

You can take a look at the largest exchange at the time Mt. Gox which was hacked in 2011 and continued to behave erratically until 2014. 

https://en.wikipedia.org/wiki/Mt._Gox

The people who lost their Bitcoin on the exchange settled for $480 per BTC while the CEO gets to keep the Bitcoin.

https://news.bitcoin.com/winner-mt-gox-trial-mark-karpeles/

That is the main reason you need to keep your crypto assets on paper wallets and keep the private keys private. A paper wallet is unhackable in terms of online hacking. Keep it safe though. I would suggest taking/tearing the last letter out and memorizing it.

You can not say that before the hack. Look at Bitgrail hack:

Only NANO coins disappeared. All the other assets should be safe according to statement of Francesco the Bomber.

Maybe It will happen. Do not put all the eggs together in one basket
Coin got hacked that do not affect us.

Its an interesting thread here, and I have a lot of friends who lost tons of NANO from the Bitgrail exchange. I think everyone should read this article explaining what happened so they can protect themselves in the future.

Always store offline if you can!

http://fortune.com/2018/02/11/bitgrail-cryptocurrency-claims-hack/

It’s better to got not much coins on exchanges, I just got some money to trade there but all my other longterm coins are stored in a wallet, funds on exchanges never 100% save

I also think, all the tokens and coins are converted to BTC and then transfer using BTC. That is the best way for a Token to have a value. Unlike when you hack all tokens, you will need all kinds of Wallet in order to store them.

it is not just BTC that are stolen from exchanges... all coins can be stolen.

Anyway the most recent big hack was on coincheck in japan and the hackers stole NEM coins worth $400 million dollars.

All coins stored on the exchanges can be stolen... so it is wise to store in your own wallet.

But coins stored in the wallet can also be hacked if you are not careful with your private keys or the security of your laptop.

I advise using a hardware wallet and lock in a safe.

everything is gone all you coins in the exchange that get hack or only if the hacker hack only certain coins. he hack the coins you don't have and you have the coins he/she don't hack so your coins is there. be careful with exchange site and don't put all your money there you will know if the exchange get hack or the owner itself hack the site.

There should be tremendous issue if an exchange is attacked and hacked. The result would be, more clients and customers will be affected due to their coin and money loss especially when their coin exchange temporary wallets are compromised.
To avoid this unfortunate issue is to not to stay your coins in the Coin Exchange for a long time and you will instead set into coin exchange when you do same day trading.

In fact, most of the time don't need to worry about this problem, because most of the tokens exchange on cold wallet for storage, so most of the time will not happen this problem, but if your tokens, stolen,  big exchange has all enough money to pay.

Yes, everything will be gone because hackers can take away all the coins within the coin exchange and you will lose all your coins when the coin exchanges has been compromised.
It's a very difficult part of coin exchange to maintain their security in order to avoid this kind of problems but hackers could still access in any ways.
There are more hackers are now focusing on exchange attacks because they could get more money than getting funds from banks and their victims' money.

When big exchanges has a guarantee that all your Crypto Assets will be refunded in case of attacks then the better but in return their transaction fees are higher than any Coin Exchanges in the market.
I still prefer lower transaction coin exchanges because I don't usually set my tokens into their wallets for a long time. I just set them in when I am going to trade the same day.

hack is a very serious issue that should be addressed by site siteexchange I think this should be a homework for the whole siteexchange for security around transactions in order to increase confidence in the exchange platform. I hope that problems like this will be resolved soon because of course the actions of these hackers will be very detrimental, especially for investors who make an investment with crypto currency.

from what i see, when exchanger get hacked in system and some coins are stolen, they refund the user's coin. don't know they really do it or not but i see like that. i never get case like that because i not save my coins/tokens in exchanger

It depends on how do you protect your private key in wallet, if are a careless there's a big chance to hacked and get your asset. The best thing to do is don't put all your coins in one just in case that if hacked, there's another.

For fuck sake!

The thread creator was asking if an exchange is hacked and Bitcoin stolen, then if other coins will get stolen as well.
A bunch of idiots joined in talking nonsense that has nothing to do with the question. Are you people illiterate? Can't read and comprehend simple questions?

My guess is no, but as one of the rare people who stuck to the topic said, it depends on the hack. Coinone was robbed of NEM and nothing else.

Yes it also disappears depending on the target of the hackers. No crypto is safe when an exchange is hacked. It is therefore proven that you must exchange or trade your coins as quickly as possible to avoid the chances to experience major problems. Also, use exchanges which are reliable and has many types of verifications so that you can gain money in a safer way.

Yes, there may be many options as its the digital world and it can be hacked because it's the online platform and it's totally a virtual world.

It is usually the case that only one of the coins are stolen. It used to be bitcoin, so they stole that. These days, they steal whatever, but more likely privacy coins like Monero, or they steal something and convert it to monero.

   As I know from reading here on forum exchanges have hot and
cold wallets for every coin they support, hacker hack this wallets
or just one. It is not safe to keep your coins in any exchange, that
is advice from all high ranked members on this forum.
   Until now I did not read that any hacker exchanget for hacking
exchange. Cause of that I think that most of this cases are inside
jobs, maybe I am wrong but until I see that some hacker is arrested
I will not change my opinion.

Yes, there is a chance any and all coins will be lost forever.  Any coin that the hacker can gain access to will be gone.  They won't leave anything behind unless they can't get to it.

If an exchange gets hacked and not it's wallets, then your information on that exchange would get leaked. If the hackers get access to the wallets, then whatever wallet has been hacked, then your money if its stored in the wallet will be stolen. Depends on what the hackers want to get access to. Some hackers hack exchanges/sites just for fun. They don't take users funds or any data.

Well when NANO just got hacked last month on Bitgrail they said that it was only NANO (XRB then) and the rest of the funds are safe. I will believe it when I see the rest of my funds, up until then I obviously will have reservations on their character.

If your exchanges wil lbe hacked all of those investments of yours will be vanished into thin air leaving nothing for your,you will lose everything and that will be unrecoverable if you put all of your investments into these exchanges,that is why it is not recommended to put big amounts of money in your exchange accounts so that you will be safe if anything happened.

Yes always trust your own eyes only. But you can not really compare Binance with Bitgrail. Bitgrail was/is operated by a person who calls himself "The Bomber"...

Unfortunately Bitgrail is still not open. I am regreating very hard that I have not transfered my nano coins to a wallet. :(

all coins hold in an exchange can be stolen... so this is one of good reasons NOT to hold coins on exchange but store them on personal private wallet (better if hardware one like Ledger or trezor)

Why mad?  ;D

There are targets for hacks. Have you seen the etherdelta hack? There are just picked tokens that are missing and they are ones who have a greater value. I bet hackers wont be taking any cheap coins since it will be a waste.
Beware of those kinds of exchange for they might have hacked themselves just to rob coins and you cannot do anything about it afterwards. There is no insurance in the crypto world. Say bye bye to it once its gone.

This is why I dont trust exchanges. You don't have the fulk control over your coin and it might be hacked anytime. I just place coin in an exchange when I only needed. I prefer to keep my fund on my own wallet than exchange. Also choose an exchange that is already well known and established. There were large exchanges out there that actually has a good security feature.

Etherdelta's hack caused by DNS changed by the scammer and this case was very similar to the scammer that puts phishing link when someone was opening etherdelta.

Are you nut? Etherdelta is using the privatekey method and hacker is only able to steal ethereum based tokens and ethereum token itself.

It's different with what already asked by OP. It looks like you are a part of those are not reading what question has been asked by OP properly.  ::)

There are three ways of continuation after it. First is that they will not return the money back, no matter what. Second is that they will be fair and will return the money, as it was their failure. And the last one is find hackers and return everything from them.

exchanges should hold a large part of their funds in cold wallets(=only accessable by a few people),
however it wouldn't be surprising if many holds a big part of coins in hot wallets, probably the less established exchanges could do this.
it's never wise to keep your crypto on an exchange! they hold your private key, thus they have full access in the end while you don't.

however if you are not technically interested it's maybe safer to keep it at an exchange, compared with maybe having viruses and such.
ultimately it's your money and your decision!

There are three ways of continuation after it. First is that they will not return the money back, no matter what. Second is that they will be fair and will return the money, as it was their failure. And the last one is find hackers and return everything from them.

This is the risk of a centralized exchange. That's why you should only put the coins/tokens you want to trade on an exchange.
If they can steal Bitcoin, they can also steal the other coins/tokens.
You can minimize the risk by trading at multiple exchanges.
You can use decentralized exchanges, but people don't really use them.
Except some exchanges for Ethereum. But they can be hacked too (DNS hack).
Or you can try to use BarterDEX. But there is too few people using it.

I read that there are already cases when hackers hacked exchanges and stole a lot of money,if compared to banks, then the crypt more risky....

Exchanges have key information that controls large amounts of alternative coins and especially bitcoins,and Of course they must be very careful when they are checking their wallets and its not about checking hot or cold wallets,They need to renew their  security software..So Answer is obvious if they do something wrong about these procedure of course you will lose tokens or another coins too,It depends on which information will they hack,If they steal the information which controls your concrete coin you may say them bye...And we all know, incidents like these have already happened.

I wonder why so many people still use exchanges to store their coins for a long time. Exchanges are so unsafe, they got hacked regularly; moreover, some exchanges crash and all users belongings just disappear. Wallets (online or desktop) are free of charge and not so easy to hack.

It will be an unfortunate situation for both exchange and owner of coins. I think different exchange has their policy regarding hacking or loss of customers funds. Some may decide to compensate customers while some may not.....its better to find out.

We have always make our token and coins not to stay long on an exchange wallets. Hackers now are targeting any security exchanges even it is centralized or decentralized. We have always diversified our assets because no one is secure now.

At the stock exchange, all the coins can be lost and lost, BTC has the biggest price and most of it is stealing the most, so if they have the opportunity to steal some other coin, they will steal it too.

I think it will be gathered also by the hacker to trade. There are a lot of money in altcoins too and I bet most hackers targets altcoins instead of bitcoins, I wish there's away to hold funds that are confirmed taken by these hackers to stop these instances.

On the off chance that a major trade hacked, enormous and terrible things happen. For example, the death of individuals' personality data to programmers, the robbery of coins, and so on., take the crypto cash world too far back. Individuals' trust is finished and nobody needs to contribute

To reduce the risk from this case, its better to chooce exchange that has protection for their customer, like Binance that has SAFU program ( Secure Asset Fund for Users). All exchanges should be has the same protection for their customer. Other way to minimize this risk is use also minimum 2 different exchanges.

It depends on the exchange, which pays out if it trades all the money it needs.
But if the exchange cannot pay the token, it will disappear. ;D

Thats why if your holding your coins better its better to move it to your private wallet thats safer !

The fact is not only bitcoin but all digital currencies hodl on exchanges possible to loss if exchanges been hack. Its better to keep your hodling in your safe wallet rather that keeping it in exchanges. So no excuses for losses if you hodl and the exchanges was hack.

#Support Vanig

if the resentment has occurred in the exchange, the asset of the trader becomes a threat and will not be able to return. but for large exchanges like bittrex, bitfinex, binance, bitbay etc, it increases security. If you want to be safer you can save assets in a personal wallet like Ledger or Trezor.

trading or exchange can all be hacked, but we can still outsmart it by copying your money in several places and making sure that the place is only you who knows. And the most important thing is not to put everything in one place. must make a copy that is different from the needs you use, then you lock the two places and make sure only you hold them and use them.

each exchange has a different policy for the customer's lost coins. Some exchanges will compensate and some will file bankruptcy. Never use exchanges as a deposit of long-term funds, if you want to save, you can do it in the wallet.

If an exchange gets hacked and you have your coins in the exchange then there is every possibility that your coins will be stolen if they get into your account regardless of the kind of coins that you have, if they want it then they can take it. Which is the reason you should never leave your coins on exchanges as they are prone to hacking.

For storing your crypto assets, I advise you to use hardware wallets. If there is a need to store your coins on stock exchanges - do not store them on one and carefully choose exchanges that have already earned credibility.

Of course, everything in network could be hacked, I have some coins for amount 1500$ on exchange and they scamed! really it was shock... but everything could be

Yeah sure when an exchanges get's hacked, any tokens could be affect, it's not only bitcoin that's been hacked these days, as a matter of fact, some of the recent hacks on the exchanges is not bitcoin hack but other tokens.

Hackers can steal everything. But the deal is which exchange platform do you use. Such companies as Binance, Bitfinex will compensate all losses, but small and unknown exchanges won't do anything!

I never kept the tokens on the exchanges, too much risk. I only use MEW as a wallet. I guess the best option is hardware wallet.

It depends on the exchange vault, most exchange has different vaults with various degrees of security. I believe that the amount which are needed for daily maintenance of liquidity could be differentiated from the funds which are expected to be stored for longer periods of time. Also, it's possible that the exchange have different vaults for different cryptocurrency. In a situation where there is some level of compromise on the vaults, it may be clumsy to report the various cryptocurrency individually, so the exchange reports the dollar equivalent or the bitcoin equivalent of the lost funds. Hence, giving the public an idea of the extent of loss suffered as a result of the compromise.

It depends on the layers of security applied by the exchange. An exchange with a very high security can never get hacked. But in such eventually, the loss is often huge. As an advice, exchanges shouldn't be used to store funds. Always keep your cryptos in wallets you have total control and private key.

Security is the first priority in the Crypto world. As a normal investor, we don't know how all the things work in very well manner related to security. Don't know whether the people really smart who break the security or poor the exchange who can't make good security features. That's why always for me Hardware wallet or the Desktop wallet good choice. Try to avoid the store coins in the exchange. Although put all the investment in one exchange sometime really bad idea.

I exchange nothing ever stored twice already faced with fraud and hacking. on hitbtc and fatbtc accounts were hacked

Exchanges are not for holding, it's only a platform for trading. So, never hold a huge amount of coins there, instead transfer a small amount of coins that you may need to trade then immediately withdraw to your local wallet. This way, you can stay safe.

Depends on T&C of that specific exchanges.
I don't store my coin in any exchange. I prefer to have a wallet for each of my holding.

it should be like that, but there are also those who keep their coins on the exchange, because they work as daily traders, it would be troublesome if they had to transfer coins to their personal wallets at any time.

My opinion is that it is not safe to store your coins on stock exchanges. You expose yourself to greater risks. In case of hacking, at least your funds will be blocked for a certain period of time, before the exchange is restored, and at worst you will simply lose everything.

The last time I was afraid for the loss of my funds was when the BANCOR exchange was hacked. I just did not manage to get them out. Thank God everything worked out, and I did not lose my coins. But this case made it clear how it is not safe.

Just usually the loss of the exchange count in bitcoin, that is all lost altcoins to bitcoins transferred.

There is no one that can not get hacked, one have to be very very careful as far as hacker is concern. Even government can be The most secure Facebook for hacked not to talk of exchange. But when an exchange got hacked they need to make sure they still av a way to secure their customer else they will loose all.

Sometimes, when exchanges get hacked, they compensate affected persons with their token (if they have) and if they don't have they may still compensate with another coin while sometimes some might file for bankruptcy. The reason why its always advisable to keep tokens/coins in wallets except you are trading at the moment.

i couldnt get your point. if an exchange gets hacked and if you have some altcoins or bitcoin in that exchange that is it they all disappears you loose all your belongings there. it doesnt matter if it is ripple or bitcoin.

Do not use an exchange to store your coins. If the exchange gets hacked, you will use your funds because you don't have Private keys to your wallets in the exchange.

it becomes so sad to see that an exchange site has been hacked and you will lose a whole lot of your coins on that particular exchange site. I was very lucky enough to sell my coins worth $1000 on one exchange site and two days after, the site was hacked. Not always safe to keep monies at exchange sites to me.

Everything can happen that is why i prefer to keep money only on my wallets. Because if you have full control, then it is much more reliable.

Crypto-exchange is an insurmountable goal for hackers, and often traders are not given any guarantees or means to attract the owners of exchanges to liability.

I think hackers will be targeting the top rank coins since it could be easily be traded due to the number of exchange. This is why they will specifically choose bitcoin or ethereum as the coin they will be hacking.

The future for exchange will be systems that can better protect the safety of traders. I hope that traders will not have to pass on their secret keys.

No matter how secured the exchange site is, there is always a possibility that it can be hacked since this are online transaction and hackers especially those experts in digital technology. They will always find ways to earn easy money.

Well when ever an exchange is hacked it causes a really problem and a very big lose so I think exchanges should work very hard to see that they protect themselves from hackers

I think if a trade gets hacked, everything is influenced so most presumably btc and altcoins gets hacked as well. Contingent upon their arrangement they must be ready to restore a level of your speculation if this happens simply like the end result for South Korea's Youbit as of late. So hacking is a noteworthy test on organizations worked in the web, we are not so much protected and I think would never be.

I agree, anytime that an exchange gets hacked, there is always the  loss of coins from the exchange which leads to people getting scared that their coins might be stolen and then there are fuds being spread account, this really ends up affecting the market as a whole and the price of the coins. As long as our money are still online, then we will never be free of the threat of hackers.

based on the experience I experienced when I saw that the hacked exchange generally lost the top 10 coins. because the logic of hackers can easily sell on other exchanges, and those that are very vulnerable to hacking are usually BTC and ETH.

Exchanges are not for storing funds, they are for trading with your funds.
Exchanges can be hacked and you can lose your investment.
Have only the amount you are planning to trade with on exchanges.

It is safer to store your crypto in a private wallet than in exchange. I only send crypto to the exchange if I trade the rest. I will send it back to the personal wallet even though it requires a fee to send it for security reasons from hack exchange.

i think all digital currencies are at potential risk of being lost to any exchange hack, damage is not limited to bitcoin alone

Maybe then our property stored on it will be lost, so I advise only when selling new to transfer the wallet to store in a short time, should not leave them for a long time. Nowadays electronic money is quite dangerous

They are stolen. and then exchanges blacklist them and dont want to accept those coins anymore. Monero dont have transparent ledger and you cant trace coins when they change wallets so Monero cant be blacklisted.

About major break-ins i have not heard, I hope that the exchange became more protected.

It depends on which exchange , in as much as they are susceptible to hack and lost of funs some exchanges have gone ahead to insure their exchange and can pay back individuals when lost occurs

Yes, there were exchanges wherein altcoins had been stolen. Every coin in the exchanges are not exempted to hackers. With today situation and with bitcoin's price which is very low, hackers shift to altcoins. Better not to put every coins in exchanges. I'm sure you don't want to regret.

How do you say "from time to time"? So do you think that the frequency of exchanges getting robbed is so often? I don't think so.

Anyway, I haven't heard any news saying that a particular exchange was hacked and all of its coins lost. What I heard every rime there are cases like this is that only few coins (1-2) were stolen like this news: https://www.japantimes.co.jp/news/2018/03/13/business/corporate-business/hacked-japanese-cryptocurrency-exchange-coincheck-refunds-customers/#.W5cCq4gRUwg
No, if for example btc lost then other coins will not be affected — they will remain intact. But you should be prepared because there's a tendency that exchange will be foreclosed.

I assume the exchange makes a decision if they benefit more in the end by paying the customers back and continuing operations or shut down and not pay it back.  Your funds will most likely comes down to a business decision.  That's why it's better to use large exchanges.  They have more to lose. 

If an exchange gets hacked, i think the altcoins in that exchange will be affected because it is already inside in that exchange so if the whole exchange has been compromised so the body of that exchange will also be hacked.

and what about coinsmarkets? they don't pay individuals, they disappear and run away just after their market is hacked, I see there are hundreds or even hundreds of BTC carried by hackers

Every other coins can be hacked, not just bitcoin, as a matter of fact, most of the exchange hacked this year is not bitcoin that they hacked, they hacked other altcoins maybe they discovered some bug in their smart contract and took the advantage, in most case when such a thing happens, some exchanges will compensate the affected users

I think all of the valuable altcoins other than Bitcoin also have the potential to be cracked, hackers are not just eyeing Bitcoin, they are also targeting valuable altcoins, keep watch and protect your wallet properly, security is one of the supporters of your success in crypto.

Never heard of it honestly, that's why I can speculate that this exchange is not officially licensed by any authority or simply a dummy exchange.
They might said that they got hacked but who knows if it's inside job.
This kind of thing often happen to crappy exchange that was made to steal people's money too, so watch yourself.

I have never faced hacking of the exchange where I trade. the only thing was freezing the coin Deposit. not for long. for technical reasons. I rabotal with Poloniex and Binance

some exchanges has there own way to face such hacks.
but most likely its really better if you just transfer your crypto in an exchange when necessary.
although nothing is sure. i would rather say its better to check the exchange policy in such attacks.
if they are going to compensate or not.
or they will be gone no one will ever get paid.

If an exchange gets hacked, then that's some pretty bad news. That would mean that tokens or coins on the exchange are not safe, but I think that it is most unlikely to occur though, because a lot of these exchanges have top notch security levels, and cannot be easily hacked. if you are not cool with leaving your coins on the exchanges, it is best you transfer them to your wallets.

Actually, most of the time it is not btc that gets stolen but a huge mix of a bunch of other coins.
It is just easier to say the value in btc because it gives people a better idea.

For example, when binance got hacked earlier this year, it was a specific bot that dramatically rose the price of bytecoin then automatically started making trades against people's wallets.
Hackers do stuff like this because all of the wallets are controlled by the exchange itself and it is easy for an exchange to freeze all of the wallets if they suspect a hack.

The simple solution to all of this is to simply just don't have your coins on an exchange.
Or, if you are a day trader, have no more than 1k to 2k worth of coins to trade.
After all of the information out there on how to protect your crypto and the dangers of just leaving it on an exchange.
If a person ignores all that and gets hacked, I have no sympathy for them

all there must be risks.

therefore, don't put too long a token / altcoin / bitcoin balance in an exchange, especially for underground exchangers.

it's very risky, unless you are ready to lose :))

I actually thought, was it really hacked or just a manipulation for "money laundering"? :))

Hahaha kidding,

But that can be true....

Any of them can get hacked. The reason most have involved bitcoin is because is by far the biggest and when the exchange hacks happened it was the only real coin really.

is it true that decentralized exchanges cannot be hacked or useless to hack since the exchange do not hold customers' coins/tokens.  they're merely medium of trade where they interconnect sellers and buyers.  once the price agreed, transaction takes place automatically.

one decentralized blockchain I know of is bitshares.  you can post sale or buy orders directly into the blockchain itself.  and once the price is picked up, the transfer of tokens will happen instantly.

I have much news about different exchanges having been hacked. And with the technological age right now, hackers are getting sophisticated with their tools also to hack the heavy firewall and security on many exchanges.  Its a cat and mouse battle between exchanges and hackers

I have not yet encountered this problem, but I can assume that no one will refund me in case of hacking of the exchange on which I trade. That's why I do not advise you to keep on the exchanges assets that you do not use. It is better to create a separate wallet for them, and better keep it on a cold wallet.

Don't you think they take it all?

if the exchanger has liquidity then they can certainly refund the stolen funds to their customers as soon as possible, so just throw your money in trusted exchanger with luquidity

I think it could also be stolen since hackers hack this exchanges for profit or get money from it and most of what you stated have value. So, in my opinion I would rather put my coins in a wallet rather than in an exchange.

You are right, we shouldn't store on the exchange because not only hackers but also the exchange itself may collapse. This is common knowledge and people choose to store in their wallet (no exchange wallet) when they want to hold coin long term.

It depends on how do you protect your private key in wallet, if are a careless there's a big chance to hacked and get your asset. The best thing to do is don't put all your coins in one just in case that if hacked, there's another.

It is not secret what will happen. Because it is already was happened many times. If Exchange will be hacked, Exchange will lost some crypto and will not able to return crypto to clients. In most of cases exchange will disappear after that.

Cold-storage or having the coins online somewhere with that is more of a safe strategy to coin storing.

A verified exchanges when declarimg that they are bankrupt or going to close down their services will usually make an announcement so that people could withdraw their coin and at the same time giving time for people, but the fishy ones are not so beware.

There is nothing safe 100%. There are just safer place to store assets. I just do not put all my eggs in one bag.

Yeah, it possible and that was many cases about it. Just find safe exchange for you but never store your money on it. Wallet are better to keep your money safe.

when all that will happen, in my opinion, there will also be information beforehand and therefore when we have committed to enter the world of exchange we must always follow the latest information so that we can anticipate it.

An hacker will not leave coins like that in an hacked wallet, example of coins you sighted possess great value so, if exchange got hacked those tokens you mentioned will disappear.

On exchanges hold only the coins you want to trade with as it is not the secure place for storing your coins.
Exchanges can be hacked and your funds stolen. The good thing is that exchanges started to refund their
customers if it happen but that is not a guarantee. Other thing what can happen that the exchanges can be blocked (investigation , government ban etc) and your funds got stuck.

If the cold storage will be hacked as well including all the coins then there's no one left for you.

But like the other exchanges policy if ever something bad happened to the exchange, they are eligible for that loss and you deserve a refund.

There were are lot of interesting stories. But in general, nothing stop the hacker to steal all other coins. They are just getting everything that they can. In the most cases it is Bitcoin, because it the number one crypto.

If an exchange gets hacked then that might mean that many of the coins that are being stored on the exchanged will get stolen, and that also mean that a lot of persons would be losing all or most of their investment. This isn't something that we could wish on ourselves, and as such, I would like to rule out the thought of this.

at first, all the big account would be  zero out. and yes, all that coin you can not reverse and you lose them for good.
it might not effect too much if the exchange is small. if it's big, market would dump for a while.

It is very dangerous to keep coins on exchanges. I prefer to put everything in my wallet. Exchanges are hacked too often and people are often not compensated.

Isn't it risky TBH to link your ethereum wallet and giving private key to someone else you don't know or have no info who is managing your money?


I have not heard for IDEX but I'll check it now but I've been using the Poloniex exchange for years and I think that I'm happy with them also using their mobile client which is great too.

Usually, hackers break open in pursuit of a certain coin, and for this purpose an attack occurs!

There were so many cases that the exchanges were hacked and did it very quickly and the most important thing is that today they did not find anyone who was a hacking party, do you understand what it looks like? It seems to me that today it seems that the exchanges are hacked artificially.

If your account is hacked then you are likely to lose all the funds that are stored in your wallet and does not matter bitcoin is or some other currency. And all the money on the stock exchange it is better not to store

Of course, hacking the exchange is a serious problem for everyone, but you know that it is not necessary to keep your money on those exchanges in which you are sure that there is a high level of security, for example, even if the exchange is hacked, you will be returned some of your funds.

in my opinion it is very dangerous to store tokens or coins in the market because this will cause very easy hacking by irresponsible parties. you should save the token through a hardware wallet that cannot be hacked.

This is what I learned. They do not need to be hacked. They can just delist your coins and you will lose them.

They don't need to be hacked? Even if they don't wanted to those exchangers aren't really hack-proofed. All of them even the reputable or popular
ones can really be hacked anytime and its inevitable.

The only thing here as an investor or user on these platforms you should know the risk on storing up your assets into that place.

I think if a hacker is able to hack an exchange, then they can also get all the assets in it. not only limited to bitcoin but also other assets such as ethereum, ripple, zcash, and others. for this reason a trader must read the terms and conditions of the exchange before trading in it.

if you do not revoke your private key in a hacked exchange, then I think you will also lose the Bitcoin and Etherum that you have in it. and other coins will also be lost if you do not do this. therefore, I would like to suggest to all of you. after exchanging in a market, if you leave the market by withdrawing your wallet's private key.

Exchanges are not wallets , just store the amount of money there that you want to trade with , Centralized exchanges like binance doesn't give you the private key so if the exchange gets hack or the website goes down in any reason you cant restore your money , We have seen some exchange hacking before , We should have learned something from them .

so far I see traders on each exchange experiencing hackers, this makes the convenience of trading on an exchange feeling insecure,
if the exchange is cracked, can the assets that we store there be returned? I don't think it is possible, but if it's really cracked, it's not an omission from the user, the exchange management should replace all user losses after the exchange security level is fixed regularly.

the cryptocoin exchanges are always at risk of hacking,  they need to work with good exchanges that guarantee you. I don't know if there's such a exchange