Bitcoin Forum

Many Coins (Blockchain) got hacked recently, 51% attack included.
Yesterday, we had a bad news from Syscoin & Binance. #SYS price was pumping so fast before #Binance went down for "maintainence" - I think Binance also got hacked. That is too bad.

Maybe binance detects that API is unsafe and there is a security risk. The previous API needs to regenerate the new API. I think this is for security reasons, not by hackers. A temporary maintenance announcement has been issued. Now we can only wait.

They have just announced that the maintainence has completed but I still cannot create a new API
Error: You have to enable Google Auth code or SMS code to create API key.
(While I have already had it all enabled)

Haha

Yesterday I also saw the pump of SYS in Binance. I also think the API has a problem. But I do not know the reason why.

The altcoin has a small number of online nodes and small networks that are vulnerable to attacks by 51%, big coin like Bitcoin, DASH or LTC is not possible!

So this is the most altcoin face problems, most of the tokens, only by a few node management, then the code may be a BUG, so may be liable to the invasion, POW mechanism tokens, could face a 51% of attacks.

I think 51% attack is a mining hack and not a coin / blockchain hack. It's more a trick to fool the system to get faster rewards.. But the coins are perfectly safe

I dont think so. maybe the binance api got some problem thats why they go for maintance. i believe on binance dont say it please ..

This is very bad, I hope because of this price will not fall much and binance with SYS to solve everything quickly.

Actually Syscoin was not hacked by the 51% attack, but by some vulnerability in the blockchain itself. It is said that the hacker generated 1 billion Syscoin from 1 block itself, and then listed it on Binance. Note that the total supply is somewhere 900 million!!
Then the hacker made a big sell order and bought 1 Syscoin for 98 BTC using BTC of other Binance users. And it pumped the price of Syscoin. I think these APIs are very dangerous to use and can be easily exploited by hackers. This has happened previously also. But it does tell us that new blockchains are so risky. Tokens on ETH network are much safer.

I wasn't an hack in any firm of the word hack. It was just problem with the Api I believe. That can't be called an hack.

I have just got an email from Binance team:
Dear customer,
Due to irregular trading on some APIs, Binance has removed all existing API keys as a precautionary security measure. All API users are requested to recreate their API keys.
Another announcement regarding the re-opening of trading will be made once the maintenance is complete. Please stay tuned to our official announcement channels for further information.
We apologize for any inconvenience caused, and thank you for your patience.
Thanks for your support!
Binance Team
Automated message.please do not reply

It was not a 51 % attack on the SysCoin Blockchain or even a hack. Maybe it was a coding error in the API Code of binance - maybe can happen on other exchanges too.

It's not a hack or a 51% attack. It's just a minor bug in the API. And maybe Binance will maintain it again in the near future to fix it.
You should read the information carefully and contact the support of any exchange to clearly ask everything before writing an article like this.
Often, a false statement or rumor can cause FOMO not to be.

Recently there is a report of hacking of an exchange firm. This is major problem, as investors will lose trust in the market and other exchange firms. Cyber security must be upgraded to ensure a better future of the crypto currency market. this will lead new people to invest in crypto currency.

yup, smaller coins are vulnerable to 51% attacks.
Binance had a problem with sys coin, one of my friends had sys at binance, I'm gonna ski him wether he was able to gain some profits, I would say no, or it would be reverted.

There is a bad scheme applied to Blockchain users
So any Blockchain user that got hacked have all went through A phished email sent to them
It is their fault

Secondly I do not believe binance, they are manipulating lies lately whenever there is a sudden pump and it does not favor their whales
Someone bought 20sys for 96Btc, how is that an hack ??

Let’s just trade and be safe

These hacks re-emphasize the need to work hard for better security systems on blockchains and the associated projects or exchanges. These are issues that have commonly come up in the past years and it seems they arent getting the appropriate solutions.

Actually with the increasing popularity of the bitcoin as well as the market crypto currency, many and many coins are coming to this market. This market has also got attraction of the hackers also. Recent cases of hacking indicate that the security needs to be more tightened. I think Binance has done that due to improve the security not because of hackers.

Hacking in crypto industry has become a major issue that affect the traders a lot. And it will demotivate them to be engaged in the market. I hope and wish a secured solution to prevent the earnings from getting hacked in future. Else this growing sector may face some unexpected situation.

This is one of the reasons why many are afraid to try crypto investing and bounty hunting because of this kind of hacking, crypto is very popular right now that is why there are many people who are trying to hack crypto-related sites for them to be rich by just hacking. This is very bad to hear

A news is being heard that recently many of the blockchain crypto coins including Syscoin, Binance etc. are being hacked. This isba very bad news for the whole crypto community.

it's true that you have been hacked recently in some cryptosus markets as Binance, so we have to be careful to keep our assets from being hacked by others.

there is also a point as you say, maybe not 51% of attacks that occur on SysCoin Blockchain. it might be because of an encoding error in the API binance code.

It's not the blockchain. It's the Api problem you can't do anything about that. Most traders wants to create their account with the Api keys on it! i would recommended that to my friends it's very risky, i'm sorry to those investors who got hacked.

I was also supprised when I took a look at price chart of SYS :)). 69 BTC/ SYS, I didn't know what happen, maybe it's one more time that Binance exchange got hacked :). I think it's very normal although Binance is the best crypto exchange for now cause it's not the first time that Binance got hacked and at the moment, hackers are hacking so many exchanges and seem like thousands of BTC has been stolen from so many exchanges :)

Yes indeed it is very painful, but they are very quick in anticipating excessive risks so be patient this is not so bad for the market, now there are some news issues quickly dealt to cover losses and keep trust to all users, The higher their security level, I think not there will be such problems again to keep the market safe and clean.

This is the problem when the market goes up the hackers come and attack the coins. But as per I know BINANCE wasn’t hacked some of the users phished their API key. They announced a temporary maintenance for this reason.

I think because the defense of certain coins is at a minimum. You do not need a lot of money to make an attack 51%. This only says that the market is still very weak and not ready for the arrival of big money.

There is a rumor in the market that the binance got hacked recently. Many thinks that there is some kind of system error. We are should wait to hear from Binance the true story.

Blockchain, hacked? LOL. Would you please enlighten us how can a blockchain of a coin be hacked? Blockchain is a public ledger and is decentralized. Being decentralized shields the blockchain from being hacked.
Binance, on the other hand, is an online exchange. It is vulnerable from hacks. If ever an exchange was hacked, this does not mean that the blockchain of a certain coin was also hacked.

Yes, the problem of hacking, this is now a big problem for users of crypto currency. Hacker attacks occur so often that you can not feel safe with your coins and tokens. I sensed this recently on my own, when a few days ago I was going to move my tokens from the MyEtherWallet purse. As soon as I prepared everything for moving, someone ahead of me and my tokens went to an unknown purse. It was very unpleasant. Now I am strengthening security measures, but the feeling of insecurity does not pass.

We live in an amazing time, computer technology and the era of the blockchain, but something that remains unchanged, namely the fact that each new defense involves a new hacking mechanism ...

Banance was not hacked, you do not have to worry. The main reason for changing all APIs was probably prevention, so nothing serious happened. Now everything is fine, like.

the whole of the cryptocurrency community would have made much more progress if not for the unscrupulous and evil minded scammers and hackers.Each time hackers succeed,the market bleeds.

The altcoin has a petite fragment of on-line enations and petite network that are liable to invasions beside 51%, burly coin affinity Bitcoin, DASH or is not possible

I think that wasnt blockchain technology (coin) problem, but it is Binance problem. Because every centralized exchange could be hacked. Only decentralized exchanges are resistant to hacks.