Bitcoin Forum

Very often with the news, we read that hackers kidnap the currency of crypt from private wallets, as well as hacking crypto-exchange exchanges and withdrawing from it a huge amount of crypt money. These crypto currencies, probably, are sold at a price below the market price. Do you think hackers affect price movement at crypto-exchange stations?

I believe that they do not manipulate the price significantly. In my opinion it is unprofitable for them to lose a bunch of time to break the baskets, and then for nothing to sell all of it. Here, most likely, they simply roll over all the tows, broadcasters, bitcoins to another baskets, and then they are already selling.

These hackers surely knows how to maximize their profits, and to be able to do that they don't need to sell it all at once as it will just make the trail easier to follow and track. These hacked coins are sold by batches and by increments, so no significant price change is seen and no trails are followed. Somehow it affects the overall price; negative news still has a huge implication when it comes to price. However on the selling side of things, it would take some time before they offload the coins so as not to get caught red-handed.

Definitely they do affect it because at the time of selling they are actually acting as the dumping source and they dont just dump few thousands but millions in dollars. Off course this has got some major influence on the crypto exchanges. There forms two loop holes here, very first exchanger which got hacked looses its money and investors too thus making its volume go crazy low. And secondly when the hackers sell at another marketplace then they shake the base of whole market by dumping it at low rates. Yes they affect it for sure.

Of course, the hacker must sell at a price below the market and it will affect the price of the coin in gouge, then it will have an impact on the other coins. Hacking a Crypto greatly affects.

Yes they don't sell it immediately in rush which would make their transactions to be tracked and their coins blacklisted easily.Rather they sell it gradually.So this aspect would won't affect the price.But the news that large volume of coins have been hacked would definitely have a negative impact immediately over the crypto market.It creates a change in minds of crypto holders out of which most of investors sell their coins in panic adding fuel to the fire.

The effect of hackers on the dwindling price of cryptocurrency is barely minimal. Every man in this world is profit-oriented, even so the hackers. You can not expect a man to engage in laborious toils of hacking and then cheaply give it out. I thinks what they will do is to sell in batches. Hence, this will not affect crypto price significantly 

LOL

it is not "private" wallet. it is hot wallets that are not properly secured. like a wallet on your desktop that doesn't have a password and when you download a malware.

most of the exchange hacks have been inside jobs and lies. there were no hacks in most cases the exchange runs away with the money themselves.

why would they sell under price? if they sell on the market they will sell on the market price. if they sell them off the market which is the case they will accept any offer they can get and also that won't affect anything in the market at all.

Yes at some of the cases but it will depend on how much they will dump on the market.

But prior for that dumping, it may create fear to others and will began securing their respective funds by either withdrawing or converting it to other alts. Also, it will create negative speculations too that will lead for so much fear and FUD that will bring impact to the current trend.

Sometimes that hacked is shit. It's just their way to spoiled a certain trend and I believed in inside jobs. Hope hacked exchanges will really faced the wrath of law.

If the cryptocurrency or bitcoin is hacked by any hackers.It reduce the new investors to inverse in that asset.Hackers had thier influence in  price of crypto-currency. But they don't have a direct impact in the price of bitcoin.They indirectly impact the  price of Bitcoin

Hackers play an significant role into the price of cryptocurrencies. As we all know, the blockchain technology is an unparalleled piece of security wherein it eliminates the need of an intermediary which makes every transaction safe. Now if in this notion that we see a system that is built for perfection, suddenly was hacked and tampered with despite being monitored by a network of computers, this would notify the public creating an uproar in social media and resulting to a continuous chain wherein it effects the number of investors coming in/out in the market.

Not to mention, when an ICO gets scammed and hacked, this creates this mentality among investors that they will not risk their resources anytime soon due to the weak security given. Hackers can cause havoc into the price of cryptocurrency and may result to a significant decrease on the price.

So then that means the hackers are just monitoring any movement of the price in cryptocurrency. Will it be substandard knowing that it can crucially affects the quality of crypto? If this continues without prior secured notice , for sure investors will turn back. Is there any other strong method to remove hackers in the community of cryptocurrency? If so, then what is it?

The cryptocurrency is attacked by hackers, which will cause the price of cryptocurrency to fall!
People will worry about the security of cryptocurrencies. In order to protect their property, they sell cryptocurrencies, causing prices to fall!

There aren't so massive hacks as you talk so their affect is very, very minimal. It also depends how they exchange the coins. For example if they stole a lot of bitcoin and exchanged immediately, of course it will have very low affect on price but if this process continues for weeks or months, that's not a big deal. Also concider that some amount of that bitcoin is always saved, who knows what will happen and how will price skyrockets?

The news of hackers hacking an exchange is always suspicious to me as I do not trust the exchanges enough for them not to perpetrate such acts themselves and pretend they were hacked. I remember the case of an exchange (trying to recollect the name) that claimed to have lost a large sum of a particular token when in reality the exchange was actually bankrupt.

Most often hackers can't do anything unless you are giving your personal private keys to them. Most of these issues are been manipulated and is not real of hoax only so that it can create FUDs and often triggered the weak-hands people to sell their token into low prices.

Nothing new with this news and this isn't a recent one, many phishing links are existing there if you are not aware of others experience that gave warning about it.

This is a recent one and it's about Binance exchange that recently sold 1 SYS to 96 bitcoin and thousands of bitcoins has been withdrawn(correct me if I'm wrong on this one) it's on investigation now.

Crypto's are volatile so the market price have been unstable since then.

If they sold there's an impact to the crypto economy.

These hackers aren't stupid. They know what they are up against and they won't sell immediately. And hackers don't affect the price ffs. Demand and supply determine the prices, and a lot of factors affect the price. Hackers can also be investors, who may be involved in influencing the price. Hackers don't immediately sell their crypto off. They first protect their asses.
You realize that bithumb was hacked recently right?

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Binance got hacked? I found an article about this and the status is unconfirmed.

Article: https://stocksgazette.com/2018/07/03/binance-potentially-hacked-for-45-million-announces-unplanned-maintenance/

It's still unconfirmed but if they found out that they were hacked, I don't think they'll tell the truth about it. They may say that there's a bug that was abused by these hackers when they've found it first.

Thanks for the link, this is more detailed than the other links that came out.

Even Binance, there's really no safe exchange.  :-\

When they hack your account, that has nothing to do with price.the only time I think it can affect the price of cryptocurrency is when they withdraw it. But wait… there is a difference between selling and withdrawing.

There will be much impact to the price of cryptocurrency when you withdraw, unlike selling it. So if they withdraw it will also affair the price and make it to go down. Uh-huhm…I think the bad activities of that are being done hackers affects bitcoin.

Hackers don't just hack any personal wallet they can actually hack the whole system of an exchange and that is what happening in the past. Basically hacking incident can affect the price of cryptocurrency because it literally creat FUD's and the result is a dumping market. I wonder if all the news about hacking the exchanges is true or its just an inside job.

The extent of influence on the price is largely determined by the amount of funds involved and the exchange in question. The whole singular hacks on exchanges, wallets, or scams are not enough to cause any issues in price. In the past couple of months, I have read reports about several exchange sites being hack Asia and the amount as high as $30 million but the market just moved on as if nothing happen but if the same $30 million dollars is put at risk on a site like Poloniex or Coinbase even Blockchian.info and its not handled the right way such as ensuring releasing a statement to downplay the event and promise of adequate compensation and the same time boost the confidence of people that such occurrence have been forestalled, but leaving things to chance for it to be leaked to the media, its surely going to cause some serious crash in the market price.

Hackers conduct attacks on crypto-exchange to steal tokens, and also to influence courses кpиптoвaлют. The likelihood of attacks in recent years has increased significantly. The decrease in the rate of the crypto currency in the market after the cyber attack is connected with the panic of market participants. State regulation or the limitations of the crypto industry in individual countries have a much stronger effect on token rates than cyberattacks.

I very rarely hear that hackers are breaking into personal wallets. All these cases occurred through the fault of the owners of wallets. Hacking is a very long process that can last more than one year and a large group of hackers is working on it. They're not gonna break into a wallet to get a couple hundred bucks. Their interest in the exchange so I never keep coins there for a long time.

It depends on the fame of the platform and the number of stolen bitcoins.
In the past, Bitcoin/cryptos were limited, so any process that leads to a medium-term decline in the price.
At present, with multiple platforms, cryptos have become more powerful and less affected by this type of hacks, even the biggest one that could affect the price for a limited period of "10 days at most."
I am talking about famous cryptos and not all, some of the shitcoins may collapse if any hacks occur.

I am not really sure how does a security of trading platform works but I am pretty sure that most of them are tighten their security against hackers. If there are trading bots created, there might some bots created to track questionable trades and withdrawals. Once detected, that account will be in quarantine or will be in further investigation. Hackers will get hard time to manipulate the price of an altcoin.

For them, everything is basket. They can get into anything that is available on internet. Right now, as maximum of survives are being granted through internet, you can’t just hide yourself form them. So better is to make strong system and then try out best practices that can save you from any sort of attack. Things are very fine and fair but need to focus on things to make them better.

The first thing it confuses the market, by the bad news. It will directly affect the market with ignorant people. There are also touts of property frauds or criminals infiltrating the system. Put all your money in your pocket. Sadly for them, there will be worthy results.

  The influence of Hackers on the movement of price in crypto currency market is just a small percent, But it creates additional fear factors or Risk factors on investors, although the main consideration that affects the market movement is the Volume of investment made by the investors on crypto currency market. some other indicators that affects the market movement is the ups and down of crypto are the issues confronting Bitcoin like the issues on Banned, and Regulation by the government financial institution whom critical  about crypto currency digital transaction.

Hackers was in anywhere and everywhere so i think this is one of the reason why the value in market was false becausw of in last few months those hackers got a huge amount of bitcoin so we hope that those hacker was eliminate because they are so greedy in money they use ilegal way to earn they don't want to earn fair.

If you are talking about a hacker hack a personal wallet with small amount then it wont have too much affect, but if the hacker is hacking the exchanges or wallet site then the price will got a huge impact, but usually after few weeks the price will recover again  so I will say the hackers impact only temporary and not too affecting the market

Yes of course, specially if they really successfully stole a huge amount of Bitcoin and sell it right away in which it will make the Bitcoin price and the Altcoins market to be  affected to fall down for sure due to selling. Like what happen last months Bitcoin crashes that i don't believed that this was due to big whales manipulation or the real demand is still low but this was due to stolen Bitcoin and Altcoins from Bancor and Korea exchanges that just been sold.

If the sales made by these hackers in large quantities are clear and will certainly affect crypto price movements in the market. Because these activities will affect both selling and buying demand. In addition, news of the hacking will reduce investor confidence so they withdraw their investment funds to crypto and thus investors indirectly follow in the footsteps of hackers to sell the crypto.

Hackers and media criminals target ignorant people. Greedy people are often trapped. Remember the news that needs to be selected to minimize risk. And we need to take measures to protect our assets and limit the potential for fraud.

Yes, we have seen many people on this forum saying that their accounts are hacked and transferred their coins to other addresses. That means hackers not only target big exchanges but they can hack any small amount as well. So we need to be careful about our online activity and protect all our personal data. Don't provide your personal data for any untrusted sites, don't click any suspicious links or don't download things from online which you don't know who has uploaded it and protect your PC with good antivirus software. 

I really believe that they do not manipulate prices more expensive. and for me this should not benefit for them to lose it a whole hour to tear it in, and then to sell it all out. In my opinion, they neglected all the breakers, announcers, and bitcoins in all the baskets, and then it would be like a shopper like everyone else's sell in a market.

Definitely. Any negative news like a trading exchange being hacked brings some dent on the price. It creates chaos and panic and people become nervous and immediately push the sell button. I have never seen a hacking news that didn't affect the price movement, but then again the effect is short-lived specially after the dust has settled and post-mortem reports is published.


Even if the security is being tighten, hackers is one step of the game. Mind you they are very intelligent but its just sad that they used their talent to steal money. I think what you described is the Binance hacked, yes, they immediately halt withdrawals causing the hackers lose money and didn't steal something. But a lot of hacks has been successful in the past.

No hackers don't affect price by selling as they would be selling them gradually in smaller volume and not as a whole.

Overall I feel like the hackers are a low mover of prices and the markets.  Much more devastating or positive to the prices is the media.  This ETF situation is in full out craziness right now.  The hackers are there and you need to be careful but with tight security you can limit the risks. 

I think hackers only increases fear from the people who have only little knowledge about bitcoin. I think their effect is more like with fud. The more hackingincidents there are, the lesser volume we will.have in trading cryptocurrencies. The more people withdraw their money out of fear and stop trading. These lack of movement would only result to leser deman for crypto and thus lesser price.

It is a fiction because hackers do not manipulate and affect on market prices. I know that it happens sometimes that hackers may hack software which serves an exchange but ususally hackers hack and steal digital money which peoples keep in a digital form. Hackers steal not so big amount of money so they cannot affect significantly on a particular market price as well as they do not want to be revealed  so they do not do actions which may be suspicious so they usually do not have an intention to affect on prices significantly not to attract additional attention to themselves.

Hackers influence is highly detrimental as it contributr to thr elongation of the bearish season,when hackers hak they tend to dump the token source into the exchange thefeby reducingbthe value of the token hack. I believe overtime this will be reolve

Hackers do not really affect crypto prices because after all they will look for a lot of profits, it is impossible for them to sell everything below market prices. Most likely if prices skyrocket hackers will sell everything and prices will drop dramatically.