Bitcoin Forum

We all know that a few days ago South Korean Exchanges Bithumb hacked an estimated loses $ 31.5 million worth of crypto currency. I think Bitcoin Security should be more complicated.

What do you think?

https://www.theguardian.com/business/2018/jun/20/south-korea-bithumb-loses-315m-in-cryptocurrency-heist

In crypto currency world are full of risks.
Do not considered it as 100% safe, there are always possiblity that it can be hacked again.

this has nothing to do with "bitcoin security" it is about the "exchange security" which is basically a "website security" thing. and this is already old news and not to mention one of the most common news for a couple of years in this business. whenever you go on an exchange there is a chance that it is going to get hacked that day which is why everyone keeps repeating you should never leave your coins on exchanges and also this is why the Decentralized Exchanges are gaining popularity.

Yes, bitcoin security should be more complicated in my opinion. But in the bitcoin world, hackers will always exist, no matter how safe it is, No system is safe.

This is the news bro. Every day or weekly once I see these kind of news but where is the transaction ID of amount left from the main wallet mate. You need to share the news along with that means we can believe amount is hacked.
With the news itself we cannot consider this is true news about hacking.
Then avoid these kind of negative news to share here or anywhere mate. It will be negatively shown out then.

What!!!???

Bitcoin is secured. It is the exchange that needs a buff bodyguard on their midst.  ;D
Bitcoin stays as it is. If bitcoin was the one stolen from the exchange then it is the exchange fault and not bitcoin.
This is really funny. Please go deeper into reading more about bitcoin and refrain from creating this kind of threads.

We enter the crypto market always put security on top. I think that is the main factor you should learn from the beginning. I believe the market will take away all of you if you are not secure.

This is not about unsecured crypto currency systems, each exchange certainly use a high security system, so it can make all owners of assets in the exchange can be comfortable. In the world of internet network no matter how much security you have will always be hacked, I mean there will always be people who know all aspects of our secrecy. For instance, we have gmail account can be sure someone working in gmail will know everything that is in our gmail account.

As other people have mentionedn the Bithumb hack has nothing to do with Bitcoin itself, Bitcoin is probably the most secure cryptocurrency in the world as it's the one which has been under the most scrutiny from developpers from all around the world, which has been the most intensively tested and which has the more hashing power from large mining operations.

I think nothing is never 100% safe but Bitcoin value would be much lower if there were any doubt about its security.

You are preferring bitcoin security to exchange security which isnt really right at all and you are truly misleading newbies even more trying to read up this post.
I would tell you they are different and since you are talking about hacked exchangers then it has nothing to do with bitcoin security itself.
The thing should be focused on on how those exchange would secure out their site and the wallets attached to it.

Crypto exchanges get hacked because of their lack of security, not because of bitcoin's lack of security. Bitcoin is cryptographically secure enough. To actually do harm to bitcoin(BTC itself, not exchanges, not wallets), people would need significant amounts of funds, not just skills.

if bitcoin wants to retain consumers, this should be the subject of study, the bitoin minds how to make consumers feel safe as users, because if this continues it does not close the possibility of fear and which eventually leave bitcoin.

It's not in any way related to Bitcoin.It's the exchange in question responsability to protect their hot wallets and not let them without protection on servers.Bithumb isn't the only one that got hacked,for instance,Bitgrail also got hacked for 12m nano coins (Worth 35 million $ considering nano's ATH) but honestly Bitgrail didn't look professional at all,it was evident that a similar problem would happen especially at the time where all cryptos were skyrocketing

I want to believe the best, but I can't. The fact is that,together with the improvement of the protection of exchanges, the methods used by hackers are also improving.Progress does not stand still neither for exchanges nor for hackers. Hackers get millions of dollars, so their technical training is also constantly growing.

I think that at the moment you can see that the market is fluctuating continuously and bitcoin prices are constantly adjusting, I think the information related to bitcoin will be able to greatly affect the crypto market. . You can see that every Bitcoin transaction is anonymous and absolutely confidential and is not under government control so it is very difficult to deal with a bitcoin problem.

I think it's safe, because bitcoin users do not violate the rules, and managers often surve bitcoin users.

Bitcoin security depends on how you protect your bitcoin to any hackers out there the exchange itself is low security that is why they hack but the bitcoin for me it is safe but its still depends on you if you want to make your bitcoin safe better to use a wallet that only you have the ability to get your private keys and control your wallet and always make sure to put any 3rd layer of security like adding encryption or password to your wallet. 

Since bitcoin exchanges is an online exchange like the other said everywhere is risky so don't save your bitcoin too long in exchanges so that you can minimize the risk of your bitcoin and other cryptocurrencies.

See this types of risks can't be controlled no matter how much money you spend on it, till now every single major exchange has been hacked regardless of their trading volume or any other mean which makes it a high volume exchange.
The only good thing is because they have huge volumes repaying customers isn't a big problem for them as they make billions a month

Securing a Bitcoin exchange can not be said to be very safe because there are still many loopholes to commit a crime, it may still be in the development stage of security then a little patience is not that easy for you to think about, especially better at putting your intent Being talked about, Bitcoin is very safe and maybe you mean exchange site, very simple but I really like to see in detail, back again do not you panicked for this news keep investing because it will not be long again this will be very good.

Are you talking about manipulating the market? If so, then even that aspect won't be harming Bitcoin in any way. Bitcoin's market has grown to such extent that any form of manipulation to actually harm Bitcoin has barely any effect without affecting the manipulator itself. Currently there are enough large players out there to buy up the market if it dips under certain important levels, which basically means that manipulation has to occur within a certain range. Bitcoin hasn't ever been this strong and we can be proud of that. I'm totally not surprised by how people think something happened to Bitcoin while it was just the exchange that got hacked. The mainstream media puts plenty of effort in making Bitcoin look bad, because they know most people here are gamblers not understanding the technology....

The one that were hacked was the exchange itself and not the bitcoin itself.

Security of the exchange must be improved but if a hacker focused too much on their goal and spend time on it, they will really have a chance to breached the system by any means even how secured and well maintained the security is. Again, "FOCUSED". Cryptocurrency is no doubt one of the most targeted now by the hackers for an obvious reason.


Not literally leaving their funds but for a trader, it's really necessary to just leave their funds on an exchange so that they won't missed an action. They understand the risks here that's why it can be only applied to those big exchanges. I see nothing wrong about it.

Anyways Etherdelta is not a good example here.

I will advise that more security tokens should be build on blockchain technology in other for us to develop some security that can fight hackers and others criminal activities.  
The exchange should spend time in developing they project in other to safeguard and build investors confidence as many people are afraid of living their fund at exchange because of scam.

I think, after all this time, that bitcoin is safe software-wise; it's only as safe as the practices of the people using it though.

Other bad news from the exchange site. And this is a warning for traders to be more cautious in choosing exchange sites and always send back our coins to our own wallets if we already finish with our actions in exchange sites. The security hole exists on the exchange site, Bithumb in this case.

Bitcoin is very secure and strong now compared to a couple of ears ago. It's about centralized exchanges secrity state, not BTC itself.

In all thefts and hacking, it's not the crypto currency that is to blame, but the exchanges where people keep all their money. Be smarter and keep your money on official crypto currency purses and then no one will steal anything from you.

Bitcoin will never be safe until the exchanges and other points of weakness step up their security game. The protocol itself is pretty much unhackable but privileged parties operating between the user and their coins are often vulnerable, unfortunately, sometimes by design.

It's not about Bitcoin's security getting compromised. This is just exchanges letting their guard down and getting hacked. So it has absolutely nothing to do with Bitcoin or its security. What we all should be more concerned about is the exchanges we do keep our funds and how tight their security is. Bithumb for instance, didn't had that covered.

Bitcoin security or cryptocurrency security will be only safe depending on the market who is holding the coins so you should always look at the reputation of the exchanger before investing or placing your coins in their market.

it all looks like a planned action. I don't think it's really that simple. about hacking-do not break the wallet itself, and accesses to it. this different things

Nothing is 100% safe, most people even those who use very complicated encryption and storage methods for coins are obsessed now.