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Bitcoin => Bitcoin Discussion => Topic started by: AXELNetwork on January 29, 2019, 07:32:46 PM



Title: $1.7 billion in Bitcoin stolen
Post by: AXELNetwork on January 29, 2019, 07:32:46 PM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)


Title: Re: $1.7 in Bitcoin lost
Post by: prasad87 on January 29, 2019, 08:18:03 PM
It's probably much more, many hacks happen to reputable companies and they're trying to hide the fact so they can keep their reputation.
The network is secure, but second layers (exchanges, storage services and others) if not made by the right people are always subject to hacking.
And some individuals just don't know how to keep their coins safe despite our constant reminders.


Title: Re: $1.7 in Bitcoin lost
Post by: dewildance on January 29, 2019, 08:33:46 PM
I think we need to do some research here. How much of these lost Bitcoins is on the exchanges. As we know, Bitcoin wallets cannot be hacked by normal means. In my opinion there are very few hacking events due to the use of daily BTC.


Title: Re: $1.7 in Bitcoin lost
Post by: HiDevin on January 29, 2019, 09:49:32 PM
I think we need to do some research here. How much of these lost Bitcoins is on the exchanges. As we know, Bitcoin wallets cannot be hacked by normal means. In my opinion there are very few hacking events due to the use of daily BTC.
It's probably around like the number said in the OP, but I know NiceHash lost a lot of bitcoins too when it got hacked.

If only people knew how to keep their coins in their own wallets then this wouldn't be a problem at all.



Title: Re: $1.7 in Bitcoin lost
Post by: livingfree on January 29, 2019, 10:11:07 PM
Hacking is a popular incident through crypto's and counting them won't make sense because there's still money flowing to the market. And what'swith those youtube videos that you've been including with your every post?

What's the point of telling that there's $1.7B lost because of hacks? the banks has the most lost when there are hackers penetrating to their clients and steals money out of their own funds on cloud.


Title: Re: $1.7 in Bitcoin lost
Post by: AXELNetwork on January 29, 2019, 10:58:59 PM
Hacking is a popular incident through crypto's and counting them won't make sense because there's still money flowing to the market. And what'swith those youtube videos that you've been including with your every post?

What's the point of telling that there's $1.7B lost because of hacks? the banks has the most lost when there are hackers penetrating to their clients and steals money out of their own funds on cloud.

The videos offer an easy explainer on the subject to inform viewers. It's important to point out just how much has been lost in crypto hacks in recent years.


Title: Re: $1.7 in Bitcoin lost
Post by: c_atlas on January 30, 2019, 01:30:24 AM
$1.7 billion of CRYPTOCURRENCIES have been stolen since bitcoin came into being. Not $1.7 billion of BITCOIN.

How many $ worth of paper notes do you think have been stolen since they introduced cash? How many $ have been stolen as a result of credit card skimming?

The overwhelming majority of bitcoin theft has been due to exchange hacks, it's well known that if you don't own your keys, it's not your crypto.

Some examples of that:
Mt Gox lost +$480 million bitcoin (Source) (https://www.bloomberg.com/news/articles/2014-02-28/mt-gox-exchange-files-for-bankruptcy)
Bitfinex lost +$70 million bitcoin (Source) (http://fortune.com/2016/08/03/bitcoin-stolen-bitfinex-hack-hong-kong/)

Also NiceHash lost $70 million bitcoin (Source) (https://money.cnn.com/2017/12/07/technology/nicehash-bitcoin-theft-hacking/index.html?iid=EL)


As for other cryptocurrencies:
CoinCheck lost +$530 million NEM (Source) (https://www.reuters.com/article/us-japan-cryptocurrency/japan-raps-coincheck-orders-broader-checks-after-530-million-cryptocurrency-theft-idUSKBN1FI06S)

BitGrail lost +$150 million Nano (Source) (https://cointelegraph.com/news/strange-twists-and-turns-of-nano-and-bitgrail-since-the-150-mln-hack)

My point isn't just that it wasn't solely bitcoin that was stolen, but more importantly that these thefts, for the most part, occurred due to SecOps mistakes of centralized companies (most of which are exchanges). Sure there's malware floating around that might change a btc address when you copy/paste it, the solution is don't manually enter addresses, use a QR code or nfc or something else. Also stop storing crypto on exchanges and assuming it's safe, look at what happened to Cryptopia the other week. This will keep happening until people learn to store their crypto in addresses that they are the sole owners of. If everyone stored their crypto properly and stopped storing them in honeypots, we wouldn't be hearing about this all the time.

Exchanges are great, in fact, they're essential, but they're not banks, so don't store your crypto on them unless you're okay with losing it.


Title: Re: $1.7 in Bitcoin lost
Post by: CryptoBry on January 30, 2019, 02:00:07 AM
It's probably much more, many hacks happen to reputable companies and they're trying to hide the fact so they can keep their reputation.
The network is secure, but second layers (exchanges, storage services and others) if not made by the right people are always subject to hacking.
And some individuals just don't know how to keep their coins safe despite our constant reminders.

The problem is not with Bitcoin but with many platforms keeping Bitcoin especially the many exchanges who could not keep up with the security challenges which hackers are always exploiting. There must be standard along this line and maybe some certification so we know that an exchange is doing what they should be implementing along the security concerns. It is quite sad that with cryptocurrency, we are becoming the big paradise for hackers and scammers because these people find this industry more lucrative and easier to break. I am wishing for the time when these scammers and hackers can be stopped.


Title: Re: $1.7 in Bitcoin lost
Post by: Pumared on January 30, 2019, 02:21:09 AM
I think a lot more has been stolen. So many Exchange and ponzis around the world that were never "accounted for" and that no one bothered to speak. These Robberies happen every day.


Title: Re: $1.7 in Bitcoin lost
Post by: encycrypto on January 30, 2019, 02:22:13 AM
Please put the word "billion" in the title


Title: Re: $1.7 in Bitcoin lost
Post by: Malam90 on January 30, 2019, 03:28:51 AM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)

Only $1.7M stolen !! I think it is more than that you have said and referring from this video. Hackers are always trying to hack Bitcoin but Blockchain wallet is normally not hackable but if you do any fault, your wallet may be hacked.


Title: Re: $1.7 in Bitcoin lost
Post by: c_atlas on January 30, 2019, 03:40:24 AM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)

Only $1.7M stolen !! I think it is more than that you have said and referring from this video. Hackers are always trying to hack Bitcoin but Blockchain wallet is normally not hackable but if you do any fault, your wallet may be hacked.

You said $1.7M even though you quoted the OP and it says $1.7 billion


Title: Re: $1.7 in Bitcoin lost
Post by: marcbitcoins on January 30, 2019, 03:49:05 AM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)

This is one of the reasons of why Bitcoin price and the whole crypto market plummet as we cannot expect that the hackers will hold their stolen cryptos for good but they will surely will sell those assets for cash immediately making the price of the market to crash. This is constanly happening since the beginning but still it seems that the exchanges ignored it or the hackers are just talented enough to bypass the exchanges defense.


Title: Re: $1.7 in Bitcoin lost
Post by: pooya87 on January 30, 2019, 03:53:01 AM
you have got two things wrong here, first that these coins are not lost, they are stolen or hacked. second is that the value is mostly a guesstimate specially since price has been going up constantly and last time i checked they weren't doing a good job calculating the USD value of the total stolen amount based on the price change.

in any case this proves once again that you should not trust exchanges because they are either weak and are going to get hacked or shady and are going to scam you themselves


Title: Re: $1.7 in Bitcoin lost
Post by: romero121 on January 30, 2019, 03:55:43 AM
As bitcoin is completely dependent on internet connectivity, hackers find it an easy way to try the hacking tricks. In another use case, this being decentralized even a small bug leads to freezing of funds. It's highly risk involved and to the same exchanges and the blockchain networks were developing the security system better. Beyond this when something takes place we cannot blame the developers and the team. It is our fate to lose.


Title: Re: $1.7 in Bitcoin lost
Post by: ice18 on January 30, 2019, 04:52:02 AM
Not only hacking many ICOs are fake collected millions of money we cannot really conclude that most of this are really cause of hacking what about inside job? Some exchanges cannot provide liquidity to users and they are forced to close the service, some pretended to be hacked no one knows. 


Title: Re: $1.7 in Bitcoin lost
Post by: eann014 on January 30, 2019, 04:58:10 AM
Bitcoin is hacked before but I think bitcoin is more secure now. I dont know how hackers hacked bitcoin before and they get millions of $ before but we can secure our own bitcoin with some other ways if you are holding huge amount of bitcoin today, you can save it in a safe storage so you will not lose your bitcoin and hack by hackers


Title: Re: $1.7 in Bitcoin lost
Post by: r1s2g3 on January 30, 2019, 05:17:12 AM
There are so many unreported thefts , and many personal thefts that are discussed in various forum but never accounted in any official report. The number can go much higher. As already pooya pointed, there is difference between the lost vs stolen. these all are stolen coins.


Title: Re: $1.7 in Bitcoin lost
Post by: jubilarian on January 30, 2019, 05:20:24 AM
$1.7 billion of CRYPTOCURRENCIES have been stolen since bitcoin came into being. Not $1.7 billion of BITCOIN.

How many $ worth of paper notes do you think have been stolen since they introduced cash? How many $ have been stolen as a result of credit card skimming?

The overwhelming majority of bitcoin theft has been due to exchange hacks, it's well known that if you don't own your keys, it's not your crypto.

Some examples of that:
Mt Gox lost +$480 million bitcoin (Source) (https://www.bloomberg.com/news/articles/2014-02-28/mt-gox-exchange-files-for-bankruptcy)
Bitfinex lost +$70 million bitcoin (Source) (http://fortune.com/2016/08/03/bitcoin-stolen-bitfinex-hack-hong-kong/)

Also NiceHash lost $70 million bitcoin (Source) (https://money.cnn.com/2017/12/07/technology/nicehash-bitcoin-theft-hacking/index.html?iid=EL)


As for other cryptocurrencies:
CoinCheck lost +$530 million NEM (Source) (https://www.reuters.com/article/us-japan-cryptocurrency/japan-raps-coincheck-orders-broader-checks-after-530-million-cryptocurrency-theft-idUSKBN1FI06S)

BitGrail lost +$150 million Nano (Source) (https://cointelegraph.com/news/strange-twists-and-turns-of-nano-and-bitgrail-since-the-150-mln-hack)

My point isn't just that it wasn't solely bitcoin that was stolen, but more importantly that these thefts, for the most part, occurred due to SecOps mistakes of centralized companies (most of which are exchanges). Sure there's malware floating around that might change a btc address when you copy/paste it, the solution is don't manually enter addresses, use a QR code or nfc or something else. Also stop storing crypto on exchanges and assuming it's safe, look at what happened to Cryptopia the other week. This will keep happening until people learn to store their crypto in addresses that they are the sole owners of. If everyone stored their crypto properly and stopped storing them in honeypots, we wouldn't be hearing about this all the time.

Exchanges are great, in fact, they're essential, but they're not banks, so don't store your crypto on them unless you're okay with losing it.


Yeah, this information is clear more. $1.7B includes other altcoins/ tokens. We can see that almost the money has been hacked from the exchanges. So I think we should store coins/ tokens in hardwallet or private wallet. That looks safe more.


Title: Re: $1.7 in Bitcoin lost
Post by: piebeyb on January 30, 2019, 07:17:59 AM
I've also discussed this on my YouTube channel about where there will be a lot of hacking on exchange sites in 2018 and early 2019, so the video looks normal in my opinion, just saying a little that history always repeats with the same purpose  :-*


Title: Re: $1.7 in Bitcoin lost
Post by: coinwizard_ on January 30, 2019, 07:36:48 AM
These exchanges should know that there have been many hacks in the past and that cold storage is a must. Minor hacks on hot wallets can be somewhat tolerated, but not multi million dollar losses


Title: Re: $1.7 in Bitcoin lost
Post by: bit-freedom on January 30, 2019, 09:03:35 AM
That is a huge amount. IMO, hackers will try to hack anywhere that has money. And crypto is a good target since it is easier to hack an exchange than bank. This is why we have to be careful and don’t store our coins in the exchanges.


Title: Re: $1.7 in Bitcoin lost
Post by: Magkirap on January 30, 2019, 01:27:12 PM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)
Every year we experience big losses but the losses happen when some hackers stole our bitcoin. We really need to secure our funds and cryptocurrencies because once they hack your wallet there is no chance that you will recover it. For our security do not keep your cryptocurrencies in a exchange and its better to put it in a wallet especially hardware wallet.


Title: Re: $1.7 in Bitcoin lost
Post by: kryptqnick on January 30, 2019, 01:58:57 PM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)
It sounds like a shit tone of money, but it doesn't mean that the banks do a better job. He says that should protect the money as good as banks, and they probably do. It's hard to compare, of course, as the total amount of bitcoins is far less that the total amount of fiat. If we compare only the stolen sums, though, then banks lose more of people's money than crypto wallets do. You're saying that 1.7 billion dollars were stolen in 10 years. Take a look at this 2015's report about malware: https://money.cnn.com/2015/02/15/technology/security/kaspersky-bank-hacking/index.html. Approximately 1 billion was stolen because of it just as a part of a single complex attack! Take a look about this article on 16 billion dollars stolen in a single year: https://www.cnbc.com/2017/02/01/consumers-lost-more-than-16b-to-fraud-and-identity-theft-last-year.html.
People need to be more careful with their passwords and private keys is all I can say.


Title: Re: $1.7 billion in Bitcoin lost
Post by: santiPOGI on January 30, 2019, 04:49:16 PM
Mostly, they are reporting a lost if the bitcoin value is relly big but there are so many hacked account who were not reported.
There are so many hacker in this world and i think everyday has a victim. we should be more careful on what we are doing.


Title: Re: $1.7 billion in Bitcoin lost
Post by: proTECH77 on January 30, 2019, 04:50:11 PM
It would have be a good ideal if more research could be done solely for the purpose statistical data on stolen bitcoin by hackers from exchanges and also, for individuals whose hacks are well known to the public. This will enable us know the exact worth of bitcoin stolen.


Title: Re: $1.7 billion in Bitcoin lost
Post by: 3core on January 30, 2019, 04:55:36 PM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)

This is one of the reasons why cryptocurrencies is seeing less new investors, they are afraid of falling victim to cumbersome loss due to the slightest breach of security, they will instead pay a fee to have their money secured by their various ginancial institutions.


Title: Re: $1.7 billion in Bitcoin lost
Post by: susuberuang on January 30, 2019, 05:09:39 PM
a lot of people are careless and can lose their assets as much as it is a mistake of their own who cannot maintain their assets as well as possible, they are too curious to press a number of buttons that might have been set so that he becomes a victim of such hackers.


Title: Re: $1.7 billion in Bitcoin lost
Post by: drumamat on January 30, 2019, 06:25:23 PM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)
Yes, it is a huge amount. It is a pity that such situations occur, but it was obvious. Hackers could not simply bypass such an industry.Most likely, we will witness an even greater number of Bitcoin thefts. Industry is developing, hackers are developing.


Title: Re: $1.7 billion in Bitcoin lost
Post by: kingpin4321 on January 30, 2019, 07:37:15 PM
This would go down as one of the numerous times hackers has attacked and made away with huge amount of bitcoins and this goes to rise the rate of security measure.
Hackers are modifying there plans and so we also have to follow suit to avoid this menace


Title: Re: $1.7 billion in Bitcoin lost
Post by: ralle14 on January 30, 2019, 08:23:34 PM
You should edit the title of the thread and replace the word lost with stolen because these cryptocurrencies are still in circulation. If the hackers had a plan of losing the coins they should be sent to a burning address or make their own proof of burn but there's no reason for them do that.

hackers are developing.
If hackers are developing then the exchange's security will also be developing. It can increase but you don't see a lot of exchanges get hacked mostly it's an inside job or exit scam.


Title: Re: $1.7 in Bitcoin lost
Post by: livingfree on January 30, 2019, 10:30:13 PM
Hacking is a popular incident through crypto's and counting them won't make sense because there's still money flowing to the market. And what'swith those youtube videos that you've been including with your every post?

What's the point of telling that there's $1.7B lost because of hacks? the banks has the most lost when there are hackers penetrating to their clients and steals money out of their own funds on cloud.

The videos offer an easy explainer on the subject to inform viewers. It's important to point out just how much has been lost in crypto hacks in recent years.
But I won't watch it.

Why companies can't make a good security system. I'm not a developer, but still why??? It doesn't matter fiat or crypto hackers are everywhere
Its due to the drought of their budget. They can't improve their security because of money, it's the first and main reason why some companies aren't willing to upgrade their security because of its cost. Security is the most expensive thing next to the system of the company itself. Next, they really has a weak security which made them confident before and didn't thought of such scenarios might happen.


Title: Re: $1.7 in Bitcoin lost
Post by: A L I E N on January 31, 2019, 04:58:00 AM
Please put the word "billion" in the title

We do not  understand anything at all. I was thinking about the other number. Please, more clear when you write down your thoughts. People simply do not understand anything at all.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: ethereumhunter on January 31, 2019, 05:11:14 AM
Many exchange market have hacked and make about $1,7 billion bitcoin stolen, last time we got information about cryptopia exchange was hacked and become more sadness about how bitcoin and altcoin price at the future, will be drop or not.

If we talk about the exchange market, then it means, the exchange needs to secure their websites from any attackers. And if they can not protect their websites, then I am sure their member will leave the exchange and will find the other exchange. I think the problem was in the exchange and not in the personal because we heard any news that says exchanges get hacked and that is their jobs to make sure they can protect their members.


Title: Re: $1.7 in Bitcoin lost
Post by: squatter on January 31, 2019, 06:17:56 AM
These exchanges should know that there have been many hacks in the past and that cold storage is a must. Minor hacks on hot wallets can be somewhat tolerated, but not multi million dollar losses

Indeed, at the very least only a very small percentage of funds should be held in hot wallets.

I'd prefer to see exchanges treating security like Bitmex: Full cold storage requires that withdrawals are not be available on demand. Withdrawals should be queued and manually withdrawn from cold storage. It's inconvenient, but when you consider past hacks were all hot wallet compromises, it makes sense.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: Blockchainer06 on January 31, 2019, 08:24:45 AM
The world is changing, and the digital world is more and more close to the lives of the public. Everyone's money, information and information are more or less equivalent to being stored on the network, while the frequency of cybercrime is more and more frequent and intensive. What a terrible problem it is that our assets and personal information can be leaked at any time.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: Inosend on January 31, 2019, 09:19:56 AM
The rate at which criminal are stealing from cryptocurrency now a days is really alarming something has to be done


Title: Re: $1.7 billion in Bitcoin stolen
Post by: Jocuserious on February 03, 2019, 07:09:24 PM
Actually we need to do something good reason,how we can save our wallet.i think many hacker have in the market,and their always attack our (Exchange,bitcoin holding) everything.so we need use strong password,hide every information about our wallet. don't give us personal key,and mail account.then hacker will do not hack our money.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: cizatext on February 03, 2019, 07:47:33 PM
$1.7 billion bitcoin being being stolen since the advent of bitcoin that is a huge amount but my contradiction is is this total some the whole of the hacks that have happen to companies and exchange site's, because if it doesn't then the statistics is not yet correct their have being huge loses in the pass involving major exchanges both in bitcoin and all the other altcoins.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: Halmater on February 03, 2019, 07:51:43 PM
That's a huge amount of Money and I don't know whether it is true or not. Even if this is true, people may have a difficulty to believe this.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: Ipwich on February 04, 2019, 06:04:51 AM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)
I did not know it's that small, I think with a lot of hacks happening int he past, it could be over that value.

Looking bad but that's what happen since we are still new and we keep developing, what's important is that hack has reduced as crypto continued to exist.
Nowadays, people already know that exchange are vulnerable to hacks, so they're smarter to store their money in hard wallet and avoid storing it in exchange for longer period. This is just part of the history, and it brings a lot of leanings to us.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: boyptc on February 04, 2019, 06:42:13 AM
That's a huge amount of Money and I don't know whether it is true or not. Even if this is true, people may have a difficulty to believe this.
It's true, computing all of those hacking incidents it will result to that amount and even bigger than that.

For the past years when crypto starts to boom, there's a lot of exchanges that were hack and assuming the total amount you really can't believe if that's a real figure but you have to believe that there's big money that were hacked.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: NorrisK on February 04, 2019, 06:55:27 AM
I may have been worth 1.7 billion at the time of the hackings, the dumping of these coins would significantly reduce the market value. Just look at what happened to XEM after the big hack. It dropped from 2 USD to around 0.3 USD during the dumping.

It's still a lot of money, but the gains for the hackers are probably a lot smaller.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: naufals4 on February 04, 2019, 07:09:42 AM
That's a huge amount of Money and I don't know whether it is true or not. Even if this is true, people may have a difficulty to believe this.
It's true, computing all of those hacking incidents it will result to that amount and even bigger than that.

For the past years when crypto starts to boom, there's a lot of exchanges that were hack and assuming the total amount you really can't believe if that's a real figure but you have to believe that there's big money that were hacked.
i think for some investor $1.7 billion is not much cause right now bitcoin had value $60,833,048,151. so don't panic about that hacker cause in this digital world so many hacker. so for ourselves, it is more important for ourselves to save our data so that it is not hacked


Title: Re: $1.7 billion in Bitcoin stolen
Post by: Siren on February 04, 2019, 07:49:22 AM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)

Though this is alerting but don’t forget that most of the cases involve are human errors means we are the one who is responsible for each hacking because we don’t use precautionary measure and by lack of knowledge about how properly used the internet,phishing sites and malware issues are the common reason ,if we want to prevent this then make your bitcoins more secure an safety


Title: Re: $1.7 billion in Bitcoin stolen
Post by: michellee on February 04, 2019, 08:30:32 AM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)

Though this is alerting but don’t forget that most of the cases involve are human errors means we are the one who is responsible for each hacking because we don’t use precautionary measure and by lack of knowledge about how properly used the internet,phishing sites and malware issues are the common reason ,if we want to prevent this then make your bitcoins more secure an safety

So once again, we need to be careful to save the coins in the exchange or another wallet because we are the owner and we need to give attention about this if we don't want to lose the coins. And if we can secure every wallet or account in the exchange, we do not have to worry from the hacker unless the exchange has a problem with their security. So far, we might see that it's happening in many exchanges and maybe they do not always check their security and searching for a hole or bug so the hacker can penetrate to the database.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: kucritt on February 04, 2019, 09:16:40 AM
yes, recently we saw the news about hackers, about people that hack the exchanger or hacking the wallet apps, and i think that it will be the lesson for the developer that develop the application, they should work harder to fixing the bug because it ill makes the bad future for bitcoin


Title: Re: $1.7 billion in Bitcoin stolen
Post by: Lizzylove1 on February 04, 2019, 11:53:12 AM
For every friend I know, none of their bitcoin private wallet has ever be hacked except one that gave his younger brother his private keys. It's obvious that some exchanges don't invest much on security and this is a big concern for investors and the government, as much of these hack cases are exchange related. I hope this is handled in the near future,


Title: Re: $1.7 billion in Bitcoin stolen
Post by: Johnzky on February 04, 2019, 12:19:14 PM
I may have been worth 1.7 billion at the time of the hackings, the dumping of these coins would significantly reduce the market value. Just look at what happened to XEM after the big hack. It dropped from 2 USD to around 0.3 USD during the dumping.

It's still a lot of money, but the gains for the hackers are probably a lot smaller.
This is not just today or yesterday,the amount indicated is for the whole bitcoin span in this community though I believe that this is only those recorded hacks not to mention the non reported incidents in which the victim don’t know how to address his concerns or some are in regards altcoins but still hacking issue


Title: Re: $1.7 billion in Bitcoin stolen
Post by: shesheboy on February 04, 2019, 12:38:54 PM

i think for some investor $1.7 billion is not much cause right now bitcoin had value $60,833,048,151. so don't panic about that hacker cause in this digital world so many hacker. so for ourselves, it is more important for ourselves to save our data so that it is not hacked

the said amount is already billion . we cannot disregard that event because that can affect the value of btc badly  . what i dont understand is why there were too many hacking hacking incidents happening lately  ?  hmmm ? is this a sign of something bad ? lets hope not  .

That's a huge amount of Money and I don't know whether it is true or not. Even if this is true, people may have a difficulty to believe this.

true or not true , this is something that is believable because hackers mainy attack crypto exchanges and bigtime accounts . they can stole much more money than that  .


Title: Re: $1.7 billion in Bitcoin stolen
Post by: fileo on February 04, 2019, 04:17:42 PM
It is unstoppable attack once the programs was interrupted by the hackers. I am not worshiping them but the fact can tell us about how genius they are by hacking the secure system. It is unexpected amount but we cannot retrieve that lost. The best thing to do now is to create new anti hacking program in order to minimize the damage.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: deisik on February 04, 2019, 06:51:50 PM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)

That's not a surprise

As that's what you should expect from a poorly designed system which has no built in protection against hacks or thefts. I understand that no one may have expected Bitcoin to turn such a huge success (e.g. we all remember Linus Torvalds and his famous "just for fun" thing), but this is no excuse for not adding basic, if not to say primitive, options which would make stealing coins a lot harder if not prevent hacks and thefts in the majority of cases


Title: Re: $1.7 billion in Bitcoin stolen
Post by: daarul50 on February 04, 2019, 07:01:54 PM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)

In the digital world, hacking has often been heard. But does the crypto hacking information included in the video above need to be discussed? I don't think this is important because the amount of hacking that has occurred is impossible to return to hacking victims.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: hridoyb on February 04, 2019, 08:14:56 PM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)
its impossible to hack bitcoin or exchanger without user permission. Nowadays hacker send malware or impress to click phishing site and they can access computer and hardware wallet. Another way, hacker always wait for any system bug or maintenance any exchanger this time they hack DNS of the exchanger and stolen bitcoin and altcoin. My account was hacked and lost 200+ coin and 2 eth+ and its almost 40k$ when ether delta hack because they hack etherdelta DNS and stolen asset from the exchanger.


Title: Re: $1.7 in Bitcoin lost
Post by: juragane on February 05, 2019, 02:39:50 AM
I think we need to do some research here. How much of these lost Bitcoins is on the exchanges. As we know, Bitcoin wallets cannot be hacked by normal means. In my opinion there are very few hacking events due to the use of daily BTC.
Bitcoin currency is very safe so it is very difficult for criminals to break into bitcoin deposits, the possibility of missing is by going through several ways, one way that criminals often use is by cheating, giving promises that are very good and always offering big profits, but things like this are usually fraudulent, so the loss of bitcoin is caused by the owner's negligence.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: Romeotom on February 05, 2019, 05:10:39 AM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)
It is possibly, because may hacker have in the Cryptocurrency market.their always try to many ways ,how can hack our wallet.so we need save password strong,dont tell your password for anyone person.and also do it 2FA verification.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: BigBos on February 05, 2019, 05:23:36 AM
I think that many cryptousers forget to think about security. As for me, all my wallets are under strong protecture. Also I have coldwallets, it's impossible to hack them. THink about your security before hackers will steal your money.
well, I always see this on an exchanger who was hit by a hacker attack. the munkgin, not the same, but it's similar. I think there are some exhanger who also lose millions of dollars in their assets. maybe their defense is good enough, but hackers are growing fast. it might make us realize that upgrading security systems at all times.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: $anounimus$ on February 05, 2019, 07:25:34 AM
I really hope that the perpetrators of bitcoin theft are not too quick to sell their loot at low prices because it will only make the price worse and there will certainly be more people who lose because prices fall deeper, increase security and don't be too careless with your wallet so that assets remain safe.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: gabmen on February 05, 2019, 03:30:48 PM
I think that many cryptousers forget to think about security. As for me, all my wallets are under strong protecture. Also I have coldwallets, it's impossible to hack them. THink about your security before hackers will steal your money.
well, I always see this on an exchanger who was hit by a hacker attack. the munkgin, not the same, but it's similar. I think there are some exhanger who also lose millions of dollars in their assets. maybe their defense is good enough, but hackers are growing fast. it might make us realize that upgrading security systems at all times.

Mostly it's people's carelessness that allows hackers to steal their coins.  Exchanges are prone to such and whether we like it or not, sometimes good hackers can breach their security. That's why it's up to the users to safeguard their coins. 1.7 billion won't be the final digit for stolen and hacked coins, that's for sure.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: TravelMug on February 06, 2019, 05:31:04 AM
The rate at which criminal are stealing from cryptocurrency now a days is really alarming something has to be done

Of course as a crypto enthusiast, you can really do lot of thing to prevent such hacks or minimized your risk like not putting big amounts of money in a exchange or protect your account at all cost.

But sadly, those hackers are always like two steps ahead of the game so I wouldn't be surprised if the numbers is close to $2 billion already. Just like what happened to Cryptopia wherein big money have been lost and that's just in the beginning of this year alone.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: PlusOne88 on February 06, 2019, 08:16:37 AM
It might be true but bitcoin is still very much secure. I think there might some ways where hacking can be stopped like adding some updates to the bitcoin system. Like for example, If an additional security could be implemented such that transactions can be reverted back to the owner if the bitcoins are identified or reported as being hacked. I think this update if implemented could really help strengthen the trust people had given to bitcoin. We know there are some people who really had bad experiences about getting hacked and this could be one good solution.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: boyptc on February 06, 2019, 09:15:42 AM
That's a huge amount of Money and I don't know whether it is true or not. Even if this is true, people may have a difficulty to believe this.
It's true, computing all of those hacking incidents it will result to that amount and even bigger than that.

For the past years when crypto starts to boom, there's a lot of exchanges that were hack and assuming the total amount you really can't believe if that's a real figure but you have to believe that there's big money that were hacked.
i think for some investor $1.7 billion is not much cause right now bitcoin had value $60,833,048,151. so don't panic about that hacker cause in this digital world so many hacker. so for ourselves, it is more important for ourselves to save our data so that it is not hacked
Do you think that $1.7B isn't really much? even the greatest investor would feel bad for that amount.

Hackers are everywhere as long as there's something that they can benefit with. Back to the amount, $1.7B is hell a lot of money and don't think that it's just nothing for some investors.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: marjil on February 06, 2019, 10:31:20 AM
Firstly, the figure of $1.7b is relative. As the price of bitcoin changes, so does the value of the stolen bitcoin. It might have been $1.7b  based on the date of the video, but that valuation will be fluctuating all the time. As regards hacking, a lot of it has happened on exchanges. Remember Mt Gox. And the rest? We can do something to safeguard against this - don't keep any significant amounts on exchanges. Move your bitcoin, or any other cryptos, to your own wallet. Hackers will always be there trying to hack and steal, it's a fact of life.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: fortunecrypto on February 06, 2019, 10:46:44 AM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)

Wow that are huge numbers and these two groups are not yet caught, this what makes people fear to invest more on Bitcoin, and has been one of our problems ever since, it still haunts us and they can strike again or maybe they already hack some wallet but never reported the figure could go much higher than reported.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: kxz1498 on February 06, 2019, 11:07:19 PM
Variety of hacks, phishing and carelessness all cause stolen bitcoins.


Title: Re: $1.7 billion in Bitcoin stolen
Post by: waitforme on February 06, 2019, 11:38:25 PM
Since Bitcoin launched more than $1.7 billion worth of Bitcoin has been stolen by hackers:

https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be (https://www.youtube.com/watch?v=g5iCx8cY6l4&feature=youtu.be)
Please be glad that the number of stolen Bitcoin still circulates on the existing Blockchain network. Having a large amount of Bitcoin that has frozen off its Blockchain network has reduced supply. Glad this helps us to own it still and glad you are not on the list of people who have  stolen :))