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2019 is yet to experience a massive bull run, however, but it's already beginning to look like the year of the hacks for the crypto community. Hackers have proven to be no respecter of exchange size and reputation with the latest attack on the binance exchange.
Before the hack on binance which saw the hackers taking off with crypto worth 40 million dollars,  the crypto community has previously experienced hacks on coinbene and cryptopia exchange with both parties refusing to state the level of damage and value of crypto assets stolen by the hackers.
The question every crypto enthusiasts should be thinking now is that if hackers can still penetrate almighty binance with all their claims of having the best cybersecurity measures,  is any other centralized exchange safe? What if the binance team didn't have SAFU funds to cater for situations what would have been the fate of affected traders on the binance platform?.
While I leave the floor open for comments and suggestions regarding the subject matter, I would like to quickly chip in that this is a wake-up call for crypto enthusiasts and developers alike. The growing prominence of blockchain technology and crypto will make it a threat to more attacks in the future, and if measures aren't put in place,  this hackers may cause irreversible mayhem to the crypto community in the nearest future. A switch to decentralized exchange with support for multiple blockchains is the best option on my mind right now.
Feel free to share your thoughts and opinions on the topic.

Although am not the biggest fan of the binance exchange I truly sympathize with the team at this moment.. Most people have questioned the operation of decentralised exchange in recent times,. The absence of liquidity and the difficulty level it proposes to users.. I expect the binance team to learn from the hack and develop a world  class decentralized exchange which will be impressive in transaction  performance and also easy to use.. I think the binance DEX will boast of a  good trade volume due to the reputation of the Binance project..

I will like to applaud the binance team nevertheless for there openness. Unlike the other exchange which got hacked lately, binance has shown a level of maturity and transparency by revealing complete details regarding the hack, unlike other exchange. It shows they know what they are doing and have the best interest of traders in their heart.

It's unfortunate things like this keep happening in crypto. Some of us have our entire portfolios on binance which i think is a very bad idea.. Decentralized exchange is the solution to this debacle  caused by hackers. I just hope to see the day when decentralised exchange will rival centralized ones in terms of trade volume.

I will say no exchange is safe, if hackers can still hack Binance with thier high ranked level of security, this is a very big sign for all other exchanges to tighten up thier security and atleast learn nobody is safe from hackers in this space.

It's horrible when you said it's th year of hacking. Why? Exchanges security may be lower and hacker took the chance ro hack. It will be working as an alert for each of the exchange and they will take necessary steps to avoid this kind of issue.

Just like you said, I believe as crypto continue to grow in prominence, so also is the security threat. Hackers are coming up with more sophisticated means of jailbreaking exchanges and wallets.  If the crypto community doesnt design requisite means of mitigating  this issues, it's sad to say we might be overwhelmed by the threat that lies ahead

I said so because the crypto space is yet to even recover from the previous ones and we already have another on our table.. To the best of my knowledge cryptopia platform is yet to restore exchange wallets and digital assets back to traders.. Coinbene still playing cat and mouse with traders..
Although the crypto space has developed to a point where exchange hack no longer have delirious effects on market  valuation, I think if it keeps repeating itself at this pace, it will be bad for the crypto community.

wait a minute do you want to tell us that you believed their claims?!!
this is not the first time a big centralized service exaggerates their "security" when they are trying to attract more customers in a competitive market. and each time they end up being hacked and we realize that their security was not only not-strong but also it was among one of the most primitive and weakest setups.
everyone who has been around for a while knows that you should never trust centralization, whether it is in the form of a centralized exchange or a centralized payment processor or even a centralized altcoin. it will always end badly.

Most of the times, it is inside job. Probably done in collusion with someone who is either a current employee or a former employee. It is very difficult to hack the exchanges unless you get some sort of support from the inside. This has happened to a lot of the exchanges in the recent past, but I am not sure whether it is the same case with Binance or not.

I think it's not a year of hacks. As we can see, we are experiencing a slight run on bulls and I don't hear many rumors about hacks happening.

if discussing an exchanger of course the security system becomes very important to be updated, there is no exchanger that is truly perfect. they always have side weaknesses that can be penetrated by hackers.
so it's not strange if a few days ago a sad thing happened to the Binance Exchange.

Decentralized exchange is better and safer in many ways. However, on decentralized exchanges there is always a small trading volume compared to centralized exchanges, this is their main problem.

There is a widespread concern about the hacking of cryptocurrency exchanges. But only little steps seem to have been taken in controlling it. From time to time we are forced to hear that bad news ever since cryptocurrency was introduced some 10 years ago. But we hardly hear news about the hackers arrested and booked. Why there are such loopholes allowing hackers walk free?

There is  no perfect security system in this world so the intruders will always looking for ways and gaps to penetrate the security system while on the other hand trying to prevent this from happening. That's why binance has reserved amount of funds for this kind of events. So I think as long as the exchange responsible for this occurance it's just fine.
I truly agree this is a critical point that developers and community should find the solution. And still, decentralized exchange that support multiple blockchain is the better option until the main problem resolved.

Exchanges should probably make a union and cooperate with each other regarding security measures and with a united effort they can also trace and catch the hacker and lock his account and funds because if a hacker steals bitcoins from one exchange he has to deposit and sell on anyother exchange wjere he can be caught and funds retrieved.

yes, thats right
but at this moment people prefer to trade in centralized exchange rather than dex,,
maybe because they don't know how secure decentralized exchange if we comparing with centralized exchange my friend
for sure in the future Decentralized exchange will beat centralized exchange

This is technology. Protection may not always be reliable. There will always be one who will solve the riddle and will be able to trade on the exchange. The fact is that it also allows exchanges to grow. Improve protection. It pushes technology into the front.

There is no such thing as beginning to look like a year of hacks. We really can't blame binance for getting hacked. People who lost their funds are also responsible for losing it. Funds staying in exchange sites are not really recommended since exchange sites getting hacked is not something new. Binance did their best when it comes to security and we should also do our best since it is our own money.

IMO, decentralized exchanges are the best solution for secure cryptocurrency trading. But they need more user-friendly, convenient, ease to use interface, so that traders can switch to decentralized exchanges and increase volumes there, so that one can be able to trade there normally. On the other hand, Binance once again proved that it can cope with such situations. I think Binance will be even stronger regarding security after that. In general, it is better to have good centralized exchanges like Binance and user-friendly, convenient decentralized ones with volumes.

The most talked about topic right now in crypto space is exchange hacks owing to the latest hacker poke on Binance lately losing 7000BTC. I saw other exchanges tweeting about being the safest, but that's not it, every exchanges need more and more security upgrades over time. The more exchanges try to tighten their wall, the more hackers look for more advanced means to break in. So in as much as I trade on exchanges daily, I still safe most of my funds in personal wallet.

This has been the issue ever since Mt Gox and we will have to live with it, hackers are getting better they are at it a year long, there's always hacking every year if we are going to move forward, this is something that should be addressed, I guess decentralization is one of the best options but traders are preferring centralized exchanged to decentralized one.

it is not "the year of the hacks" just because one hack happened. we still haven't seen a record yet. this hack was among the big ones but far from the biggest.

this year is the year of bitcoin initial price rise that will be the start of the big bull run of next year. the only question remaining is what will the small bull run bring the price up to. i would say it can be around $10k and then we launch from there towards $100k.

Lol. You made me laugh over there. Yeah, they don't "respect" any exchanges. Isn't it obvious? The more well known and the more big an exchange is, the more they will attract hackers? Believe me or not, right now hundreds of hackers are still trying to find vulnerability on binance which they can exploit.
And no matter how much security they apply, the hackers will eventually find their way inside.

I agree with your opinion about the potential threat to the exchanges without taking into consideration the size, volume, reliability of clearinghouse. After the MtGox hack, the market plummeted down hard and every time hacker moves the Bitcoins market reacts. New security breaches will not let the investors hold their funds online.

The community still consider this as big news because it was done on a big exchange, a sign of relief is they assure traders that all their coins are intact, but what if Binance is not a big exchange, will likely turn off trading and will do maintenance for weeks.

That's not the case, Binance has SAFU not to help the community, traders but to protect itself. It has no such obligation. Better people think about protecting their personal wallets instead of caring about exchanges.

So true, but I question these kind of event since exchanges should have full protected by any threat, I've always doubted exchanges and the security of my coins so I usually don't deposit to any exchanges or sites unless I am going to sell my coin already. These kind of incidents should never happen and to think that most of the exchanges are claiming they have been hacked its too suspicious to me to believe to them, anyways it must've been a horrible I sympathize those who lost their coins.

I don't know if the number of hacks that have occurred this year is higher than in previous years but we have to take into account that there are many more exchanges now so, there are many more places where hackers can go, especially when exchanges themselves sacrifice their security in exchange for the speed of withdrawals trying to attract more customers. As long as centralized custodial exchanges exist, hacks will keep on happening.

This is not the first time exchanges have been attacked, and we will face many more attacks in the future. Decentralized exchanges are safer but it still has many problems to solve

Most of these hacks are just excuses for the exchange owners to run away with funds.  Its just too easy and tempting for these guys to just take money from their customers.

At least Binance is covering their customer losses so no one will be missing any coins.

I think the recent hack on binance will have significant impact on the value of the bnb currency because up until now it appeared like the exchange was impenetrable but this has shown that no centralized exchange is completely safe.. We need better DEX in the crypto space..

It is unfortunate this is happening when the market is showing signs to recovery. It haven stated many times, that irrespective of the exchange, holding funds is not a good idea. At all times, it is advisable to be in control of your funds by storing or saving them in private wallets. Decentralized exchanges might be the best bet as they have proven that traders or users are always in charge of their assets.

I would also like to add to it that not to hold large balances in exchange. Who knows when exchange might get hacked or plot something and coming up with public statement that they were being hacked.

Well this happen sometimes and i think if people will take more measures when they visit a exchange they should always check the links and also they should not download any unsecured or untrusted program, and yes also not to hold a lot of money on exchanges.

Binance issue again? Well friend nothing in this life is impossible and as hacking goes any security can be breached so nothing in this world is perfect just have that at the back of your mind ,to me binance is still just better than the rest

Once again it is worth thinking about where you keep your money. Exchanges are always at risk. So do not udelitsya. There is nothing ideal in this world. Hackers are not fools and will always be able to find a loophole. Once again proved everything is better to withdraw money. Otherwise, it is not known how much they will be able to kidnap next time.

Decentralized exchange total volume is too much lower to compare with Centralized exchange. People always first looking high trading pair than going to trade even most of the time i used DEX. But also i confess with you Decentralized is enough secure from hacked i think.  

Expect things to happen as hackers are just monitoring the market, we should always learned from past experiences that we encountered along the way, there's already a lots of same stories regarding to exchange attacks or wallets been compromised and being sucked by hackers.

If we proceed from the fact that many exchanges that have large volumes have not been hacked for the first time, we can conclude that this is a good opportunity to simply take money from people. I completely agree with the opinion that security is a very complicated thing.

Bitcoin brought about decentralization right? So as to give users power to secure themselves. Centralized exchanges are not in accordance with this, so all the hacks this year have only been targeted to them because the funds are stored with the exchanges. We should be weary of all centralized exchanges and learn how to store our assets in private wallets.

Hacking and Exchange are words that seem inseparable. Because where there is an exchange in the future there is a high probability of hacking. And it depends on how strong the security system is for an exchange. I have never questioned hacking. Because maybe a hacker found a gap to do that. With this case, of course binance will strengthen its security system so that this case will not happen again.

Any system can be hacked, the only question is the cost of this and time. Binans was no exception. The main thing that they learned from this lesson and corrected errors in security. I hope the money for users will be compensated, because for Binans 40 million is a little money.

I am not really a fan of Decentralized exchanges because of its drudgery. However seeing as these exchanges are now a target for hackers, perhaps the crypto market should largely consider Dex exchanges to solve hack problems

Only 40 mil $ were been stolen, it is nothing comparing with the history´s attacks: Mt.Gox and Bitgrail lost around 500 mil $ few years ago.

The issue of hackers stealing from exchange has been in existence since the arrival of cryptocurrency. Most exchange in the past have lost grip of their business after the hack incidence. I do hope that this issue of hackers will be a thing of the past in no distant time because the mayhem of hackers are always drastic.

Rather than continue fixing a system likely to get cracked again why don't we take up a decentralized approach and completely mitigate this problem.. I am expecting a top notch Decentralised exchange from binance... I only wish it supports multi-blockchain.. That would be the best DEX of all time.. 

It's a sad thing to see this incident of hacking happening so many times in the industry and this one of the reasons why we should stop leaving our assets on exchanges. If Binance can be hack, then I don't think there's any exchange that's 100% secure.

Hackers are a big problem for cryptocurrency exchanges. Almost every exchange once came across a burglary. Therefore, I think that it is very important for the exchanges to maximize their cybersecurity.

It's almost impossible to protect exchanges from hackers right now. only decentralized exchanges can be safe but now they are too complicated for simple users

My question is despite the huge money that cryptocurrency exchanges are making especially Binance why are they not insuring their platform like what we can find in the conventional industry, I think the industry is ripe for such and they need to start doing so.

At this juncture I believe everyone now understand that no funds is ever safe in exchanges. Come to think of it, how many have been hacked this year, with the recent being the most "secure".
Once again, funds are never safe on exchanges but only in private wallets, the more we understand this, the better.

In my opinion how great and strong security there must be a gap for that in the case of exchange, you should never store assets there for the long term unless you are ready for an unwanted thing like a hacking case, and also in my opinion, there is no solution because hackers are certainly more advanced exchange owners so prevention can be done is to secure your assets outside the exchange

You are too late to realize year of hacks. Hacking issue has begun since 2018 when several exchanges reported that their funds were stolen. I wish what just happened to Binance is the last of this issue. This year should be the time for Bitcoin to gain its positive trends and not about hacks anymore.

But, the majority of cryptos established on a decentralized system and should continue as it is. So, if we consider that DEXs are a continuation of this decentralized system, it should be. When it will be installed well, centralized ones will not be needed.

Hackers are really experienced, always looking for the least chance to identify a security breach and steal one's resources. It is sad that a good exchange like Binance got hacked. You cant blame them too much, but it should serve as a lesson to other exchanges to strengthen their security ties.

Exchangers such as binance and coinbene should not be hacked because there are many other people's assets, this is the responsibility of the developer because they have to provide services and security
Regardless of what method they will use, they must be able to overcome this problem so that it doesn't happen again because if not, then who will we believe that it is safe?

As you can see, centralized exchanges are not reliable. Let's wait for decentralized solutions with multiple blockchains, as you mentioned. Projects that want to make a decentralized exchange in most cases do not receive support from people or they are one-day projects. And we users use more centralized exchange. Why? Because we need to quickly buy and sell any cryptocurrency. The problem is in us.
Hackers will always be because there are always people who are not careful in their actions.
So be patient and be careful!

I think that Crypto exchanges need to be improved for the current situation in what way I am saying is it need to be trusted by the people more than the previous time because the Storms that damaging the taste changes names that's why I am saying this.

Pending the time crypto community and developers look for a way to tackle this kind of problem, the best approach is to take off your assets from Centralized Exchanges. I do not consider any exchange safe after the binance hack. Hackers are advancing and each crypto user should take the safety of his/her assets serious.

Exchange and hacks have become very related
Especially centralized exchange

So never forget the only way to stay safe is simple
Get a paper wallet, and avoid evil friends

These hackers are very smart and clever, however good the security that the exchange has, but they can still penetrate, but for these hackers it could be that he has more knowledge than the managers of the devices on the exchange so that they can penetrate their security, and  the matter of the funds held by the exchange to replace the assets of the investors inside may they have a reserve fund to replace it, if they do not have it they must owe it to another party to replace it.

You were too late either for the exchange site hacking issue begun in the year 2013 with cex and the Binance will definitely not be the last issue if exchange site don't upgrade there cyber security. However, the only exchange which I have never hear any hack issue about it is coin base.

After hacking the Binance exchange, we can no longer be sure that any centralized exchange can be secure. However, Binance quickly solved this problem and the news of the hacking did not have a negative impact on the market.

Just because an exchange site was said to be almighty doesn't make it truly almighty or actually be the exchange with the best cybersecurity measures as claimed.


Of there are still safe centralized exchange (coin base,kraken) which haven't experience any hacking ever since they start. Kraken ever offers hunt contest to anyone who can find the cryptopia missed fund a couple of weeks back.

Justin Sun have stand for the help of Binance despite the SAFU fund with or without the SAFU funds Justin assistant is enough.

They must always try to update it anytime. The security measure is a thing that will need a lot of money to do that. Remember the fact that with a lot of money and that will be so difficult for some small exchange to cover it.
Binance never think if their security still has a bug and that's it
They must always try to see and watch the transaction in the exchange site to able to find the security breached related to the WD issue. 

Hackers are always there, just waiting the right timing to look for the weak spot of every exchange. Small or big exchanges, they are not free from hackers. It is all about money after all. So every exchange should have the responsibility to update their security every once in a while because softwares or apps are getting sophisticated as time goes by. Their security measures may already be outdated even in few months time. So they need to be always on the lookout for the better one so they will not be left behind.

No where is safe, there have been several exchange hacks these years that needs to be scrutinize to bring out the cause. Many millions have gone away and its becoming rampant. people now don't know what to do. Always let remember any hack of these sort has some negative effect on the market.

No exchange is safe ! That’s just what the whole story tells. You simply know how weak something is when it’s exposed. Take control of your funds and store in a place where only you have access to it. This is simply the best to do.

Hackers are professionals who sometimes should be employed by some of this exchanges, in order to help in fortifying their exchanges security system.
So e of the have trued I that capacity, but the more they do that, the harder the external hackers try.

Hackers haven't been sleeping lately, they have been trying every means possible to make sure they hack as many exchanges as possible in order to take their coin for themselves,  this is why exchanges currently need to upgrade on their security because we might see even more hacks before the year runs out since the price of bitcoin is now becoming so valuable within a short period of time, I think this exchanges should employ white hackers that would help protect their exchange from possible hack.

The alternative methods of big or small exchanges must be prepared for the prevention of hackers. If they do not, then the general investor should be prepared to deal with many losses. And investors will lose interest in investing. It requires a full solution.

Binance told that they were stoling so many dollars because of what? They are smart and professional and they wanted to refund all their losses to their clients or customers. This is why Binance is the top exchange beside the other.s

Bud, every exchange would be top exchange if they got so much volume and traders, you know. And then every exchange will think like Binance, I mean wanting to return users investments. Maybe not all, but probably the most because they would like to be loved and used by the traders.

What if there wasn't SAFU? What then?

The frequent hacking of cryptocurrency exchanges call for concern, it is high time exchanges find necessary security measures that will counter the smartness of these scammers.
decentralized exchange to me isn't the solution, there are cases where decentralized were hacked too. i think the solution is to find a hard to crack security measures.

This proves once again that the best place to store your coins is a hardware wallet. I think if you value your safety and value your money, you will not regret the money for the hardware wallet. Exchanges are suitable only for transactions, not for storage. But if you are a trader, then you should not keep all your coins on one exchange.

I already read that numvber of hacker before. This is very alarming. Imagine that we are only in almost half of the year yet the number of fraud is already huge. I think we really need centralization and legalization. Because hackers are did afraid because there is no law to punish them. I hope crypto world need to innovate their security soecially in mobile wallets.

We are talking about Binance here since they have a great standard on securing their exchanges, but if others exchange hacked again I think the market will panic because they are not confident on other exchanges to do the same thing with Binance. Centralized exchange should be more secured and yet, they are still vulnerable we have to think better now and stop trusting too much the exchanges.

well, as i know a centralized exchange always become the first target of hacker who interested with cryptocurrencies
and because of that, all of us should keep our assets in our personal wallet, maybe a hardware wallet is the best choice my friend

No centralized exchange is safe when you store your crypto currencies there.

We should start using DEX to avoid hacks in future but still it will take time for the adoption will happen in meanwhile Binance also will increase their security measures which can save them from future hack attacks hopefully.

I believe that hackers are able to do a lot of trouble in the cryptocurrency market and spoil the reputation of even the well-known exchanges, it can play a huge role in the growth of the market. Therefore, the transition to decentralization is inevitable, I think it will be a primary goal for many exchanges in the near future and will affect the growth of the cryptocurrency market.

I think it is all a coding and decoding thing and nothing else. They break in and get your data and use it like any other user to get the transfer. Binance has been the best exchange and if it can be hacked, other exchanges should be careful and worried about their own security. We need more secure network to make sure crypto users stay safe and get their trust restored in crypto.

The exchange hack has actually become so rampant and it is not a very good story to tell. I have expected the exchanges to tighten up their security to avoid further security bleach

Not only exchanges should tighten their security, users should do it also. Take a look on recent Binance exchange hack - hackers had stolen numerous amount of users API and 2FA codes.

It will not solve a problem of loss of funds.
In process of growth of popularity of the decentralized exchanges new ways of "hacking" (DNS substitution, hacking of wallet, API) will appear.
The decentralized exchange Waves was cracked in the first day after beta testing
Will steal money from people anyway.

If people are still storing crypto on exchanges, even after reading about all these hacks and seeing how people struggle to fight against exchanges in court and STILL not get their money back, then I think people will never learn.

They know it's bad, but they still do it. They know it's wrong but they can't change their habits. Good world for hackers to live in.

The Binance hack might have come at a wrong time when the crypto market needs more positive news from media houses to push bitcoin to over $8000 but also we must commend Binance CEO and his team on how he has professionally handled the issue to decimate FUDs that might have risen from the hack

These days, with a very number of Scammers everywhere, no exchange is safe to keep your coins anymore so one need to be extremely careful and watchful.

Basically if there is some outside regulation and support going binance have done the right thing, just like in real life, if banks have been robbed they sometimes states a value that is greater than what is taken to them. A good inside job and a good marketing strategy as well. But I am not saying it. Binance is loyal.

Only these days ?  What about before ?  Actually anything online is risky and that includes online exchange . there is no date or time with that because hacking can occur at all times  .  traders/investors have no choice but to trust these online exchange so that they can do their business  .  by using a good quality exchange you can also still reduce your chance of being hacked .

So you assume that hacking cases that happened to some exchanges like Bitfinex have internal interference or have they planned it?
what about binance? I think that every centralized exchange site certainly has a gap to hack, so it's natural that their security system is hacked. But of course it's not an annual activity that always happens.

Bittrex is the safest until now my assets have not been lost, saving in exchange is not recommended we all must be vigilant and the risk has been around for a long time.

if saving our crypto assets in exchanges we need to set our send authentification code,it will make our account more secure privately.but if exchanges totally hacked we could not do nothing in this case.

The only reason why some people are moving to decentralized exchange is because the tokens they have are only listed on such DEX, even with no volume, they are left without option but to trade in that DEX. Hack will always happen even in the platform where we consider to be the most secure one. The only thing that will make it more secure is if we hold the tokens in our own wallet while trading in the open market.

There is no exchange better than decentralized exchange right now. SAFU is the success story or contingency plan for binance and a lesson for other centralized exchanges. Cold storage is also another good plan but none is better than leaving customer's funds in their care. The Crypto Space in my opinion should promote decentralisation in exchanges

In exchange it does not guarantee full security, so traders always make withdrawals after they work in exchange, if I personally better keep it in a personal wallet even though it does not guarantee its security but it is still better than saving in exchange.

Great point, since until now most of those who so called the traders are still relying with centralized exchange, only holders of tokens which still unavailable from centralized exchange are those who are using dex as They don't have any options but to use this existing platform to trade their assets.

You can call me crazy. But there is another possibility which all of you are ignoring now.

What if the recent exchange hacks were inside jobs? For example, now we all know that Bitfinex lost almost $850 million by placing some crazy trading bets with their users' funds. And imagine what would have happened, had they managed to keep this incident hidden. Now the management will think about ways to recover this amount. One of the methods is to claim that the exchange got hacked and the coins got stolen. And in reality the coins will be just moved to one of the cold storage wallets owned by the exchange.

This is a distant possibility, but I am finding something mysterious with all these frequent exchange hacks.

Exchange hacks are still the one thing that hounding the community and even if we want it stopped, hackers are also making progress on how to hack this exchange, yes Binance is such a great exchange, but we have seen it is still vulnerable and we can conclude that it is still not safe to keep your coins to any exchange.

Well, the topic of exchanges and hack is such a hot topic in the crypto world. It is so sensitive that crypto enthusiasts doesn't joke around with. It is at the same time so disheartening that a top exchange like Binance is even susceptible to even this.. Thus, it's a call for all existing exchanges to strenghten  their security.

I have expected exchanges to be security cautious by now and make their system secure to prevent theft reoccurring in the crypto sphere.

This is very bad to all of us who fully support crypto currency as many will surely question the safety of our money in the web.
Plenty of attacks that were happened and the latest is the worst because it is a direct message from the hackers that even if you are the top exchanges with the highest security, they don't care as they can bypass almost anything using their knowledge.

If this kind of scenario will keep on repeating then many will surely stop trading, stop putting some money in any exchange and the worst case is they will stop supporting the crypto currencies in the future.

I think one of the most rigorous hindrances to crypto going mainstream is security concerns. Crypto traders are now more skeptical after the hack of the most trending crypto exchange lately, Binance, doing away with 7000BTC as reported. This is an open call to all exchanges to tighten their security, sort for more advanced security tech and embed on their platforms.  I saw some exchanges brag about being unhackable, you will never know if it's 100% true until they got hit by the bad guys (cyber hackers). Like I saw an exchange saying : get 10$ when you deposit funds from the compromised exchange, referring to binance. That was uncalled for. 

Yes, many exchange just got hacked including the most popular trading platform today which is binance exchange and many of those exchange are the centralized one. I also recommend to use decentralized exchangers but centralized makes exchange regulated. They cannot stop hackers but they can improve system.

No centralized exchange is safe. However, I still think Kucoin is way more better than Binance in term of security. It's not impossible to hack but it will be harder than Binance. They use a lot of security features to ensure 100% secured service.

With this hacked incident, i'm sure Binance will strengthen their security for sure and also all big exchanges will check back their security. Kucoin is good and i'm a kucoin user too, i can see the potential of kucoin to become bigger in the future, that's why i have some kcs token in my wallet.

binance will obviously improve immediately what has happened to the security of their platform. and that is very basic, because security is the main consideration of an exchange. not only binance, now all exchanges must strengthen their security so that what happens to binance does not occur in other exchanges.

Of course the security system needs to be very improved and shielded. Like Binance has been the best exchange out there but despite the fact that it has been the best one, it joust could not stop the transaction in time and in fact there was no way for them to stop it. Getting access to someone’s API keys and 2FA is not a joke and if it is possible for hackers, not just Binance but every exchange should worry about its security.

Decetralised exchanges can be better option but still some exchanges are hybrid it runs on both centralised and decentralised systems.

I think this is also inevitable. Hackers are expert in cryptocurrency blockchain so if there are exchanges that lacks the needed security this will also resulted to hacking. Everyone should know that hackers spend also time and money to steal from massive exchange and done by groups to execute properly. However, problems are those exchanges cannot compete with them. Im not saying this is good but they should treat this as a challenge since we are moving in a decentralizef approach.

It such an unfortunate that a big exchanges like binance being hacked, it shock a lot of people because people consider Binance as a strong and reputable exchanges, exchanges security has been   a heavy focus, many people are worry about this thing, the developers really need to pay attention for this case

For those screaming do not store your coins in exchanges, it is actually the perfect thing to avoid being a victim of such hacks but a lot of times it is not totally avoidable as there would always be coins owned by individual traders on exchanges. No exchange is safe so say but for small traders who would not want to keep withdrawing profit all the time may eventually fall victims. It is quite unfortunate.

First of all hackers should be brought to justice. We can see that hackers and scammers are walking free. But it seems no authority is making efforts to curb and control such illegal acts. Strong legal action will control these crimes. It is obvious that hackers and scammers cannot be rooted out completely. But measures could be adopted to control them and ensure somehow investment security.

that's have to do now.we still see less news about this.most of hacker and scammers still free in the outside there.or maybe this hacking news just a drama to make market panic and crashing?

Have you noticed their recent update with separate balance for trading and main account. I think it's safe since you have to put your PIN for transferring into one to another. I liked it.

Yeah i just checked that and it's a good one, adding more security to our balance. One of the positive point of that hacked incident is Binance is giving more attention to the security of our account on binance. I'm sure binance will become more stronger than before on their security.

I still want to believe that they have not gotten security experts to handle this matter, these are hackers are trained and so as well as security experts are trained to counter them, I have never seen a situation where the bad ones completely overcome the good ones.

Exchanges just need to do more by stepping out of their boundaries in getting well trained security experts that would block all the loop holes that hacker can use in stealing funds from exchanges. If a fund is lost as a result of carelessness either through weak password, it is still understandable, but hacking a whole system is not supposed to be for a very big exchange.

No exchange is safe, if hackers are able to hack binance a cryptocurrency exchange with such level of security then other exchanges are not exception in this hackers threat. I think exchanges should just try and improve on their security from time to time in order to be safe to some extent.

After a huge mistake Binance this topic has become relevant. I think that no one is immune from hackers. Even the huge New York stock exchange. This is the problem of the information age.

I am sure there is no absolutely safe exchange, everyone can be hacked. Hackers always will try to hack everything, different criminal and con will try to steal everything they can. It is not something new no matter crypto or not. Hackers try to hack, companies and crypto exchange work to improve their protection. There are always will be risk, we can't avoid it we have to remember about it.

I agree with you that hacking cannot be completely wiped out, hacking is even legalized for some people, but that must be under oath to work for government & people and not work against them.

Some of these hackers are the ones also fighting hard against other bad hackers in institutions like banks and top security places, so this things can still be avoided in many ways, it is either an exchange spends money to get a very good hacker that will fight back and be able to discover and cover every loop holes, or the crypto user can also avoid it in so many way like keeping fund out of exchanges into a personal private key wallet and many more.

The latest Binance hack has shown that KYC is not safe for users. >10,000 users photos are in the hands of hackers, which can then be used for illicit purposes.
Are any DEXs mainstream?