Bitcoin Forum

So If the hackers Stealing from binance  from my account I file report and the binance Will refund my funds immediately?  Right? 
It means SAFU Right?
Is coinbase and other Exchangers do the Same They refund stolen hacked funds immediately?

If hackers target your account and steal your funds due to your lack of security, the exchange is unlikely to refund you.

Well, probably not, remember, exchange is not your wallet.
Take custody of your funds yourself, enable 2fa, and use a good wallet, for example a hardware wallet, this will decrease the chance of you being hacked

To Transfer funds out of Exchanger there is fee!
Why I should transfer funds out and in out and in
I rather trust Exchanger.
But Now days the police track Down Criminals who steal from Exchangers.
But sure If some Get in your account the money must Go to somewhere.
As Exchanger are like bank this how I see this as ajakirjade customer and customer is king!!
So Exchangers want to keep their Good reputation
I Don't think anyone will accept that the hackers Will take from them and Exchanger Don't do nothing?  Sure They do They should refund fully.
And They rather refund then ruin their reputation


Also the cryptocurrency gods is very intetested to keeping customers happy otherwise all people Will just leave the cryptocurrency.

They don't care about you. They only care if a huge part of their funds get stolen (if they lose money of a LOT of customers).

If you lose your money because someone found out your password, you downloaded a malware or clicked a fake link, then you are on your own. Crypto doesn't work like your bank or credit card, where you can file a chargeback report and get your money back. After someone withdrawals your funds, you are screwed.

Scammers and hackers are everywhere, doing what they do best, the steps you take is what either makes you vulnerable to their schemes or gives you an edge over them. My almost one year of experience has thought me never to save huge funds on exchanges. With regards to the series of activities done on them everyday and the fact that some users still neglect warning and store huge funds on them makes it more of a target for scammers and hackers.
When an exchange is hacked, the funds on them are all withdrawn and sold off quite alright. The issue always comes up in terms of refund. The exchange is sure to conduct there investigation and if, your missing funds is not tied to the hack and probably by some negligence you had mishandled your password and transfer codes, your funds is very much gone and u refundable. If it is a proven fact to have been because of the hack, then you can expect a refund.

If your account. I mean your personal account is hacked and your funds are stolen from any exchange even Binance, your funds are gone.
You only get refund if the exchange Itself is hacked and larger amount of customers funds are stolen.

Funny! It's your job to protect your account. Binance already provided security measures through 2FA, you need to use them. If however, your account gets hacked your funds will not be refunded by Binance because it is your fault. Binance will only refund you if it was Binance exchange that was hacked.

Safu is only a PR stunt. It will work until it finally does not. What I mean by that is they are trying to pose as a very safe exchange that has a fund from which they will cover all losses to hacks and you, the client, can stop worrying. They are not like those other exchanges...
The problem is that in case of a bigh hack where their safu fund is unable to cover the loss you're going to be left standing naked in the middle of a busy street in January. Yes, that's how it's going to feel.

This is bad that it happened to you and we all hope you get back what is yours to begin with.

You can try to get your funds this way I believe that Binance will take care of it.

There are so many hacks from exchanges nowadays it is starting to become normal for this to happen.

If a hacker steals a few accounts worth only $ 100 million back then a refund will happen because the exchange will do everything to get money back through their business. If a hacker takes away an amount of between 500 million dollars to 1 billion dollars, the possibility of a refund will decrease. I don't believe they have the credibility and money in their reserve fund to make sure the first home payoff happens.