Bitcoin Forum

Seems hacking incidents this month are really huge! Do you think this is one of the many signs that we are already in the bull run?
Hackers are everywhere and trying to take advantage of a lot of users and volume, especially in Decentralized Finance (DeFi).
I am also curious even we have a lot of hacks this month, market still holding strong.

As you can see, the recent hacks were major in the DeFi market, different platforms or networks.

  If I look at the market right now, it is really bullish; in short, we may be in a minor bull run, in my opinion. Now, in terms of hack issues, this month of November is a bit bad because, of course, several exchanges have been robbed by these hackers.

  That's why yesterday I made a transaction on HTX, and then I noticed that after the address was sent from electrum to the HTX platform, I noticed that the BTC address that is often used in this exchange was different, but I didn't doubt it because I thought maybe something just changed in the platform. So I sent it anyway. After that, while I was waiting to be transferred to HTX, when I looked at my transaction history, I didn't see anything, but I still didn't doubt it because I thought maybe something was being fixed in the exchange.

  But later, after an hour, the transaction on Electrum was completed. When I looked at HTX, I suddenly saw the address that often, when used, suddenly appeared, and my history records on the platform for deposits and withdrawals suddenly appeared. Here it is. I doubted. That's why I found out that I was phished too late. Somehow,  I got about 80 dollars. That's why I said to myself that it is no longer safe to use HTX because it recently had an issue and then yesterday it happened again. It is no longer normal and it is not safe. Lesson learned on my part.

Day by day the trend of this type of hacking is increasing and if the trend of hacking continues to increase then at some point people will turn away from cryptocurrency and trust in cryptocurrency will be lost because many people have lost their many assets and become destitute.

Is there any way to avoid this type of hacking or not, this type of hacking is not actually done by the project team or the exchange team, any hacker actually hacks it ?

Do you know? most hacked is always targeting third-service providers.

The attacker cannot attack a network, because is impossible they always attack a service-platform. You want to avoid these kind of case? stored your coin with your own wallet while you can have fully-control of your asset.

Not stored coin in exchange because "Not Your Key, Not Your Crypto".

For me I don't really think it for the purpose of the bullrun. Reason been that hackers have been hacking for a very long time not only the bullish season but maybe their activities are more frequent these days, making it seems it's for the bullrun.

Sometimes I wonder how these exchanges are careless to the extent of been hacked. Because the kind of money in there custody requires them to secure the wallet by looking for a strong hacker that will also monitor there wallet in case of Crypto hacks.

There are few thing about the size of the hack that I dont believe, It is inflated in my own opinion. Some idea of cryptocurrency is to begin as being unattractive then it get better and people get late. There will be a bull market no matter the challenge, dont ever lose your sight on the goal because of the hack news.

It is really sad to see more hacking happening this month especially in the DeFi market. These kind of incidents show that decentralized platform are also weak and risky. Hackers always try to take advantage of people and money but don't worry these kind of incidents always happen in the market but market didn't show any bad moment. Because the market is still strong because people trust it. When a hacker hacks any platform so he indicates that you platform has a loose point you have to improve it. And now it is  on the platform how much it secure itself from these kind of future hacks. 
If hackers are smart so the platforms also keep their security more strong and when they saw any loose point so they should improve it immediately.

We also don't know when all this will end, will it continue to happen over and over again because there is no perfect system, there are always loopholes for scammers to enter in different ways and the most ridiculous thing is if it was done by them themselves (exchange owners) with the alibi of their site being hit hack.

The recent surge in hacking incidents, particularly in the decentralized finance (DeFi) sector, may indeed be indicative of increased activity and attention, often associated with a bull run. As the cryptocurrency market gains momentum, it attracts both legitimate investors and malicious actors seeking to exploit vulnerabilities.

The resilience of the market in the face of these hacks could be attributed to several factors. One possibility is that the overall confidence in the broader cryptocurrency space remains strong, leading investors to view these incidents as isolated challenges rather than systemic issues. Additionally, the market may be responding positively to the proactive measures taken by platforms and the community to address and mitigate these security breaches.

It's crucial for participants in the cryptocurrency space to stay vigilant, prioritize security, and learn from these incidents to enhance the overall resilience of the ecosystem. As the market evolves, ongoing efforts to improve security measures, educate users, and strengthen the foundations of decentralized finance will play a pivotal role in maintaining market stability.

I do not view these incidents as a sign of a bull run. For me, it is an indication that cybercriminals are actively exploiting the growing interest and liquidity in the DeFi sector. That's why it doesn't matter whether the market is in a downtrend or uptrend. Similar to what happened to me before, even though it wasn't a bull run at that time and the market was still declining, my holdings were compromised, and my wallet was still affected. These kinds of scenarios only prompt platforms to find ways to enhance security and implement prevention measures when a breach has already occurred in their system.

It is rather a sign for all of us to stop spreading funds all around without prior research and we should start limiting ourselves to the safest options.

At this point I believe all the Services currently in existence are at risk for a future hack.  We have heard of pretty much ALL big Services getting hacked at some point in the past.  Do we really think the next big ones will survive?  Quit putting your Coins on random platforms.  Start being your own boss!

This is one of the more reasons why we shouldn't keep our funds in exchanges, the main purpose is for swapping and exchanging coins to fiat, nothing more. If your coin are still in a exchange you are only endangering yourself by keep your money open for hackers to come in. The rate at which hackers operate these days is too frequent than normal but yet, the market is still striving for a bullish movement. I won't say we are already in the bull run because what is see is a sideways. I don't think these hackers are going to stop any sooner but rather they continue to grow in numbers, our sole job is just protect our funds the best way that we can. Having learnt that they can actually hack through your phone to steal your coins I think the best option for max security is to use an air gapped device with a hardware wallets.

Definitely, of course, that's an obvious sign that the bull run is here. No one throws stones at unripe fruits on trees. There's a local saying that the easiest way to know that a tree has ripe fruits on it is to look at its foot and the evident of stones cast will be there. That's what's happening now in the crypto space. Scammers, hackers are on the loose now and are all trying to grab whatever they can lay their hands on. We hardly hear of these criminals during a bear market.

By the way, I didn't know that Poloniex was still operational. It used to be a big exchange in the past.

Hacking incidents becoming more frequent = sign of a bull run? I don't know, but hacking is happening whether the market is in a bull run or a bear. I don't know if I can use it as a sign because these platforms getting hacked all the time. It's just me though. :)

Hackers really are everywhere. When there's money involved, they are there. They are remorseless. They will do everything just to get every single cent that you have in your wallet. Right now, being more vigilant is a must. Being ignorant in the world of investing will lead to scammers scamming you. Newbies are supposed to learn first before investing. Knowledge is needed in order for the investors to at least lessen the chances of them getting scammed.

The market still holding strong even though lots of hacks are happening. I guess investors don't really care about it anymore because of the fact that it's happening more often already. I mean investors aren't panicking already, especially when the platform that got hacked only has a few hundred thousand users. It wasn't a hack per se, but the FTX drama really was the one that affected the market negatively. These hacks are really huge but weren't huge enough to affect the price of the top coins.

DEX services and bridges have become more likely to be hacked several times in recent years, and all of these incidents in one month indicate either that they are not focusing on customer security or that there are real vulnerabilities in smart contract bridges or internal attacks, and all of these, with the possibility that prices will rise in the coming months, are a warning. Everyone knows that keeping your money in unknown services or wallets or using these services may lead you to lose your money.

How can hacking indicate that the market is in bull run. It only indicates how vulnerable the following listed project were and how much loss they have suffered. Hacking incident can only make the market worse as they would lead to negative news and trust issue. A negative news never encourages a bull run but negative sentiments. A bull run won't come till next year as Bitcoin halving is expected to happen in 2024.

As per my understanding the market is more focused on SEC's decision. They have been in new a lot in last couple of months. If anything positive comes out from SEC then we might see a rally before the end of this year.

It's very unfortunate that crypto hacking is increased especially in the defi sector..I think hacking has no much relationship with bull run.. Whenever hacker successful to exploits any contract, he will not think how much fund is available.. He will not wait for bull market..It is free money and he will steal whenever he got opportunity regardless of bull or bear.


This chart shows only Defi hack and there are lot of phising, telegram scam and wallet hacking on the daily basis..Centralized exchange Binance also faced SEC issue but market is still looking strong.. I think the reason behind is ETF.. People know that one good news will push btc above the 40k which is positive sign for crypto market.. This is the reason people are not selling despite of bad news.

i don’t think we are in a bull run already but rather is approaching it

regardless there are always hackers at any time of the year
these hackers study exchanges and how they operate so most likely they’ve planned this months ago
if an exchange was hacked, its users will suffer and the exchange will suffer in the long run because they would have to redeem their image and gain back their customers’ trust which would be contradicting to say that hacking incidents are associated with  bull run

Why is it that most Defi are always targeted by hackers, is the security of Defi very easy to hack?
however those in defi should have anticipated this after seeing other defi projects hit by hacks

I also doubt that, they could say that but in the end the case was not fully investigated, they just said that their exchange had conceded without any resolution or responsibility from the exchange.
Does something like this happen purely because of hackers?

All of these happened this November? That's a lot, most of them I have never heard any major news.
Are these signs of bull runs? No. I don't think that hacks should be indications that we're already in the bull run.
And that is because even when we were on the bear market, there were hacks already and these hackers don't choose a season to hack a project.

Wow!! This is a huge amount of money that were hacked in the month of November 2023. And I believed it is an individual accounts that were hacked and not big companies. Hackers are roaming around the internet to whom to devour. So if you have enough funds in your wallets then security is your watch dog.  Many people are careless about their security in internet. Some are even using another person device to check their wallets. That is a careless person.

Probably the hacked were not in Companies so it didn't affect the market but if it were big companies then people's funds would have been lost and with that it would have affected the cryptocurrency market. Please don't disclose your security information to anyone except yourself and one trusted person.

We have hacks in the market, but we just keep everything low because these hack spree have become the major problems most brokers faces specifically the ones that don't have a strong security wall, they're under probability of losing everything, because they're dealing with top hackers and not some random newbies, we're talking about group work that prefers to stay anonymous. Hackers are always available to flip reasonable amounts from the market, that's specifically what they're known for, they enter the market at the appropriate time given for them and do their dirty job and leaves, that's specifically how they operates.

Hacking incidents as signs of bull run? That never crossed my mind but who knows, maybe.

Let's just be glad that it is not affecting the market too much. Years ago, those amounts of money would affect dearly the market of any coin if it announced that a part of it was hacked.
I guess the diversified number of coins today did help. Maybe there's not much that was hacked in Bitcoin and the popular altcoins due to the security of the exchange.
These hackers will just keep on attacking exchanges from now on because they cannot do that on a blockchain and investors must know about this. The big reason why it's dangerous to keep large amounts of cryptocurrencies in an exchange. The one thing that has been warned here in the forum over and over again.

Weird how people still will get alarmed more when anything centralized gets hacked in any way. No matter if it's a casino, exchange, bank, or anything. They will say that "look, i told putting your money on centralized service was dangerous. It's your own fault."

Then they keep on praising dexes, just because they are decentralized. No matter if they are full of security holes. I am honestly weirded out how this $50 mil exlpot is now considered normal day in crypto. Not far back in days $10 million usd robbery was considered to be worth of hollywood a-listers movie, with unrealistic hackers, grifters, ninjas and femme fatales.

I agree that this is one of the signs to enter a new bull cycle, when there are a lot of attacks, FUD, negativity in society,... that is a good time to start a new action. new program. But the scale and number of recent hacks make me imagine that there will be attacks that cause serious damage that people need to pay attention to. Furthermore, it is also necessary to pay attention to activities with CEX recently, where attacks occurred on a large scale.I think there are better innovations in the crypto space that can give participants peace of mind, but we still need to observe more events taking place to review the relationship between, and what is causing the current market condition?

The majority of these funds were stolen from Justin Sun owned platforms. That's far too suspicious to be a coincidence. After seeing what's happened to Sam Bankman Fried and CZ, it could be that he is executing a grand exit scam. This theory seems entirely plausible taking into account that Tron and Bittorrent were recently charged by the SEC with committing securities fraud.

I would suppose that it often happens is that those projects due to their desire to hit the markets as fast as possible, fail to debug their code and make sure their security is up to the standards necessary to perform the service they promote, so hackers with a lot of experience can find those bugs and then take advantage of them, so as this market gets more popular it would not surprise me if the number and the intensity of those hacks increased, especially now that we are getting closer to the bull run.

Hacking became an organized crime in the crypto industry. Especially on name came up frequently and that is north korea. Their government run hacking group is very good at finding exploits and kim is earning a lot of money through this as crypto currency can be a good option for cross border money transfers even from north korea. Previously it was mostly centralized exchange that were facing this type of exploits but now DApps are also being targeted especially the bridge that has been used to transfer crypto from one blockchain to another.

Yes, that's right, every exchange also faces the same thing, namely the risk of hacking and one of the problems that can arise is if the exchange has liquidity problems at a certain point in time and the place doesn't have to be just there as you mentioned above, but it can happen and has the potential anywhere

I believe those hacks were carried out on Decentralized Finance (DeFi) related exchange probably there is some loopholes and bug on their system which hackers capitalized on to steal those funds and possibly with the aid of some insiders, I think their developers should improve on their security firewall and should be updated with  the latest security softwares and hardwares because hackers are getting more sophisticated in their operation and all new DeFI developers should ensure the security of their exchange should be their first priority before any launching of their token all these measure would prevent future hacking.

Since then, there have been hacking issues, especially in centralized exchanges like Mt. Gox, KuCoin, and even Binance. No matter how secure a platform's security is, if targeted by hackers, they can still breach it. We may need to learn from past hacking incidents. After using a platform, it might be wise to immediately withdraw your coins, where you control the private key.

As for signs of a bull run, it could be a possibility, given the consecutive hacking incidents happening now. However, it could also be otherwise, and it depends on how individuals interpret these events. I don't solely rely on hacking incidents as a sign.. instead, I look at the market charts price movements.

That is the only defense we have against those hacks, exchanges regardless of how much they invest on their security will get hacked, that is a certainty, and someone that does not want to lose their coins in one of those incidents has not other option but to decrease as much as they can the amount of time their coins remain at an exchange, as in this way you can lower significantly the chances the exchange will get hacked while your coins remain there.

that is very correct. Hackers always attack third parties, and maybe in the future that might happen again. Within 1 month, quite a lot of places were targeted by hackers, and I think when third parties were targeted, the victims were the users who stored their crypto there.
That's why, until now, many people have advised us not to store the crypto we have on exchanges. It would be better to keep it in our controlled wallet, and maybe a hard wallet is the best.

That's why it's really hard to trust these exchanges due to the fact they are not totally capable of recovering the funds once they get hacked. But there seems to be a conspiracy theory behind these incidents because they all happened in November and that's not really good news for some newbie investors who have just been starting their journey as crypto investors. this time is not really the right time and the only ones celebrating is the SEC because they are winning every battle with their solid evidence against these coin owners and exchanges.

AI is dominating the narrative as one of the promising trends in 2024, Part of my November hack include exploring deep into the  AI narrative, its exciting to watch what inQUBETA been building lately for AI-Startups, letting Ai startups create investment NFTs listed for QUBE token holders. Also opportunities are divided into fractional NFTs allowing budget Friedly investments on the platform. As the projects progress, investors gets to earn rewards through equity NFT.

Hack is one of the major challenges of cryptocurrency projects and the need for high security is of great value. If not for the frequent hacks we had been seeing in the Crypto market, the market would be been more safe for both investors and project team. This is one of the reason why we must maintain high precaution level to keep our crypto portfolio safe from any intruders.
This is one of the reasons why we don't have to keep our crypto tokens on exchanges because if they eventually got hacked, it could affect us severely.

To avoid the activities of hackers we should regulary check our assets and if we find that out asset are missed then we should change whole details and place of our remaining coins. All processes of cryptocurrency are taking place online therefore there is a great chance of hacking.  Some people are unable to buy crypto coins therefore they are in Struggle to hack the wallets of other holders during Bull season because during Bull season market price higher and hackers always think to get profit from Bull season. People are often afraid of hacking so if this process last longer then no body will trust cryptocurrency and will move towards another way of earning.

The problem here is that, the victim here is the exchanges where we are expecting to be more secured and yet they exposed us to a hackers and even if we check our holdings there we might still be affected especially if the site decided to freeze all the accounts until further notice. It’s good that the market is still growing despite of these, let’s just hope that there’s no inside job here and hope that those exchanges will help their users too and ensure to be more safe.

Hacks will continue to be a thing in this space because of the following reasons:

• No software system is 100% free from hacks.
• Plenty of web3 projects strongly neglect the importance of security — even though you report a live vulnerability to them, they just sort out ways to downplay you. Very little incentives to be a whitehat vs blackhat when you can take 10% bounty or illegally keep it

I'm a big fan of DeFi but hacks makes it harder to onboard new users. Why onboard users when they can suffer hacks amd even MEV attacks?

We must do things right from the beginning so we are not hacked, a great deal of those that lose their coins either leave them at exchanges and other online wallets, fail to secure their seed words, install pirated software or access websites that could contain viruses and other malicious stuff, if you can avoid those and other common mistakes then your coins will be reasonably secure, and I say reasonably secure and not completely secure as no system can ever claim to be completely secure.