$500 million go missing in largest cryptocurrency hack ever - News

[buternasek]

hackers again hackers again, a term I often hear
they always make the act, they hack whatever they want, break into the security system and steal the assets in it. we can only minimize that
don't never click on a link that is not clear source, or open a strange message in your gmail

[Kildin11]

the most serious problem! even cold wallets can not provide 100% protection of the crypt. I think projects that specialize in data protection will be very much in demand at the present time. you know what I mean?

[freightjoe]

Japanese cryptocurrency exchange Coincheck has confirmed it lost about $524 million after suffering a hack which stole 500 million NEM tokens, said to be the biggest cryptocurrency hack ever. NEM, the 10th-largest cryptocurrency by market value, fell 11% over a 24-hour period following the hack. The previous largest theft was pegged at $450 million in 2014 from a Tokyo-based exchange.

Shocking news huh? This will affect badly for the Crypto world. Are these hackers unstoppable ? I am worried all my coins are in exchanges, not in hardware wallets, Exchanges are really not safe, This news confirms it again.

Yes, they are unstoppable - and as more people begin to properly worry about their money, they go out of crypto again

[walemil]

Exchanges are main target of hackers and for this reason, people should learn not to leave their cryptocurrencies on exchanges. You must return them to your main wallet. So many people are losing huge amount of money to hackers and it seems the trend may not end on time.

[NoSkyLimit]

Are this hacks ever gonna stop? This will cause a flash crash to bitcoin price if this didin't happend already. Nubit can be right , this could be an inside job and it will not be the last one as more and more cash is flowing into cryptos , people get tempted to steal so I really really hope that in the next years some realy tough rulles will put this people behind bars.

[hiddenmist]

Japanese cryptocurrency exchange Coincheck has confirmed it lost about $524 million after suffering a hack which stole 500 million NEM tokens, said to be the biggest cryptocurrency hack ever. NEM, the 10th-largest cryptocurrency by market value, fell 11% over a 24-hour period following the hack. The previous largest theft was pegged at $450 million in 2014 from a Tokyo-based exchange.

Shocking news huh? This will affect badly for the Crypto world. Are these hackers unstoppable ? I am worried all my coins are in exchanges, not in hardware wallets, Exchanges are really not safe, This news confirms it again.

It is the exchange fault and not the NEM coin. The exchange didn't put XEM in a cold storage which is a basic protocol of every exchange in the market. That is why you must do a habit not to put all your holding in an exchange if you don't want to get lost all your  investment.