Bancor - Decentralized ?

[PETES]

This is an old issue and it has been said that no funds were been compromise and it was all safe.

CEX or DEX are all vulnerable to be hack so don't store any funds. Last time ED has beeen hack and a huge amount of eth was stolen. So what's the issue of bancor again?

[Jamboo30]

They need to do a lot more when it comes to security. As many other big and small players.
They gathered millions last year and they should do much more.
I'm using Bancor it's easy to use, but I'm feeling betrayed now.

I have also used Bancor several times and I found it to be similar to other exchange dencentralize like Eltherdelta or Idex, which is also quite convenient and easy to use. When using these exchange, I often use Metamask to increase security, avoid the case of hacking wallets

[poodle63]

This is an old issue and it has been said that no funds were been compromise and it was all safe.

CEX or DEX are all vulnerable to be hack so don't store any funds. Last time ED has beeen hack and a huge amount of eth was stolen. So what's the issue of bancor again?

Safe for what? have you watched it carefully? All of the amounts that are not in bancor form can't be refunded because they have no ability to burn or create a new token just like what they did with bancor. I remember guy said that bancor has an ability to freze or destroy the bancor token in any ethereum wallet address.

[uniquark]

They need to do a lot more when it comes to security. As many other big and small players.
They gathered millions last year and they should do much more.
I'm using Bancor it's easy to use, but I'm feeling betrayed now.

I have also used Bancor several times and I found it to be similar to other exchange dencentralize like Eltherdelta or Idex, which is also quite convenient and easy to use. When using these exchange, I often use Metamask to increase security, avoid the case of hacking wallets

And I think Bancor token value is being overestimated by what the exchange and its projects bring to this market. In all decentralized exchanges, IDEX is still the most traded place

[Ayobami99]

Bancor - a Kenya based exchanged which is known for its establishment of smart tokens got recently hacked. Bancor was said to be a decentralized exchanged but was recently compromised by hackers and suffered a huge loss of $23 million. People say that if it was a completely decentralized exchange then it should not have lost the funds. Bancor said they were able to freeze a portion of amount in the hack which again raised the question as a decentralized exchange cannot be able to freeze the funds.

What are your thoughts on this ?

News on cointelegraph : https://cointelegraph.com/news/bancor-urges-industry-players-to-collaborate-after-23-5-million-hack

I don't truly understand bancor actually,  but i believe decentralized or not, they may be using a single wallet to or smart contract to collect all funds which can amount to them loosing that much after being hacked. Decentralized exchanges nowadays suffer a lot of attacks from scammers so that shouldn't surprise anyone,  i believe atomic swaps is the future

[trofim21]

I read an article on the Internet that today almost all exchangers have been hacked at least twice no matter whether they are decentralized or non-decentralized scammers come up with new ways to circumvent the blockchain.

[bittick]

Etherdelta was decentralized too. But it was hacked by replacing domain address. There is nothing safe in the internet at all) You can be hacked everywhere.

Yes they are all decentralized but the hacker was so intelligent to make it them easier to stole the exchanger profits.The more we improve they are also improve it's ability to hacked.

They are not decentralized and that's just a marketing gimmick. The bancor developer can't even maintain its vulnerability. Remember about it's raised around 200 millions dollars for nothing. It's not about the intelegency of hacker. it's about how the team can maintain its security properly.

[sherenikaw]

It is too difficult to avoid the hackers everywhere. They will always know where to get the nice shot and when to make it real. I mean that we know that Bancor is a very promising and great platform offering the coin, exchange, and also platform for ICO and bounty. It serves great concept. However, hackers will not lose this kind of thing not to be hacked. Just big hope that it will end soon. 

[Saugani]

I'm Honestly once using the bancor when the token pundix in market bancor.

Yes it's a bancor uses the system protocol are decentralised, but look in terms of exposed security attacks from hackers as well. On the other hand, their successful in Exchange too include the ICOs native-token BNT.

I think, maybe the previous existence of a hacker attack were due to many embedded system log-in a user account such as SMS, telegram, messenger (FB), wechat. This's the login function on model of social networking it was very risk the attack as well.

I mean, when the login account using to a (Bot-Telegram Bancor), often once a Bot that changed it's name and username then should all OTP codes. From then I stop using the bancor exchange, even though their website fast stable etc.

So all the traders, the user can rate and have an opinion an own. We suggest that we should avoid any losses there are both as bad as that.

[Rrotess]

Etherdelta was decentralized too. But it was hacked by replacing domain address. There is nothing safe in the internet at all) You can be hacked everywhere.

Yes they are all decentralized but the hacker was so intelligent to make it them easier to stole the exchanger profits.The more we improve they are also improve it's ability to hacked.