[2015-05-05] Ukrainian Bitcoin Exchange BTC-TRADE Hacked Again

[adonai]

Ukrainian cryptocurrency exchange Btc-trade.com.ua has once again announced it was hacked. The site’s main page contains the following announcement:
«Good afternoon. Unfortunately, today we experienced yet another hack. We’re clearing up amount of losses, please be patient. Don’t send money to the exchange’s wallets».


Full story: http://forklog.net/ukrainian-bitcoin-exchange-btc-trade-hacked-again/

[1Referee]

Never heard of this exchange before, but these flyby exchanges are getting emptied quite easily. I wonder if they bought the source or wrote it from scratch. I think the first.

[unamis76]

Only heard of them once, didn't knew they were hacked before, were they able to repay their customers back then?

Anyways, I don't see anything good coming out of here as usual. They seem to have a big disregard for security if they were hacked twice. Enough is enough... When will exchanges start using Multisig and when will people stop leaving too many funds on an exchange?

[Kprawn]

The thing is, there is little or no evidence in many of these cases, that it was hacked, and not a inside job.

People should just learn not to save HUGE amounts of coins in ANY exchange. Just leave some small amounts of coins for trading and keep the rest in cold storage.

A exchange is not a place to store coins.. period.!

Until someone find a way to decentralize these exchanges, I will never use them for big quantities of coins. If you want to trade in big volumes, use the more reputable exchanges or use more than one, to split your risk.

[Zorrocoin]

The thing is, there is little or no evidence in many of these cases, that it was hacked, and not a inside job.

People should just learn not to save HUGE amounts of coins in ANY exchange. Just leave some small amounts of coins for trading and keep the rest in cold storage.

A exchange is not a place to store coins.. period.!

Until someone find a way to decentralize these exchanges, I will never use them for big quantities of coins. If you want to trade in big volumes, use the more reputable exchanges or use more than one, to split your risk.

It seems that that exchange dealing with fiat money. At previous hack/s, they paid to their customers so I dont think its an inside job(but still possible).

I strongly want regulatory environment for exchanges. It will give more confidency to the customers. Cold storages, multi signatures should be necessary for operating BTC exchanges.

[Kaneki]

Ukrainian cryptocurrency exchange Btc-trade.com.ua has once again announced it was hacked. The site’s main page contains the following announcement:
«Good afternoon. Unfortunately, today we experienced yet another hack. We’re clearing up amount of losses, please be patient. Don’t send money to the exchange’s wallets».

this kind of thing often happens this should be a lesson for Bitcoin exchange market around the world  to further improve the security of its web, so there is no longer the injured party caused by hackers.

[MUFC]

The thing is, there is little or no evidence in many of these cases, that it was hacked, and not a inside job.

People should just learn not to save HUGE amounts of coins in ANY exchange. Just leave some small amounts of coins for trading and keep the rest in cold storage.

A exchange is not a place to store coins.. period.!

Until someone find a way to decentralize these exchanges, I will never use them for big quantities of coins. If you want to trade in big volumes, use the more reputable exchanges or use more than one, to split your risk.

People might not leave huge amounts on the exchanges, but when lots of people leave small amounts it all ads up. And besides, by the virtue of trading you have to keep the coins you wish to trade on an exchange but this is why we need to move away from centralized ones to decentralized. They can't come soon enough in my opinion.

[jdebunt]

The last time they got hacked wasn't that long ago...Looks like they didn't learn their lesson

[Kprawn]

The thing is, there is little or no evidence in many of these cases, that it was hacked, and not a inside job.

People should just learn not to save HUGE amounts of coins in ANY exchange. Just leave some small amounts of coins for trading and keep the rest in cold storage.

A exchange is not a place to store coins.. period.!

Until someone find a way to decentralize these exchanges, I will never use them for big quantities of coins. If you want to trade in big volumes, use the more reputable exchanges or use more than one, to split your risk.

People might not leave huge amounts on the exchanges, but when lots of people leave small amounts it all ads up. And besides, by the virtue of trading you have to keep the coins you wish to trade on an exchange but this is why we need to move away from centralized ones to decentralized. They can't come soon enough in my opinion.

When a lot of people leave small amounts, it will get hacked less. The big bag draw the biggest attention.

How do you think decentralized exchanges will exist with fiat capabilities? It's going to be interesting to see how this is going to be tackled.

Until then, keep large amounts away from exchanges and reduce the risk of big losses.