Metawin got hacked, $4 million stolen

[virasog]

There are always going to be people willing to risk their money and their capital by engaging with unreliable and shady exchanges and casinos. There is nothing new about it, actually, one of the reasons why so many people get trapped by unreliable casinos is because they alledgedly lack enforcement of KYC and AML. Also there is trick of using specially attractive odds in order to catch bettors in their markets.
Whaever, if something seems to goo to be true, we better stay was far away as possible from it.

Those who willing to take such risks, should not complain when any mishap happens with them. They choose to take the risk and they are responsible for their actions. If you ask me i would always prefer to play at trusted casino or trade as trusted reputed exchange. I wouldn't fall for things like no KYC and unreasonable bonuses that's seems unrealistic. Wherever money is involved, one needs to be extra careful and vigilant.

[Haunebu]

Metawin will have a tough time recovering the stolen fund and for that, the success of their recovery will depend largely on the cooperation of the exchange and the approach at which the metawin team interacts with the exchange based on the regulatory laws.

The chances of them recovering the stolen amount is pretty low for various obvious reasons. Hitbtc is a name that I am hearing about after quite sometime and I remember them being quite shady.

Metawin might be able to negotiate a mutually beneficially deal with them, but the chances of that happening are slim thanks to their bad reputation.

[Josefjix]

The only thing HitBtc can do now is provide the appropriate information on the deposit account because it has already been KYC'd.

I’m not sure if HitBTC has a KYC implementation that meets proper standards. If not, it could make it easy for hackers to manipulate the process. Since this exchange lacks credibility, it’s fair to compare it to Yobit, which is still widely used despite not requiring KYC, and both exchanges handle significant crypto inflows and outflows.

It doesn't I just checked it out now and found out that they're still using the old KYC procedures to verify an account ( submitting docs and uploading pictures) which could be easily manipulated using a stolen IDs. How they went from being No.1 exchange with high volume to shitty worthless exchange still surprises me.

[delfastTions]

The only thing HitBtc can do now is provide the appropriate information on the deposit account because it has already been KYC'd.

I’m not sure if HitBTC has a KYC implementation that meets proper standards. If not, it could make it easy for hackers to manipulate the process. Since this exchange lacks credibility, it’s fair to compare it to Yobit, which is still widely used despite not requiring KYC, and both exchanges handle significant crypto inflows and outflows.

It doesn't I just checked it out now and found out that they're still using the old KYC procedures to verify an account ( submitting docs and uploading pictures) which could be easily manipulated using a stolen IDs. How they went from being No.1 exchange with high volume to shitty worthless exchange still surprises me.

That's exactly what it is, that access to a stolen ID is now becoming a not at all difficult task, and for advanced scammers it is extremely easy to do, so such KYC instead of protecting the user, on the contrary, only creates another vulnerability option. In general, the security of both the player and the casino or exchange is only getting worse. I do not understand how it is possible for officials of all kinds of businesses who are responsible for security not to take this into account. And for what reason are such primitive confirmations of the user's identity still used, such as photographs of documents and other similar options. What nonsense. But maybe of course the matter is explained simply by the earnings of those who provide all this really counterproductive activity.

[avp2306]

The only thing HitBtc can do now is provide the appropriate information on the deposit account because it has already been KYC'd.

I’m not sure if HitBTC has a KYC implementation that meets proper standards. If not, it could make it easy for hackers to manipulate the process. Since this exchange lacks credibility, it’s fair to compare it to Yobit, which is still widely used despite not requiring KYC, and both exchanges handle significant crypto inflows and outflows.

It doesn't I just checked it out now and found out that they're still using the old KYC procedures to verify an account ( submitting docs and uploading pictures) which could be easily manipulated using a stolen IDs. How they went from being No.1 exchange with high volume to shitty worthless exchange still surprises me.

What can you expect from HitBTC? they didn't got much traction from people so maybe they just let those things happen and they didn't do much any effort to upgrade that matter to make their site safe from being use by frauds.

I don't know if they became a no.1 exchange since anyone can claim that they the top exchange. What I remember about them they have allegations to have fake volume so I'm not surprise that some people say that they are one of the top exchange before.

Well let see some updates if we can see Metawin management will solve this issue or it will dissolve and same on other case the hacker escape again taking some huge money from them.

[Josefjix]

What can you expect from HitBTC? they didn't got much traction from people so maybe they just let those things happen and they didn't do much any effort to upgrade that matter to make their site safe from being use by frauds.

I don't know if they became a no.1 exchange since anyone can claim that they the top exchange. What I remember about them they have allegations to have fake volume so I'm not surprise that some people say that they are one of the top exchange before.

I researched about exchanges before Binance and found HitBtc to be the most customer-friendly option, though I have no personal experience with them.

Metawin may have recovered some of the $4m, but it is unclear. Casino platforms often keep bad news hidden for as long as possible.

[Lanatsa]

What can you expect from HitBTC? they didn't got much traction from people so maybe they just let those things happen and they didn't do much any effort to upgrade that matter to make their site safe from being use by frauds.

I don't know if they became a no.1 exchange since anyone can claim that they the top exchange. What I remember about them they have allegations to have fake volume so I'm not surprise that some people say that they are one of the top exchange before.

I researched about exchanges before Binance and found HitBtc to be the most customer-friendly option, though I have no personal experience with them.

Metawin may have recovered some of the $4m, but it is unclear. Casino platforms often keep bad news hidden for as long as possible.

Bad news cant be kept up forever on which specially at the moment or time that users been affected on such hacking incident. If ever they will be announcing that everything is fine and no users funds is really that affected then it will be bringing up that kind of assumption that this really be that might be a faked kind of hacking incident just some sort of indirect marketing into their site? Yes. its a negative thing and not something ideal that need up to do on a business because we do know that once that negative things do happen then it will really be also bringing up this kind of possibility on which users in the market will be having that that bad impressions on which it will be causing that sudden decrease of users when they do know that hacking incident is happening.

The possible good thing on here is that they will be announcing it that they have resolved the issue and get back those funds or simply refunded it out on which it will be bringing out that kind of question into someones mind on how the hell they do able to make out such recovery specially if its done in a short span of time. Speaking about customer friendly kind of platforms on which you can say that almost exchangers will really be that something like this because keeping up their traders or users as much as possible which this simply means that they can earn more revenue, this is why they will be giving out that best experience as much as they can.

[Wind_FURY]

What can you expect from HitBTC? they didn't got much traction from people so maybe they just let those things happen and they didn't do much any effort to upgrade that matter to make their site safe from being use by frauds.

I don't know if they became a no.1 exchange since anyone can claim that they the top exchange. What I remember about them they have allegations to have fake volume so I'm not surprise that some people say that they are one of the top exchange before.

I researched about exchanges before Binance and found HitBtc to be the most customer-friendly option, though I have no personal experience with them.

I believe that's not actually very true. HitBTC had many unresolved scam accusations when I was still very new to Bitcoin and crypto. Plus the reviews from the users truly gave me the impression that that exchange should be avoided.

Metawin may have recovered some of the $4m, but it is unclear. Casino platforms often keep bad news hidden for as long as possible.

I believe it's not because they want to "keep it hidden". They merely want to avoid anything unnecessary like FUD or any worthless negative discussions.

[delfastTions]

What can you expect from HitBTC? they didn't got much traction from people so maybe they just let those things happen and they didn't do much any effort to upgrade that matter to make their site safe from being use by frauds.

I don't know if they became a no.1 exchange since anyone can claim that they the top exchange. What I remember about them they have allegations to have fake volume so I'm not surprise that some people say that they are one of the top exchange before.

I researched about exchanges before Binance and found HitBtc to be the most customer-friendly option, though I have no personal experience with them.

I believe that's not actually very true. HitBTC had many unresolved scam accusations when I was still very new to Bitcoin and crypto. Plus the reviews from the users truly gave me the impression that that exchange should be avoided.

Metawin may have recovered some of the $4m, but it is unclear. Casino platforms often keep bad news hidden for as long as possible.

I believe it's not because they want to "keep it hidden". They merely want to avoid anything unnecessary like FUD or any worthless negative discussions.

And how can we avoid mass negative discussions of some facts that can also negatively affect the business and the influx of new customers for this business.
If we are all in a free market, as is obviously the case in the gambling industry on a global scale or in the case of trading on crypto exchanges, then no one has canceled competition. And deliberate and sponsored dissemination of negative information about a competitor, as one of the elements of a marketing strategy, is naturally used actively and will be used also actively and constantly in the future.
So, although such a possible fight against FUD is waged by different business representatives, it is unlikely that this fight will end in victory over FUD.

[EarnOnVictor]

There are always going to be people willing to risk their money and their capital by engaging with unreliable and shady exchanges and casinos. There is nothing new about it, actually, one of the reasons why so many people get trapped by unreliable casinos is because they alledgedly lack enforcement of KYC and AML. Also there is trick of using specially attractive odds in order to catch bettors in their markets.
Whaever, if something seems to goo to be true, we better stay was far away as possible from it.

Those who willing to take such risks, should not complain when any mishap happens with them. They choose to take the risk and they are responsible for their actions. If you ask me i would always prefer to play at trusted casino or trade as trusted reputed exchange. I wouldn't fall for things like no KYC and unreasonable bonuses that's seems unrealistic. Wherever money is involved, one needs to be extra careful and vigilant.

People do not see it that way which is one of the reasonss scams and complaints are many. Fine, the best companies today started one day, this doesn't automatically call those new or unpopular ones bad, but the truth is that it's our money we are talking about, even if we try those unfamiliar ones, it should be with caution and not with the amount of money that will hurt us if swindled. Those casinos and exchanges to entrust big amounts with must be those well-established and trusted ones, at least, our money will be safer that way.

[Taskford]

There are always going to be people willing to risk their money and their capital by engaging with unreliable and shady exchanges and casinos. There is nothing new about it, actually, one of the reasons why so many people get trapped by unreliable casinos is because they alledgedly lack enforcement of KYC and AML. Also there is trick of using specially attractive odds in order to catch bettors in their markets.
Whaever, if something seems to goo to be true, we better stay was far away as possible from it.

Those who willing to take such risks, should not complain when any mishap happens with them. They choose to take the risk and they are responsible for their actions. If you ask me i would always prefer to play at trusted casino or trade as trusted reputed exchange. I wouldn't fall for things like no KYC and unreasonable bonuses that's seems unrealistic. Wherever money is involved, one needs to be extra careful and vigilant.

People do not see it that way which is one of the reasonss scams and complaints are many. Fine, the best companies today started one day, this doesn't automatically call those new or unpopular ones bad, but the truth is that it's our money we are talking about, even if we try those unfamiliar ones, it should be with caution and not with the amount of money that will hurt us if swindled. Those casinos and exchanges to entrust big amounts with must be those well-established and trusted ones, at least, our money will be safer that way.

Maybe they believe so much that there's nothing gonna happen with them since the casino is performing better and spending a lot of money to run a good business here. I guess those grounds make people believe that the casino won't ruin their reputation since they are spending a lot of effort to became reputable in industry.

But I think the risk is everywhere since even those old reputable casino before turn into scam. So what we only could do is to take precaution always upon dealing with them and just use the amount you can afford to lose. This is the advice we commonly see but somehow useful especially everything in online is unsure and we don't know on when the scamming schemes will happen to those what people think a reputable platform.

[Perfectbaby]

But I think the risk is everywhere since even those old reputable casino before turn into scam. So what we only could do is to take precaution always upon dealing with them and just use the amount you can afford to lose. This is the advice we commonly see but somehow useful especially everything in online is unsure and we don't know on when the scamming schemes will happen to those what people think a reputable platform.

I don't think is somehow useful but to me i term it to be extremely useful because whenever people keeps obeying this words you will see them hardly became a victim of the said hack or incident within the gambling site or exchange accounts.
If you look very well those who doesn't leave their winning back to the casino hardly fall victim of hack, on those who accumulates their profits inside the casino are likely to face this problems. Though most of the reputable casino's they tries all the could to maintain their stands and even if they are hacked today, they would make sure to refunds all users their stolen amount from the casino. Just what metawin did. For this their users still believe and have trust in them, meaning what happened would still attracts more gamblers to the gambling site.

[delfastTions]

But I think the risk is everywhere since even those old reputable casino before turn into scam. So what we only could do is to take precaution always upon dealing with them and just use the amount you can afford to lose. This is the advice we commonly see but somehow useful especially everything in online is unsure and we don't know on when the scamming schemes will happen to those what people think a reputable platform.

I don't think is somehow useful but to me i term it to be extremely useful because whenever people keeps obeying this words you will see them hardly became a victim of the said hack or incident within the gambling site or exchange accounts.
If you look very well those who doesn't leave their winning back to the casino hardly fall victim of hack, on those who accumulates their profits inside the casino are likely to face this problems. Though most of the reputable casino's they tries all the could to maintain their stands and even if they are hacked today, they would make sure to refunds all users their stolen amount from the casino. Just what metawin did. For this their users still believe and have trust in them, meaning what happened would still attracts more gamblers to the gambling site.

By the way, you raised a rather interesting and important question about whether to withdraw money from the casino to your wallet immediately after winning or leave it on deposit and use it further for the game.
In the first case, of course, there is a guarantee that suddenly this money will not become problematic for withdrawal or the casino will generally collapse.
The second option is also not very good since it involves many transactions, which naturally wastes both your time and your money for commissions. But this is like paying a guarantee of the safety of money in the event of force majeure associated with the bankruptcy of the casino itself.
The optimal option is probably to save a specific amount on deposit, individually acceptable for the player and such that theoretically the player can risk losing it.
However, this amount can of course be very different for different players.