Casino that does/doesn't admit they've been hacked?

[Straux]

So, I once heard from a friend a quote.

"All banks have either been hacked and they about l admit it, or they've been hacked, but they haven't admitted it."

So I'm wondering if this is the same case with gambling sites, and would you trust one that has admitted they've been hacked, or one that keeps it quiet?

[sherbyspark]

So, I once heard from a friend a quote.

"All banks have either been hacked and they about l admit it, or they've been hacked, but they haven't admitted it."

So I'm wondering if this is the same case with gambling sites, and would you trust one that has admitted they've been hacked, or one that keeps it quiet?

If you have money in the right casinos(assuming you are talking about investment based ones) , then most of them offer an address where most of the coins are stored to prove solvency. If they get hacked it would become evident.

As for the trust, its a personal choice, I don't trust either as a casinos can simply claim to be hacked and leave out users with nothing, on the other hand they could be running insolvent(maybe after a hack) which again would mean users will not receive their money that they invested.

[RealPhotoshoper]

So, I once heard from a friend a quote.

"All banks have either been hacked and they about l admit it, or they've been hacked, but they haven't admitted it."

So I'm wondering if this is the same case with gambling sites, and would you trust one that has admitted they've been hacked, or one that keeps it quiet?

There is two scenarios gambling sites admitted hacked.

1. They gonna turn scam by claiming hacked and can't refund users money there.
2. They are really get hacked, usually they keep quiet to make customers feel safe and they solve it as soon as possible, once a customer curious ask is everything ok they admitted hacked. But act professionally by calming down users etc.

As long as they can explain everything very clear and we don't have any problem to gamble, it's ok they admit it or not .

[DarkStar_]

I would rather trust one that admits it because it would show that they are honest. (As long as they don't turn into a scam)
If you can't trust a site with being hacked, maybe you can't trust it with other stuff.

[dodgecharger]

It depends on which one, and how they handle it. But I tends to trust the one who claims the hacks and manages to calm down the users and investors. They takes necessary measures to fix their bugs and pays out the withdrawal request, and are transparent.

[Superhitech]

Bitcoin casinos might keep small hacks quiet; but they usually have to tell the public about major hacks as it may affect their users.
Their users are bound to notice the hacks after a while, and that might make them lose trust in the casino. The best thing to do is to tell the public and to handle the situation professionally; don't leave them in the dark.

Primedice has actually been taken advantage of in the past, you can read about it here: https://bitcointalk.org/index.php?topic=843892.0

[koshgel]

So, I once heard from a friend a quote.

"All banks have either been hacked and they about l admit it, or they've been hacked, but they haven't admitted it."

So I'm wondering if this is the same case with gambling sites, and would you trust one that has admitted they've been hacked, or one that keeps it quiet?

If you have money in the right casinos(assuming you are talking about investment based ones) , then most of them offer an address where most of the coins are stored to prove solvency. If they get hacked it would become evident.

As for the trust, its a personal choice, I don't trust either as a casinos can simply claim to be hacked and leave out users with nothing, on the other hand they could be running insolvent(maybe after a hack) which again would mean users will not receive their money that they invested.

This is the truth. The same deal with exchanges. Poloniex was hacked but the admin slowly paid back every single user that lost funds because of it. Funds were insured.

[Erza]

So, I once heard from a friend a quote.

"All banks have either been hacked and they about l admit it, or they've been hacked, but they haven't admitted it."

So I'm wondering if this is the same case with gambling sites, and would you trust one that has admitted they've been hacked, or one that keeps it quiet?

There is two scenarios gambling sites admitted hacked.

1. They gonna turn scam by claiming hacked and can't refund users money there.
2. They are really get hacked, usually they keep quiet to make customers feel safe and they solve it as soon as possible, once a customer curious ask is everything ok they admitted hacked. But act professionally by calming down users etc.

As long as they can explain everything very clear and we don't have any problem to gamble, it's ok they admit it or not .

Yes but most people want to withdraw their money right away after this incident. So although they explain it clearly I think player will still say that this site is scam or anything bad. I dont think that you can directly telling them that your site is being hacked like that. I think they should cover everything without anyone noticed then find a way to give some payout to them before they know something happened to the site

[erwin45hacked]

It depends on which one, and how they handle it. But I tends to trust the one who claims the hacks and manages to calm down the users and investors. They takes necessary measures to fix their bugs and pays out the withdrawal request, and are transparent.

Some site hides about them being hacked because most people will be afraid of losing their funds in the casino and that could damage the site's reputation . Most sites fix their exploit even without telling their players that they are hacked beforehand so both this options has pros and cons

[edmundduke]

So, I once heard from a friend a quote.

"All banks have either been hacked and they about l admit it, or they've been hacked, but they haven't admitted it."

So I'm wondering if this is the same case with gambling sites, and would you trust one that has admitted they've been hacked, or one that keeps it quiet?

I would rather trust the site that admitted it has been hacked. It would also require for them to compensate the lost fund to the users (if users funds were lost). And ensuring future steps to avoid getting hacked again.
Lying about something like this can only do the company harm.

[krunox123]

Why would they won't admit that they were hacked?
IMO, no one would trust a casino that cannot admit that they were hacked. But still we cannot blatantly accept the fact that they were hacked without any proofs, because it can be faked too.

[adaseb]

Most large casinos or large bitcoin sites do actually get hacked. Sometimes so badly that they have to go bankrupt.

I am pretty sure most of the time they admit their mistake.

[mobnepal]

I will trust the one that admit they've been hacked if they really got hacked. But some of the past scam hyip and lots of other ponzi have used hacked as fake made up statement to get away from investigation so the one which provide link to cold wallet address (bitcoin related casino) to show their solvency and admint when they get hacked will be the trusted one.

[patt0]

So, I once heard from a friend a quote.

"All banks have either been hacked and they about l admit it, or they've been hacked, but they haven't admitted it."

So I'm wondering if this is the same case with gambling sites, and would you trust one that has admitted they've been hacked, or one that keeps it quiet?

I would sure have more trust on a gambling site that informs it's users when a problem occurs, and shows the mesures they are taking to solve the problem and avoid further issues. If they keep it quiet and I eventually find out, they will sure lose my trust. If it does not get out, then of course everything will stay the same, because we don't know, but I think it's a risk not worth taking by the sites.

[bitbaby]

I will trust the one that admit they've been hacked if they really got hacked. But some of the past scam hyip and lots of other ponzi have used hacked as fake made up statement to get away from investigation so the one which provide link to cold wallet address (bitcoin related casino) to show their solvency and admint when they get hacked will be the trusted one.

Casinos with proper cold storage shouldn't get hacked in the first place. Isn't that the whole point behind having a cold storage so the funds can remain completely secured?

I can understand if a site claims that their hot wallet got compromised (which usually has a small amount of coins), which is acceptable but I don't believe when they say their funds got stolen from cold storage. If funds move from a cold storage, its almost certain that the real owners moved it themselves and claimed they were stolen.

If a casino don't have a visible cold storage then you can not know if they were hacked or not unless they explicitly declare that themselves.

[shulio]

Casinos with proper cold storage shouldn't get hacked in the first place. Isn't that the whole point behind having a cold storage so the funds can remain completely secured?

There are alot of cases where cold wallet could be hacked as well , if you remember that few months ago bitstamp cold wallet was also hacked so saving funds in cold wallet is not the problem here but wether you trust a site that honestly claimed they were hacled pr trust a site that keep silent about it

[edmundduke]

I will trust the one that admit they've been hacked if they really got hacked. But some of the past scam hyip and lots of other ponzi have used hacked as fake made up statement to get away from investigation so the one which provide link to cold wallet address (bitcoin related casino) to show their solvency and admint when they get hacked will be the trusted one.

Casinos with proper cold storage shouldn't get hacked in the first place. Isn't that the whole point behind having a cold storage so the funds can remain completely secured?

I can understand if a site claims that their hot wallet got compromised (which usually has a small amount of coins), which is acceptable but I don't believe when they say their funds got stolen from cold storage. If funds move from a cold storage, its almost certain that the real owners moved it themselves and claimed they were stolen.

If a casino don't have a visible cold storage then you can not know if they were hacked or not unless they explicitly declare that themselves.

There is always the option of getting hacked, no matter what site it is. It doesn't even matter if it has a cold wallet or not. Who says the hacker cant get into the system and change the deposit address into his own so anyone entering the site sends him the money ? or anything along those lines. The question in the OP is simple tho, would you trust the company who is honest about it or the one who is not.

[bitbaby]

There are alot of cases where cold wallet could be hacked as well , if you remember that few months ago bitstamp cold wallet was also hacked so saving funds in cold wallet is not the problem here but wether you trust a site that honestly claimed they were hacled pr trust a site that keep silent about it

There is always the option of getting hacked, no matter what site it is. It doesn't even matter if it has a cold wallet or not. Who says the hacker cant get into the system and change the deposit address into his own so anyone entering the site sends him the money ? or anything along those lines.

I would not trust a company which doesn't insures user's funds. Its the company's responsibility to insure their clients funds. This is why it is getting hard for people to trust BTC companies, because it is getting much convenient for them to scam and call it a hack.

I would trust a company which despite of being hacked returns the funds of the users but it also raises a concern if their cold storage funds are getting hacked, then maybe they're not secure enough to keep funds with.

The question in the OP is simple tho, would you trust the company who is honest about it or the one who is not.

The question is dumb actually, if the company doesn't declares that they were hacked, then no one will know about it and then the question to trust or not-trust based on that doesn't exist.

[pereira4]

A business will never accept their security has been compromised if they think they can get away with it. Why would they admit it? Even if they do it for ethical reasons, it would be against them, because people don't value honesty, people value good performance and security, and admitting that your stuff got compromised diminishes this sense of trust towards a brand.

So as long as I don't know about it and im having a good time in their casino im ok with it, of course if it becomes public that they lied, I would stop trusting them, but again, if they admit it in the first place, I would also don't trust them anymore, so it's the same.

[zmhaha]

In my opinion nobody is perfect and everyone has a right to make a mistake. That being said, it's not a sin getting hacked. It's important how will this casino handle a situation.

It always comes to my mind a Poloniex hack few years ago. They got screwed but they have handled it honorably and perfectly and I still trust them.