If an exchange gets hacked

[anjohyx]

Just remember don't store big amount fund in any exchange , transfer all your cryptocurrency to hardware wallet or desktop wallet (make sure computer don't have infected virus) , exchange don't recover user fund if it's gets hacked

[chocolah29]

I was just wondering about something. From time to time we see exchanges get hacked, with a big loss of Bitcoins for the customers as a result. However, I was wondering if the other coins and tokens you are invested in disappears as well? Let's say Ripple, Zcash, Monero etc.

I guess it depends on the hack.

Definitely it depends on how good and well trained the hackers and they can actually hack the whole system without leaving any token. That's why never leave any coins in exchanges as they're not liable to any tokens that stolen to you, you gonna be a crying child later on.

[cryptamod]

I always think this when i put my btcs in exchanges,they are lost already to give you a mindset to be vigillant in each and every time.

[olushakes]

I was just wondering about something. From time to time we see exchanges get hacked, with a big loss of Bitcoins for the customers as a result. However, I was wondering if the other coins and tokens you are invested in disappears as well? Let's say Ripple, Zcash, Monero etc.

Hackers that go after exchange sites don't leave stones unturned as they go after everything they can get. Exchange site that have been hacked in the past, its not only btc that is being traded on such site that gets affected, its the entire exchange that is compromised and that most times brings to the end of such site depending on the amount of damage the hack is causing. The truth of it is that, keep your funds yourself to avoid stories that touch because exchange sites are subject of targets everyday.

[adekogbe]

The concept of the blockchain is that everything is decentralized which means that the transactions cannot be followed, you can't really know who's behind the hack.
So I think the best thing to do to avoid stories that touch is..
* don't use an exchange wallet as a savings wallet
* trade with the big reputable exchanges on the high volume trade
* also be updated on wats going on in the crypto world.

[junjunsalsalani]

I was just wondering about something. From time to time we see exchanges get hacked, with a big loss of Bitcoins for the customers as a result. However, I was wondering if the other coins and tokens you are invested in disappears as well? Let's say Ripple, Zcash, Monero etc.

It depends on exchange's situation,if their system is f*cked up with the hackers,morelikely you will lose everything thats why we dont store our holdings in exchanges.

[realsmans]

I was just wondering about something. From time to time we see exchanges get hacked, with a big loss of Bitcoins for the customers as a result. However, I was wondering if the other coins and tokens you are invested in disappears as well? Let's say Ripple, Zcash, Monero etc.

Of course it will disappear. It depends on what info was stolen. But in my opinion, most of exchange hacks are not real, just owner takes customers money. But it is just my point.

[poncik]

If a big exchange hacked, very big and bad things happen. Such as the passing of people's identity information to hackers, the theft of coins, etc., take the crypto money world too far back. People's trust is over and no one wants to invest

[Zendalet]

You can take a look at the largest exchange at the time Mt. Gox which was hacked in 2011 and continued to behave erratically until 2014. 

https://en.wikipedia.org/wiki/Mt._Gox

The people who lost their Bitcoin on the exchange settled for $480 per BTC while the CEO gets to keep the Bitcoin.

https://news.bitcoin.com/winner-mt-gox-trial-mark-karpeles/

[ridertiger]

That is the main reason you need to keep your crypto assets on paper wallets and keep the private keys private. A paper wallet is unhackable in terms of online hacking. Keep it safe though. I would suggest taking/tearing the last letter out and memorizing it.

[witch]

I was just wondering about something. From time to time we see exchanges get hacked, with a big loss of Bitcoins for the customers as a result. However, I was wondering if the other coins and tokens you are invested in disappears as well? Let's say Ripple, Zcash, Monero etc.

You can not say that before the hack. Look at Bitgrail hack:

Only NANO coins disappeared. All the other assets should be safe according to statement of Francesco the Bomber.

[zeabat1234]

Maybe It will happen. Do not put all the eggs together in one basket
Coin got hacked that do not affect us.

[Durison]

Its an interesting thread here, and I have a lot of friends who lost tons of NANO from the Bitgrail exchange. I think everyone should read this article explaining what happened so they can protect themselves in the future.

Always store offline if you can!

http://fortune.com/2018/02/11/bitgrail-cryptocurrency-claims-hack/

[fraenky]

It’s better to got not much coins on exchanges, I just got some money to trade there but all my other longterm coins are stored in a wallet, funds on exchanges never 100% save

[silent17]

I was just wondering about something. From time to time we see exchanges get hacked, with a big loss of Bitcoins for the customers as a result. However, I was wondering if the other coins and tokens you are invested in disappears as well? Let's say Ripple, Zcash, Monero etc.

I also think, all the tokens and coins are converted to BTC and then transfer using BTC. That is the best way for a Token to have a value. Unlike when you hack all tokens, you will need all kinds of Wallet in order to store them.

[Martinkuhn]

it is not just BTC that are stolen from exchanges... all coins can be stolen.

Anyway the most recent big hack was on coincheck in japan and the hackers stole NEM coins worth $400 million dollars.

All coins stored on the exchanges can be stolen... so it is wise to store in your own wallet.

But coins stored in the wallet can also be hacked if you are not careful with your private keys or the security of your laptop.

I advise using a hardware wallet and lock in a safe.

[kier010]

I was just wondering about something. From time to time we see exchanges get hacked, with a big loss of Bitcoins for the customers as a result. However, I was wondering if the other coins and tokens you are invested in disappears as well? Let's say Ripple, Zcash, Monero etc.

everything is gone all you coins in the exchange that get hack or only if the hacker hack only certain coins. he hack the coins you don't have and you have the coins he/she don't hack so your coins is there. be careful with exchange site and don't put all your money there you will know if the exchange get hack or the owner itself hack the site.

[dangful]

I was just wondering about something. From time to time we see exchanges get hacked, with a big loss of Bitcoins for the customers as a result. However, I was wondering if the other coins and tokens you are invested in disappears as well? Let's say Ripple, Zcash, Monero etc.

There should be tremendous issue if an exchange is attacked and hacked. The result would be, more clients and customers will be affected due to their coin and money loss especially when their coin exchange temporary wallets are compromised.
To avoid this unfortunate issue is to not to stay your coins in the Coin Exchange for a long time and you will instead set into coin exchange when you do same day trading.

[Javanewstar]

In fact, most of the time don't need to worry about this problem, because most of the tokens exchange on cold wallet for storage, so most of the time will not happen this problem, but if your tokens, stolen,  big exchange has all enough money to pay.

[dangful]

I was just wondering about something. From time to time we see exchanges get hacked, with a big loss of Bitcoins for the customers as a result. However, I was wondering if the other coins and tokens you are invested in disappears as well? Let's say Ripple, Zcash, Monero etc.

everything is gone all you coins in the exchange that get hack or only if the hacker hack only certain coins. he hack the coins you don't have and you have the coins he/she don't hack so your coins is there. be careful with exchange site and don't put all your money there you will know if the exchange get hack or the owner itself hack the site.

Yes, everything will be gone because hackers can take away all the coins within the coin exchange and you will lose all your coins when the coin exchanges has been compromised.
It's a very difficult part of coin exchange to maintain their security in order to avoid this kind of problems but hackers could still access in any ways.
There are more hackers are now focusing on exchange attacks because they could get more money than getting funds from banks and their victims' money.