If an exchange gets hacked

[BQ]

exchanges should hold a large part of their funds in cold wallets(=only accessable by a few people),
however it wouldn't be surprising if many holds a big part of coins in hot wallets, probably the less established exchanges could do this.
it's never wise to keep your crypto on an exchange! they hold your private key, thus they have full access in the end while you don't.

however if you are not technically interested it's maybe safer to keep it at an exchange, compared with maybe having viruses and such.
ultimately it's your money and your decision!

[papagapa]

There are three ways of continuation after it. First is that they will not return the money back, no matter what. Second is that they will be fair and will return the money, as it was their failure. And the last one is find hackers and return everything from them.

[xenomorphe1]

This is the risk of a centralized exchange. That's why you should only put the coins/tokens you want to trade on an exchange.
If they can steal Bitcoin, they can also steal the other coins/tokens.
You can minimize the risk by trading at multiple exchanges.
You can use decentralized exchanges, but people don't really use them.
Except some exchanges for Ethereum. But they can be hacked too (DNS hack).
Or you can try to use BarterDEX. But there is too few people using it.

[Bhosted]

I read that there are already cases when hackers hacked exchanges and stole a lot of money,if compared to banks, then the crypt more risky....

[MCVXYZ]

Exchanges have key information that controls large amounts of alternative coins and especially bitcoins,and Of course they must be very careful when they are checking their wallets and its not about checking hot or cold wallets,They need to renew their  security software..So Answer is obvious if they do something wrong about these procedure of course you will lose tokens or another coins too,It depends on which information will they hack,If they steal the information which controls your concrete coin you may say them bye...And we all know, incidents like these have already happened.

[lamadu3]

I wonder why so many people still use exchanges to store their coins for a long time. Exchanges are so unsafe, they got hacked regularly; moreover, some exchanges crash and all users belongings just disappear. Wallets (online or desktop) are free of charge and not so easy to hack.

[Torps1]

It will be an unfortunate situation for both exchange and owner of coins. I think different exchange has their policy regarding hacking or loss of customers funds. Some may decide to compensate customers while some may not.....its better to find out.

[tncbitcoin]

We have always make our token and coins not to stay long on an exchange wallets. Hackers now are targeting any security exchanges even it is centralized or decentralized. We have always diversified our assets because no one is secure now.

[boss82_big]

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.

At the stock exchange, all the coins can be lost and lost, BTC has the biggest price and most of it is stealing the most, so if they have the opportunity to steal some other coin, they will steal it too.

[MFY151]

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 think it will be gathered also by the hacker to trade. There are a lot of money in altcoins too and I bet most hackers targets altcoins instead of bitcoins, I wish there's away to hold funds that are confirmed taken by these hackers to stop these instances.

[Feranhum]

On the off chance that a major trade hacked, enormous and terrible things happen. For example, the death of individuals' personality data to programmers, the robbery of coins, and so on., take the crypto cash world too far back. Individuals' trust is finished and nobody needs to contribute

[metribitcoin]

To reduce the risk from this case, its better to chooce exchange that has protection for their customer, like Binance that has SAFU program ( Secure Asset Fund for Users). All exchanges should be has the same protection for their customer. Other way to minimize this risk is use also minimum 2 different exchanges.

[Rules85]

It depends on the exchange, which pays out if it trades all the money it needs.
But if the exchange cannot pay the token, it will disappear.

[darkwiz1417]

Thats why if your holding your coins better its better to move it to your private wallet thats safer !

[jayco25]

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.

The fact is not only bitcoin but all digital currencies hodl on exchanges possible to loss if exchanges been hack. Its better to keep your hodling in your safe wallet rather that keeping it in exchanges. So no excuses for losses if you hodl and the exchanges was hack.

#Support Vanig

[taufik123]

if the resentment has occurred in the exchange, the asset of the trader becomes a threat and will not be able to return. but for large exchanges like bittrex, bitfinex, binance, bitbay etc, it increases security. If you want to be safer you can save assets in a personal wallet like Ledger or Trezor.

[kevincandra]

trading or exchange can all be hacked, but we can still outsmart it by copying your money in several places and making sure that the place is only you who knows. And the most important thing is not to put everything in one place. must make a copy that is different from the needs you use, then you lock the two places and make sure only you hold them and use them.

[MonsterBlazer]

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.

each exchange has a different policy for the customer's lost coins. Some exchanges will compensate and some will file bankruptcy. Never use exchanges as a deposit of long-term funds, if you want to save, you can do it in the wallet.

[organelles]

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.

If an exchange gets hacked and you have your coins in the exchange then there is every possibility that your coins will be stolen if they get into your account regardless of the kind of coins that you have, if they want it then they can take it. Which is the reason you should never leave your coins on exchanges as they are prone to hacking.

[veter2601]

For storing your crypto assets, I advise you to use hardware wallets. If there is a need to store your coins on stock exchanges - do not store them on one and carefully choose exchanges that have already earned credibility.