EHT7500
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August 09, 2018, 08:57:35 PM |
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Crypto-exchange is an insurmountable goal for hackers, and often traders are not given any guarantees or means to attract the owners of exchanges to liability.
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Btcaivah1
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Activity: 154
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August 09, 2018, 09:01:09 PM |
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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 hackers will be targeting the top rank coins since it could be easily be traded due to the number of exchange. This is why they will specifically choose bitcoin or ethereum as the coin they will be hacking. |
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mynamehere
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August 09, 2018, 09:01:27 PM |
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The future for exchange will be systems that can better protect the safety of traders. I hope that traders will not have to pass on their secret keys.
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Bitcoincole
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August 09, 2018, 09:22:21 PM |
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The future for exchange will be systems that can better protect the safety of traders. I hope that traders will not have to pass on their secret keys.
No matter how secured the exchange site is, there is always a possibility that it can be hacked since this are online transaction and hackers especially those experts in digital technology. They will always find ways to earn easy money. |
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Kobiniki300
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August 16, 2018, 07:06:50 AM |
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Well when ever an exchange is hacked it causes a really problem and a very big lose so I think exchanges should work very hard to see that they protect themselves from hackers
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Wilamot
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August 17, 2018, 05:13:33 AM |
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I think if a trade gets hacked, everything is influenced so most presumably btc and altcoins gets hacked as well. Contingent upon their arrangement they must be ready to restore a level of your speculation if this happens simply like the end result for South Korea's Youbit as of late. So hacking is a noteworthy test on organizations worked in the web, we are not so much protected and I think would never be.
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Kaller
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August 17, 2018, 12:37:56 PM |
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I think if a trade gets hacked, everything is influenced so most presumably btc and altcoins gets hacked as well. Contingent upon their arrangement they must be ready to restore a level of your speculation if this happens simply like the end result for South Korea's Youbit as of late. So hacking is a noteworthy test on organizations worked in the web, we are not so much protected and I think would never be.
I agree, anytime that an exchange gets hacked, there is always the loss of coins from the exchange which leads to people getting scared that their coins might be stolen and then there are fuds being spread account, this really ends up affecting the market as a whole and the price of the coins. As long as our money are still online, then we will never be free of the threat of hackers. |
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riska hanissa
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September 10, 2018, 08:24:10 PM |
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based on the experience I experienced when I saw that the hacked exchange generally lost the top 10 coins. because the logic of hackers can easily sell on other exchanges, and those that are very vulnerable to hacking are usually BTC and ETH.
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coinbirds
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September 10, 2018, 10:36:49 PM |
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Exchanges are not for storing funds, they are for trading with your funds.
Exchanges can be hacked and you can lose your investment.
Have only the amount you are planning to trade with on exchanges.
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permatasai
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Activity: 93
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September 10, 2018, 10:42:02 PM |
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It is safer to store your crypto in a private wallet than in exchange. I only send crypto to the exchange if I trade the rest. I will send it back to the personal wallet even though it requires a fee to send it for security reasons from hack exchange.
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haydrop
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September 10, 2018, 10:45:13 PM |
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i think all digital currencies are at potential risk of being lost to any exchange hack, damage is not limited to bitcoin alone
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Maricurijohn
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Activity: 294
Merit: 8
The Premier Digital Asset Management Ecosystem
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September 10, 2018, 11:02:07 PM |
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Maybe then our property stored on it will be lost, so I advise only when selling new to transfer the wallet to store in a short time, should not leave them for a long time. Nowadays electronic money is quite dangerous
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Febo
Legendary
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Activity: 2730
Merit: 1288
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September 10, 2018, 11:27:40 PM |
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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.
They are stolen. and then exchanges blacklist them and dont want to accept those coins anymore. Monero dont have transparent ledger and you cant trace coins when they change wallets so Monero cant be blacklisted. |
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hummer113
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September 10, 2018, 11:35:28 PM |
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About major break-ins i have not heard, I hope that the exchange became more protected.
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@baoli
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Activity: 1162
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Base.protocol
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September 10, 2018, 11:40:07 PM |
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It depends on which exchange , in as much as they are susceptible to hack and lost of funs some exchanges have gone ahead to insure their exchange and can pay back individuals when lost occurs
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Base Protocol (https://baseprotocol.org): One Token to Hold Them ALL | [url=https://baseprotocol.
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bravehearth0319
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September 10, 2018, 11:44:17 PM |
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Yes, there were exchanges wherein altcoins had been stolen. Every coin in the exchanges are not exempted to hackers. With today situation and with bitcoin's price which is very low, hackers shift to altcoins. Better not to put every coins in exchanges. I'm sure you don't want to regret.
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NavI_027
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September 10, 2018, 11:59:19 PM
Last edit: September 11, 2018, 01:08:25 AM by NavI_027 |
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I was just wondering about something. From time to time we see exchanges get hacked.
How do you say "from time to time"? So do you think that the frequency of exchanges getting robbed is so often? I don't think so. Anyway, I haven't heard any news saying that a particular exchange was hacked and all of its coins lost. What I heard every rime there are cases like this is that only few coins (1-2) were stolen like this news: https://www.japantimes.co.jp/news/2018/03/13/business/corporate-business/hacked-japanese-cryptocurrency-exchange-coincheck-refunds-customers/#.W5cCq4gRUwgwith 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.
No, if for example btc lost then other coins will not be affected — they will remain intact. But you should be prepared because there's a tendency that exchange will be foreclosed. |
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juljon18
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September 11, 2018, 12:14:27 AM |
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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 assume the exchange makes a decision if they benefit more in the end by paying the customers back and continuing operations or shut down and not pay it back. Your funds will most likely comes down to a business decision. That's why it's better to use large exchanges. They have more to lose. |
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posporo
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★Bitvest.io★ Play Plinko or Invest!
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September 11, 2018, 01:41:52 AM |
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If an exchange gets hacked, i think the altcoins in that exchange will be affected because it is already inside in that exchange so if the whole exchange has been compromised so the body of that exchange will also be hacked.
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abitgelluh
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September 11, 2018, 01:52:22 AM |
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It depends on which exchange , in as much as they are susceptible to hack and lost of funs some exchanges have gone ahead to insure their exchange and can pay back individuals when lost occurs
and what about coinsmarkets? they don't pay individuals, they disappear and run away just after their market is hacked, I see there are hundreds or even hundreds of BTC carried by hackers |
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