What Do You Think Recent Hacking Incidents?

[CRYPTO EVEREST]

Recently, hacking incidents occur frequently. I don’t know if you have ever worried about your wallet being stolen. How do you think about hacking incidents?

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The First News
According to statistics, the loss caused by hacking in the cryptocurreny market in the first quarter of 2018 reached 670 million dollars, which has risen to 1.1 billion dollars in the second quarter.

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Today, AcFun, a Chinese video sharing website, announced to users that the site had been hacked and that nearly ten million user data had been leaked.
According to the screenshot, the user information of the A station is now sold on the dark net, and the information of the suspected mono bike users is also leaked. In the sale stickers, the hacker statement only supports the bitcoin transaction.


The Second News
The 360 team recently reported that hackers had stolen $20 million worth of ETH.
360 Netlab experts stated that the goal of these cyber-attacks is insecure Ethereum nodes. As early as March 15, 360 Netlab reminded the cryptocurrency community that hackers were searching for insecure Ethereum nodes on the Internet, when cyber criminals stole 3.96 ETHs. However, a recent study found that another hacker successfully stole 38,642 ETHs worth about $20 million.

https://twitter.com/DataBreachToday/status/1006595738178994177/photo/1?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fmedium.com%2Fmedia%2Fc933adbd6d20d8e0de126f91521a5b1f%3FpostId%3D9a08d219026

In my opinion, these hacking incidents are also one of the reasons why the price of bitcoin fell. Remember when in January 2018, the currency trading volume can reach more than 200000, but now, trading volume is extremely low, only 2000 deal, at least the more than 200 volumes, the BTC said prices fell because no more and more people are willing to buy it.

https://cdn-images-1.medium.com/max/800/1*Fqz8uYh3LPEsyau7NbQ_Xg.png

Because many people think that it is useless to analyzing the price of bitcoin, sometimes bad news can lead to a bitcoin crash.
Finally, for the recent price of bitcoin, I think it is a problem that bitcoin can stabilize at $6,500. To be honest, I still hope bitcoin will slowly come back.

https://cdn-images-1.medium.com/max/800/1*FPfWyF3At27BtL80nk_aJw.jpeg


If you have different opinions, you can reply after reading.
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[PsylockReborn]

Those incidents made crypto look bad in the eyes of the people who doesn't know anything about the currency. That is why, it's really hard for crypto to go mainstream as a currency or even as a reliable store of value  aside from being volatile, its because of some vulnerabilities that are mainly caused by human errors or incompetence in safeguarding and creating security softwares to prevent these kinds of attacks to exchanges and wallets of investors.

[trobin]

I don't think that these hacks are entirely the reason behind the fall in the price of bitcoin but they definitely contribute. I think mostly they hold back the price because they scare investors from investing in to cryptocurrencies for fear of being on the end of one of these such hacks. Once security and regulation is stricter than it is currently some of these investors may feel safe to enter the market.

[paogege]

I think this may be the strength of the government. I don't think ordinary hackers can do it. I think that may be the hacking team of the whole country. Because the government is afraid of the cryptocurrency.

[joshy23]

The word itself already affects people's point of view about this currency, this recent incident regarding to those hacks are keeping new investors away and letting weak holders to sell out and move away, but for those who understand the meaning of fud and still believing with this chain this common scenarios already happen before and Bitcoin still surviving.

[deep4u]

This type of incident happens to cryptocurrency market most often that does not mean that market is totally over, actually it's good time to buying some coins market will start recovering soon.

[itrade777]

It is unfortunate but hacking is really consider one of the reason why the market of cryptocurrency are going down. Investors now are losing the trust to risk huge because of the recent hacking events. Even in my experience I was hacked on my MEW through fishing even it is small amount this believe that we need some improvements regarding our security system.

[xianbits]

These hacking incidents should be a move to make all our accounts more secured. I don't really know how to do it but since the problem is security, maybe we still need to find better ways to secure our existing accounts even better.

[Docbee]

Preventive measure for future attack should be put in place to prevent incidence like this it make crypto look incompetence to become new currency that will eliminate fiat currency.

[CRYPTO EVEREST]

Those incidents made crypto look bad in the eyes of the people who doesn't know anything about the currency. That is why, it's really hard for crypto to go mainstream as a currency or even as a reliable store of value  aside from being volatile, its because of some vulnerabilities that are mainly caused by human errors or incompetence in safeguarding and creating security softwares to prevent these kinds of attacks to exchanges and wallets of investors.

Sure it does. Security is an obvious problem for most cryptos.

[CRYPTO EVEREST]

I don't think that these hacks are entirely the reason behind the fall in the price of bitcoin but they definitely contribute. I think mostly they hold back the price because they scare investors from investing in to cryptocurrencies for fear of being on the end of one of these such hacks. Once security and regulation is stricter than it is currently some of these investors may feel safe to enter the market.

Yep, security and regulation need time to improve.  I would like to invite u to join our Telegram Group and discuss together: https://t.me/CRYPTO_EVEREST

[CRYPTO EVEREST]

I think this may be the strength of the government. I don't think ordinary hackers can do it. I think that may be the hacking team of the whole country. Because the government is afraid of the cryptocurrency.

LOL interesting idea. If it's true, the hacking team really needs lots of resources.  I would like to invite u to join our Telegram Group and discuss together: https://t.me/CRYPTO_EVEREST

[gudvin1988783]

With such hacker attacks, the cryptomir will continue to move down. I believe that exchanges need to do something about this and increase security services. In the same way, these attacks can come from state services.

[CRYPTO EVEREST]

This type of incident happens to cryptocurrency market most often that does not mean that market is totally over, actually it's good time to buying some coins market will start recovering soon.

I agree with u. CZ also said recent market is like the pattern in 2014. I would like to invite u to join our Telegram Group and discuss together: https://t.me/CRYPTO_EVEREST

[Haunebu]

I don't think that these hacks are entirely the reason behind the fall in the price of bitcoin but they definitely contribute. I think mostly they hold back the price because they scare investors from investing in to cryptocurrencies for fear of being on the end of one of these such hacks. Once security and regulation is stricter than it is currently some of these investors may feel safe to enter the market.

I agree with what you are saying. Hackers stealing and selling Ethereum has definitely led to a drop in the value of Ethereum which has affected the entire market directly, but this is simply one of the reasons why Bitcoin is falling in value. The other major reasons include the prolonged bear market this year which is leading people to think that 2018 is the reverse of 2017 scaring off many investors and forcing current investors to cash out their profits as quickly as possible. The bear market will not continue indefinitely and I am expecting a reversal by August this year.

[klaaas]

Nothing new, It is happening in the banking world it is happening in the crypto world. Where banks got the power to jump back and erase or modify transactions it is just that aspect that we like.  dont trust others with your funds or if you need to as short as possible.

[LemonF3]

Those incidents made crypto look bad in the eyes of the people who doesn't know anything about the currency. That is why, it's really hard for crypto to go mainstream as a currency or even as a reliable store of value  aside from being volatile, its because of some vulnerabilities that are mainly caused by human errors or incompetence in safeguarding and creating security softwares to prevent these kinds of attacks to exchanges and wallets of investors.

You are indeed true fellow. It will surely affect the credibility of crypto currency. Thus affect the price of crypto currency for others will be scared. I hope some people will just do what is right and just.

[Destroyeroff98]

This is very bad, because everyone can be in the place of the victims of hackers. And in general, this means that it's time to move to a new level of protection.

[CRYPTO EVEREST]

With such hacker attacks, the cryptomir will continue to move down. I believe that exchanges need to do something about this and increase security services. In the same way, these attacks can come from state services.

Agree. Security is quite significant to exchanges. CZ said the security of Binance customers is the core of his work.

[trobin]

I don't think that these hacks are entirely the reason behind the fall in the price of bitcoin but they definitely contribute. I think mostly they hold back the price because they scare investors from investing in to cryptocurrencies for fear of being on the end of one of these such hacks. Once security and regulation is stricter than it is currently some of these investors may feel safe to enter the market.

I agree with what you are saying. Hackers stealing and selling Ethereum has definitely led to a drop in the value of Ethereum which has affected the entire market directly, but this is simply one of the reasons why Bitcoin is falling in value. The other major reasons include the prolonged bear market this year which is leading people to think that 2018 is the reverse of 2017 scaring off many investors and forcing current investors to cash out their profits as quickly as possible. The bear market will not continue indefinitely and I am expecting a reversal by August this year.

There have been many tokens and hacks it's just not reasonable to think they're entirely the reason. The amounts alone aren't close to being enough to put such a dent in the market given that the market cap is so high. They probably don't force many people in to selling because most in crypto know the risks, it's just they put off others.