cryptocurrency exchange hack

[cryptoscion]

Hackers mostly attack on exchanges because they have many ways to attack but main is DDos attack which hackers do most of time so we need to always be aware about it and use Two 2FA(two factor authentication) on login and withdrawal and store only that coin exchange which u wanna trade and rather use Hardware wallet for store Ur cryptocoins.

[1713993693]

1713993693

[1713993693]

1713993693

[1713993693]

1713993693

[thangthoa]

Bitcoin is the most futuristic currency in the virtual currency and will also be the most advanced currency. MY OPINION

[Macon Bargeman]

 The only damage these hacks cause are reputational and of course, material damage in a sense of stolen funds. Cryptography and blockchain are unhackable (at least with the technologies and hacker knowledge of current era).
 That is why we need changes in the cryptocurrency ecosystem. Centralized exchanges need to be dethroned and put down the pecking order in the hierarchy.

[Tryphena5358]

This electronic money exchange hack is affecting the current market scenario. Now is the time to control this hacking by bringing security technology to protect all those eager money enthusiasts.

[mekie]

It is time the exchanges took a more serious and professional look at their security. There have been many publicly acknowledged attacks and almost certainly many unreported ones or attempted ones. The exchanges should employ a team of hackers to attempt to find vulnerabilities in their systems and advise them as to solutions-until they do the problem will only get worse. 

[genuin]

Every year there is an average theft of assets in an exchanger. Hackers have started the action in 2016. There are many victims who have lost the coin. I remember the "cryptsy" event, it was terrible.

[SistaFista]

Although storing your coins in the exchange wallet seems safe, but it is not impossible for some hacking activity.
I remember some exchanges have been hacked few months ago, but they were quickly take any further action to prevent more damage.
If you want to store your coins for long, i suggest not store it in the exchange wallet.

[Charmainekiss]

We had to watch Bitcoin jump to $ 10,000, but due to electronic money exchanges hacked one by one coins rather than bithumb and now I'm wondering who will be next. The market has shown weakness because of the news that many investors are concerned about their capital loss and tendency to sell to the market leading to price cuts. As btc wrote this has shown considerable change with the upward trend. It seems to me that a large part of the blame for hacking the exchange lies with the leadership of the exchange. Exchangers should have kept their money in the refrigerator for a long time.

[holtzmann]

This electronic money exchange hack is affecting the current market scenario. Now is the time to control this hacking by bringing security technology to protect all those eager money enthusiasts.

Yeap, I agree. That exchange which was hacked has likely strengthened its security features already. The other thing is trust. It's obvious that it has lost many of their customers which could have an impact on the btc price.

[cancoinl2]

Although storing your coins in the exchange wallet seems safe, but it is not impossible for some hacking activity.
I remember some exchanges have been hacked few months ago, but they were quickly take any further action to prevent more damage.
If you want to store your coins for long, i suggest not store it in the exchange wallet.

Yeah, it is. For example, CEX has suffered one hacking incident in 2013, but it happened at the time they made their first steps. Since then there were no incidents, and the company has worked really hard on their security.

[prikitiw]

Bitcoin eased further on Wednesday following its initial drop after the weekend announcement that South Korean cryptocurrency exchange had been hacked.

Other major cryptocurrencies also weakened markedly.

Bitcoin traded as low as $6,455.91 early on Wednesday Asia time, its lowest level since April. Bitcoin pared some of those losses to trade around $6,581.88 by 3:15 p.m. HK/SIN, according to CoinDesk.

Bitcoin had fallen around 10 percent over the weekend following news that South Korean exchange Coinrail had been hacked, with a number of lesser-known cryptocurrencies such as Pundi X counting among those affected. Bitcoin, however, was not mentioned by the exchange in its statements, according to Google translate.

The continued downward move was unlikely a result of last week's hack, which saw a limited level of damage caused, said Mati Greenspan, senior market analyst at eToro.

"The narrative that such a small hack caused such a large price reaction has definitely been overplayed," he said, adding that bitcoin's drop on Sunday was caused by a technical correction.

Over the last 24 hours, Bitcoin has seen a dip of around 4 percent, according to CoinMarketCap. So far in 2018, the cryptocurrency is down more than 50 percent.

Chart analysts have indicated that bitcoin's move below the $7,000 mark suggested a speedy recovery was unlikely.

As for other crypto assets, the last day has proven challenging.

Ethereum, the second-largest cryptocurrency by market capitalization, was down almost 7 percent in the last 24 hours, CoinMarketCap data showed. Ethereum stood at $496.47 at 3:15 p.m. HK/SIN, according to CoinDesk.

Ripple was lower by nearly 6 percent in the last 24 hours, according to CoinMarketCap. It traded at 56 cents at 3:15 p.m. HK/SIN.

News hacking from exchangers always has a tremendous impact on the price of bitcoin, so it can be used by some people for price manipulation in the crypto market. Obviously it will easily create panic sales, in my opinion.

[Bennix]

The truth is many exchanges are running centralize system,and that is reason for the series of hack on crypto exchange.
Many exchanges are not using multi security measures.I advocate for decentralized system because In decentralized exchange,one controls his private keys,but in centralized exchange the private keys are kept on server,and once the server is broken by hackers,people will loose money.

[joebrook]

The truth is many exchanges are running centralize system,and that is reason for the series of hack on crypto exchange.
Many exchanges are not using multi security measures.I advocate for decentralized system because In decentralized exchange,one controls his private keys,but in centralized exchange the private keys are kept on server,and once the server is broken by hackers,people will loose money.

It's behooves me to how exchanges are always being hacked almost all the time and the operators of these exchanges never seem to learn anything about how to prevent these kind of hacks.  They should be made to return the hacked crypto to their customers if these kind of things happens.

[H1N1]

Bitcoin eased further on Wednesday following its initial drop after the weekend announcement that South Korean cryptocurrency exchange had been hacked.

Other major cryptocurrencies also weakened markedly.

Bitcoin traded as low as $6,455.91 early on Wednesday Asia time, its lowest level since April. Bitcoin pared some of those losses to trade around $6,581.88 by 3:15 p.m. HK/SIN, according to CoinDesk.

Bitcoin had fallen around 10 percent over the weekend following news that South Korean exchange Coinrail had been hacked, with a number of lesser-known cryptocurrencies such as Pundi X counting among those affected. Bitcoin, however, was not mentioned by the exchange in its statements, according to Google translate.

The continued downward move was unlikely a result of last week's hack, which saw a limited level of damage caused, said Mati Greenspan, senior market analyst at eToro.

"The narrative that such a small hack caused such a large price reaction has definitely been overplayed," he said, adding that bitcoin's drop on Sunday was caused by a technical correction.

Over the last 24 hours, Bitcoin has seen a dip of around 4 percent, according to CoinMarketCap. So far in 2018, the cryptocurrency is down more than 50 percent.

Chart analysts have indicated that bitcoin's move below the $7,000 mark suggested a speedy recovery was unlikely.

As for other crypto assets, the last day has proven challenging.

Ethereum, the second-largest cryptocurrency by market capitalization, was down almost 7 percent in the last 24 hours, CoinMarketCap data showed. Ethereum stood at $496.47 at 3:15 p.m. HK/SIN, according to CoinDesk.

Ripple was lower by nearly 6 percent in the last 24 hours, according to CoinMarketCap. It traded at 56 cents at 3:15 p.m. HK/SIN.

Well, even you store your coin in exchange wallet, it won't make your coin more secure because of it.
Recently, i read there were japanese exchange got hacked and causing million dollars loss.
The most safe wallet is your own wallet, that you never use using your key, like hardwallet.

[sawree6]

Hacks happen all the time. Centralized exchanges are especially vulnerable to phishing strategies. Even the most protected platforms had some issues – CEX was once hacked at its initial stage. But the company has learned the lesson and now offers the highest standards of security. Now traders are not affraid to buy crypto (https://cex.io/btc-usd) and store coins at their cold storage.

[beliomir]

Centralized exchanges were hacked, but were there any decentralized exchanges hacking?

[mlsbd]

Some small Korean exchange get's hacked, big freaking deal...
This is how you create fud.

Korean and Japanese exchange hacked i heard most of the time about both of specially those countries. I think 2 months ago zaif (Japanese exchange) hacked https://zaif.jp/ now again it's come back nicely.

[mlsbd]

Centralized exchanges were hacked, but were there any decentralized exchanges hacking?

Decentralized exchange hacked possible. Etherdelta is hacked in the last year https://www.ccn.com/the-etherdelta-hack-hurts-but-it-could-have-been-worse/. Bancor is hacked in this year with reference https://www.ccn.com/decentralized-crypto-exchange-bancor-hacked-12m-in-ether-stolen/

[Gary Levanevskii]

Hackers every day are becoming an increasing problem for cryptocurrency. I think that exchanges should worry about the safety of their users' funds and not to neglect security.

[mensahkkofie]

Centralized exchanges were hacked, but were there any decentralized exchanges hacking?

Gone were the days that I used to trust these decentralized exchanges. The rate at which some exchanges get hacked is sometimes alarming, you may wonder how possible it is for individuals to  hack their security systems with ease.