Bithumb 30 Million Hack

[creeps]

Just in time to kill the momentum and take us back to 6500, this hack happened, people panic sold, but the fact that Bithumb inmediatly took charge of the situation, moved resources to cold wallets and assured clients it would cough up the 30 Million to cover losses, is pretty empowering for the industrya and goes to show that a lot of the big players are here for the long term and are willing to build a new reputation not only for themselves but also the industry, trying to make it a more professional space, and not just a parade of endless unresolved scams and hacks.

this hack case is what makes many people afraid to invest in crypto, for the future, crypto technology must be made as safe as it is, so that everyone can believe in crypto, we do not want to see crypto be destroyed, this lesson for us all

Now we are seeing the market on red again, people are really panicking and they think it will continue to crash but I think the market will not dump so much because of this news. We really need a more secure exchanges so investors will trust cryptocurrency again and don't worry because crypto will not be destroyed by this scams, this market will still grow despite of this challenges.

[romeo88]

Do not worry, this trading exchange is not much bitcoin, the price of bitcoin will not decrease much. do not sell

[bit..what?]

Do not worry, this trading exchange is not much bitcoin, the price of bitcoin will not decrease much. do not sell

Good to know. I would not sell because of such news.
I'll wait and see what happens.

[Gabteb]

At this moment when BTC was very near 7k and we could go higher ,seems all centralized exchanges must go to decentralized or we will see this again and again.

[muid03]

Twitter gas Been deleted... their website also no announcement?.. they Must keep the coin in hot wallet.. the most secure exchange mau be cryptos... but withdrawal time need longer time...that is pros n Cons of security...

[anggaem]

it's so sad news for this day, I can only hope that everyone does not panic but that seems impossible.

[passivebesiege]

Is it not the old news? I think bithumb or some other korean exchange got hacked few weeks back.One bad news after other.,making the market go down further.It's better to lock the wallets and forget about the market for few months

Forget about the market for few months? I think I wouldn't do that, there is possible that you missed the chance if you decided to forget about the market.

[Moiyah]

Makes sense that the price where I expected it to be bull in a few days were suddenly broke the price of 6500. Not until I discovered this bithumb hacking issues. I wonder what assurance of that 20million that been lost to the people. I also assumed there are still hacked amount before they come to know it.

[burakdat]

This is really bad news to cryptocurrency on having a news like this. This is one of the reason why people will turn their heads away on cryptocurrency. It is somehow not good but it is reality that crypto could be taken away from the result of vulnerability of the digital wallet or the exchange from the expert hackers around the world. Even establish exchange and wallets could be vulnerable if they are not lucky enough from the hackers breaching out their system.

[laiya94]

We have to give our respect to Bithumb because even it was hacked the team able to repay all loss to traders. I see this as a good manner in the crypto world.

[jan.nicolas]

Today this is probably the most discussed news, which in general exists, so there can only be one, to lower the price of bitcoin down, because selling such a quantity of money to fiat through bitcoin is always a price reduction.

[xclusiveguy]

This hacking is getting too much, few weeks ago it was coinraill hacking in which about $40 million was stolen, if this hacking issues on exchanges continues it will be somewhat  hard for new comers to invest in crypto

[mmo_online_1981]

Just in time to kill the momentum and take us back to 6500, this hack happened, people panic sold, but the fact that Bithumb inmediatly took charge of the situation, moved resources to cold wallets and assured clients it would cough up the 30 Million to cover losses, is pretty empowering for the industrya and goes to show that a lot of the big players are here for the long term and are willing to build a new reputation not only for themselves but also the industry, trying to make it a more professional space, and not just a parade of endless unresolved scams and hacks.

Bithumb has announced the official and planned treatment
At the moment, there are quite a few unsafe exchanges! Care should be taken to ensure that no investment is lost.

[bartolo]

Just in time to kill the momentum and take us back to 6500, this hack happened, people panic sold, but the fact that Bithumb inmediatly took charge of the situation, moved resources to cold wallets and assured clients it would cough up the 30 Million to cover losses, is pretty empowering for the industrya and goes to show that a lot of the big players are here for the long term and are willing to build a new reputation not only for themselves but also the industry, trying to make it a more professional space, and not just a parade of endless unresolved scams and hacks.

This will also be a relief for the users of that exchange since they will not lose their funds. It's fundamental that the exchanges cover the damages caused by these attacks. It's also very important that they investigate how it has happened so that they can reinforce their security measures and prevent this from happening again.

[eagleman]

Bitcoin is still tight on $6,759 so this hack doesn't seem some effect.
There's a jump to the market cap yesterday and the fees for sending bitcoin today was up due to this hack.

[Wearegoodfrends]

This is a very unpleasant situation. The credibility of the cryptocurrency right now is not high, and the news even more worsen the situation. The result is natural - all the coins are red.

[krauzzer02]

Coinrail last time then Bithumb now which is top 25 in volume to bitcoin markets it may slightly affect the price because of the FUD's and exaggerated news, I wonder why exchanges got that hacked easily, I mean 30 million is not a joke amount of money, exchanges these days needs to implement strict and tight security to protect its customers from those greedy hackers, I hope they took an immediate action towards these incidents like the other exchange did.

[nl247]

It was really a good thing to see them handle the situation in a highly professional manner and I believe the move doused the tension a little bit in which we all know occasions like this normally would have caused some panic selling and although I did see some little bit volume on the sell side earlier today, it did not go too far. The whole hack thing on exchanges though, is actually becoming worrisome which brings about the question, who is next? I hope the exchanges can do much more to increase the security of the platform.

[felipe04]

If this is true the impact in price of market is big

FUD or real the btc will drops by this news about hack of bithumb

we need to wait because some users don't worry about FUD or hack accusation

[niteroy]

This is really sad news, but it is encouraging that the management of the stock exchange reacted promptly and took the necessary measures to minimize the consequences of this theft. The statement of Charlie Lee:
"Another day, another hack. Hopefully BitThumb is able to cover this amount, though $30MM is not a small amount. As I've said many times, be smart and only keep on exchange coins that you are actively trading. It's best to withdraw right after trading."
https://twitter.com/SatoshiLite/status/1009243386790834176