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Author Topic: Bithumb under attack ?  (Read 160 times)
MoonsGravity
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June 20, 2018, 10:32:44 PM
 #21

I'm glad it didn't really affect the price, I guess people see this as a norm. Too many Bitcoins not in cold storage. I really hope they find the people who did this.
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June 20, 2018, 11:09:39 PM
 #22

thats Sad , im dissapointed , i though that this exchange is too "big" for a hack , but as we can see that happend ;/
There's no such thing as too big for a hack. Few years ago Bitfinex was also hacked.
The hack is really bad for the market but bithumb announced that they will cover the stolen funds of customers so it is just bad as for the reputation of the exchange and the market.
Doesn't seem that bad prices are still up despite of the recent hack. I don't think it'll ruin their reputation i've seen other exchanges get hacked and people still uses them regularly even though they know that these exchanges could be hacked again that's the risk you have to take when your funds are in an exchange.
Reputation would go down but people who don't care would use it still. No one would use a hacked exchange unless they made really good changes. Would you ever use Mt.Gox if it ever came back? Idiots would keep using the riskier exchanges. Let them, you're not loosing anything and they are, and they know they are the reason why they are losing their money.

thats Sad , im dissapointed , i though that this exchange is too "big" for a hack , but as we can see that happend ;/
No you're not. You just saying bullshit. Get outta here, you doodoo.


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coinluisa
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June 20, 2018, 11:24:41 PM
 #23

Just got a text and email from Bithumb :
Quote
Bithumb urgently ask our valuable customers not to deposit any fund into Bithumb wallet addresses for the time being.

We noticed that between last night and today early morning,
about 35,000,000,000 KRW worth cryptocurrencies have been stolen.
However, this loss will be compensated by Bithumb's own reservoir,
and all assets of our customers are securely saved in Bithumb’s cold wallet,
hence all asset is completely safe and secured.

However, due to implementing enhancement as well as undergoing safety check on deposit/withdrawal services, cryptocurrency deposit/withdrawal and KRW withdrawal service will be halted for time being and until services are thoroughly reviewed.

Further announcement will be made in due course.

We sincerely apologise for the inconvenience.

Our priority is to secure our customers asset at all time,
and we will continue our best to better serve our customers.

Thank you.

That's about 32 millions stolen.
Its sad to see and hear that kind of news, I hope they recover this kind of situation and for the hackers karma is every where and it will hunt you forever. That's why we need to be extra careful because we don't know when hackers will be attack.

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June 21, 2018, 01:35:56 AM
 #24

This bad news only make the market crash a few hours and the price of crypto back to bullish at the moment,  look like crypto community still strong and bullish trend will continue, although any bad news but the price still uptrend and this is good thing for crypto market.

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June 21, 2018, 03:10:38 AM
 #25

Wow, this is very sad. Exchanges getting hacked are something that keeps on occurring in crypto and it's so bad. Anyways I hope they can get some amounts to compensate back people who have their coins affected.

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June 21, 2018, 03:36:07 AM
 #26

that really bad news for us now the price like gonna be down more
$35 million WOW ,, hacker being unsettle nowday
better if we put our ballance or coin/token in cold wallet
saving in exchange now be worrying
but the good think the will recover what their costumer lost

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June 21, 2018, 05:12:33 AM
 #27

It's a very bad news in the current situation. Bithumb is a one of big exchange in Korea. Although I don't like to trade in Bithumb. Becuase my experience in Bithumb was not good. However, not only Bithumb but also all the exchange should increase their security, so we can trade without any worry.

MINTER - WE MINT COINS AND CREATE THE INTERNET OF MONEY
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June 21, 2018, 05:39:01 AM
 #28

$32 million stolen funds is not that seriously affect the Bitcoin price despite of this recent hacking. But it is quite alarming because even the best exchange can be hacked. But the good thing is they are going to cover the stolen funds. Unlike other exchange that just disappeared. All exchanges should do this also so people who are using their service are insured. Anyway, the error was at their side. So people should not suffer from that loss.


If it was the "best" exchange then it should not be hacked. What makes an exchange "the best" in your opinion? The biggest?

I believe the best exchange was BTCe. It had enough liquidity for users to trade in high volume, it was also the most secure and was not hacked once but I could be wrong, plus it respected users' privacy.

Too bad it was really part of a money laundering operation. Lips sealed


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June 21, 2018, 06:51:23 AM
 #29

condolence to those who have lost their money, this is why I don't recommend using an exchange as a way to store btc/altcoins.
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June 21, 2018, 07:09:02 AM
 #30

Eventhough the Bithumb was attacked i do really admire with their professionalism and their customer support, there is a big risk in running an online exchange site but compensating the customer's losses is quite remarkable unlike those incident way back 4 years ago like those with the Mt. Gox where customoer were left hanging on where to recover their losses. A good customer support indicates a good reliability.
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June 21, 2018, 07:12:37 AM
 #31

Might be a DDOS I believe
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June 21, 2018, 08:51:58 AM
 #32

Excellent response shown by Bithumb to compensate the users loses with big amount of money, perhaps this responsibility of Bithumb drive the effect to Bitcoin price increasing recently.
Yes, market prices are rising today. When I heard the news of Bithumb being attacked, I panicked and sold my bitcoin asset because I thought the price would fall.
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June 21, 2018, 10:42:08 AM
 #33

Fortunately, they used their money to cover the loss. Centralized exchanges will still be attacked by hackers, no way. Security systems cost a lot and they need a bank like security system, not sure they can afford it.
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June 21, 2018, 01:31:55 PM
 #34

Oh this is a huge amount, i think new exchanges should focus on the security first so they can assure safety to their customers, if any customer dont find any security then how they can join new exchanges instead of using the old ones, so i suggest new traders to review the exchange first before using it.
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June 21, 2018, 01:45:40 PM
 #35

condolence to those who have lost their money, this is why I don't recommend using an exchange as a way to store btc/altcoins.
No customer will lose their money because Bithumb promised to cover all the stolen coins using their own funds.

This bad news only make the market crash a few hours and the price of crypto back to bullish at the moment,  look like crypto community still strong and bullish trend will continue, although any bad news but the price still uptrend and this is good thing for crypto market.
Yes, the hacking only caused a slight drop from $6750 to $6650 yesterday, perhaps the full compensation policy minimized the effect. There was also the Tether FUD clarification that brought the price back up to $6800.
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June 21, 2018, 02:10:46 PM
 #36

Excellent response shown by Bithumb to compensate the users loses with big amount of money, perhaps this responsibility of Bithumb drive the effect to Bitcoin price increasing recently.
Yes, market prices are rising today. When I heard the news of Bithumb being attacked, I panicked and sold my bitcoin asset because I thought the price would fall.


Well it's their responsibility anyways to make sure that they're users' funds are secure. And bithumb being one of the largest exchanges in korea is just right in acting the way they did.

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June 21, 2018, 02:30:57 PM
 #37

Just got a text and email from Bithumb :
Quote
Bithumb urgently ask our valuable customers not to deposit any fund into Bithumb wallet addresses for the time being.

We noticed that between last night and today early morning,
about 35,000,000,000 KRW worth cryptocurrencies have been stolen.
However, this loss will be compensated by Bithumb's own reservoir,
and all assets of our customers are securely saved in Bithumb’s cold wallet,
hence all asset is completely safe and secured.

However, due to implementing enhancement as well as undergoing safety check on deposit/withdrawal services, cryptocurrency deposit/withdrawal and KRW withdrawal service will be halted for time being and until services are thoroughly reviewed.

Further announcement will be made in due course.

We sincerely apologise for the inconvenience.

Our priority is to secure our customers asset at all time,
and we will continue our best to better serve our customers.

Thank you.

That's about 32 millions stolen.


It was sad news.Whenever the price of bitcoin start to raise,this type of news give negative effect to the price.Then the new investor reduce their involvement in trading.It finally start to reduce again.So holding at this dump is very good.This was the huge amount stolen by the hackers.
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June 21, 2018, 03:45:23 PM
 #38

Just got a text and email from Bithumb :
Quote
Bithumb urgently ask our valuable customers not to deposit any fund into Bithumb wallet addresses for the time being.

We noticed that between last night and today early morning,
about 35,000,000,000 KRW worth cryptocurrencies have been stolen.
However, this loss will be compensated by Bithumb's own reservoir,
and all assets of our customers are securely saved in Bithumb’s cold wallet,
hence all asset is completely safe and secured.

However, due to implementing enhancement as well as undergoing safety check on deposit/withdrawal services, cryptocurrency deposit/withdrawal and KRW withdrawal service will be halted for time being and until services are thoroughly reviewed.

Further announcement will be made in due course.

We sincerely apologise for the inconvenience.

Our priority is to secure our customers asset at all time,
and we will continue our best to better serve our customers.

Thank you.

That's about 32 millions stolen.
Another hackers accomplishment, if this is true, anyway it sounds good that the exchange are announcing the security of all customers assets to drawback the confidence level of the customer that is why  refrain in storing your coins in exchange because it is hackers number one priority target.
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June 21, 2018, 05:50:59 PM
 #39

Just got a text and email from Bithumb :
Quote
Bithumb urgently ask our valuable customers not to deposit any fund into Bithumb wallet addresses for the time being.

We noticed that between last night and today early morning,
about 35,000,000,000 KRW worth cryptocurrencies have been stolen.
However, this loss will be compensated by Bithumb's own reservoir,
and all assets of our customers are securely saved in Bithumb’s cold wallet,
hence all asset is completely safe and secured.

However, due to implementing enhancement as well as undergoing safety check on deposit/withdrawal services, cryptocurrency deposit/withdrawal and KRW withdrawal service will be halted for time being and until services are thoroughly reviewed.

Further announcement will be made in due course.

We sincerely apologise for the inconvenience.

Our priority is to secure our customers asset at all time,
and we will continue our best to better serve our customers.

Thank you.

That's about 32 millions stolen.


It was sad news.Whenever the price of bitcoin start to raise,this type of news give negative effect to the price.Then the new investor reduce their involvement in trading.It finally start to reduce again.So holding at this dump is very good.This was the huge amount stolen by the hackers.

I do not see significant effect of this to bitcoin price. The price is still at the same condition before the hack of bithumb even if there is a drop but it is not that much which is still normal.
No need to worry, even if the hack affects bitcoin price into big dump then it will be good time for us to buy. Smiley

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June 21, 2018, 06:55:50 PM
 #40

Hmm yes even i got a email similar to this because even i have account in Bithumb. I got to know this from one of the social media sources that Bithumb is got hacked by the attackers and they have stolen Cryptocurrencies of almost 30 Million USD ad because of this news spreading in the market the bitcoin prices began to slip down and now it is trading below $6800 and i think it is preparing to go more downside if the $6400 level breaks down. I personally feel that the bear market has started now.

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