Why Crypto facing hack Every time it recovers??? Govts involved??

[dothebeats]

I don't think so. It's just that hackers are always on the lookout for any potential loopholes or vulnerabilities in an exchange before they carry out the hacks, You simply can't hack something without preparing or studying it, and in the price rises, you can't correctly time it or predict it at all times, so it's far-fetched that this is an attempt to demoralize traders and sell whatever they have. Governments, no matter how good their hackers are, simply aren't gods in terms of everything; it just so happens that some lucky hacker managed to full of a heist and get away with it.

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[jseverson]

It's called recency bias.

...or is it, even? I mean, the Bithumb hack only happened a couple of weeks ago and crypto wasn't recovering then.

This idea may be outrageous to some, but wouldn't it be possible that there are no grand conspiracies against crypto? There will always be antagonists, don't get me wrong, but you don't always need to point your fingers at someone or something. Shit just happens sometimes.

[dutchkay]

I don't really believe that the government have anything to do with the recent hck happening all around exchanges. Though this hacks are becoming something else. Governments eyes are set on cryptocurrency and will do anything to shut it down that's why they use media fud as their weapon. Individual hackers are on the lose every time. Remember that crypto is the new tech with the most money currently and hackers just live to find vulnerabilities in exchanges which they exploit, it's part of their job.

[_bitcoin_papa_]

The government does not manipulate the cryptocurrency market. Most likely, the market is manipulated by large investors who want to force us to sell the cryptocurrency at a low price. Do not pay attention to such news.

[dbravo]

It has some secuirity issues. But, it is gradually developing and it'll be developed very soon. So, let's hope for the best to happen

[LodisMcguire]

When hacker see it's in bull run,they think they will make easy money by hacking and get rid of those coin to fiat.But,it's the exchanger fault i think,they can't protect their fund and security must be top priority when involving money.

[Tmcrypto]

I am not agree with this statement because why government involved with this hack. I think some peoples are research about the market and find out how they can hack coins. Because these coins are so expensive. It creates a bad impact on this market.

[[ProTrader]]

Why crypto space happen to hack hack while its on a bullrun???
We've seen some of the massive hacks in this very short time period.Today also   But it doesn't happen in bearish market. Every time crypto has a bullrun.  Yesterday BTC Kept on Trying to Break above 6800 Resistance.. And today morning another hack on Bancor wallet.. Sespecious... Which is really effecting the current market..
But the Question is. Is the govt trying to manipulate and wanna  kill crypto??? That's why they are doing this???

I think the government has nothing to so with those hacks. They already know that they cannot kill cryptocurrency because they also need the technology to make their work more efficient. What they don't like about cryptocurrency is the decentralization.

[rileyhill]

Why are you blaming government?  I don't think government has to do anything with this hacks. In bearish market hacking will not yield much so it is obvious that the hackers will try to hack it during bull ru to maximize their profit. I think we need to be very careful to prevent it. 

[hermanjones18]

A huge risk in the market of crypto currency is hacking. the reports of hacking increases when the prices of the currency increases, as the hacker can make a profit by selling off the coins. Usually the exchange sites which are unsafe are hacked, therefore investors should store their coins in safe wallets, and be aware from phishing sites

[aizen10]

Why crypto space happen to hack hack while its on a bullrun???
We've seen some of the massive hacks in this very short time period.Today also   But it doesn't happen in bearish market. Every time crypto has a bullrun.  Yesterday BTC Kept on Trying to Break above 6800 Resistance.. And today morning another hack on Bancor wallet.. Sespecious... Which is really effecting the current market..
But the Question is. Is the govt trying to manipulate and wanna  kill crypto??? That's why they are doing this???

i think its not, government doesnt involve on it, its the choice of the hackers, at a certain time, many site got hack and millions of dollars has been get out in just an instant. hackers are every where, they coming thru without warning, meaning the security of every sites are weak to them, even you got improving your security and always update in into most update one, hackers can find another ways to get in into your security. this is not new. the only things that we can do is store your valued coins into an offline wallet.

[iammrash]

It's called recency bias.

...or is it, even? I mean, the Bithumb hack only happened a couple of weeks ago and crypto wasn't recovering then.

This idea may be outrageous to some, but wouldn't it be possible that there are no grand conspiracies against crypto? There will always be antagonists, don't get me wrong, but you don't always need to point your fingers at someone or something. Shit just happens sometimes.

I'm just saying these shits happens every time bitcoin began to recover itself.. So some news are saying government is trying to destroy crypto by these hacks. as they hate crypto currency..  It's a possible conspiracy of many people too..

[jseverson]

-snip-

I'm just saying these shits happens every time bitcoin began to recover itself.. So some news are saying government is trying to destroy crypto by these hacks. as they hate crypto currency..  It's a possible conspiracy of many people too..

I'd say it's infinitely more likely that exchanges are simply vulnerable to hacks because of bad security and/or bad protocols. This has been happening forever, and I don't think any hacking has ever been attributed to any government, except maybe North Korea. I'd also like to note that the Bithumb hack barely moved the market at all despite being fairly big news.

Also, governments have shown that they can place bans to throttle growth. That's a much more effective way of dealing with the "problem" if they truly hated it enough to stage very convenient hackings.

But you know, if you say that's your opinion, then I completely respect it. All of this is conjecture at the end of the day.

[maianh09]

I do not think these are attacks from real hackers. These could be big traps from anonymous marketers who want to get worse in the next period. Investors should rate it and do not panic as things are not over.

[bitcoinman93]

Why crypto space happen to hack hack while its on a bullrun???
We've seen some of the massive hacks in this very short time period.Today also   But it doesn't happen in bearish market. Every time crypto has a bullrun.  Yesterday BTC Kept on Trying to Break above 6800 Resistance.. And today morning another hack on Bancor wallet.. Sespecious... Which is really effecting the current market..
But the Question is. Is the govt trying to manipulate and wanna  kill crypto??? That's why they are doing this???

thinking that governments are bothered enough to pay hackers to steal money from exchanges is such a delusive opinion that I'm not sure you shouldn't be checked by the nearest doctor

[terrific]

Why crypto space happen to hack hack while its on a bullrun???

I don't know, it can be a coincidence but hackers are active 24/7 if they are targeting something big.

We've seen some of the massive hacks in this very short time period.Today also   But it doesn't happen in bearish market. Every time crypto has a bullrun.  Yesterday BTC Kept on Trying to Break above 6800 Resistance.. And today morning another hack on Bancor wallet.. Sespecious... Which is really effecting the current market..

It only means that exchanges need to make their security better than any other. If they won't take action on these incidents, they might be next.

But the Question is. Is the govt trying to manipulate and wanna  kill crypto??? That's why they are doing this???

No, there's no government involved in hacking or if there is, do you have an idea on what it is?

[Saint1990]

IMO government is still learning about cryptocurrency and they are not able to bring any regulations yet, this shows government can not hack the exchanges. Hackers must be technically strong who is following all exchanges and when hackers tracks loop hole they are hacking the exchanges. There is also chance of exchange staffs involvement the hacking this has been happened in the past with mtgoxx. With so many recent hacks, Exchanges need to improve their security and be serious on the this issue as hacking can lead to loss of customers as well as brand & trust of the exchange.

[ClaytonLWils]

The bitcoin will somehow make progress even if the market falls down. So no need to worry much. Hackers will be there always. but we, the traders need to be more careful for keeping our wallet safe.

[Kakmakr]

Why crypto space happen to hack hack while its on a bullrun???
We've seen some of the massive hacks in this very short time period.Today also   But it doesn't happen in bearish market. Every time crypto has a bullrun.  Yesterday BTC Kept on Trying to Break above 6800 Resistance.. And today morning another hack on Bancor wallet.. Sespecious... Which is really effecting the current market..
But the Question is. Is the govt trying to manipulate and wanna  kill crypto??? That's why they are doing this???

It is not the cryptocurrency that is being hacked it is those exchange or wallet providers that are being hacked. I also think that there are fake reports on exchanges being hack but this is not always happening whenever the market is in a run for recovery. We dont know if governments are manipulating the price since we dont have a proof and we dont even know if there are governments that are investing or trading cryptocurrency so no one can answer that.

So you're saying that most of the hacking news are fake??? Someone is trying to manipulate the price by fudding right.. But who is that someone..  On recent govt regulations and bans are making me sespecious that the govt can do anything to stop crypto.. so they can also hire hackers right?

such news only affects the price temporarily and on a small scale. why would government want to affect the price in this way? what would they gain?

these services are shitty on their own. nobody has to do anything, and there is money involved so there is a good incentive for hackers to try them out. and most of these cases are actually false. the exchange scams their users and calls that a hack.

Governments have a lot to gain, when the price are on a constant decline. It will slow down adoption and it will also get under the skin of the current hoarders. Most people are only interested in this technology, because they want to make a lot of profit. <speculators>

I will also not be surprised if large Banks and government sanctioned hackers are involved in these orchestrated hacks on exchanges. Some of these governments can even channel the proceeds of these hacks into military funding or to be used to manipulate the price. <pushing it down with organized dumps> 

[kier010]

government don't get involve in this hacking and crypto are not the one that get hack but exchange sites. when hackers find flaws they will exploit it. exchange sites don't have perfect defense and hackers works everyday.