Exchange Hack - A Bitter Truth for the crypto!

[DES_MX]

Every year, We have been seeing several exchange got hack and lost millions of Dollar! In this year, we already lost almost 80 Million Of USD by Exchange Hacking! Last month, Bancor Exchange was hacked and lost 22-23 Million of USD. Bithumb got hacked for two times in this year and lost almost 40-50 Million Of USD, Etherdelta got hacked at the first of this year and hacker took almost 220K USD!

Every exchange hack is very harmful for the total crypto market! I don't know about bithumb exchange, because i haven't traded there but bancor hack shocked me!

Why this is happening continuosly? We believe exchanges, but sometimes I think Exchange owner hacks those money and they claim exchange got attack by the hacker, they down the site for maintaince or something like that?

What do you think?

[Vaskiy]

This is what we call a fake news, quite often there comes similar news. This is a kind of speculation that is used by whales to manipulate the market of cryptocurrency as it is speculative in nature. When such news roles out automatically a panic wave gets ignited affecting the inflow of investment leading towards downfall. We should not take these into consideration.

[bitmover]

That's really a problem. Exchange Jack is something that it will always happen, as nothing is 100% secure. Unless if the keys are hold offline, that's why bitcoin is amazing.

This is why exchanges are great attack vectors.. only a part of the exchange funds is hold offline

Nobody should keep any money on exchanges. First because they can be hacked. Second because some government may freeze your funds or the exchange funds.