Hackers on the rampage again, 59M $ Stolen

[mhdrcchal]

I just knew that the exchange was hacked, and this is the one reason I never save my crypto on exchanges.
I think $59M is very-very big amount, I hope every exchange increases security and use Two Factor Authentication (2FA).
And i hope nothing like this anymore 

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[Rowena123]

I think it's bad. In this case, Exchange needs to implement security measures for its members to avoid losing more. If this continues, the cryptographic market conditions will worsen.

[ekateriinae]

I think it's bad. In this case, Exchange needs to implement security measures for its members to avoid losing more. If this continues, the cryptographic market conditions will worsen.

I dont think this case will effect bitcoin market. This was exchange fault for very lack in security measurements. They should make a more tight security when it involve a high money. This is an example why we should not trust exchanges too much. im hope investors that losing their money wil get their money back.

[warning_btc]

I dont understand why so hard storing funds on cold storage.
Exchange dont need pay everyday so much moneys to their customers

[longca]

I think the operation of Chinese hackers is also a peril for electronic users in general and bitcoin in general

[ichai]

wow, i think that's a huge amount and it can impact the market. Our market is having a lot of security holes and that's really a bad thing. We need the SEC and the government to participate in this market. We need to be protected and prevent unscrupulous people from stealing money from others.   

[Getcoinsite]

Japanese Exchange Zaif was reported to have suffered some security breach that resulted in about 59.7 M$ being stolen from the exchange. the hackers carted away with Bitcoin (5966), bitcoin cash and some Monacoin. It is not clear yet when or if customers will be fully reimbursed for the losses.
Zaif is operated by Tech Bureau Inc.under a regulated environment by Financial Service Agency- Japans foremost regulatory agency.
It is not likely that the market will react much to the hack ( or maybe it has already as we saw bitcoin slide to 6100 range and back up to 6400$ within an hour or this was caused by the CBOE future closure).
This brings to bear once again the need to never leave some substantial amount of exchanges.

https://cointelegraph.com/news/japanese-cryptocurrency-exchange-hacked-59-million-in-losses-reported
https://jp.reuters.com/article/zaif-tech-bureau-inspection-idJPKCN1M001Y

I believe that this is the problem about having our own security decisions,ever since i enter trading i never store my precious coins in an exchangers instead i bring them back in my wallets after having some transactions because i know that exchangers are more vulnerable from hacking issues

And it keeps me think sometimes that is this really a case of hacking?Or inside attacks?Who knows how we trust this exchagers as they can just make an issue but the truth is they are the one who really hacked the sites?Well i might be wrong but maybe right also

[stayeduptolate]

Japanese Exchange Zaif was reported to have suffered some security breach that resulted in about 59.7 M$ being stolen from the exchange. the hackers carted away with Bitcoin (5966), bitcoin cash and some Monacoin. It is not clear yet when or if customers will be fully reimbursed for the losses.
Zaif is operated by Tech Bureau Inc.under a regulated environment by Financial Service Agency- Japans foremost regulatory agency.
It is not likely that the market will react much to the hack ( or maybe it has already as we saw bitcoin slide to 6100 range and back up to 6400$ within an hour or this was caused by the CBOE future closure).
This brings to bear once again the need to never leave some substantial amount of exchanges.

https://cointelegraph.com/news/japanese-cryptocurrency-exchange-hacked-59-million-in-losses-reported
https://jp.reuters.com/article/zaif-tech-bureau-inspection-idJPKCN1M001Y

Till date we all are aware with the status of bitcoin that there are millions of people around the world who are investing into bitcoin and the reason being that they feel that the investment in which they are investing is the safe place as bitcoin promises to provide safest and the most confidential transactions as it does not involve any third party seizure and provides user anonymity but this thing is misused by some hackers as they stole bitcoin as bitcoin transactions does not involve any third party seizure.

[bitcampaign]

i learned from mtgox even i never believed bitcoin was easy to hack, i always said it could be done only as a FUD or indeed there was an insider who stole it

[Rune]

Exchanges are like the biggest security hold in crypto its so bad that they centralize so much currency in one place its just asking for it.
we need better decentralized exchanges

[WalletPlus]

Really sad to hear that, I was thinking to they encrypt the private keys or do they store them directly into the database. God damn, it was never a better time in history to be a skillful hacker. Nice would be if the exchanges would fake hackers attack just to get this kind of money

[wxa7115]

I just knew that the exchange was hacked, and this is the one reason I never save my crypto on exchanges.
I think $59M is very-very big amount, I hope every exchange increases security and use Two Factor Authentication (2FA).
And i hope nothing like this anymore 

Things like this are going to keep happening, it is inevitable what you need to do is to try to find a way to minimize the risks to yourself, and this is relatively easy if you are a trader that holds his coins for several weeks or months, you do not really need to leave your coins at the exchange, you can deposit your coins, make your trades and then withdraw your coins to an address that only you control.

I know that a lot of people do not like to do this because it takes a lot of time and it takes fees, but when the exchange in which you trade your coins is hacked that is when you truly appreciate all the effort that you made, you need to remember that when you deal with huge amounts of money it takes a lot of time to multiply it but it only takes one mistake to lose at all.

[bit-freedom]

Exchanges are highly targeted by hackers since there are alot of money in there. Therefore, it is really important not to store any coin or token in exchange for the long term.

[Dewi Christie]

That's not the first case of hackers, so I don't think that have much impact on the market. Banks and some fintech company somtimes get hacked like that. Anyway, we should be on the alert all the time because hackers always tend to attack crypocurrency exchange system which contains lots of money.

[Othuke]

There is no cause for alarm. As a cyber expert, I can tell you that the exchanges are secure enough for us all. Exchanges can learn from this news and increase their authentication, though. However, I suspect a foul play from insiders, in this case of the Japanese Exchange Zaif attack.

[Gina Asmira]

I hope that in the future someone can think of an excellent method to solve this problem. This really worries everyone and make Bitcoin less attractive as an investment. I'm so done with hackers!

[kalstarzz]

things like this that scared a lot of people, I think we also need to form a security team to protect all exchanges and crypto. and I'm sure everyone agrees with this even though they have to pay money for this security.

[wxa7115]

There is no cause for alarm. As a cyber expert, I can tell you that the exchanges are secure enough for us all. Exchanges can learn from this news and increase their authentication, though. However, I suspect a foul play from insiders, in this case of the Japanese Exchange Zaif attack.

Each exchange implements their own security and they do this according to their abilities and their budget so it's impossible to make a general statement about the security of exchanges, at best you could make an a statement about the particular security of an exchange and nothing more, however it doesn't matter the level of security exchanges implement when the hack most of the time is done by a person inside the organization.

This is why many people are losing faith in exchanges and want decentralized exchanges to become more popular and to have bigger volume because in a decentralized exchange you are always in control of your private keys unlike what happens with centralized exchanges.

[maianh09]

This is true? There is a great deal of information that suggests that this is just a trap to legitimize Bitcoins of an organization that becomes their own. There is also a lot of information out there that is a way to market down with bad news.

[samuraijin]

I don't believe it at all, even often I hear that a lot of bitcoins are hacked in exchange, of course this can be a news that gives panic to everyone and there is also the possibility of insiders doing theft, that old players know that bitcoin will rise drastically in the year that has been determined, so just consider this a mere joke ...