Hacked Exchanges since 2011

[VB1001]

In the list above, I think there is only one leading trading platform that has never been hacked: Okex. So it seems to be a reliable exchange?

Okex was also...

https://cointelegraph.com/news/chinese-bitcoin-exchange-okex-hacked-for-3-mln-police-not-interested

Exchange listings are updated.

https://bitcointalk.org/index.php?topic=5090869.0


This is a graphic (and link to the page) provided in my local board (https://bitcointalk.org/index.php?topic=5164463.msg51807982#msg51807982), you can see the areas where there are more hacks. Thx, DdmrDdmr



https://gomedici.com/39-cryptocurrency-hacks-1-93-billion-loss-over-5-years

[fillippone]

Very nice thread VB1001,
I am long been concerned by exchanges, and In my monthly recap I have been telling they are the weakest link on the bitcoin ecosystem.
At a local Bitcoin conference I recently spoke to a “Binance Angel” (sort of binance marketing guy) who told me they were quite explicit on their hack: they disciples the maximum possible information as they think that would help other Exchange.
In my opinion this is only half of the truth as they know there aren’t many exchanges out there with the scale for having a decent security, liquidity  and legal operation the customers and regulators are expecting from exchanges in 2019.
So probably we are going to see a massive push for “Darwinist extinction” of small exchanges, with specs for only 3/4 global players.
This until traditional incumbent decide to enter the space (like Bakkt).
Maybe I have been drifting slightly OT...

[Tim1996]

Yesterday i read a Japanese exchange has been hacked with 32 Mil usd worth of Bitcoins. That is too much. The exchange was owned by  remixpoint INC.

[CryptopreneurBrainboss]

Please, post your comment if you are affected by this unpleasant situation

Till date I haven't been affected by any of the exchange hacking incident although I have used almost all the exchange that have been hacked at one point in time. The secret is already highlighted in the OP above and sang everyday by the community but my individuals seems to ignore that advice. (Not your key, not your coin). Exchanges should only be used for trading & not for holding your assets.

As for a solution, I don't think there's any currently, the only way to minimize the impact is by having a set aside fund to cover up any damages when it occurs just as Binance did. Also a weekly audit of the exchange to search for flaw which hacker can take advantage of might also help. The thing is, all centralized system (exchanges) are liable to hack & if your decentralized exchange gets hacked then it was not decentralized enough unless it has to do with phishing.

[VB1001]

Swedish Crypto Exchange QuickBit Announces User Data Breach

Database issues at the Swedish digital currency exchange QuickBit resulted in a breach of sensitive user data, according to an official announcement published on July 22.

In the announcement, QuickBit revealed that personal data such as names, addresses, email addresses and card information of 2% of its customers was exposed. QuickBit said that no passwords or social security numbers, complete account or credit card information, cryptocurrency or private keys, or financial transactions were exposed or affected.

https://cointelegraph.com/news/swedish-crypto-exchange-quickbit-announces-user-data-breach

Although they say no, it is better to change everything, mail and passwords...

[VB1001]

Crypto Loans Firm Left Thousands of Users’ Financial Data Exposed

Cryptocurrency loans platform YouHodler left millions of records containing private financial data from thousands of users exposed online, researchers found.

In a blog post, vpnMentor said its research team, led by Noam Rotem and Ran Locar, discovered a database leak as part of their web-mapping project and traced it back to YouHodler.

The data, they found, exposed comes to more then 86 million records that includes users’ names, email addresses, home addresses, phone numbers and birthdays. It gets worse. Credit card numbers, CVV numbers, bank details and crypto wallet addresses were also exposed in the data.

“The implications of this breach are extensive,” said the firm.

https://www.coindesk.com/crypto-loans-firms-left-thousands-of-users-financial-data-exposed-online

[bastian466]

It's terrible that in 2019 the number of exchange markets with the highest number was hacked, right?  then is there any exchange that compensates for the loss from the incident

[VB1001]

It's terrible that in 2019 the number of exchange markets with the highest number was hacked, right?  then is there any exchange that compensates for the loss from the incident

This is a very sensitive issue, it depends on the judgment, solvency of the exchange...

Here is a recent and rare case that can be satisfactory for victims of the scam:

Bitpoint Reveals Amounts Stolen, Pledging to Reimburse Users in Crypto
https://cointelegraph.com/news/bitpoint-reveals-amounts-stolen-pledging-to-reimburse-users-in-crypto

[bastian466]

It's terrible that in 2019 the number of exchange markets with the highest number was hacked, right?  then is there any exchange that compensates for the loss from the incident

This is a very sensitive issue, it depends on the judgment, solvency of the exchange...

Here is a recent and rare case that can be satisfactory for victims of the scam:

Bitpoint Reveals Amounts Stolen, Pledging to Reimburse Users in Crypto
https://cointelegraph.com/news/bitpoint-reveals-amounts-stolen-pledging-to-reimburse-users-in-crypto

But Bitpoint has just planned, hopefully the plan will happen, if it's true it will avoid the worries about security being destroyed so that people aren't afraid to trade or invest again in it

[bitbunnny]

It's terrible that in 2019 the number of exchange markets with the highest number was hacked, right?  then is there any exchange that compensates for the loss from the incident

With the increased number of Bitcoin users and exchange users the danger of hacking is becoming bigger. The problem is that exchanges don't invest enough in security and users are not aware enough of all possible illegal activities. It's not only about hacking because of money but also sensitive personal data. And to be honest what exchange protects its users enough or compesates the financial loss.

[Moshaid]

I was hoping to see binance on the list and I saw it hahaha, exchange hack is becoming rampant these days, and no one knows which exchange would be next, so for active traders I think the best shot should still be the top exchanges with safu option incase things like this happens. Exchange hack can't be foreseen but it's always advised not to keep your funds in an exchange. Some exchanges are already working with top tech security company to help give a better security to their exchange which is a good move.

[Nhebu]

The reputation of exchanges become null because of these hackers. You know what? Hackers should be eradicated in this industry because they are ruining the investment and people. A lot of exchanges have died because of them. Though exchanges give their best in order to make their clients or traders happy. They want traders to have sufficient grounds in order to be profitable, yet hackers are collecting money from the hardworks of others. Shame to them.

[bastian466]

It's terrible that in 2019 the number of exchange markets with the highest number was hacked, right?  then is there any exchange that compensates for the loss from the incident

This is a very sensitive issue, it depends on the judgment, solvency of the exchange...

Here is a recent and rare case that can be satisfactory for victims of the scam:

Bitpoint Reveals Amounts Stolen, Pledging to Reimburse Users in Crypto
https://cointelegraph.com/news/bitpoint-reveals-amounts-stolen-pledging-to-reimburse-users-in-crypto

Yes unfortunately this is true about the crypto market and the hacked exchanges. There are many exchanges that have been hacked and I think that it needs to be improved to the highest extent. The constant up gradation of the cyber security system of the exchanges would keep things pretty much secure. This will strengthen the trust in decentralized financial institutes.

Agree, every exchange should increase security even higher than these events should be a lesson for owners of exchange to pay more attention to and maintain the security of customer money and company assets so that there are no more bad events

[Mrengage]

From all that list it means someone who said if we put our money on exchanger, that means we not have control for it anymore. Maybe that is what people want to said, maybe it is bad if we put all our money in exchanger.

In my own advice I don't even let my funds be in any exchanger for the next 24 hours we never can tell what next will happen is good to store your assets in a wallet where you have the private key to or better still sell them to Fiat and keep the Money in the bank.

[Mrengage]

Lots of exchanges are hacked. The biggest exchanges like binance can be hacked. For exchange owners, it should be more secure by giving the best and the best antivirus. So that the assets of investors are not easily stolen.

Truthfully, hacks are becoming more rampant and more sophisticated than before. So many hackers are learning trades and exchanges seems to be the jackpot due to the large amount of transactions and funds on those platforms. Most surprising to me was the hack of Binance. Never expected it.

To safeguard your funds, never put funds on Exchange and never leave a trade on for too long. It's a safe way to have your funds untapped

I thought have seen it all not until a dude of mine got hack on blockchain and even his imtoken wallet. We should be careful regardless of where we store our login information as well as our private keys.

[btc_angela]

From all that list it means someone who said if we put our money on exchanger, that means we not have control for it anymore. Maybe that is what people want to said, maybe it is bad if we put all our money in exchanger.

In my own advice I don't even let my funds be in any exchanger for the next 24 hours we never can tell what next will happen is good to store your assets in a wallet where you have the private key to or better still sell them to Fiat and keep the Money in the bank.

As much as we really stress that important point in this community, there are a lot of inexperience traders who thought that letting their funds sit in a exchange is a good advice, I'm very nervous having $200-$500 worths of funds sit in an exchange. Call me paranoid or something, but I will just immediately move it to a wallet that is safe and that I have control of my keys.

[numanoid]

I thought have seen it all not until a dude of mine got hack on blockchain and even his imtoken wallet. We should be careful regardless of where we store our login information as well as our private keys.

In my own advice I don't even let my funds be in any exchanger for the next 24 hours we never can tell what next will happen is good to store your assets in a wallet where you have the private key to or better still sell them to Fiat and keep the Money in the bank.

Can you spam somewhere else? Post within a day in same thread, answered diferent question with more than 1 post, what did you trying for? You can edit it into 1 post only.

I loss that money if the exchange will be back as I know I'm also at fault.

If the exchange got hacked, it's not your fault but them. You only deposited on there, what's wrong with that?

[VB1001]

https://twitter.com/BeaxyExchange

https://support.beaxy.com/hc/en-us/articles/360033785494-August-12-2019-Trading-Halt

Beaxy Exchange...

[bitbunnny]

Unfortunately the list of hacked exchanges is getting biggee, it's like they are easy prey for criminals. This is a huge problem for users and I beleive exchanges should invest more in security and put more efforts to protect the users. It's an additional investment for them but without that they will not survive.

[Hydax]

Thanks for sharing this information. It is all the exchanges' responses to keep the token safe. While it is always the community to be the faster responser rather than the security team. Power of the security team is limited, power of community is unlimited. That's why we view the community so important.