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Author Topic: More than USD 1.5 bln has been stolen from exchanges. Here’s a recap  (Read 490 times)
bitbunnny
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January 22, 2019, 05:53:41 PM
 #41

some say that the exchange is still vulnerable to theft. but after a lot of theft happened, I also thought that this was a conspiracy, namely whales that took a lot to dump and to the public it was said to be theft. What is your opinion?

This is just another conspiracy theory that has nothing to do with reality. Sometimes I think that whales been given some superpowers.
Exchanges are vulnerable and we are all aware of that. They are perfect target for hackers and there is no conspiracy behind it. It's true that exchanges should do much more on security to protect the funds of their users. And please be aware that hacking exchanges has absolutely nothing to do with blockchain which is a technology. So maybe you should get some information first before setting up theories.

The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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January 22, 2019, 08:26:11 PM
 #42

I havent been affected by any of these hacks because i dont keep any
significant amounts of anything on exchanges although i do have the
dregs of some shitcoins.

We should be mindfull of putting too much trust in exchanges to create
enough security for our coins and tokens.

R


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exstasie
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January 23, 2019, 05:51:18 AM
 #43

Blockchain and exchange hacking has nothing to do with each other.

Blockchain is incredibly safe and its almost impossible to hack a wallet (still technically doable but quite challenging)

One note on this. Established public-private key cryptography which secures cryptographic outputs/addresses (like ECC in Bitcoin) is incredibly safe, at least until quantum computers start brute forcing them.

Blockchains are not necessarily so safe though. Many proof-of-work blockchains have been 51% attacked and users have lost lots of money as a result. It just happened to Ethereum Classic recently: https://cointelegraph.com/news/ethereum-classic-51-attack-the-reality-of-proof-of-work

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January 23, 2019, 04:32:43 PM
 #44

There is a huge difference between "blockchain" as a whole and blockchain as in your wallet. There is a huge difference between attacking a whole blockchain with a 51% attack and trying to brute force your way into a wallet. You can't fathom to think how much incredibly challenging a wallet hacking needs to be and its definitely impossible to do. That is why we have seen many more 51% attacks but no wallet hacks at all since its really not worth the time and effort put into it.

The required amount of power that needs to hack a wallet itself is bigger then need to hack a website which could yield quicker and better results. So, do not mix up hacking a wallet and taking someones money with hacking a whole blockchain with 51% attack and taking control of it somehow.
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January 26, 2019, 08:57:36 PM
 #45

It was a very worrying thing when bitcoin and other crypto currencies were above the sky then fell to the ground when it happened because since then many people were selling large amounts of assets they had because trust in the exchange was lost due to the hacking incident, then did the perpetrators who is known from the attack?
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January 26, 2019, 10:54:11 PM
 #46

I havent been affected by any of these hacks because i dont keep any
significant amounts of anything on exchanges although i do have the
dregs of some shitcoins.

We should be mindfull of putting too much trust in exchanges to create
enough security for our coins and tokens.

Same here . i never experience to get hack because i dont leave my coins on exchange or even on online wallet but im not saying that all users will follow it  .  its bad because if no one will deposit their coins online the value of crypto can also degrade more and more  . keeping coins online is also good if you are an active trader or investor because that saves time to cash in  . 
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