Binance hacked. How can this affect altcoin market?

[Adriano2010]

In my opinion i think will not affect so much the altcoin market and also bitcoin not look affected, and even if someone sell the stolen coins i think will try sell little by little and can't affect so much the price.

[misterjo]

it seems that the hack did not affect bitcoin, on the contrary it has made it rise with force but the altcoins did suffer enough (they fell too much) especially BNB

[seleme]

The side effects already started to show up. Latest hacking news was a bad experience considering the bullish aura on the crypto market. Binance already refunded the losses to the investors who lost the funds on the last event and this is part of the exchange SAFU program. The reverse effect pushed price higher that will be next support for the anopther wave of the bull trend.

[JuanPaulo]

Hacking Binance once again proves that there is not a single protected system. Therefore it is better not to keep all your money on the same exchange. It is better to be safe and keep money in your personal wallet or on several exchanges.

[travwill]

It seems that this hack will only benefit the exchange. Only 2% of the total capital of the exchange was stolen, and the subsequent actions of the founder show that such hacks are not dangerous for him.

[cuo]

wow, how could this happen?, binance is top exchange. In my view, binance will recover investor who lost money, and I think to recover 7000BTC is easy by binance, so it will not effect much to market.

[traderethereum]

It seems that this hack will only benefit the exchange. Only 2% of the total capital of the exchange was stolen, and the subsequent actions of the founder show that such hacks are not dangerous for him.

I guess that it will not give a big effect to binance since you say it is only 2% of the total capital.
But that hacking news was made many people worried because I am sure they have bigger balance in binance, but fortunately, binance give a clarification that they will replace the balance if the bad things come to their members.
I am sure binance will do their best to protect their site so this will not happen in the future.

[spike420211]

Given that finance did not give back and took a blow with an outstretched chest, while still thanking hackers for identifying vulnerabilities, I think that everything will be fine with the market even after the next hack exchange.

[Serco]

wow, how could this happen?, binance is top exchange. In my view, binance will recover investor who lost money, and I think to recover 7000BTC is easy by binance, so it will not effect much to market.

no problem with binance customer fund.they have huge reserved fund from their years operation in market.as biggest exchanges , binance could generate millions profits from their trading fee.and investors and cryptocommunity not worry with this case.

[madfox11]

It seems that this hack will only benefit the exchange. Only 2% of the total capital of the exchange was stolen, and the subsequent actions of the founder show that such hacks are not dangerous for him.

I guess that it will not give a big effect to binance since you say it is only 2% of the total capital.

Yes, but that's not the point. The very fact that Binance has been hacked, it's the only thing that does matter. People can lose credibility and begin withdraw funds which they do not trade but store there.

[Evgenklm]

I think the hacking of the exchange did not affect the market as a whole, only the only BNB coin sank, but later showed a rapid growth, apparently the exchange completely closed the issue with hacking.

[strunberg]

It seems that this hack will only benefit the exchange. Only 2% of the total capital of the exchange was stolen, and the subsequent actions of the founder show that such hacks are not dangerous for him.

I guess that it will not give a big effect to binance since you say it is only 2% of the total capital.

Yes, but that's not the point. The very fact that Binance has been hacked, it's the only thing that does matter. People can lose credibility and begin withdraw funds which they do not trade but store there.

if we want to store our asset, dont save it on exchanges wallet.using hardware wallet could be good solution for us to make our assets safe.actually binance security very good, but maybe hackers see bug in its exchanges, and they could attack it and stole much bitcoin.

[spike420211]

It seems that this hack will only benefit the exchange. Only 2% of the total capital of the exchange was stolen, and the subsequent actions of the founder show that such hacks are not dangerous for him.

I guess that it will not give a big effect to binance since you say it is only 2% of the total capital.
But that hacking news was made many people worried because I am sure they have bigger balance in binance, but fortunately, binance give a clarification that they will replace the balance if the bad things come to their members.
I am sure binance will do their best to protect their site so this will not happen in the future.

And this is great, let people first of all think about where their money is kept and what risks they are exposed to if it is a centralized exchange.

[traderethereum]

It seems that this hack will only benefit the exchange. Only 2% of the total capital of the exchange was stolen, and the subsequent actions of the founder show that such hacks are not dangerous for him.

I guess that it will not give a big effect to binance since you say it is only 2% of the total capital.

Yes, but that's not the point. The very fact that Binance has been hacked, it's the only thing that does matter. People can lose credibility and begin withdraw funds which they do not trade but store there.

I don't think so because people still trust binance and I am sure that many traders still trading in binance.
They don't make any massive withdraw from binance because they see what binance did for the member who is losing their balance because of the hacked.
If the exchange can take responsibilities, then people would still believe in them because the exchange is not run away from the problem, but they are trying to fix the problem for their members.

It seems that this hack will only benefit the exchange. Only 2% of the total capital of the exchange was stolen, and the subsequent actions of the founder show that such hacks are not dangerous for him.

I guess that it will not give a big effect to binance since you say it is only 2% of the total capital.

Yes, but that's not the point. The very fact that Binance has been hacked, it's the only thing that does matter. People can lose credibility and begin withdraw funds which they do not trade but store there.

if we want to store our asset, dont save it on exchanges wallet.using hardware wallet could be good solution for us to make our assets safe.actually binance security very good, but maybe hackers see bug in its exchanges, and they could attack it and stole much bitcoin.

That is the point.
Traders were only trading the coins.
But if they are saving their coins at the exchange, then that is their mistake if somehow they are losing their coins.
It's better to save the coins in the hardware than in the exchanges.

It seems that this hack will only benefit the exchange. Only 2% of the total capital of the exchange was stolen, and the subsequent actions of the founder show that such hacks are not dangerous for him.

I guess that it will not give a big effect to binance since you say it is only 2% of the total capital.
But that hacking news was made many people worried because I am sure they have bigger balance in binance, but fortunately, binance give a clarification that they will replace the balance if the bad things come to their members.
I am sure binance will do their best to protect their site so this will not happen in the future.

And this is great, let people first of all think about where their money is kept and what risks they are exposed to if it is a centralized exchange.

We learn from the other people's mistake so we can prevent the loss of the coins from the exchange.
But if we still save the coins in the exchange, then we make our own mistake

[shadowduck]

I think the hacking of the exchange did not affect the market as a whole, only the only BNB coin sank, but later showed a rapid growth, apparently the exchange completely closed the issue with hacking.

you're wrong. after the hacking of the exchange, deposits and withdraw on this exchange were closed. and I believe that this gave a significant opportunity to raise the price. after the withdrawal was opened you see what happened to the price

[Yalovtsev]

Of course, any such event will have a negative impact on the market,as many immediately lost confidence in the exchange,once hacked so big,note how many exchanges have already been hacked,the same cryptopia,all gone to the bottom,and how many more of these will be!Therefore, all these events have a very negative impact

[raes]

you're wrong. after the hacking of the exchange, deposits and withdraw on this exchange were closed. and I believe that this gave a significant opportunity to raise the price. after the withdrawal was opened you see what happened to the price

maybe there are some people who are nervous about the assets they have in binary exchanges, and that is very reasonable because they don't want their assets to just disappear. but what I heard was that all assets were safe and nothing was lost from the hacking incident.

[miklesm]

Binance was do hacked, but they have easily recovered the losses from their SAFU fund, so this occasion did no affect the cryptocurrency market.

[mdzahed134]

Binance hacked, hackers steal 7,000 bitcoin: https://www.coindesk.com/hackers-steal-40-7-million-in-bitcoin-from-crypto-exchange-binance?utm_source=twitter&utm_medium=coindesk&utm_term=&utm_content=&utm_campaign=Organic%20
Will this event affect altcoins?

Bad news, because this BTC will be sold soon on the market and it will affect on BTC price huge. But I am sure that Binance is still #1 and now a good chance to buy BNB for the low price.

But interesting thing is after Binance hacked BTC will going to huge moon definitely also you can observed that. Binance already announced they have strong back up which is "Secure Asset Fund For Users" shortly named #SAFU Fund. That means i think everyone fund is safe, no one never harmed for this hacked.   

[patz22]

Binance was do hacked, but they have easily recovered the losses from their SAFU fund, so this occasion did no affect the cryptocurrency market.

Thats right! No effect at all except for BNB because the good thing is that BTC pumped hard and I believe thats one of the reason why altcoins dumped. Yes, they have SAFU but it was a surprise that the most reputable exchange got hacked but we will not removed the fact that the more you are better than the others it will make you a target for hackers.