Binance lost $40.7 million to hackers, which exchange is next!!!

[Genemind]

That's the risk of keeping all our earnings in exchange.
The reason why I keep my holdings on a hard wallet is because of the fact that every exchange is hackable these days. Let's just be observant all the time. Keep our private keys secure. People might really switch to p2p in this case.

[TimeBits]

re-org WADDA YAH MEAN BUD?
your pros
1. That only rewards people btc who do not deserve it
2. It would only encourage miners to hack more
3. p2p trading

your cons
1.  you already did
2. no you wont
3. p2p trading
4. next time you won`t be able to cover it.

https://www.youtube.com/watch?v=NHdjO24hcXk

[Nadziratel]

When it looks like the market is recovering from the bear market, yet another major exchange is hacked and $40.7 million is lost, looks like there is no end for these hacks and not sure which exchange is the next target. These security breaches will impact the market in a huge way as investors will think twice before investing because none of the exchanges are safe, they might refund the users because as per the news only a small percentage of the funds are lost but what i really do not understand is that when these huge amounts of withdrawals are executed how they are passing through the internal audit and many hacks in the past were not transparent, hopefully they will provide the details on how this hack happened.

Zhao was fighting a nobody in Craig and if he could have being more careful with his internal security rather than fighting bull shit artists these hacks wont happen.
Here is the link to the article about the entire news

I guess this news hasn't been confirmed yet. But even if it's true, I don't think it's too big for Binance. He may even have a few days' earnings. They won't hurt anyone.

[Siren]

Would you just stop spreading this issue?you are not helping the market stupid by sharing same topic all over the place

40$ million is just a small amount for a big exchange like binance,so ths question is why need the hacker take this small amount when they are capable of taking more?lol this is just nothing but another bad issue to discourage investors to continue supporting the market

[stfN2128]

another small setback in the crypto world. really sad to see something like this. what do we learn about this. no system will be ever secure, in every system is a backdoor which will be founded if you dive deep enough.

40.7 million isn't that big amount for binance i guess

Would you just stop spreading this issue?you are not helping the market stupid by sharing same topic all over the place
.....

are you serious? being silence about those shit doesn't make anything better... lol

[Nadziratel]

Would you just stop spreading this issue?you are not helping the market stupid by sharing same topic all over the place

40$ million is just a small amount for a big exchange like binance,so ths question is why need the hacker take this small amount when they are capable of taking more?lol this is just nothing but another bad issue to discourage investors to continue supporting the market

I completely agree with you. There is no need to panic. Binance will easily compensate. So calm down and focus your own trading. I am sure that everyone funds in secure with Binance.

[MakeMoneyBtc]

I think every big exchange is targeted and hackers are just waiting for the best occasion to take action and hack one of them. Every exchange promises to have the perfect security but as we all know that doesn't exist since almost every big exchange has been hacked at a certain point even though the damage wasn't so big.

[TimeBits]

https://www.youtube.com/watch?v=ob9Ak1t09Ao


You should of smashed em buddy. At least you should of drank his Iced Caramel Cloud Macchiato Espresso Con Panna White Chocolate Mocha Cold Brew with Salted Cream Cold Foam Decaf Pike Place Roast Iced Blonde Almond Coffee.

[roosbit]

For a big exchange such Binance they should have learnt from Mtgox but then it could be too early to draw conclusions unless a full report is available to the public. Damn 40 mil is a lot of money!

At the end of it all I think quality of service affects security because we want withdraws to be processed swiftly.

[TimeBits]

For a big exchange such Binance they should have learnt from Mtgox but then it could be too early to draw conclusions unless a full report is available to the public. Damn 40 mil is a lot of money!

At the end of it all I think quality of service affects security because we want withdraws to be processed swiftly.

Here is the conclusion, When you give someone something and they give a representation of that thing back, it the real thing becomes theirs. Do not do that. Do not use banks or financial institutions, use p2p, Read the first sentence of the the white paper.


 

lol @ the shmucks still trading on Binance, I suggest you put your coins in your wallet. Why do you need Big Brother to hold your wallet when you trade?

[Kasabus]

This is the biggest news I know today, but it seems it does not affect the market, so it's alright.
At least we know that Binance can still operate despite that amount of loss.

Some people have theories that it could be inside job, what do you think about that?

[ene1980]

Would you just stop spreading this issue?you are not helping the market stupid by sharing same topic all over the place
40$ million is just a small amount for a big exchange like binance,so ths question is why need the hacker take this small amount when they are capable of taking more?lol this is just nothing but another bad issue to discourage investors to continue supporting the market

Are you a dumb ass to think that sharing this topic here which is known worldwide by now and covered by several international media could be silenced, $40 million is not a small amount even for an exchange like binance, open your eyes and see the situation rather than being an internet warrior supporting them at this stage, suppose your coins are stolen and the markets went down, what you will do, sit down until everything clams down while you loose your valuation. If you have not lost any money because of the inefficiency of these exchanges you can support them, that might not be the case with everyone here who are into bitcoin for a long time.

[TimeBits]

Would you just stop spreading this issue?you are not helping the market stupid by sharing same topic all over the place

40$ million is just a small amount for a big exchange like binance,so ths question is why need the hacker take this small amount when they are capable of taking more?lol this is just nothing but another bad issue to discourage investors to continue supporting the market

Are you a dumb ass to think that sharing this topic here which is known worldwide by now and covered by several international media could be silenced, $40 million is not a small amount even for an exchange like binance, open your eyes and see the situation rather than being an internet warrior supporting them at this stage, suppose your coins are stolen and the markets went down, what you will do, sit down until everything clams down while you loose your valuation.

And the headlines will read "BITCOIN HACKED AGAIN FOR 40 MILLION!"

My mom: "I don`t trust bitcoin, it got hacked 15 times now"
Me: uggggggggggggggggggggggggg, nope a another bank got hacked.

[pushups44]

Would you just stop spreading this issue?you are not helping the market stupid by sharing same topic all over the place
40$ million is just a small amount for a big exchange like binance,so ths question is why need the hacker take this small amount when they are capable of taking more?lol this is just nothing but another bad issue to discourage investors to continue supporting the market

Are you a dumb ass to think that sharing this topic here which is known worldwide by now and covered by several international media could be silenced, $40 million is not a small amount even for an exchange like binance, open your eyes and see the situation rather than being an internet warrior supporting them at this stage, suppose your coins are stolen and the markets went down, what you will do, sit down until everything clams down while you loose your valuation. If you have not lost any money because of the inefficiency of these exchanges you can support them, that might not be the case with everyone here who are into bitcoin for a long time.

I totally agree that news of hacks should be spread as far and wide as possible to warn investors of the risks of keeping funds on exchanges and to encourage exchanges to practice stronger security. I believe Binance is one of the best exchanges so if they can be hacked any exchange can be hacked.

[Broly46]

Good riddance to Binance. It serve crypto well until it lasted.
Btw 40m isn't easy to Mt Gox too, I wondered how easy it is for Binance?

[TimeBits]

Yah super safe! they only got hacked for 7000 today.

[SaShiRaJaVu]

Yah super safe! they only got hacked for 7000 today.

Looks like he is not a person that can be trusted, he just got hacked big time and still claiming that everything is safe, i am not sure whether he is dreaming and not knowing the situation and now claiming about a roll back  , which will be a disaster if he is to control 51% and it is a direct attack on the network which cannot be accepted in any way possible, the long term implication and trust for bitcoin is at stake if he does anything remotely to that extent.

[TimeBits]

come on some 1 give me merit for this one. lol thanks.

[proTECH77]

Well those are some current fucked up News.
Wasn't expecting any of bad news for a long long time. This one will certainly bump on Bitcoin price.
We were just going to nicely and up again on the right track and boom this comes up now.

I wonder when there will be more secure measurements taken for such big exchanges =/

Basically, am not too sure if the hack was done without the help of an insider, becasue we have seen many exchanges been hacked and at the end of the day they came out to say, the hack was as a result of an insider. Binance is known by it security and hearing such news about them make me perplex over the issue of security. Never keep your funds in an exchange.

[TimeBits]

Yah super safe! they only got hacked for 7000 today.

Looks like he is not a person that can be trusted, he just got hacked big time and still claiming that everything is safe, i am not sure whether he is dreaming and not knowing the situation and now claiming about a roll back  , which will be a disaster if he is to control 51% and it is a direct attack on the network which cannot be accepted in any way possible, the long term implication and trust for bitcoin is at stake if he does anything remotely to that extent.

A roll back with a re-org HAHAHAHAHHAHBAHAHHAHAHHAHAHHAHAHAHAHHAHAHAHHAHAHAHHAHAHAHHAHAHAHHAHA
Hey guys we just lost 7000 bitcoin, were going to give it to the miners so the hackers don`t get it, so you can buy it off the miners again

https://www.youtube.com/watch?v=eVFd46qABi0