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geegaw
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May 09, 2019, 02:36:30 PM |
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I heard binance will be responsible for this case and will return the lost funds. and this is a good thing because binance shows a good commitment to solve this problem.
and I will still use binance, even though now the security is questioned.
I also heard information about their responsibilities and compensation, they will almost guarantee all the assets of the investor and accept the damage, this is really a very unexpected way of handling and with this method, I believe very few people will be wary of binance, people will have more faith in this exchange. After this event ends and the holes in their system are thoroughly removed, their reputation will rise higher and the value of bnb will probably increase when newbie begins to move to this exchange |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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hongus
Full Member
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Activity: 736
Merit: 100
Adoption Blockchain e-Commerce to World
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May 09, 2019, 02:47:10 PM |
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So keep your money in your wallet. And do not forget your coins. But in other things for traders is a big problem. Due to the fact that the exchange charge a fee, they can not constantly enter and withdraw their money. Too much loss in long-term work. It is better to ignore small exchanges, there is a very weak protection.
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Olayinka225
Jr. Member
Offline
Activity: 322
Merit: 1
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May 09, 2019, 05:16:32 PM |
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I really trust binance will stand to this trial that have befallen them.
I believe there won't be any glitch trading on this exchange despite the hack.
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killat
Member
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Activity: 742
Merit: 21
Be the reason someone smiles today
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May 09, 2019, 05:21:04 PM |
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The thing is the explination they provided for the hack does not add up with the actual withdraw they posted which came directly from the hot wallet.
Also if 7000 BTC were missing/withdrawn from Traders/Users accounts through their API`s wouldnt you think that some of them would open reddit posts or complain somewhere that their funds are missing ?
On the other hand if they got access to their hot wallet wouldnt they withdraw bigger amounts ? why only 7K btc ?
+ the last month BNB pump just adds up to the susspision that all of this is more likly staged than true..
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✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦ Be kind whenever possible. It is always possible ✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦✦ |
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trudovik
Member
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Activity: 546
Merit: 10
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May 09, 2019, 05:34:11 PM |
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I think that this event is generally expected and it seems to me that people understand this and in general there is no such serious reaction that would have shown a big decline today. I think this is somehow understandable.
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pixie85
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May 09, 2019, 09:20:17 PM |
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I really trust binance will stand to this trial that have befallen them.
I believe there won't be any glitch trading on this exchange despite the hack.
There already was a big enough glitch. CZ admitted that they were unaware of the exploit and were caught by surprise. What makes you think there will never be any surprises? What makes you think their margin of error is endless? If they lose enough money they will file for bankruptcy and you won't be able to withdraw your money. Some people really need to lose money to learn something but it's too late by then. |
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Ressurection
Copper Member
Jr. Member
Offline
Activity: 68
Merit: 3
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May 09, 2019, 09:29:48 PM |
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For the last time people don't ever leave your funds on any exchange and i am very impressed with how CZ has really handled this situation. He has been really truthful about the whole situation and i heard he has promised to refund all the 7000BTC that were stolen. That's really impressive!
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coinsycrip09
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May 09, 2019, 09:43:24 PM |
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For the last time people don't ever leave your funds on any exchange and i am very impressed with how CZ has really handled this situation. He has been really truthful about the whole situation and i heard he has promised to refund all the 7000BTC that were stolen. That's really impressive!
yeah, i also really like the attitude of those who are fully responsible. that's why their customers still choose binance as a good exchange. we cannot guarantee the security of an exchange in full. no matter how strong their security is, surely some irresponsible people will look for gaps to infiltrate it. so we must always be vigilant and indeed we should not save our money for too long in any exchange. |
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Isiaka208
Copper Member
Jr. Member
Offline
Activity: 411
Merit: 1
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May 09, 2019, 09:52:01 PM |
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With the way he spoke about it fairly, I feel this was some kind of FUD even though the market didn't respond to it in a magnanimous way.
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===================================================== BILLCRYPT - CREATING HISTORY===================================================== |
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Denongels
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May 09, 2019, 09:54:11 PM |
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I don't use binance too much and also if I use the market just to trade and also participate in events held there and never make the market a wallet, if I want to secure better assets, use a personal wallet and store it there, but for binance I recognize CZ very responsible and will compensate for the case
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powerman24
Member
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Activity: 448
Merit: 12
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May 09, 2019, 10:24:43 PM |
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This hacking event on Binance is a wake up call how important security in crypto is. It was a sophisticated attack and Binance is investigating what exactly happened and how many accounts become vulnerable. I think this was an insider job or done by insider information, but let`s wait they investigate how it could happen.
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Viceroy
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May 09, 2019, 11:09:30 PM |
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Binans skillfully solves any problems that arise, it's cool. I think the BNB price could go up. I have always liked Binance solutions in all matters.
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Adriano2010
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May 09, 2019, 11:11:42 PM |
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Even if they was hacked they give back coins to users from their fee they get and this can only be a good thing, the only i thinked maybe can be wrong to roll back bitcoin transactions.
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klaaas
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May 09, 2019, 11:21:20 PM |
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Even if they was hacked they give back coins to users from their fee they get and this can only be a good thing, the only i thinked maybe can be wrong to roll back bitcoin transactions. It wont gain trust only relief. Its scary when someone else control your funds and this happens. This wil not be a easy fix and could take a while to recover from |
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Maslate
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May 10, 2019, 05:24:16 AM |
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Binans skillfully solves any problems that arise, it's cool.
They have it solve because they have the SAFU funds. Funds were created from their income to cover future loses like hacking, and good thing they covered it all despite the amount hacked. I think the BNB price could go up. I have always liked Binance solutions in all matters.
Not sure with BNB, now it's Bitcoin and some alts that is rising but BNB is down. https://coinmarketcap.com/currencies/binance-coin/ |
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ice18
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May 10, 2019, 05:43:52 AM |
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Maybe its an strategy of Binance to introduce their very own feature which is the SAFU(Secure Asset Fund for Users) that if ever hacking was happened users need not worry for their btc wallet balances, some big crytpo companies are in rescue but Binance said no need for help because funds are SAFU.
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Kiweikoo
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May 10, 2019, 07:57:37 AM |
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If I am not mistaken, this is the first hack of this exchange. What is very bad for the whole market, and binance you may wish to recover from the blow as soon as possible and become better.
It is of course a matter of concern and security for the exchange and yeah for people who are passionate about cryptocurrency but it is not a failure of the market and the market stays unaffected completely. The prices are still soaring up and there is still great demand for good coins. Binance will have to improve its security system and I am sure they can do so for the exchange and the management have been great so far. |
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steveabrahams
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May 12, 2019, 11:46:22 AM |
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Yes it's an alarm for us who stored your coins on the exchange. Imagine this, big and popular exchange like Binance got hacked, now imagine if you stored your coins on lower exchange, how dangerous is it. So people, stop stored your coins in exchange, especially in a big amount. It's better to hold it on your own wallet.
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Bitbtc8
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May 12, 2019, 12:40:21 PM |
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Binance is a very capable exchange let's not forget that nothing is impossible to hacks ,just imagine if this happened to weak exchanges its goodbye ,but binance is still the best to me ,all they need now is to upgrade there security for any future possible hacks ,let's all support the exchange
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Sebas.tian
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May 12, 2019, 01:57:11 PM |
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Any centralized exchange could be subjected to security breach to some extent. So it doesn't matter if the security is the best in the world since it would get hacked eventually. In retrospect, this hack would definitely increase the strength of security of binance so I think this doesn't necessarily mean we have to stay away from it.
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