After Binance have been compromised.

[as9ardia]

Binance announced that they are going to refund all the lost amount so it is not going be a big concern for the people to choose other exchanges.

I don't think this's all about Refund or Not. It's all about "safety" while we trade.
And Yes, absolutely agree this's not big concern (in binance case)

And now what is your opinion about decentralized exchanges after this event? I think people will finally consider the DEXes more seriously. 

Both Centralized and Decentralized have good and bad sides, and I think depends on us to assess which one is better

[trudovik]

I think that this should have happened, because today we understand that a lot of exchanges were hacked, but Binance was not hacked earlier, so they did it now, this once again confirms the idea that there is nothing 100% guaranteed.

[chenille]

If you don't store many coins on your exchange account also decentralized exchanges should be ok.
You have always to note that exchanges can be hacked and if you have all your coins there it's clear that it won't be a wise decision.

I think that this should have happened, because today we understand that a lot of exchanges were hacked, but Binance was not hacked earlier, so they did it now, this once again confirms the idea that there is nothing 100% guaranteed.

Binance was hacked in the past but they did refund all damaged accounts (funds were safu)

[batang_bitcoin]

I think people will finally consider the DEXes more seriously. 

Some probably will but it doesn't mean that most will consider DEXs. People are looking for security and wanting to have a better service and it's okay for them to use centralized exchanges because they have a nice support that they can address issues that they might experience in the future. There are people that prefer to get in to DEXs than centralized one and I'm neutral on this. Op can you tell us why you think that more people will seriously consider DEXs just because of the recent hack?

[Milamol]

Yes, DEX sometimes has some advantages. It remains to solve issues with liquidity and cross-blockchain.
I like IDEX: relatively good liquidity, a reward for trading every quarter.

[Jpti]

Sad news. I think we should not play off such hack. We all must come together to seek ways to end such incidents. One thing I am not understanding is that hacking of crypto exchanges have occurred in the past too. Is not there strong way to protect funds in exchanges so hackers cannot penetrate? As such incidents have happened and are happening, all exchanges and holders should be aware enough, and keep their assets safe.  

[uneng]

And now what is your opinion about decentralized exchanges after this event? I think people will finally consider the DEXes more seriously. 

Still people will use Binance. After the incident maybe some will shift exchange for this but always remember how Binance can bring back its users. Also, I dont think they wanted this to happened as well. Binance will compensate all the loss funds and thr DEXes never do that ever in history right? If you use dex and something was compromised you think they will return a single dime in youre account? Dont think so! At least Binance fan fixed what they have been mistakenly do.

If Binance really protects their users from any loss regard this hacking I think there isn't any problem with this exchange. They said the amount hacked is only 2% of the total btcs the exchange has on their control. They can keep their reputation and recover this loss really fast.
I don't think this story is going to compromise decentralized exchanges, they offer a good service and if something goes wrong, users can appeal to authorities to punish the exchange, what I suppose doesn't happen in peer to peer exchanges.

[Bagaji]

Even though they had been compromised the users, did you know that the funds of the users are safe? So you got nothing to worry about the exchange.

Definitely the point, haven the victims to be rewarded according to their looses means alot to their esteem customers. No other exchnage has though it wise to compensate their victims the way Binance are going about it, so, people will still embrace Binance.

[ivaf]

If volumes appear on decentralized exchanges, they (exchanges) will also be hacked. Or there will be attempts to deceive users of such exchanges (fishing). But in this case, there will be no hope of compensation for damages to the victims.

[SRKNGL]

After the Binance hack event, the deposit and withdrawal procedures were closed. With the explanation of the CZ rollback, it scared investors more than hacking.

[Petchant]

Decentralized exchanges is cool if the issue of liquidity and interoperability can be solved but without getting solutions to them, decentralized exchange will continue to be second option to traders

[rachman mahesa]

After the Binance hack event, the deposit and withdrawal procedures were closed. With the explanation of the CZ rollback, it scared investors more than hacking.

It seems like a way to anticipate temporarily so that there are no transactions for a while. It seems like the time set is 1 week can not make withdrawals and deposits. Just believe and believe in Binance, everything will be resolved, of course.

[timoshani]

I think after such a problem the large exchangers will lose trust. The quantity of the stored cryptocurrencies on balance will become much less. Many already look directly at the exchanges with small daily volumes of trade.

[Avirunes]

If Binance really protects their users from any loss regard this hacking I think there isn't any problem with this exchange. They said the amount hacked is only 2% of the total btcs the exchange has on their control. They can keep their reputation and recover this loss really fast.
I don't think this story is going to compromise decentralized exchanges, they offer a good service and if something goes wrong, users can appeal to authorities to punish the exchange, what I suppose doesn't happen in peer to peer exchanges.

Maybe they were able to cover the loss from hacking but what if losses were made to a significant degree. Would binance would still be able to cover up the losses? Tricky isn't it?

There can be much more difficult situation like this and damage to a greater degree and in that scenario I hardly think they would be able to cover the losses completely.

[Fredomago]

I think after such a problem the large exchangers will lose trust. The quantity of the stored cryptocurrencies on balance will become much less. Many already look directly at the exchanges with small daily volumes of trade.

There's no indication of that yet and binance still working with how they will resolve this issue and not to let their name/business being compromise, they are working and looking on how those coins that's being hacked will be paid and let the traders to keep the trust and continue using the exchange.

[RockDJ]

And now what is your opinion about decentralized exchanges after this event? I think people will finally consider the DEXes more seriously. 

Decentralized exchanges have always been considered safe because funds are not held and traders are in control of  their private key. Asides the usability of DEX, I am still trying to figure out why its unpopular among traders

[installer]

I hope so, because they are much safer than centralised exchanges. However, it does not have any influence on Binance users, because they will cover all loses from their fund, so no worries. But I believe this fact will move investors towards decentralised exchanges.

[Adriano2010]

Any exchange can be hacked if users visit phishing sites, and enter their data, they will lose their coins from account and if they not have extra security exchange can't do nothing, always check the link when go to exchange.

[joinfree]

The hack at Binance is a big blow to the crypto industry since most people like myself believed that Binance exchange was secured and could not be hacked. Yeah and i also think it's high time we really look in the development of Decentralized Exchanges. There are a couple of decentralized exchanges that are doing quite well in the industry and have not experienced any form of security issue before. Decentralized exchanges have to be given some level of thought.

[uneng]

If Binance really protects their users from any loss regard this hacking I think there isn't any problem with this exchange. They said the amount hacked is only 2% of the total btcs the exchange has on their control. They can keep their reputation and recover this loss really fast.
I don't think this story is going to compromise decentralized exchanges, they offer a good service and if something goes wrong, users can appeal to authorities to punish the exchange, what I suppose doesn't happen in peer to peer exchanges.

Maybe they were able to cover the loss from hacking but what if losses were made to a significant degree. Would binance would still be able to cover up the losses? Tricky isn't it?

There can be much more difficult situation like this and damage to a greater degree and in that scenario I hardly think they would be able to cover the losses completely.

I think there is a very low risk of huge losses happen. Exchanges are very cautious about their funds, the biggest part of it must be stored in a safe place (maybe cold wallet), or splitted among several places to reduce risk.
But if it happened, the exchange customers would want punishment for exchange owners at least. It wouldn't finish well for platform users, with irrecoverable losses, but it would finish even worse for platform owners. That is another reason why I think exchange owners wouldn't let it happen.