Hacked Cryptocurrency Exchange Cryptopia Goes Into Liquidation

[weidex]

1 by 1 they will all go down till people open their eyes and start seeking for security. What do you think? And are DEXes going to be more usable exchanges instead of CEXes in the near future?

[tima_t]

1 by 1 they will all go down till people open their eyes and start seeking for security. What do you think? And are DEXes going to be more usable exchanges instead of CEXes in the near future?

I hope so
With the development of blockchain technology we will see much faster, secure and user friendly DEXes

[xvids]

This is why we should always be the one to keep or store our crypto and only use exchange when we are going to trade.
I always put my crypto's on my hardware wallet and only transfer it to an exchange when I need to trade it and I would send it again to my hardware wallet.
And I think it is time to make the P2P exchange platform.

[zombi11]

dead trade site.

[Beerwizzard]

1 by 1 they will all go down till people open their eyes and start seeking for security. What do you think? And are DEXes going to be more usable exchanges instead of CEXes in the near future?

DEX is not a solution of that problem. While the exchange is decentralized, user and his funds are still centralized. So in that case hackers would attack users. Similar things happened with etherdelta that is now RIP.
Also, in case with DEX there is no chance for user to get a refund while centralized exchanges are responsible for other people's money and have to pay a refund. Probably this is what Binance gona do after their recent hack. We need stronger and more reputable exchanges.

[Genemind]

We can't rely all the security measures that we want in exchange. We should be wise to hold our earnings. Dex wouldn't be able to do a refund anymore.
Also, this must be a lesson to everyone, we should know that even the biggest exchange could be hacked these days.
We must be mindful in storing our earnings.

[mk4]

Not anytime soon. DEXs still struggles a lot on liquidity, and on UX/UI. Custodial exchanges are simply just a lot easier and faster to use right now, hence DEXs still aren't that much of a threat to custodial exchanges.

[traderethereum]

Then there will be a selection for the good exchanges, and they will survive in the unpredicted situation that will happen in the cryptocurrency.
DEX could be a good exchange besides the current exchange, and I think people will choose what it fits them and they will stay for a long time in that exchange.

[Ailmand]

Dex should focus on the development of their security measures that would protect the funds of their users. It has been the struggle and agony of most of the holders in Dex these days. The number of users who choose Peer to peer transaction is increasing which means they're trusting it more than decentralized exchanges.

[kryptqnick]

1 by 1 they will all go down till people open their eyes and start seeking for security. What do you think? And are DEXes going to be more usable exchanges instead of CEXes in the near future?

I think it's not just about centralised vs decentralised exchanges. I trust exchanges like Binance or Bittrex, for example, and I have never used DEXes yet. I never liked Cryptopia, because they had crazy fees and the exchange was more about shitty tokens than dealing with top cryptos. Of course, there are risks, related to using such less popular exchanges. At the same time, bug ones are worried about reputation and have the power to make sure their customers are happy. A recent example is Binance compensating fully the 40 million dollar losses from the hack.

[FIFA worldcup]

1 by 1 they will all go down till people open their eyes and start seeking for security. What do you think? And are DEXes going to be more usable exchanges instead of CEXes in the near future?

In future we will see decentralization exchanges more popular than centralized ones as with the increasing hacks, people will lose interest in centralized exchanges.
Regarding cryptopia , anyone knows if it will return back some day again and we can withdraw our funds ? 

[mk4]

Dex should focus on the development of their security measures that would protect the funds of their users. It has been the struggle and agony of most of the holders in Dex these days. The number of users who choose Peer to peer transaction is increasing which means they're trusting it more than decentralized exchanges.

What? You got it mixed up. The point of Decentralized Exchanges or DEXs is that they don't have control over your funds, and that YOU control your funds.

[Haunebu]

1 by 1 they will all go down till people open their eyes and start seeking for security. What do you think? And are DEXes going to be more usable exchanges instead of CEXes in the near future?

In future we will see decentralization exchanges more popular than centralized ones as with the increasing hacks, people will lose interest in centralized exchanges.
Regarding cryptopia , anyone knows if it will return back some day again and we can withdraw our funds ? 

I don't agree with you. Centralized exchanges are still way more popular than DEXes and I am expecting it to stay away for a long period of time until the DEXes actually improve their horrible and laggy UI.

Even if Cryptopia returns, I don't expect them to give you back your funds.

[weidex]

Dex should focus on the development of their security measures that would protect the funds of their users. It has been the struggle and agony of most of the holders in Dex these days. The number of users who choose Peer to peer transaction is increasing which means they're trusting it more than decentralized exchanges.

What? You got it mixed up. The point of Decentralized Exchanges or DEXs is that they don't have control over your funds, and that YOU control your funds.

Exactly, isn't it better to control your own funds instead of trusting third-party?

[okala]

Dex should focus on the development of their security measures that would protect the funds of their users. It has been the struggle and agony of most of the holders in Dex these days. The number of users who choose Peer to peer transaction is increasing which means they're trusting it more than decentralized exchanges.

What? You got it mixed up. The point of Decentralized Exchanges or DEXs is that they don't have control over your funds, and that YOU control your funds.

You are right but we should know that decentralization comes with responsibility which is keeping your territory clear of hackers by upgrading your security in other to Carter for your users, cryptopia is going into liquidation because they can't meet up with the recent security demands.

[dothebeats]

I see DEXes as faraway platforms with little community support. Most DEXes springing are just obscure platforms with little to no trading volume in them. Even with the risk of getting hacked, traders would still choose an active, centralized exchange over a secure DEX with no volume any day. Cryptopia among others, is a great example of how insecure CEXes can be yet still be trusted by people. Perhaps a known CEX could turn into a DEX in the future, though we know that the latter isn't as profitable as the former so it's kind of far-fetched.

[BossMacko]

Hackers now a days know when to attack. Exchanges should take a look on those situations they should be alerted by now and should improve there security to prevent being the next exchange be a victim of hackers.

[muratsink]

cryptopia and Binance become a victims of hacking.  I think, Binance Dex is an experimental system.  DEX is a decentralized matching-order machine with a network of nodes, where the user can hold a private key and manage their own wallet.  yes, the DEX system has the opportunity to be the most successful system in crypto because it prioritizes speed, security, user friendliness.

[richminded]

1 by 1 they will all go down till people open their eyes and start seeking for security. What do you think? And are DEXes going to be more usable exchanges instead of CEXes in the near future?

Its good for cryptopia to liquidate their assets to pay the users of the exchanges, and actually this is a good time for a decentralized market to prove they deserve to be discovered. DEXes is a good one though there’s still a risk but its better compare to other centralized exchange. I hope binance will not ended up like this, no more hacking incidents please.

[tippytoes]

1 by 1 they will all go down till people open their eyes and start seeking for security. What do you think? And are DEXes going to be more usable exchanges instead of CEXes in the near future?

Its good for cryptopia to liquidate their assets to pay the users of the exchanges, and actually this is a good time for a decentralized market to prove they deserve to be discovered. DEXes is a good one though there’s still a risk but its better compare to other centralized exchange. I hope binance will not ended up like this, no more hacking incidents please.

In my opinion, cryptopia is heading to this direction and it's long been overdue. They are not really good to their clients and how they handle business. Their management is I'd say very poor and it's not comparable to BNB. BNB group is a strong one, they can handle their multi-million dollar attack swiftly. At last, they are not in the market anymore but they might be setting-up a new one under different name.