https://twitter.com/BitrueOfficial/status/1144066874147131392

It's official, another exchanges has been breached losing $5 million XRP and Cardano (at the time of the hack). Another sad day for crypto enthusiast. Good news is that they assured those who have lost their funds will be covered and returned to the users.

I am however not believing some hacks ever did happen to all exchange that claimed they were hacked. don't you think this is just for the marketing?

That would be an interesting strategy to make them look reputable like Binance who refunded all those lost.  The competition is a lot harder now with the number of exchange that can rank up better than them. They will want to keep their business to be on top than having not remembered by any bitcoin user.

I didnt even think about it because it would really just act like a double edge sword.Why? They might gain attention but
due to hack event it would really just mess up their reputation.So theres no point for them to do that.

Exchange hacks is inevitable yet these are honeypots of scammers specially now that the market is rising.

Amazing to hear such news, for me, mainly because I would never have heard about these exchanges at all if I had never read about their hacks. Still amazing to see that even some small exchange in some small nation has this much lying around waiting to be hacked, and it's not even Bitcoin.

This just keeps proving the truth no one wants to hear about exchanges. That they're treating it with such carelessness it's so easy to hack.

Oh and same assurances. Means nothing until they get their funds back.

It's great to hear that for the affected users of course, but I wonder how realistic it is for such an exchange to pay back their users in full. It will take multiple years if they plan to pay back users with their fee income.

I personally (despite the goodwill of the exchange) wouldn't go back to it anymore. Users should accumulate whatever the payouts are and withdraw them immediately to make sure the funds are safe.

I wouldn't call an exchange generating ~$50 million in daily volume a small exchange. Bittrex despite it having lost so much popularity still holds like +$2 billion worth of crypto on behalf of its users. I find this way more shocking.