Upbit exchange was hacked. 342,000 ETH lost

[Mammothcoin]

Security within the blockchain space is something that shouldn't be taken likely.  Upbit is a top volume exchange. Recently,  breaches on these perceived secure exchanges are becoming a real cause for concern, even Binance wasn't exempt. Sadly,  it can only get worse as more people enter into the space and the values of these crypts increase.

[kolonel_x]

Security within the blockchain space is something that shouldn't be taken likely.  Upbit is a top volume exchange. Recently,  breaches on these perceived secure exchanges are becoming a real cause for concern, even Binance wasn't exempt. Sadly,  it can only get worse as more people enter into the space and the values of these crypts increase.

Hackers can not be prevented so this happens in small and large exchanges of course in any security there must be a weakness there we must realize and do not believe it fully, although Upbit exchange for it will still be vulnerable too.

[mich]

Upbit's Operator Launches Custody Service with Ledger

DXM, a financial services subsidiary of South Korean fintech firm Dunamu, has worked with crypto cybersecurity firm Ledger to launch an institutional crypto asset custody service.

https://cointelegraph.com/news/crypto-exchange-upbits-operator-launches-custody-service-with-ledger

[metalglowd]

Security within the blockchain space is something that shouldn't be taken likely.  Upbit is a top volume exchange. Recently,  breaches on these perceived secure exchanges are becoming a real cause for concern, even Binance wasn't exempt. Sadly,  it can only get worse as more people enter into the space and the values of these crypts increase.

Hackers can not be prevented so this happens in small and large exchanges of course in any security there must be a weakness there we must realize and do not believe it fully, although Upbit exchange for it will still be vulnerable too.

If indeed this situation can certainly happen maybe there should be a blockchain system that can make the stolen assets back to where they should be, not just locked and then stored for a long time in the wallet. Because if this continues, crypto assets can collapse. In the future i hope Blockchain should be really flexible to certain situations

[rudin123]

If indeed this situation can certainly happen maybe there should be a blockchain system that can make the stolen assets back to where they should be, not just locked and then stored for a long time in the wallet. Because if this continues, crypto assets can collapse. In the future i hope Blockchain should be really flexible to certain situations

maybe in the future there will be technology like that but for now it seems like there hasn't been anyone developing it, if there is such technology I think digital assets will be safe

[Bossfidelity]

It's quite unfortunate reading through this post. I'm indeed pained in my heart that an exchange lost such a huge sum in one day. I still believe that something is wrong somewhere and the assistance of an insider was utilized to move such an outrageous sum out of the exchange.

[Anonylz]

Security within the blockchain space is something that shouldn't be taken likely.  Upbit is a top volume exchange. Recently,  breaches on these perceived secure exchanges are becoming a real cause for concern, even Binance wasn't exempt. Sadly,  it can only get worse as more people enter into the space and the values of these crypts increase.

Hackers can not be prevented so this happens in small and large exchanges of course in any security there must be a weakness there we must realize and do not believe it fully, although Upbit exchange for it will still be vulnerable too.

Are you saying there is nothing exchanges can do to prevent hackers from having access to hack their exchange? and so users and investors have to deal with this constant hacking a possible loss of their funds? i don't want to believe there is nothing they can do, there should be a solution to protect this exchange from this kind of attack otherwise users will not feel secure to live money in exchange no matter how little it may seem, even though it is advisable not to keep money in exchange still one should be able to trade without fear.