Another Exchange got hacked

[rexxarofmoknathal]

This hacking phenomenon, especially, for exchanges has always been in the high. This is no exception though, and unfortunately the only lesson we can all take from this unfortunate incident is that security of any online platform must be a priority and needs regular checking. As sad as it is, there will be new methods these hackers can use that's why it's imperative that safety protocol checks/updates must be done on a regular basis.

Anyway, if you want you can read more about this event here: https://www.ibtimes.com/bisq-hack-250k-worth-crypto-stolen-users-2955689

[ballerin and giroud]

I think no, but it will make every crypto's exchanges aware that they should make a service which have a good security. Don't just make a good trading platform in the side of feature or fee that charge. The first thing if they want their trading platform be used for long time they should pay attention the security service first. A feature and low charge for every fees is a bonuses for every trader. Even for me, I will choose a platform that has a good security instead of the trading platform charge a low fees and has a good feature, it doesn't make any sense to me.

[Mpamaegbu]

For a brief second I held my breath when I saw this thread, thinking it could an exchange I had tokens in. Well, thank goodness it isn't. These hacks are becoming ceaseless this day and that throws up a window of suspicion that the hacks could be coming from members of staff of these exchanges. I bet, they can't deny it is not an insider. People should be careful not to pile up their hodlings on exchanges. None is completely safe. Remember that Binance was also hacked in 2019.

[masterrex]

Another crypto exchange got hacked and this time the victim is Bisq, a trading platform that has temporarily ceased all its trading services that unfortunately cost users at least $250,000 in digital funds, is there no year gone by withouth a crypto exchange getting hacked? This one weaks me, will this ever stop?

Most of the hacking incidents are very unfortunate and should be addressed accordingly. Honestly speaking I doubt some of those incidents, I don't know why but I have a bad feeling about it. I suspected that it was a planned attack from within. I'm not a hundred percent sure, but it is highly possible. for me, it is an eye-opener for all of us that we should not let our holdings stay longer in any exchange because it is not safe and also choose the reliable and trusted crypto-exchange platform that suited for our needs.

[kceekcee]

Another crypto exchange got hacked and this time the victim is Bisq, a trading platform that has temporarily ceased all its trading services that unfortunately cost users at least $250,000 in digital funds, is there no year gone by withouth a crypto exchange getting hacked? This one weaks me, will this ever stop?

This is sad, but likewise it is one of the reasons why we are urged not to keep our funds in exchange platforms. Always use a cold storage or paper wallet

[Bestmanbuka]

I really feel uneasy when I see news of a hacked exchange whether I have funds or not there coz there are people that will definitely loose their hard earned funds. I don't how they set up with their exchange but if individuals could secure their wallets with 2FA Authentication, these exchanges should have a back up plan against hackers.
People should be careful not to pile up their hodlings on one exchange,
Share it to different exchanges or better still, store outside an exchange where it will be better secured.

[Fesatmas]

If big exchange like Binance were hack, small exchanges is more vulnerable to hacking, at the end of the day it's just all about the security and its insurance, if the site have an insurance feature then traders if ever they lose their money, they will be refunded, just like what Binance did.

https://coinmarketcap.com/exchanges/bisq/ , it's a small exchange with less than a million trading volume, I think they are in trouble with the money they loss.

Maybe this is just their trick to lame from the users? or indeed hacked so vulnerable to his site?
Small exchange if hit by hacks, it will be large in the amount of 250k that is brought, but is there any insurance that can make this money back?

[umbara ardian]

Certainly in the future there will be more exchanges being attacked by hackers. I never trust exchanges because they're not really secure, even Binance exchanges are hacked in 2019 and it's one of the top exchanges in this market.

[thesmallgod]

If big exchange like Binance were hack, small exchanges is more vulnerable to hacking, at the end of the day it's just all about the security and its insurance, if the site have an insurance feature then traders if ever they lose their money, they will be refunded, just like what Binance did.

https://coinmarketcap.com/exchanges/bisq/ , it's a small exchange with less than a million trading volume, I think they are in trouble with the money they loss.

But I am not sure if this exchange will do the same thing as binance by returning all the money that has been lost. For that I prefer to use binance because even though hacked but my money is still returned

That is the benefit of trading with big exchange with binance. They have made fortune and have capacity to offer such when there is security bridge compare some small exchange that are still upcoming. I doubt if cryptopia did the same for their traders when they got hacked few years ago. I got lucky to have withdrawn my $1.2k before it was hacked

[Saisher]

Another crypto exchange got hacked and this time the victim is Bisq, a trading platform that has temporarily ceased all its trading services that unfortunately cost users at least $250,000 in digital funds, ~

This is old news, the hack happened a few days ago. The Bisq devs were able to fix the flaw and the exchange is already back in operation. 
For those looking for the full story, here's the article https://www.coindesk.com/hacker-exploits-flaw-in-decentralized-exchange-bisq-to-steal-250k

~
is there no year gone by withouth a crypto exchange getting hacked? This one weaks me, will this ever stop?

As long as there are hackers and there are flaws in an exchange system, funds will be stolen. Having a high security in place is a must for all exchanges but it is unlikely that hackers will be stopped all the time.

What happened to Bisq proves that even decentralized exchanges, whom most of us thought as more secure, are also prone to hacks. It's a lesson that we shouldn't trust DEX developers too much. It is encouraged that we also educate ourselves on how to read codes. No system is 100% safe.

That's true no system is really 100% sure and safe, and with this we should realize that exchange is not the right place to keep our coins even if the exchange is one of the top exchange in the industry, always remember not your key not your money, the most secured wallet is the one that you can secure.

[bitcoin31]

Many hackers the number 1 target are the exchanges because they know that in the fundd of the exchanged is million dollars and once they enter the system they will get more money. So as trader too I suggested to newbie and even professional trader to seperate the coind to the exchanged waller to the wallet for crypto become more safe . The team of exchange need secure the system they have so people will be sure that their money is safe .

[joseyphil82]

I can tell you that hackers target exchanges the most, every day every minutes they are busy finding ways to break the security of any exchanges, this is why its always a bad choice leaving coins and tokens on any exchanges

[BlacksmithCorporation]

I see that there are currently too many exchanges being created, many of which are done in a sloppy manner. Such exchanges are potential targets for hackers. People should choose which ones are highly rated for use.

[Ridwan Fauzi]

There is safe way to choose sentralized exchange, you won't ever be comfortable to store your money there.

A good thing is depend on your intention, choose hardware wallet if your intention is for long term investment.

Choose centralized exchange when you have intention to be a trader, at least when you are a trader you will intens to see your asset on the exchange so when the bad thing come you can send all your fund to the right place.

[Reid]

Another crypto exchange got hacked and this time the victim is Bisq, a trading platform that has temporarily ceased all its trading services that unfortunately cost users at least $250,000 in digital funds, ~

This is old news, the hack happened a few days ago. The Bisq devs were able to fix the flaw and the exchange is already back in operation. 
For those looking for the full story, here's the article https://www.coindesk.com/hacker-exploits-flaw-in-decentralized-exchange-bisq-to-steal-250k

Thank you.
You saved me the time and effort to go through all the searching that is needed just to make sure this is real.
I hope I still have Smerits so I can give you some, but sadly I don't.
But I will be back at you later if ever I will receive some.

So it had been fixed but there is still a problem which takes away some of their customers.

In most cases of an exchange hack, the attacker can be booted off the trading platform for good. Not so with Bisq. One of the DEX's associated developers told CoinDesk that although the flaw was fixed, there was nothing to prevent the attacker – whose identity cannot be known – from accessing and trading on the platform again.

[ahmedtanjid]

This won't stop until there are hackers and flaws in exchanges. Hackers are always awake to find flaws from every possible corner. When they find that flaws they target the flaws and break the security of the website. So it's helpful to always have insurance. No exchange is safe from them, whether it's a decentralized or centralized exchange. So don't keep you fund in exchange all the time. Use wallet like ledger, cold wallet etc.

[CryptoCrawler_2017]

Bisq is well respected exchange & too bad to hear it's hacked.
This endless drama of crypto exchange hack will not end only if the exchanges put a decent portion of their money into securing the funds (cyrpto) of their customers.
I know that there is nothing as 100% secure but at least make i harder & harder for hackers to hack them

[ntsdm1]

Another crypto exchange got hacked and this time the victim is Bisq, a trading platform that has temporarily ceased all its trading services that unfortunately cost users at least $250,000 in digital funds, is there no year gone by withouth a crypto exchange getting hacked? This one weaks me, will this ever stop?

This is the first time I've heard of such an exchange. However, if you want this to stop in the future, use only user-verified crypto exchanges.

[Febo]

Another crypto exchange got hacked and this time the victim is Bisq, a trading platform that has temporarily ceased all its trading services that unfortunately cost users at least $250,000 in digital funds, is there no year gone by withouth a crypto exchange getting hacked? This one weaks me, will this ever stop?

Bisq is operating normally for some time now. They even cant prevent trading since it is decentralised exchange. For a day before they managed to patch bug they advised all traders not to trade.

[Furryball]

No single exchange is impenetrable, either decentralized or centralized hackers are going to keep stealing coins from these exchanges, presently there is no way to prevent this successful, all we have to do is always make sure we keep our coins in wallets that have private keys and only send tokens to exchange for sell or swap