Not all hacked on exchanges are real

[S3300]

The perfect theft in crypto is claiming that a project or an exchange is hacked when its all an inside job, the reason why I think about this is I have never heard about other top exchanges helping a exchange that just got hacked to track their funds and get some back at least but if it's a sole hacker from outside they will track him or them down, why is that?.

[KaliLinux]

The perfect theft in crypto is claiming that a project or an exchange is hacked when its all an inside job, the reason why I think about this is I have never heard about other top exchanges helping a exchange that just got hacked to track their funds and get some back at least but if it's a sole hacker from outside they will track him or them down, why is that?.

Unless you have proof that such and such exchange hack was an inside job, then all of the exchange hacks have been perpetrated by outsiders and some have been apprehended and I don't think it is the job of one exchange to help trace the hackers of other exchanges when they have their own to protect but the law enforcement responsible for such acts have proven themself in the past.

[makishart]

This may be true but i do believe if it's not only on the exchange site. There are so many projects were claiming got hacked to be an inside job. Sometime the hacked case used as a reason for them to avoid the legal action from the investors. This is used by scammers to fool the investors and run away with the money. The same case happened with youc token as well. In my opinion that we never known about the truth as the internal party itself who has known about the truth. What we can try just to speculate about what will be happening with the market.
Some may be hacked like what happened with kucoin but some may not.

[Tytanowy Janusz]

The perfect theft in crypto is claiming that a project or an exchange is hacked when its all an inside job, the reason why I think about this is

Some of then for sure are an inside job. I have even better "consiracy theory" that most of crypto exchanges are using fractional reserve system:

Money creation system - is bitcoin creation resistant?

And crytpo exchanges profit from this all the time as long as they wont underdo the reserves and lose liquidity. That day they announce hack and transfer losses on users.


 

I have never heard about other top exchanges helping a exchange that just got hacked to track their funds and get some back at least but if it's a sole hacker from outside they will track him or them down, why is that?.

Kucoin was hacked and lost $285 M in crypto. According to this article they manage to recover everything:
https://cryptopotato.com/kucoin-ceo-reassures-they-recovered-all-285-million-stolen-in-last-years-hack/

They were cooperating with almost all projects asking them to burn lost tokens (with success) - including tether. The biggest unrecovered loss was BTC that could not be burned by devs (satoshi is gone, BTC is the real decentralized crypto) and ETH the founds were insured and recovered. No user were harmed.

[JangoUnchained]

Might be true but not all hacks and moreover why would an exchange be responsible for getting back what another exchange lost? I have seen Binance exchange doing such before which is very good of them but it's a big shame for other exchanges not to have any plan for any possible hacks that may happen at any time, this is why Binance is one step ahead of other exchanges.

[Farma]

The perfect theft in crypto is claiming that a project or an exchange is hacked when its all an inside job, the reason why I think about this is I have never heard about other top exchanges helping a exchange that just got hacked to track their funds and get some back at least but if it's a sole hacker from outside they will track him or them down, why is that?.

this is still a conspiracy among crypto users. because it will be speculation if we do not find accurate evidence. maybe it's true that not all hacked exchangers are actually hacked. it could be a strategy they came up with to steal users' money. it just can't be proven. other than that, as long as they are still responsible as was the case with binance, it's probably still understandable. because this is why we have to be careful doing transactions on new exchanges.

[Bttzed03]

~ the reason why I think about this is I have never heard about other top exchanges helping a exchange that just got hacked to track their funds and get some back at least but if it's a sole hacker from outside they will track him or them down, why is that?.

Exchanges such as Binance would definitely help if a certain address had been flagged that it belongs to the hacker. It's not really their job to conduct an analysis and follow the trail of funds. What usually happens is that the victim would inform these exchanges that the hacker deposited to their platform and provide evidence.

My question to you is do you know of any hacked exchange that claims they were ignored by top exchanges after asking for help?

[lablab03]

The perfect theft in crypto is claiming that a project or an exchange is hacked when its all an inside job, the reason why I think about this is I have never heard about other top exchanges helping a exchange that just got hacked to track their funds and get some back at least but if it's a sole hacker from outside they will track him or them down, why is that?.

probably it's possible to become a inside job when it comes such situation, but for sure it's impossible to happen in some trusted exchanges that have big communities, such what is popular nowadays, coz they are very trusted and once there's a hacking issues they can fix and solve it immediately.

And if there's an exchange that has problem because of hacking, it's not necessary to help them especially with the top exchange coz it's not their problem. And basically we can called it inside job if they don't show a evidence for their community.

[Taskford]

The perfect theft in crypto is claiming that a project or an exchange is hacked when its all an inside job, the reason why I think about this is I have never heard about other top exchanges helping a exchange that just got hacked to track their funds and get some back at least but if it's a sole hacker from outside they will track him or them down, why is that?.

Absolutely that's why I never believe on those exchange which get hack unless they show a proof like reporting it to proper authority and gives updates about the situation. If they didn't show any legal proof then we can conclude that this is part of exit scam and we see some cases happen for several scam exchanges.

[bestcoins1]

The perfect theft in crypto is claiming that a project or an exchange is hacked when its all an inside job, the reason why I think about this is I have never heard about other top exchanges helping a exchange that just got hacked to track their funds and get some back at least but if it's a sole hacker from outside they will track him or them down, why is that?.

I also don't know why it happened that way because everyone who is outside the exchange or as a user of the exchange can only know it through other people's words or news written by other people.
Because every strange thing that suddenly happens in the market, only insiders or the stock exchange itself knows about it, the rest is nothing.

[Husires]

All these questions are caused by the absence of a regulatory framework for most of these currencies, and therefore who will investigate if a breach occurs? Nobody, but it is their way to get rid of legal consequences or the obligation to pay customers' money.
These risks increase if the platform is decentralized or claims to be.

• If the platform is able to work after the hack without problems, the reason may be to get rid of some legal consequences.
  
• If exchange can't keep working, maybe it's an "exit SCAM" or the hack is a true story.
• If you notice that all decentralized platforms are centralized at some point (unless you host the platform yourself) then they can steal your money and write off that you already have records.

[Jackl87]

The perfect theft in crypto is claiming that a project or an exchange is hacked when its all an inside job, the reason why I think about this is I have never heard about other top exchanges helping a exchange that just got hacked to track their funds and get some back at least but if it's a sole hacker from outside they will track him or them down, why is that?.

Well the crypto space is full of scammers and bad people that want to steal the hard earned money from others. So in theory an exchange could also do such a thing i mean, you just need to pretend, that an hacker has took control over several exchange wallets while in reality the exchange team or only one guy of the exchange team was sending those token to himself. I would guess that exchanges can be insured against hacks like that so if they can make the insurance company belief that this was really an outside hack than they would get the funds from the insurance and they would get the tokens that they have transfered.
Of course this is just a theory and i would never make such claims unless there is certain evidence.

[Coyster]

The perfect theft in crypto is claiming that a project or an exchange is hacked when its all an inside job, the reason why I think about this is I have never heard about other top exchanges helping a exchange that just got hacked to track their funds and get some back at least but if it's a sole hacker from outside they will track him or them down, why is that?.

Honestly your theory would need some backing or the other if we are to go with you, mind you that you prolly might be correct but is there anyway to be sure, a data, link or whatever that buttresses your point. But notwithstanding i would comment on the aspect i am pretty certain about even if it is slightly not in line with your topic, and it is that people should not store their funds in an exchange wallet, they should move their funds to a non-custodial wallet and have possession of their keys/seed phrase (remember, not your keys= not your funds), that way they would not have to worry if exchange hacks are genuine or if it were perpetrated by the exchange itself. Since exchange hacks are quite popular in the crypto network, it is much better to basically do whatever you want to do on an exchange and immediately move your funds into your own 'personal' wallet, even if you are to leave funds on exchange platforms, make sure it is just a very little sum.

[TastyChillySauce00]

I know that and i have been seeing so many hacked cases happened. The problem is when people keep getting trapped into the same thing again over and over. As you can see that so many people didn't even know about the truth. it's hard to predict whether that would be an inside job or not. So many times people were calling it as an inside job but again you need to prove it.
AFAIK the exchange site was not also so transparent to the its users or even investors. So, it's very hard to predict whether that was an inside job or not even when we believe that was an inside job but the none knows about the truth.

[zasad@]

The perfect theft in crypto is claiming that a project or an exchange is hacked when its all an inside job, the reason why I think about this is I have never heard about other top exchanges helping a exchange that just got hacked to track their funds and get some back at least but if it's a sole hacker from outside they will track him or them down, why is that?.

Any exchange can perfectly legally take money from its clients, because its team sees all the positions of traders and can trade perfectly. If the exchange has futures, then this is a very easy way to start earning millions of dollars. Why would an exchange initiate a hacker attack?

[Devifajarina]

The perfect theft in crypto is claiming that a project or an exchange is hacked when its all an inside job, the reason why I think about this is I have never heard about other top exchanges helping a exchange that just got hacked to track their funds and get some back at least but if it's a sole hacker from outside they will track him or them down, why is that?.

So far as long as I have been in crypto, no one has been able to prove that the exchange was hacked, let alone the absence of evidence that can be used as an accurate source, of course someone has tried to do so, because there are indeed a lot of hackers now who have the ability to do this, but is it possible? they do that, actually I doubt this is done by them, so be careful in exchanges that don't have a strong security system, maybe this is a form of their hands off for people who use the exchange

[vanesha]

I've never thought of this before, but what you're saying may be true. Usually nowadays hackers happen because of user negligence, if it is looking for loopholes from within the system itself of course it will be very difficult if they never work there, it takes a long time even with the existing security it shouldn't be completely hackable if they come from outsider.

[Similificator]

This conspiracy theory is quite plausible and may possibly be true in some cases. About other exchanges helping, well I guess every man for himself? I don't know. What's sure though is that when exchange hacks happen a lot of people get affected specially newbies because most of the newbies make exchanges as wallets and keep majority of their funds in those exchanges. Heck, if exchange addresses accept altcoins the way normal wallets custodial/noncustodial would, I bet they'd opt for an exchange rather than a safe wallet.

[cabron]

This conspiracy theory is quite plausible and may possibly be true in some cases. About other exchanges helping, well I guess every man for himself? I don't know. What's sure though is that when exchange hacks happen a lot of people get affected specially newbies because most of the newbies make exchanges as wallets and keep majority of their funds in those exchanges. Heck, if exchange addresses accept altcoins the way normal wallets custodial/noncustodial would, I bet they'd opt for an exchange rather than a safe wallet.

It could mean they are the ones robbing their own and put on a show that they were hacked. When they report like this, they should provide proof that they were hacked and how the hackers got in. This kind of gray part because revealing these loophole will ruin the reputation of the exchange and the dev team exposing their faults.

I  have that in mind when Poly Network was hacked which the hacker gave back the amount, its  quite interesting how one hacker who got the chance of his life to live not as nerdy as people would think he is, gave away the fortune. And one would think its an inside gimmick for marketing.

[Bitstar_coin]

The perfect theft in crypto is claiming that a project or an exchange is hacked when its all an inside job, the reason why I think about this is I have never heard about other top exchanges helping a exchange that just got hacked to track their funds and get some back at least but if it's a sole hacker from outside they will track him or them down, why is that?.

There is a probability some hack are inside job (just a probability and not a fact) since you can't prove the hack was aided. But sometimes if you look at the scenario surrounding some of the hacks that has happened, some are questionable, how easy it was for the hackers and sometimes some of the culprits are never caught.

The frequent occurrence of exchange hacks is enough to make people wonder and question the truth behind them. Definitely very fishy. Either the exchange itself or some disgruntled staff or an unjustly fired ex-staff wants to sabotage the success of the exchange