Not all hacked on exchanges are real

[Devifajarina]

actually no one really knows who is the mastermind behind the hack, but from the conclusions I read from the opinions here, the exchange party will definitely seek the truth if it is an insider / outsider who did it
and hacking is often used as an excuse for the exchange when the token value goes up 100% and even more so that there is an improvement

Even if it is true that this is done by hackers in carrying out hackers, it may be very difficult to reveal who is behind all of this, unlike if this is done by insiders, it must be very easy to find the perpetrators who carried out hackers, because after all access to enter the system is very dependent on the command. given, a hacker doesn't easily hack if not given access as a notification, there are definitely controls that can be turned off if this happens by an outsider

It's difficult but it's possible. Many crypto hackers on the past have been busted out by the authorities. Once some of the members gets caught, authorities can do something like scaring them to tell if who is their mastermind and who are their other members. If it's an inside job then that is much more harder to solve the case because no one will tell the truth as all of the personnel agreed with that before. They shared the money equally, that's why no one will betray the other.

Hackers are smart dudes and they can bypass any system as long as they are dedicated enough and it won't matter to them even if the security is strong or if they can't get any help from the inside.

What I know is that how to do hacking has different levels, but almost all victims who are hacked, both corporate and personal, always have a notification that becomes an alarm, this is impossible for a company not to make a security system that does not give an order to stop, meaning the control center always guarded with a strict security system, I believe this is done by insiders, of course hackers have very intelligent abilities, because they enter the system, there is no way this can be done by ordinary people

[Sled]

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?.

One example of how this inside job scheme happens,
https://dailyhodl.com/2019/04/01/inside-job-19-million-bithumb-hack-exposes-major-problem-with-cryptocurrency-exchanges/
But never did I think this involve the owner itself, it was their staff, who does the work and secretly do the transfer.

In some cases, this becomes a dirty tactic that mostly happens to scam sites, they pretend to be hacked and announced it publicly but the truth is that...it was an exit scam. Many exchanges have been doing this thing and a reason that we have to use reputable exchanges.

 

[justdimin]

Actually I also have a strong suspicion about it, a program that was created must have been equipped with high security layers. Especially when it comes to user property rights, such as brand assets on the platform, of course the security of the platform is made as perfect as possible. While there must have been a loophole, it would have taken at least years to get to it and it wasn't easy, unless it was an insider's negligence that led them to lose their exchange assets through their own fault.

I would guess that a bad security is not out of question neither. I get that everyone thinks "if you are guarding millions of dollars then you would have a good security" but you have to remember it is not their money and they do not care about security as much as you think they do, they say they do but in reality, they don't.

There was a company in my nation that said they care about security to an insane level, like they spend 70% of all their profits to constantly increase their security and we are talking about tens of millions of dollars when we say 70% of their profits, so what kind of security would you imagine if you spent tens of millions of dollars on it? Great one right? Well, they got hacked and they are now gone, so it means they lied to us or they were screwed as well. So do not imagine it to be as truthful about it as they might be.

[max6575]

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[Smitty Werben Man Jensen]

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 a very interesting conspiracy theory, indeed, it's possible that a news about exchange hacking could have been made by their own team,
I don't know what that strategy is, is it possible to make a Bitcoin Dump price or what?, I really want to know the truth, but there's another part,
because if their own team made up fake news about hacking, then it could be their own boomerang

[Silberman]

Actually I also have a strong suspicion about it, a program that was created must have been equipped with high security layers. Especially when it comes to user property rights, such as brand assets on the platform, of course the security of the platform is made as perfect as possible. While there must have been a loophole, it would have taken at least years to get to it and it wasn't easy, unless it was an insider's negligence that led them to lose their exchange assets through their own fault.

I would guess that a bad security is not out of question neither. I get that everyone thinks "if you are guarding millions of dollars then you would have a good security" but you have to remember it is not their money and they do not care about security as much as you think they do, they say they do but in reality, they don't.

There was a company in my nation that said they care about security to an insane level, like they spend 70% of all their profits to constantly increase their security and we are talking about tens of millions of dollars when we say 70% of their profits, so what kind of security would you imagine if you spent tens of millions of dollars on it? Great one right? Well, they got hacked and they are now gone, so it means they lied to us or they were screwed as well. So do not imagine it to be as truthful about it as they might be.

In the particular case that you are bringing it is obvious they were lying, no company is going to spend 70% of their budget on securing the funds of their customers as that would be highly inefficient, and the fact they got hacked shows this was not the case and this was nothing more but a way to try to sell the image they were extremely conscious about the security of their clients only to fail at the end, something that is also quite common in this market.

[7788bitcoin]

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 are instances where there was an inside job and there are instances when exchanges helped in returning the hacked funds, so it is not like none of the exchanges will help in returning the funds but there are hacks which were dubious to begin with and the funds tends to be mixed using a mixer before loosing the trail and in those instances it is really difficult to track.

[bitcrystal]

very many people also do not believe in exchange hacks to be 100% real as many are self induced or self created. despite that i also think its not always right, i dont have a proof but am convinced that not all are real.

[boty]

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?.

when it real, between crypto exchanges must collaborate to track assets from exchanges hacked, so thief should has serious problem when they sold assets into another exchanges.so far alot big question about hacking case in exchanges, assets stolen never tracked and few of them caught up by police. as solid crypto ecosystem, each exchanges must support each other to track assets so will give protection to user itself.

[jrrsparkles]

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?.

It can be true, the creator of exchange is waiting for the perfect time to exit scam and as you said it is not possible to find whether its an insider job or not but even if the exchange is not tracking still some of the address are known to the public which can be used to track and where all those funds went and laundered into money.

[adiebitsler]

very many people also do not believe in exchange hacks to be 100% real as many are self induced or self created. despite that i also think its not always right, i dont have a proof but am convinced that not all are real.

When we don't have accurate evidence, then it's also not appropriate to accuse him properly even though it has been strongly believed by each person's heart for various reasons. So we can only see and read through the news that is presented without actually knowing how.

[Dart18]

They will help if the funds was sent to their receiving addresses. That is, if the the exchange claiming it can show proof about the transaction.
If not, then they do not have any responsibility to help them. In the first place every exchange should have better security and better team to be able to fix this type of concerns.
But you are right, not all are hacked by a hacker but some cases are inside jobs.

[SistaFista]

If they are not really have been hacked, then it would be a planned exit scam.
But the chance for exchange to getting hacked is possible if their security have some flaws.
The best thing we can do is never put our money with huge amount in the exchange, better store it in our own wallet.

[Accardo]

Op is right if he meant that an insider helped the hackers to do their job but, on the other flip a genuine exchange cannot cooperate together as a team to take traders funds and blame it on hackers. Most of the successful hacking attacks succeeded through the help of an insider or the loophole of their firewall.

[max6575]

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[fullhdpixel]

Without any real evidence we cannot say that there are traitors in a project, why is it difficult to track down hackers of course they have planned well when committing crimes, in fact they have tracked the hackers but the transaction address used is indeed very special so it is very difficult to track their whereabouts, but there are some projects that are betrayed by insiders.

There are plenty of exchanges that got hacked and we followed them pretty easily. We have to remember that bitcoin is "sort of" anonymous, as in you get to watch and learn what they are doing and where they are sending the money but you may not know who they are.

This causes the issue of being "sort of" because the money can be tracked via addresses wherever it goes and if they put it in another exchange in order to withdraw it will be caught and they will be caught as well if they have KYC there, if not then they can hide who they are so it becomes sort of anonymous in that sense. I personally believe that catching the hackers is not an issue at all, it's stopping them.

[TravelMug]

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 somewhat agree to some extend, this is what we call inside job. If my memory serves me right, it was very rampant in 2018, wherein there will be new exchanges so traders flock into them then suddenly they will report a hack, closing the exchange for good with all the money and funds from traders and you don't know if this is a real hack or not. That's why even in 2022, it's better not to trust new exchanges in the beginning and just trade on those who have built their reputation already.

[Rampagoe004]

Indeed hacking we have often listened to on crypto exchanges today, maybe the popularity of crypto has attracted many people because of the existence of assets so large that crime began to arise by certain people, every hack that occurs is very difficult to find the perpetrators even though they have left evidence of transactions but the existence is difficult to track, so I do not think that those who do are insiders, Because there is no evidence that we have found to date.

[Blowon]

Actually I also have a strong suspicion about it, a program that was created must have been equipped with high security layers. Especially when it comes to user property rights, such as brand assets on the platform, of course the security of the platform is made as perfect as possible. While there must have been a loophole, it would have taken at least years to get to it and it wasn't easy, unless it was an insider's negligence that led them to lose their exchange assets through their own fault.

-snip-

I'm sure that no matter how hacked they are, we can't really blame them because it's certain that in an exchange to store users' assets, they always prioritize the security of their users' assets from hacker attacks. At least they put 2fa as the main security for their account it must be layered again with security in exchange it makes security layered. Unfortunately hackers always find any way to break it all, there are always loopholes in every security. Even when you say exchanges in your country have insane security that they can hack, this is actually hard to understand, but it's a true fact because I've also heard of major exchanges getting hacked even with high security.

[darewaller]

I'm sure that no matter how hacked they are, we can't really blame them because it's certain that in an exchange to store users' assets, they always prioritize the security of their users' assets from hacker attacks. At least they put 2fa as the main security for their account it must be layered again with security in exchange it makes security layered. Unfortunately hackers always find any way to break it all, there are always loopholes in every security. Even when you say exchanges in your country have insane security that they can hack, this is actually hard to understand, but it's a true fact because I've also heard of major exchanges getting hacked even with high security.

That is the discussion here, not all of them are hacked. Sometimes they just say that they got hacked, but instead they just steal your money and that is it. I personally agree that there are some out there who steal our money and claim that they got hacked and run away with that money without any problem because they just claim they got hacked.

I have been around for many years now and I can say that it has been a while since I saw this happened, but I have faced with plenty of them back in the day, up until 5 years ago this was the norm for most major exchanges let alone the little ones. So, it's really a common tactic for sure without a doubt.