FortuneJack experience so far so good but I have a few questions

[Crypt0Gore]

I have been disbursing more time on FortuneJack this days since it's been suggested to me on this forum but a question pop up in my head today and I think its better to ask, (1) Binance exchange has collateral fund in case any hack takes place or users lose funds, is there any gambling website that has the same just in case? (2) is there any gambling website that got hacked and reimbursed their users in the past and they still functioning till date?.

[Oshosondy]

I do not know this about game sites, but exchanges are far more risky as they use hot wallet for customers fund to make fast transactions possible.

What I know about gambling site is that the more they are established, the more they will have something like that.

But know that it does not mean, there are many new gambling sites on this forum that are very good and perfect and no issue of hack. But we should not leave our money on centralized platforms, only leave the amount you want to use to bet on gambling sites.

But I am not worried about gambling sites like the way I am worried about those centralized exchanges that are prone to attack.

[mindrust]

I have been disbursing more time on FortuneJack this days since it's been suggested to me on this forum but a question pop up in my head today and I think its better to ask, (1) Binance exchange has collateral fund in case any hack takes place or users lose funds, is there any gambling website that has the same just in case? (2) is there any gambling website that got hacked and reimbursed their users in the past and they still functioning till date?.

Surprisingly, I have never heard of a casino hack before. Exchanges are getting hacked left and right but I don't remember any major casino going bankrupt for getting hacked.

Which makes me think... those exchange hacks are probably done by the insiders because the exchanges hire lots of people and when there are lots of people in a payroll, some fuck ups will inevitably happen.

Casinos usually operate with much less people so it is easier to keep them in check. To answer your question, I haven't heard of any casino doing what you asked.

Maybe it will be a thing when some of them get hacked in the future. (hopefully not)

[Pmalek]

Surprisingly, I have never heard of a casino hack before. Exchanges are getting hacked left and right but I don't remember any major casino going bankrupt for getting hacked.

Same here. It's rare to see a few months go by without a breach happening on some centralized exchange somewhere.

If you look closely at the Terms & Conditions of crypto casinos, you will notice they mention in one way or the other that players can't hold the sites accountable if an unforeseen incident happens. Major hacks and security breaches are examples of such incidents. I doubt many would or could (if they wanted to) compensate their users if something like that happened. It's their goodwill to do it unless the terms state otherwise. 

[bitcampaign]

So far as I know there are not many cases of hacking gambling sites let alone casinos, on the contrary there are always many hacking cases on exchange sites, I don't know much about the development of fortunejack sites now because my account there is locked and can't be accessed so I forget it but as long as I play there, their site is very safe so you don't have to worry about that

[Adbitco]

Around the forum i have not seen or witnessed any hack on the gambling website, this is only common to exchangers and in most cases doesn't has collateral fund unlike the tie 1 and 2 exchangers does. Sometimes in early April 6th 2022 a well known local betting site was hacked some local currencies were made away and i don't think people's fund refunded or something similar, since i m not user of that site. ^source
So from my experience here such have never happened before, rather the only complaint i have seen so far is gambling site banning them due to inaccurate and appropriate information submitted during KYC's.

[Slow death]

I have been disbursing more time on FortuneJack this days since it's been suggested to me on this forum but a question pop up in my head today and I think its better to ask, (1) Binance exchange has collateral fund in case any hack takes place or users lose funds, is there any gambling website that has the same just in case? (2) is there any gambling website that got hacked and reimbursed their users in the past and they still functioning till date?.

I don't understand, you're in a section that talks about gambling but you're asking if binance has the money to pay people in case of a hack? As far as I know, yes, they have the money to make this commitment, I don't remember the source where they talked about it, but back to the casino issue, there are few cases of hacking in casinos, don't worry about it. just worry about using reliable casinos that at the time of withdrawal they don't take long and they don't fail be careful with new casinos especially when they ask for KYC, doing KYC in a new casino is very risky mainly because they still don't have a reputation and there is no guarantee that they won't can steal your money and sell your documents to criminals on the black market

[_act_]

I don't understand, you're in a section that talks about gambling but you're asking if binance has the money to pay people in case of a hack? As far as I know, yes, they have the money to make this commitment, I don't remember the source where they talked about it

He is only using it as an example about the question he wanted to ask which is if gambling platforms are also having a means to pay customers back their money if the money is stolen by hackers from the the gambling site. This can be very possible with crypto gambling sites, but I do not think it is possible with fiat gambling sites.

but back to the casino issue, there are few cases of hacking in casinos, don't worry about it. just worry about using reliable casinos that at the time of withdrawal they don't take long and they don't fail be careful with new casinos especially when they ask for KYC, doing KYC in a new casino is very risky mainly because they still don't have a reputation and there is no guarantee that they won't can steal your money and sell your documents to criminals on the black market

That does not also mean that old casinos can not sell your data too, as far as you give out your data, it can be used for inappropriate purposes for their own gain. But new sites should not be trustworthy, there are ways you can be able to know if a new site is a scam or not, but new sites pose more risks.

[Findingnemo]

I have been disbursing more time on FortuneJack this days since it's been suggested to me on this forum but a question pop up in my head today and I think its better to ask, (1) Binance exchange has collateral fund in case any hack takes place or users lose funds, is there any gambling website that has the same just in case? (2) is there any gambling website that got hacked and reimbursed their users in the past and they still functioning till date?.

IMHO, gambling sites doesn't have feature like SAFU but they don't keep all the funds in their hot wallets, most of the investors funds will be moved to the cold storage so its like 70 to 80% of their funds will be safe even in the total hack. But the question you asked is really urging so in future casinos will have feature like this to make their customers feel safe and lure more people with such satisfied customers?

[blockman]

Let's think that in case of something like that happened, they are ready and anticipated that it could happen to them some time but not fully expecting it because they're more invested in their security.
But, if that ever happens, you should think that they might just say that all funds are affected and they could do a refund, full, 50%, 10% or any percentage that they might tell because we don't know how they'll deal with it.

[Beparanf]

I have been disbursing more time on FortuneJack this days since it's been suggested to me on this forum but a question pop up in my head today and I think its better to ask, (1) Binance exchange has collateral fund in case any hack takes place or users lose funds, is there any gambling website that has the same just in case? (2) is there any gambling website that got hacked and reimbursed their users in the past and they still functioning till date?.

Crypto exchange earns huge profit from the huge trading volume fixed while casino only rely on the house edge and if players lose to earn profit which means they don't have that much funds compared to crypto exchange like Binance thatncan afford to have an insurance feature to all there customers. Most of the casino that got hacked usually closed and declared bankruptcy especially if the damage is huge. There is no casino offers this kind of insurance thing if you read  all of there terms.

[TimeTeller]

I have been disbursing more time on FortuneJack this days since it's been suggested to me on this forum but a question pop up in my head today and I think its better to ask, (1) Binance exchange has collateral fund in case any hack takes place or users lose funds, is there any gambling website that has the same just in case? (2) is there any gambling website that got hacked and reimbursed their users in the past and they still functioning till date?.

IMHO, gambling sites doesn't have feature like SAFU but they don't keep all the funds in their hot wallets, most of the investors funds will be moved to the cold storage so its like 70 to 80% of their funds will be safe even in the total hack. But the question you asked is really urging so in future casinos will have feature like this to make their customers feel safe and lure more people with such satisfied customers?

I also believe the reason why there's nothing like SAFU in gambling sites is because they really do move their funds to their cold storage.
There may be abuses in terms of bonuses or rewards, but hacking is not very often you can hear from gambling sites.
If in case of hacking incident, I think they are fast enough to detect the anomaly.
Though there was one gaming site, Axie Infinity, where hackers got away $620M in crypto.

https://www.bleepingcomputer.com/news/security/hackers-stole-620-million-from-axie-infinity-via-fake-job-interviews/

[acroman08]

Surprisingly, I have never heard of a casino hack before. Exchanges are getting hacked left and right but I don't remember any major casino going bankrupt for getting hacked.

not sure if betking.io was a major casino back then, but I remember seeing a thread where they claimed that they were hacked and closed their gambling site. not sure how true their claim was since there are members there who were sceptical about the hack that had happened to betking.

[Johnyz]

Casinos looks more secure from the hackers, I don't know if they just didn't disclose this but I didn't hear any news about this kind of incident, so I think gambling site are safe as long as you are dealing with the good project. I'm also not familiar with the site that offers collateral if something bad happen with the site, just to be more safe better not to store money on any gambling site because we can't really know if it's possible or not until it happens.

[Saisher]

I have been disbursing more time on FortuneJack this days since it's been suggested to me on this forum but a question pop up in my head today and I think its better to ask, (1) Binance exchange has collateral fund in case any hack takes place or users lose funds, is there any gambling website that has the same just in case? (2) is there any gambling website that got hacked and reimbursed their users in the past and they still functioning till date?.

So far we have not read about any casino hacking because they are taking care of their Whitelabel partners and in case there are I don't think you can ask them to reimburse you because there is nowhere in their TOS that they will do a refund in case their casino got hacked, it still depends on the casino if they are going to refund their players but I doubt they will, casinos are very much different from exchanges when it comes to the security.

[maydna]

Even if gambling websites are hacked, I don't think they will make it public because it is something bad that could happen to them and even result in their casino being abandoned by users. They will refund all their users and say there was a system update or something to remove the user's worries. This will also allow the casino site to maintain its reputation. I've never heard a story about a hacked casino, but it may happen before.

[goinmerry]

I have been disbursing more time on FortuneJack this days since it's been suggested to me on this forum but a question pop up in my head today and I think its better to ask, (1) Binance exchange has collateral fund in case any hack takes place or users lose funds, is there any gambling website that has the same just in case? (2) is there any gambling website that got hacked and reimbursed their users in the past and they still functioning till date?.

(1) Crypto exchanges and crypto-gambling sites do have different forms of regulations. Here in crypto, don't expect a sort of insured money protection in case them messing up with their customers.

(2) In most cases, those sites are not hacked but rather turned into scams. If a reputable gambling site got hacked, it's not that users' wallets will be depleted but rather the site's hot wallet. Those accounts that experienced deductions or unauthorized withdrawals on their balance were likely got hacked because of the users' fault.

[Jemzx00]

Both platforms are completely different in almost every aspects. Also, Exchange platform are prone to hacking as it holds not only bitcoin but rather almost all cryptocurrency out there which is also why they have reserves in case something were to happen. Regulation on both platforms also differ on each other as there is much more required documents and regulations on exchanges compared to online casinos.

There have been almost no hacking incident reported on gambling platforms other than the casino itself scamming it's users so that's why it's a must to choose a gambling platform that has a good reputation.

[goldkingcoiner]

I have yet to hear about a online gambling casino being hacked. I have heard many times about crypto exchanges getting hacked, but never a casino. Maybe gambling casinos just have way better security and/or easier code? I am sure that the casinos are working together with the partnered exchanges to hedge their risks and have some backup plans in case of a hack. They definitely have the money to reimburse any players after a hack, since gambling casinos make such nice profits.

A good reputation is a completely different issue. Any platform can be hack-free and have a bad reputation. But in the case of Fortunejack, their reputation is pretty much spotless.

[Mahdirakib]

@Crypt0Gore, The title of this thread doesn't match with the questions which you have made in your main post. You should change the title of your thread.

(1) Binance exchange has collateral fund in case any hack takes place or users lose funds, is there any gambling website that has the same just in case?

Gambling website doesn't work like an exchange site. Most of the gambling site have hot wallet and cold wallet. They process the withdrawal of the users from hot wallet, but they never keep big funds in that wallet. Gambling site keeps a bigger part of their bankroll in the cold wallet. Therefore you won't be able to bankrupt a casino by hacking the casino website only. In the past, some gambling site was showing the proof of their bankroll by providing a signature message with their cold wallet address. But this trend isn't available anymore.

(2) is there any gambling website that got hacked and reimbursed their users in the past and they still functioning till date?.

Probably not. A scam casino Betking was hacked in 2019. However, everyone has doubt about the hack story (that's a long story). A different casino (Bitsler) had refunded some players of Betking casino who lost their funds for the hack. Read this post and check this thread to know more about the refund story: BetKing.io Refunds - Partnership with Bitsler -Promo ended