Hacks in November

[GreatArkansas]

Seems hacking incidents this month are really huge! Do you think this is one of the many signs that we are already in the bull run?
Hackers are everywhere and trying to take advantage of a lot of users and volume, especially in Decentralized Finance (DeFi).
I am also curious even we have a lot of hacks this month, market still holding strong.

As you can see, the recent hacks were major in the DeFi market, different platforms or networks.

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[Ben Barubal]

  If I look at the market right now, it is really bullish; in short, we may be in a minor bull run, in my opinion. Now, in terms of hack issues, this month of November is a bit bad because, of course, several exchanges have been robbed by these hackers.

  That's why yesterday I made a transaction on HTX, and then I noticed that after the address was sent from electrum to the HTX platform, I noticed that the BTC address that is often used in this exchange was different, but I didn't doubt it because I thought maybe something just changed in the platform. So I sent it anyway. After that, while I was waiting to be transferred to HTX, when I looked at my transaction history, I didn't see anything, but I still didn't doubt it because I thought maybe something was being fixed in the exchange.

  But later, after an hour, the transaction on Electrum was completed. When I looked at HTX, I suddenly saw the address that often, when used, suddenly appeared, and my history records on the platform for deposits and withdrawals suddenly appeared. Here it is. I doubted. That's why I found out that I was phished too late. Somehow,  I got about 80 dollars. That's why I said to myself that it is no longer safe to use HTX because it recently had an issue and then yesterday it happened again. It is no longer normal and it is not safe. Lesson learned on my part.

[SPARE]

Day by day the trend of this type of hacking is increasing and if the trend of hacking continues to increase then at some point people will turn away from cryptocurrency and trust in cryptocurrency will be lost because many people have lost their many assets and become destitute.

Is there any way to avoid this type of hacking or not, this type of hacking is not actually done by the project team or the exchange team, any hacker actually hacks it ?

[ryzaadit]

-snip-

Do you know? most hacked is always targeting third-service providers.

The attacker cannot attack a network, because is impossible they always attack a service-platform. You want to avoid these kind of case? stored your coin with your own wallet while you can have fully-control of your asset.

Not stored coin in exchange because "Not Your Key, Not Your Crypto".

[Samlucky O]

For me I don't really think it for the purpose of the bullrun. Reason been that hackers have been hacking for a very long time not only the bullish season but maybe their activities are more frequent these days, making it seems it's for the bullrun.

Sometimes I wonder how these exchanges are careless to the extent of been hacked. Because the kind of money in there custody requires them to secure the wallet by looking for a strong hacker that will also monitor there wallet in case of Crypto hacks.

[royalfestus]

Day by day the trend of this type of hacking is increasing and if the trend of hacking continues to increase then at some point people will turn away from cryptocurrency and trust in cryptocurrency will be lost because many people have lost their many assets and become destitute.

Is there any way to avoid this type of hacking or not, this type of hacking is not actually done by the project team or the exchange team, any hacker actually hacks it ?

There are few thing about the size of the hack that I dont believe, It is inflated in my own opinion. Some idea of cryptocurrency is to begin as being unattractive then it get better and people get late. There will be a bull market no matter the challenge, dont ever lose your sight on the goal because of the hack news.

[Publictalk792]

It is really sad to see more hacking happening this month especially in the DeFi market. These kind of incidents show that decentralized platform are also weak and risky. Hackers always try to take advantage of people and money but don't worry these kind of incidents always happen in the market but market didn't show any bad moment. Because the market is still strong because people trust it. When a hacker hacks any platform so he indicates that you platform has a loose point you have to improve it. And now it is  on the platform how much it secure itself from these kind of future hacks. 
If hackers are smart so the platforms also keep their security more strong and when they saw any loose point so they should improve it immediately.

[martinex]

We also don't know when all this will end, will it continue to happen over and over again because there is no perfect system, there are always loopholes for scammers to enter in different ways and the most ridiculous thing is if it was done by them themselves (exchange owners) with the alibi of their site being hit hack.

[vinc3]

Seems hacking incidents this month are really huge! Do you think this is one of the many signs that we are already in the bull run?
Hackers are everywhere and trying to take advantage of a lot of users and volume, especially in Decentralized Finance (DeFi).
I am also curious even we have a lot of hacks this month, market still holding strong.

As you can see, the recent hacks were major in the DeFi market, different platforms or networks.

The recent surge in hacking incidents, particularly in the decentralized finance (DeFi) sector, may indeed be indicative of increased activity and attention, often associated with a bull run. As the cryptocurrency market gains momentum, it attracts both legitimate investors and malicious actors seeking to exploit vulnerabilities.

The resilience of the market in the face of these hacks could be attributed to several factors. One possibility is that the overall confidence in the broader cryptocurrency space remains strong, leading investors to view these incidents as isolated challenges rather than systemic issues. Additionally, the market may be responding positively to the proactive measures taken by platforms and the community to address and mitigate these security breaches.

It's crucial for participants in the cryptocurrency space to stay vigilant, prioritize security, and learn from these incidents to enhance the overall resilience of the ecosystem. As the market evolves, ongoing efforts to improve security measures, educate users, and strengthen the foundations of decentralized finance will play a pivotal role in maintaining market stability.

[Text]

I do not view these incidents as a sign of a bull run. For me, it is an indication that cybercriminals are actively exploiting the growing interest and liquidity in the DeFi sector. That's why it doesn't matter whether the market is in a downtrend or uptrend. Similar to what happened to me before, even though it wasn't a bull run at that time and the market was still declining, my holdings were compromised, and my wallet was still affected. These kinds of scenarios only prompt platforms to find ways to enhance security and implement prevention measures when a breach has already occurred in their system.

[PrivacyG]

It is rather a sign for all of us to stop spreading funds all around without prior research and we should start limiting ourselves to the safest options.

At this point I believe all the Services currently in existence are at risk for a future hack.  We have heard of pretty much ALL big Services getting hacked at some point in the past.  Do we really think the next big ones will survive?  Quit putting your Coins on random platforms.  Start being your own boss!

[Makus]

This is one of the more reasons why we shouldn't keep our funds in exchanges, the main purpose is for swapping and exchanging coins to fiat, nothing more. If your coin are still in a exchange you are only endangering yourself by keep your money open for hackers to come in. The rate at which hackers operate these days is too frequent than normal but yet, the market is still striving for a bullish movement. I won't say we are already in the bull run because what is see is a sideways. I don't think these hackers are going to stop any sooner but rather they continue to grow in numbers, our sole job is just protect our funds the best way that we can. Having learnt that they can actually hack through your phone to steal your coins I think the best option for max security is to use an air gapped device with a hardware wallets.

[Mpamaegbu]

Seems hacking incidents this month are really huge! Do you think this is one of the many signs that we are already in the bull run?

Definitely, of course, that's an obvious sign that the bull run is here. No one throws stones at unripe fruits on trees. There's a local saying that the easiest way to know that a tree has ripe fruits on it is to look at its foot and the evident of stones cast will be there. That's what's happening now in the crypto space. Scammers, hackers are on the loose now and are all trying to grab whatever they can lay their hands on. We hardly hear of these criminals during a bear market.

By the way, I didn't know that Poloniex was still operational. It used to be a big exchange in the past.

[LogitechMouse]

~
Seems hacking incidents this month are really huge! Do you think this is one of the many signs that we are already in the bull run?
Hackers are everywhere and trying to take advantage of a lot of users and volume, especially in Decentralized Finance (DeFi).
I am also curious even we have a lot of hacks this month, market still holding strong.

As you can see, the recent hacks were major in the DeFi market, different platforms or networks.

Hacking incidents becoming more frequent = sign of a bull run? I don't know, but hacking is happening whether the market is in a bull run or a bear. I don't know if I can use it as a sign because these platforms getting hacked all the time. It's just me though.

Hackers really are everywhere. When there's money involved, they are there. They are remorseless. They will do everything just to get every single cent that you have in your wallet. Right now, being more vigilant is a must. Being ignorant in the world of investing will lead to scammers scamming you. Newbies are supposed to learn first before investing. Knowledge is needed in order for the investors to at least lessen the chances of them getting scammed.

The market still holding strong even though lots of hacks are happening. I guess investors don't really care about it anymore because of the fact that it's happening more often already. I mean investors aren't panicking already, especially when the platform that got hacked only has a few hundred thousand users. It wasn't a hack per se, but the FTX drama really was the one that affected the market negatively. These hacks are really huge but weren't huge enough to affect the price of the top coins.

[Husires]

DEX services and bridges have become more likely to be hacked several times in recent years, and all of these incidents in one month indicate either that they are not focusing on customer security or that there are real vulnerabilities in smart contract bridges or internal attacks, and all of these, with the possibility that prices will rise in the coming months, are a warning. Everyone knows that keeping your money in unknown services or wallets or using these services may lead you to lose your money.

[Bureau]

Seems hacking incidents this month are really huge! Do you think this is one of the many signs that we are already in the bull run?

How can hacking indicate that the market is in bull run. It only indicates how vulnerable the following listed project were and how much loss they have suffered. Hacking incident can only make the market worse as they would lead to negative news and trust issue. A negative news never encourages a bull run but negative sentiments. A bull run won't come till next year as Bitcoin halving is expected to happen in 2024.

As per my understanding the market is more focused on SEC's decision. They have been in new a lot in last couple of months. If anything positive comes out from SEC then we might see a rally before the end of this year.

[God bless u]

Seems hacking incidents this month are really huge! Do you think this is one of the many signs that we are already in the bull run?

It's very unfortunate that crypto hacking is increased especially in the defi sector..I think hacking has no much relationship with bull run.. Whenever hacker successful to exploits any contract, he will not think how much fund is available.. He will not wait for bull market..It is free money and he will steal whenever he got opportunity regardless of bull or bear.

Hackers are everywhere and trying to take advantage of a lot of users and volume, especially in Decentralized Finance (DeFi).
I am also curious even we have a lot of hacks this month, market still holding strong.

As you can see, the recent hacks were major in the DeFi market, different platforms or networks.

This chart shows only Defi hack and there are lot of phising, telegram scam and wallet hacking on the daily basis..Centralized exchange Binance also faced SEC issue but market is still looking strong.. I think the reason behind is ETF.. People know that one good news will push btc above the 40k which is positive sign for crypto market.. This is the reason people are not selling despite of bad news.

[btc78]

i don’t think we are in a bull run already but rather is approaching it

regardless there are always hackers at any time of the year
these hackers study exchanges and how they operate so most likely they’ve planned this months ago
if an exchange was hacked, its users will suffer and the exchange will suffer in the long run because they would have to redeem their image and gain back their customers’ trust which would be contradicting to say that hacking incidents are associated with  bull run

[slashz9]

Why is it that most Defi are always targeted by hackers, is the security of Defi very easy to hack?
however those in defi should have anticipated this after seeing other defi projects hit by hacks

[huu78]

Day by day the trend of this type of hacking is increasing and if the trend of hacking continues to increase then at some point people will turn away from cryptocurrency and trust in cryptocurrency will be lost because many people have lost their many assets and become destitute.

Is there any way to avoid this type of hacking or not, this type of hacking is not actually done by the project team or the exchange team, any hacker actually hacks it ?

I also doubt that, they could say that but in the end the case was not fully investigated, they just said that their exchange had conceded without any resolution or responsibility from the exchange.
Does something like this happen purely because of hackers?