"Why do you say so?"
Tick tock tick tick 💣 only a matter of time, I hope this only strengthens their systems, basically if anyone says anything about something being “unplanned maintenance, you’ll find me in the hills ⛰ runnin’!! Come on people not you 🔑 keys 💸 poof like a fart in the wind.... gone. Got ya fam lol 🤜🏻🤛 Think Justin “donation” caus he knows cz will say we’re good? Won’t happen never should think about rollback EVER!!! - Man, its really disappointing to see such occurrences. Each time sometime like this occurs it takes a space's legitimacy down a notch. 😔
Not shocked at all other exchanges just as big have been hacked before.hackers are always a step ahead and always find new ways to steal what they want - There's too much upside in it for them to do so! And it's not too difficult to cover up your tracks too.
All of it can be "hacked" vanish like a vapor - Poof! Funds ain't SAFU.
It was shocking - Big news! 📰
yes & no both. no matter how much secure we consider our system is there is always somebody who will out smart us. for the value the exchanges store they will always be a target & we will hear similar stories time & again. important that we understand that it is always wise to expose / keep very small funds on exchanges & rest in secure hardware wallets. not your private key not our asset. - Yeah it's a great reminder and wake up call to never store your funds in an exchange. Always have a paper wallet, or even better a cold hardware wallet! ✋
It is very concerning. But I am not surprised. All of this technology is still new, and over time the bugs will be exterminated. - All in due time. Let's hope that its soon though. The space really needs it! 🙏
Not really familiar with their security protocols. I would have thought that one of the biggest exchanges wouldn't get hacked though. Could there be foul play here as well? - Who knows, really? This space is still considered to be the wild west. I would be so disappointed if it were the case though. 😔
They are the biggest and the most targeted. It's similar to how most viruses are created for Windows based computers simply because there is more of them. If you're sending phishing type emails or IMs, why not target the largest attack surface, or in this case, the exchange with the largest user base. If you send out 1 million phishing emails posing as Binance, maybe 200 of those people are actually Binance users. Out of those 200, maybe 2 fall for the phishing. If you target say Bittrex users, out of those 1 million emails, maybe 5 are actually users. - True. They definitely are the biggest target. 🎯
happy - whut. 🤨
Big company like this should have the protocols etc in place to avert hacking and not the first time BTC been stolen. Surely all share in order to learn and prevent. - I'm sure they do, just perhaps not sufficient protocols this time. A very painful lesson indeed. 🤕
This is a disaster and has a very devastating impact on the future of this industry, especially on large and potential capitalists. - It might've deterred some institutional investments.
I thought they were very secure. - Funds not as SAFU as expected. 💸
Binance seems to be an exchange which has all the vulnerabilities covered. - Yeah that's what I thought too. I guess anything really can happen in this space. At this point, nothing much surprises me. 🤷
Doesn’t make it safe. Hope it doesn’t affect people’s confidence in it. - Yeah.
My past reading indicated that Binance and Coinbase were the most secure exchanges. Is nothing sacred? - Yeah they are both supposed to be so.
Because I couldn't believe that exchange which considered the biggest and most popular in the world of cryptocurrency can be hacked so easily... - Fortunately they were able to cover the losses of their customers this time.
Not shocked it was only a matter of time, it's an inside job FO SHO - I certainly hope not!
When so much money is at stake there are bound to be a bunch of bandits chasing after it. Constant vigilance and improvement in security is the only solution ! - This was a very painful lesson for the space. I really hope that exchanges spend as much as they can on security, given the amount they are currently raking in. 💰
A centralised exchange is easier to hack than a decentralised one.......or have I got that wrong?? The Bitcoin chart looks great where it is! - Yes, because for decentralized exchanges you are in control of your private keys. For centralized exchanges, they control your private keys for you. As long as you control your own keys, you are safe. Oh and that Bitcoin chart! I alternate between using that and the total market capitalization chart. The reason I do this is cause 2 graphs might confuse people, so I use the one that is most relevant for the day, depending on the price action market summary section!
I guess I'm somewhat shocked because I'm not a system developer so I don't understand how difficult it is to secure sites. But it seems to me that there must be ways to prevent this from happening, especially if you have the resources Binance has. I'm not so shocked because if you're on the interest, you can be hacked. - True. As long as you're online, you will always be vulnerable. 🎯
If an exchange gets hacked for $41 M, what confidence does that give to we little people that our investment dollars are safe? - The way we can protect ourselves is to store our funds in hardware wallets and only use these exchanges to trade and nothing else. 🙃
It wasnt really a hack. The bad guys just guessed the right password, the right username and the right 2fa :p - They would need access to the private keys too though. 🤔
I thought Binance is safu, but we need to wait until we have the information how this hack was executed or if this probably was an inside job. - Everyone certainly thought so. Guess the funds really weren't that safu. 😔