Messages

46

Crypto Discussion / Re: The No.1 exchange Binance got hacked. Are we safe? Can hackers be stoped?

« on: May 23, 2019, 11:51:40 AM »

There are still no exact information about how the exchange actually got hacked.. i have seen so many videos that state that someone from the inside conducted the entire hack
so things are not yet transparent

47

Crypto Discussion / Re: Views about binance exchange getting hacked

« on: May 23, 2019, 11:49:15 AM »

Nice one lily ..
I had no clue about the 2018 news demand for payback

48

Crypto Discussion / Shutting down of Crypto Exchanges in India – Opening Doors for Registered Crypt

« on: May 16, 2019, 03:34:54 PM »

Shutting down of Crypto Exchanges in India – Opening Doors for Registered Crypto Exchanges

Coinome, the cryptocurrency exchange in India, upheld by the online payment gateway Billdesk announced the closure of its activities with its operations halting from 15th May.
Recent regulatory changes presented by the Reserve Bank of India (RBI), an absence of policy clarity from the government, and a consequent low shift in the trading volumes, are believed to be the reason behind this move. The RBI’s circular came after it was seen that few organizations had begun dealing in cryptocurrency once again over thousands of digital currencies, the government and the RBI guarantee, had no intrinsic value – leaving investors at risk.

“Moreover, it stays unclear if the organization intends to leave the Indian market completely or has just temporarily shut the exchange platform off”.

Read more on Source: https://www.bulletincrypto.com/shutting-down-of-crypto-exchanges-in-india-opening-doors-for-registered-crypto-exchanges/

49

Crypto Discussion / Re: Binance Hack

« on: May 16, 2019, 03:30:15 PM »

check out this article
•   Binance is lying outright or by omission.
•   This article has made me think about binance getting hacked from a different point of view
•   Source: https://www.reddit.com/r/CryptoCurrency/comments/bmou61/connecting_the_dots_with_the_binance_hack/

50

Crypto Discussion / Re: Binance Hack

« on: May 15, 2019, 06:06:37 PM »

   “If it's a phishing attack then how did the hackers bypass 2fa? How did they bypass IP address locking/validation? How did they bypass the withdrawal email confirmation? Seems more likely to me that Binance had a vulnerability they don't want to admit to, because it's easier to blame users if it was a "phishing attack" and looks better to the public if it's "not their fault". If it was really a phishing attack then why would they even cover the loss to begin with? It's users responsibility at that point. None of this adds up”

51

Crypto Discussion / Re: Views about binance exchange getting hacked

« on: May 15, 2019, 06:05:53 PM »

   “If it's a phishing attack then how did the hackers bypass 2fa? How did they bypass IP address locking/validation? How did they bypass the withdrawal email confirmation? Seems more likely to me that Binance had a vulnerability they don't want to admit to, because it's easier to blame users if it was a "phishing attack" and looks better to the public if it's "not their fault". If it was really a phishing attack then why would they even cover the loss to begin with? It's users responsibility at that point. None of this adds up”

52

Crypto Discussion / Re: BNB to the Moon or not?

« on: May 14, 2019, 04:25:37 PM »

The price of binance coin has rose from $18 to $24 in such a short span of time and  suddenly just after binance getting hacked.. Is this a pre game plan? Did the exchange really get hacked or is this an insider’s game?

53

Crypto Discussion / Views about binance exchange getting hacked

« on: May 14, 2019, 04:24:23 PM »

Binance suffered what it’s calling a “large scale security breach” yesterday evening. The hackers were able to transfer 7,000 Bitcoin $BTC▼1.22% (over $40 million at the time of writing) in one transaction from the company’s hot wallet.

In an announcement last night, Binance‘s CEO Changpeng Zhao said that hackers were able to obtain user API keys, two-factor authentication (2FA), and potentially other info – it has not disclosed what, though.

Binance claims the attackers used a range of techniques including phishing and malware to carry out the hack. The attack managed to circumvent Binance‘s security checks, but after noticing the strange activity, the exchange blocked all withdrawals.
At this point, Binance also doesn’t know how many accounts have been affected.
Being the most secured and world's largest crypto exchange, people are questioning that how can Binance afford to go through a security breach?
It is been considered as nightmare for the traders on the exchange
Security and privacy are the two most crucial factors that create the base for any crypto currency exchange
The announcement also says that Binance will use its SAFU (Secure Asset Fund for Users) emergency insurance fund, to reimburse accounts affected by this breach. Is that really going to happen?

Withdrawals will continue to be blocked for the next seven days while Binance carries out a security check

54

Crypto Discussion / The World's Most Secured Exchange gets hacked, A new side to the hack

« on: May 13, 2019, 05:04:05 PM »

Binance is lying outright or by omission. Not ONE person has come out and demonstrated their account was one of the ones that was compromised. The hacker would have had to bypass email authentication, sign in, two-factor authentication, and API keys for enough accounts to get 7,000 bitcoin. There are no unusual trades during this period which would allow a hacker to trade bitcoin out of user wallets into their own within the exchange in order to bypass 2FA/email withdraws on some accounts. If it was really the case thousands of accounts were compromised at least one person would have come out publicly about their account. The way I see it there are three options.

this hack didn’t happen and its an excuse to lock withdraws

it was an inside job from Binance staff member(s)

the entire exchange has fatal bugs in the base code that were exploited.

It is highly suspicious that Binance initially claimed they were doing emergency maintenance, then admitted to being hacked and that they would recoup all losses out of pocket without taking the time to investigate this hack AT ALL. Why would they recoup losses out of pocket if it was the users fault? It is absolutely not a sustainable business practice and it is rife for abuse. Not to mention, the timing of this all occurring as Tether and Bitfinex are being indicted by the NY AG and a bank run is occurring on the Bitfinex exchange. Tether was shown to only be ~75% backed. Remember, Binance is/was the largest holder of tether, and just a day or two before the “hack” they moved ~740M through thousands of accounts/transactions. Now the Binance Tether coldwallet has only ~600M tether. Where did the other 140M go? The move was structured like a blend. Also, anecdotally, I am notcing a severe uptick in Binance astroturfing.
Source: https://www.reddit.com/r/CryptoCurrency/comments/bmou61/connecting_the_dots_with_the_binance_hack/

55

Crypto Discussion / Re: The No.1 exchange Binance got hacked. Are we safe? Can hackers be stoped?

« on: May 13, 2019, 05:02:29 PM »

Binance KYC policy shows that above the withdrawal of 100 btc verification needs to be submitted and further more contact them..
This states what? Did Binance approve the withdrawal and not know about such a thing ? Gets me suspicious