Re: BTER.com hacked - 7170 BTC stolen [DON'T KEEP YOUR MONEY ON AN EXCHANGE]

Despite all the added security and what not this still happens, at exchanges that hold large amounts of money in both fiat and BTC. It's kind of disappointing. What's the point of having a cryptocurrency when this happens over and over again?

Also, it's a bad name in the press as the public will be even more scared of using/accepting bitcoins as payment.

You are right just because of these mistakes many exchanges lost big amounts and faith of many peoples now some are thinking to leave this crypto world

This is a really bad situation, I've updated the OP with two reddit discussions :

- http://www.reddit.com/r/Bitcoin/comments/2vz1zq/its_now_officialbtercom_was_hackedlost_7170_btc/
- http://www.reddit.com/r/Bitcoin/comments/2w00yo/three_exchanges_hacked_in_24_hours/

Exchanges are needed to retain value and so we can bind the worth of a Bitcoin to something we know. The thing is I am considering moving all my coins from exchanges to my wallet. Although, with respect to the recent events I'm not sure if that is any more safer. Maybe only due to the "decentralizedness" of keeping my coins with me and not thousands of coins in one place.

It's just sad to watch exchanges go down every now and then.

Seems to me it is easier to rob 1.6 million $ of BTC than 1.6 million $ of fiat. And get away with it.

Exchanges shouldn't be used as traditional banks.

https://bitcointalk.org/index.php?topic=932052.0
https://bitcointalk.org/index.php?topic=945881.0