Japanese cryptocurrency exchange Coincheck has confirmed it lost about $524 million after suffering a hack which stole 500 million NEM tokens, said to be the biggest cryptocurrency hack ever. NEM, the 10th-largest cryptocurrency by market value, fell 11% over a 24-hour period following the hack. The previous largest theft was pegged at $450 million in 2014 from a Tokyo-based exchange.
Shocking news huh? This will affect badly for the Crypto world. Are these hackers unstoppable ? I am worried all my coins are in exchanges, not in hardware wallets, Exchanges are really not safe, This news confirms it again.
I think most of these so called "hacks" are just inside jobs. I know it doesn't lessen the blow. This is obviously huge! I am guilty of leaving coins in exchanges as well, definitely making me rethink that.
Do you really think that leaving money on exchange aren't safe?! This makes me nervous right now, if one more news about exchange getting hack again i will pull out all my money on the exchanges that i have participated. How will you know if an exchange is really safe and secured?