Post
Topic
Board Service Discussion (Altcoins)
Re: If an exchange gets hacked
by
Mrcharles
on 09/08/2018, 16:43:17 UTC
I was just wondering about something. From time to time we see exchanges get hacked, with a big loss of Bitcoins for the customers as a result. However, I was wondering if the other coins and tokens you are invested in disappears as well? Let's say Ripple, Zcash, Monero etc.

It depends on the exchange vault, most exchange has different vaults with various degrees of security. I believe that the amount which are needed for daily maintenance of liquidity could be differentiated from the funds which are expected to be stored for longer periods of time. Also, it's possible that the exchange have different vaults for different cryptocurrency. In a situation where there is some level of compromise on the vaults, it may be clumsy to report the various cryptocurrency individually, so the exchange reports the dollar equivalent or the bitcoin equivalent of the lost funds. Hence, giving the public an idea of the extent of loss suffered as a result of the compromise.