Quote from: ricardobs on May 13, 2019, 05:31:26 AM

Quote from: GospelCrypto2 on May 10, 2019, 10:36:11 PM

2019 is yet to experience a massive bull run, however, but it's already beginning to look like the year of the hacks for the crypto community. Hackers have proven to be no respecter of exchange size and reputation with the latest attack on the binance exchange.
Before the hack on binance which saw the hackers taking off with crypto worth 40 million dollars, the crypto community has previously experienced hacks on coinbene and cryptopia exchange with both parties refusing to state the level of damage and value of crypto assets stolen by the hackers.
The question every crypto enthusiasts should be thinking now is that if hackers can still penetrate almighty binance with all their claims of having the best cybersecurity measures, is any other centralized exchange safe? What if the binance team didn't have SAFU funds to cater for situations what would have been the fate of affected traders on the binance platform?.
While I leave the floor open for comments and suggestions regarding the subject matter, I would like to quickly chip in that this is a wake-up call for crypto enthusiasts and developers alike. The growing prominence of blockchain technology and crypto will make it a threat to more attacks in the future, and if measures aren't put in place, this hackers may cause irreversible mayhem to the crypto community in the nearest future. A switch to decentralized exchange with support for multiple blockchains is the best option on my mind right now.
Feel free to share your thoughts and opinions on the topic.

Hackers haven't been sleeping lately, they have been trying every means possible to make sure they hack as many exchanges as possible in order to take their coin for themselves, this is why exchanges currently need to upgrade on their security because we might see even more hacks before the year runs out since the price of bitcoin is now becoming so valuable within a short period of time, I think this exchanges should employ white hackers that would help protect their exchange from possible hack.

I still want to believe that they have not gotten security experts to handle this matter, these are hackers are trained and so as well as security experts are trained to counter them, I have never seen a situation where the bad ones completely overcome the good ones.

Exchanges just need to do more by stepping out of their boundaries in getting well trained security experts that would block all the loop holes that hacker can use in stealing funds from exchanges. If a fund is lost as a result of carelessness either through weak password, it is still understandable, but hacking a whole system is not supposed to be for a very big exchange.