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Board Beginners & Help
Re: Can someone explain how exchanges operate?
by
cryptjh
on 20/05/2019, 22:31:07 UTC

1) Why are they making such disclosures? Wouldn't they make it easier for hackers to get to them? For example, just for the sake of argument (know it's a bad argument because of math, large numbers, publicly visible to begin with but just put that aside) - if you provide the address hackers can begin trying to brute force it. But if you don't disclose it, a hacker would not even know where to start. It's like a robbery victim pointing hackers where to attack next.

Think the question here is: why are they comfortable with hackers knowing such information.


If there was a major hack on binance BNB tokens, I think Binance would end up making a hardfork, making the hacked tokens worthless.

I like the transparent way binance have so no one panic when they see major holding of Bitcoins going out from binances wallets. 

All transactions are open for everyone to see on the blockchain, so hackers can find them just as easy as everyone else, but hacking a wallet are near impossible and finding what address belongs to what wallet are even more impossible.