Quote from: TravelMug on May 07, 2022, 03:43:29 AM

Quote from: S3300 on May 01, 2022, 07:39:13 AM

The perfect theft in crypto is claiming that a project or an exchange is hacked when its all an inside job, the reason why I think about this is I have never heard about other top exchanges helping a exchange that just got hacked to track their funds and get some back at least but if it's a sole hacker from outside they will track him or them down, why is that?.

I somewhat agree to some extend, this is what we call inside job. If my memory serves me right, it was very rampant in 2018, wherein there will be new exchanges so traders flock into them then suddenly they will report a hack, closing the exchange for good with all the money and funds from traders and you don't know if this is a real hack or not. That's why even in 2022, it's better not to trust new exchanges in the beginning and just trade on those who have built their reputation already.

As this market is becoming more regulated and traders are becoming more sophisticated the rate at which those supposed hacks happened seems to be going down, however even if it s more uncommon it does not mean that it will not keep happening, this is something that especially worries me when it comes to decentralized exchanges as it is still a relatively new technology which can have some hidden bugs, which can be taken advantage by hackers outside and inside the exchange.