Quote from: God bless u on Today at 01:41:39 PM

Quote from: SAHASAN on June 02, 2024, 10:33:01 AM

4,502.9 BTC ($305 million) was stolen from the Japan exchange

https://www.coindesk.com/business/2024/05/31/japanese-crypto-exchange-dmm-bitcoin-suffers-305m-hack/

If this news is legit and the exchange was hacked really that it would have impacted the BTC price. Ive heard that it happened almost three days before and since then we can't see the fluctuations in BTC price that should be expected after this type of incidence.

It can happen some days later when the hackers will manipulate using the stolen BTc. Let's wait and watch but this questions the security of big exchanges.

As you also said , many days have passed and we still have not had any significant correction from bitcoin, which shows that during the bull season , news like this does not make people too scared and people don't care either .

Even banks and government websites can be hacked at any time , so you cannot expect centralized exchanges to be absolutely perfect . You should also not compare and assume that storing on personal wallets is safer than storing on exchanges. That's not wrong, but you need to understand that no hacker will take the time to attack your bitcoin wallet while your assets are very small. Meanwhile , centralized exchanges are always the top target of hackers because they hold a huge amount of money. What matters is whether they will be responsible to their users or whether they will deny responsibility. (I'm just giving reasons why exchanges are more vulnerable to attacks than personal wallets, Im not encouraging or advising anyone to store bitcoins on centralized exchanges.)

And according to the latest news, they are raising capital to buy bitcoin to compensate the victims.

https://www.coindesk.com/business/2024/06/05/crypto-exchange-dmm-bitcoin-to-raise-320m-to-pay-back-hack-victims/