Quote from: EyeofthebeHODLer on July 25, 2018, 09:35:08 PM

Quote from: PandoraTV on July 25, 2018, 09:16:18 PM

Quote from: EyeofthebeHODLer on July 19, 2018, 09:07:18 PM

Quote from: PandoraTV on July 19, 2018, 08:25:10 PM

Quote from: 2012 on July 18, 2018, 01:02:22 PM

Quote from: alvena on July 18, 2018, 12:39:35 PM

By token bancor, nothing has disappeared, the very fact of hacking is of course very unpleasant, but I think the team will draw conclusions and will do everything possible so that such situations no longer repeat. Meanwhile, the price for Bancor is gradually beginning to recover.

Even this was mentioned before about some security holes and it could lead to a big lose if someone made hack attempting on this network. But they ignored this warning in past and didn't took this seriously and now after this incident they have their focus to make secure this network and fixing all bugs there. That is the reason price is start recovering I hope in future this will become secure network.

Nature learns through catastrophes, and so do humans. Even though if would have been obviously better to secure the network thinking in advance that something like that could happen, nevertheless it's OK to do it later as well, especially as major damage has been avoided.

Thanks for your understanding PandoraTV! Indeed, it is very much preferable to prevent incidents from happening in the first place. But as you so rightly point out, the important matter is that the team has learned from this breach and is working to prevent them from happening again. The fact that this is the first breach of any real significance in over a year of service, as well as over a billion USD processed is a great sign. But things can always be improved, and the team is very keenly aware of that fact. One good result of this breach (if we are to look for silver linings) is that it proved the security measure built into BNT to be useful, and has prompted a greater discussion in the community as a whole on the topic of security for exchanges as well as how much is too much. We look forward to what the future has in store, and the improvements that this will bring to the space in general.

I was unaware that over one billion USD has already been processed in the fisrt year of life of Bancor. That's impressive and very promising. Security issues are an inevitable price to pay when you are pioneering territories where nobody has actually been because they have been created by you.

You are exactly right. There is no way to possibly predict every pathway. Even with all the security audits that are completed, there may be a way in or something in a future update that can compromise the previous security. That is why the team put the security measures built into the token itself. That way when this breach occured, it was contained and quickly stopped (at least for the BNT). It's also why Bancor does not have access to any of the user wallets. That way this breach was limited to the breached wallet alone. We hope that others in the crypto space will look to these examples and see how effective it was in mitigating the threat.

Safety in the crypto age is so vastly critical, that it needs everybody to work together. It was heartening to see the many other exchanges come together to help freeze flagged funds from the incident in the hours following the breach.

Ultimately the crypto world is all just about safety. Safety against the dangers of centralized creation of FIAT money, safety against entities able to get control over your assets. Only the safest echosystem/asset will survive.

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