News is coming out of Japan that $520 Million USD worth of the cryptocurrency NEM was stolen from the exchange Coincheck. There were also large movements of Ripple out of the exchange but it seems like it is a precautionary move. Withdraws have been suspended
https://news.bitcoin.com/coincheck-halts-operations-amidst-hacking-rumors-after-723-million-withdrawn/
https://cointelegraph.com/news/japan-coincheck-exchange-freezes-all-withdrawals-as-up-to-723-mln-leaves-its-wallet
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Bloomburg reporter Yuji Nakamura:
Main takeaways from Coincheck press conf:
- only NEM impacted
- plans to continue operating, restart trading
- not clear on plan to repay customers
- no multisig💀
- wouldn’t admit security was weak
- not sure how hacked, if domestic or foreign hackers
- CEO barely spoke
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It's hard for me to believe that after all the exchange thefts we've seen in the past several years, that someone would still keep that much crypto in a hot wallet.
It's almost seems like these guys were begging the "hackers" to come and steal their users' funds.
“ Never trust a centralized exchange “
I am planning to move all my money under my mattress :D
Do you trust your home beloved pets ?
Good point! I am suspicious of him now :D
Never trust an exchange. Bittrex disabled my account and despite verifying and doing all the steps told after 3 months Im still waiting for them to enable my account access.
I think Bittrex is going through liquidity issues perhaps got hacked or loss heavily in trading so to maintain liquidity they are disabling random accounts to prevent getting busted.
I recommend to take your money out of exchanges specially bittrex and keep it in your own wallets.
I learnt the hard way!
I am a subscriber of your youtube channel. I think your content is excellent. Especially that Charles Hoskinson 3 hr interview was amazing. I can literally see you sweating :)
Nice !
Litecoin - USD daily chart with a Stoch/RSI crossover: https://steemit.com/cryptocurrency/@tradingroom/litecoin-usd-daily-chart-with-a-stoch-rsi-crossover
oh my God, it is huge amount .
I really expected a significant dip after the hack. Well...
btw: here are some airdrops for you guys!
If they listened to you they will not lose that much, hehehe ;)
Wow, just wow. Big Hack.
Disclaimer: I am just a bot trying to be helpful.
Only 530 million dollars? that's nothing. Yeah for sure...
Thats very sad. They are supposed to have enough security. People are investing money there and trusting them. First Bitconnect and now this :(
Sad man. Just shows that you should NEVER keep your crypto on an exchange. Its literally a gimme and an easy hack for almost all hackers, even for people who have 2FA. Even the most popular exchange, Coinbase might get hacked and people will still insist to have their crypto sit on the exchange lol. Keep your crypto on an offline wallet like Ledger Nano S so that you don't have to worry about news like this!
Ripple is central (like PayPal), so these funds can be blocked and 100% reimbursed
NEM is a currency based on accounts, so distribution will be very limited.
Probably NEM will have a fora.
With 600 million losses, there will be confusion and zero losses.
Unnecessary copper noise ...
I think they we are going to hear a lot of this sort of things while cryptos are still in their early stages of development. After they've been battle tested over the years the ones remaining will be pretty solid.
This is not the first example.. and sadly there will be more... Store your long term coins in a hardware wallet OFFLINE folks. Storing on ANY exchange (unless using them currently) is stupid, and reckless. Please learn from this, and keep yourselves safe!
one the more honest guys talking about crypto these days!
Crazy they are going to refund every ones coins. Good on them.