So today I saw something that really surprised me. After the historical NEM (XEM) hack, which happened ot the 26. of January and was the biggest cryptocurrency theft of all time - the total amount of funds stolen was around 534 mln $. CoinCheck, the hacked exchange admits that the stolen coins were stored on a single-signature hot wallet with considerably low security. After the news broke I saw that decentralized exchange platforms - Bitshares, AirSwap, Kyber Network were all up over 10% this i a sign that the crypto market is getting more and more sophisticated. ( Decentralized exchanges can't be hacked, can't be banned, can't be manipulated. They are the logical replacement of centralized exchanges)
Full Refund From CoinCheck
The markets did react to the news as it was a reminder for Mt.Gox bancrupcy, however panic was pretty short-lived and things looked very good towards the end of the trading day. On 27.01 morning, CoinCheck issued a statement that they are going to issue a REFUND to all of the 260,000 affected accounts. Oh, another thing is that they are going to pay for it from their personal funds.
To be honest that is the last thing I expected ! A cryptocurrency exchange will pay for the hack themselves. Faith in Cryptocurrency exchanges restored. We should also consider that this is Japan and they highly value integrity and honour.
NEM Marks Stolen Coins
New Economy Movement (NEM) team declared that they will tag the stolen coins, so the exchanges can rocognize them and thus the thiefs won't be able to sell them ! This is pretty nice, it's like marked money that they use on the movies. Some next level thinking from NEM - NICE !
Please be careful out there! Crypto is a new field and scammers are everywhere. Keep your private keys and don't store your coins on one exchange only. Buy a hardware wallet, use paper wallets, 2FA and whatever else there is to secure your coins. Bookmark MEW and other frequently used websites.
Hi I read and upvoted your post I liked it. @pawdogs said you have good book recommendations for ta I was wondering if I could hear them
Thanks
Jordan
Thank you, Jordan ! I appreciate it. Of course I would like to share my recommendations with you. Can you please tell me what is your area of interest. I recommended "Reminiscences of a Stock Operator" - you can find it HERE I can surely say that this is the best book on Trading I have read. It is very practical, although it covers the markets from 1900-1930. But if you tell me more about what are your interests, I might be able to help you more
I want to learn how to identify and use indicators, or perhaps other tools I am not yet familiar with, to anticipate trends in the market. Basically I want enough knowledge to be able to build my own method. Preferably in forex.
Thank you
Jordan
Leave it to Japan to do the right thing and set an example for the rest of the world...though it's doubtful that if something like this happened in the states that they would do the same. You're right, Japan has integrity and honor, which sets them apart from a lot of other countries.
Yes, I don't think that if that happened elsewhere, the result would be the same. Classy act for sure :) Thank you for commenting :P
0
I am spending at least 4-5 Hours a day writing/curating/commenting/UPVOTING other people's work. I use bots for various reasons you would not understand. It is NOT TO CASH OUT SBD TO BITTREX.
All you do is LEASE Steem Power, so you can upvote yourself ! Your Upvote rate is 99%, my upvote rate is 7%. You are just stealing from this community, so you can sell your SBD's and give us all the finger.
START creating good content, put in the work and then you can compare my case with your case. You deserve my downvotes, you deserve much more than my downvotes. I am shocked that you have not upvoted your comment.
Good night.
Thank you @ervinneb for making a transfer to me for an upvote of 7.00% on this post! Half of your bid goes to @budgets which funds growth projects for Steem like our top 25 posts on Steem! The other half helps holders of Steem power earn about 60% APR on a delegation to me! For help, will you please visit https://jerrybanfield.com/contact/ because I check my discord server daily? To learn more about Steem, will you please use http://steem.guide/ because this URL forwards to my most recently updated complete Steem tutorial?
Very good
I respect the honesty of Coincheck. After that they should be more aware.
Coinbase event is the great warning lesson to the rest of exchangers also investors.
What is this coinbasr warning ?