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Author Topic: New bullrun - new hacks and victims  (Read 3131 times)

Offline owlest

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Re: New bullrun - new hacks and victims
« Reply #15 on: May 07, 2021, 06:58:39 AM »
I hope this is not an exit scam, as Hotbit is a huge crypto market exchange and its scandal could make a big FUD for the whole market.
At the moment, we still do not have an effective solution to jointly protect users' assets in exchanges, everything depends on qualifications of  exchange blockchain engineers. Hope in the future more efficient protocols will be applied to increase safety of exchanges.
Hope your crypto assets are still safe.
The exchange can be said to be one of the most vulnerable chains in the entire cryptocurrency space. I have no idea what can be done to make exchanges even more secure.
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Re: New bullrun - new hacks and victims
« Reply #15 on: May 07, 2021, 06:58:39 AM »

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Re: New bullrun - new hacks and victims
« Reply #16 on: May 07, 2021, 10:19:05 AM »
At the moment, the exchange is still working to restore everything as it was. I don't think it is exit scam.
I want to believe that in a couple of days the exchange will work as before.

Who cares what and how is restored then follow this Twitter account @Hotbit_news

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Re: New bullrun - new hacks and victims
« Reply #17 on: May 07, 2021, 02:48:45 PM »
Exit scam?. Hotbit has a very good reputation in the world of cryptocurrencies. It has some functions that other exchanges do not have, but the problem once again is the same as always, security. It seems that another of the exchanges that makes so much money has not allocated a good budget to security, which is the most important thing. I don't think it's an exit scam.
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Re: New bullrun - new hacks and victims
« Reply #18 on: May 09, 2021, 07:57:22 AM »
Exit scam?. Hotbit has a very good reputation in the world of cryptocurrencies. It has some functions that other exchanges do not have, but the problem once again is the same as always, security. It seems that another of the exchanges that makes so much money has not allocated a good budget to security, which is the most important thing. I don't think it's an exit scam.
Personally, I can't believe this is going to be a exit scam. The exchange is not at the level to just leave its users. Rather, it's a run-of-the-mill hack. Be that as it may, after a while we will find out everything.
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Re: New bullrun - new hacks and victims
« Reply #19 on: May 09, 2021, 10:53:48 AM »
Personally, I can't believe this is going to be a exit scam. The exchange is not at the level to just leave its users. Rather, it's a run-of-the-mill hack. Be that as it may, after a while we will find out everything.

Hotbit may have suffered an attack like any exchange can suffer almost every day, it all depends on the severity of the attack and which parts of the platform it affects. If the alarms have been triggered in time, nothing too serious will happen, so they need time to analyze the logs (which must be thousands) and perform a full security audit. Now they need time and we need patience.
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Offline Mas Bro

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Re: New bullrun - new hacks and victims
« Reply #20 on: May 09, 2021, 01:23:06 PM »
The higher the popularity of something, the more attention it gets. Cryptocurrency is getting popular and a lot of money is invested into cryptocurrency, this will lead to more activity of various types of hackers and fraud. Because hackers will always be interested in places where a lot of capital is big, namely cryptocurrency exchanges. Because all cryptocurrency exchanges are not that safe from being hacked, especially on the CEX side.
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Offline owlest

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Re: New bullrun - new hacks and victims
« Reply #21 on: May 10, 2021, 03:32:41 PM »
Personally, I can't believe this is going to be a exit scam. The exchange is not at the level to just leave its users. Rather, it's a run-of-the-mill hack. Be that as it may, after a while we will find out everything.

Hotbit may have suffered an attack like any exchange can suffer almost every day, it all depends on the severity of the attack and which parts of the platform it affects. If the alarms have been triggered in time, nothing too serious will happen, so they need time to analyze the logs (which must be thousands) and perform a full security audit. Now they need time and we need patience.
Now many people are worried about their savings, and so there is a fuss about this event. Yes, the owners of the exchange will not immediately sort out the problems, but there is no need to jump to conclusions that we see.
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Re: New bullrun - new hacks and victims
« Reply #21 on: May 10, 2021, 03:32:41 PM »


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Re: New bullrun - new hacks and victims
« Reply #22 on: May 10, 2021, 04:37:03 PM »
Well I don't know if they trying to scam us because we really don't know what is really happening their exchange maybe the hack incident could be true or maybe just an exit scam. Well only time will tell if the hotbit is going back operation then it's a good news but if not then let's move on.

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Re: New bullrun - new hacks and victims
« Reply #23 on: May 10, 2021, 04:47:48 PM »
Now many people are worried about their savings, and so there is a fuss about this event. Yes, the owners of the exchange will not immediately sort out the problems, but there is no need to jump to conclusions that we see.

That is always a great incentive for attackers, the large amount of funds that are in the exchanges, and those responsible are largely the users. I do not blame the users, I say that they should not leave their funds in any exchange precisely for these things, if the exchange doesn't have good insurance to cover the losses, the lawsuits can be endless.
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Re: New bullrun - new hacks and victims
« Reply #24 on: May 11, 2021, 08:42:25 AM »
Now many people are worried about their savings, and so there is a fuss about this event. Yes, the owners of the exchange will not immediately sort out the problems, but there is no need to jump to conclusions that we see.

That is always a great incentive for attackers, the large amount of funds that are in the exchanges, and those responsible are largely the users. I do not blame the users, I say that they should not leave their funds in any exchange precisely for these things, if the exchange doesn't have good insurance to cover the losses, the lawsuits can be endless.
So we do not know how well the exchange is protected from hacking. They do not disclose this information to us, but they assure us that all this is at a high level. In addition, what about trading, because large funds can be in orders.
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Re: New bullrun - new hacks and victims
« Reply #25 on: May 11, 2021, 10:45:16 AM »
So we do not know how well the exchange is protected from hacking. They do not disclose this information to us, but they assure us that all this is at a high level. In addition, what about trading, because large funds can be in orders.

About trading and the amount of funds for buy and sell orders is something that can be done in several ways. I do not leave orders for days, I place those orders when I am certain that a certain price will be reached and so I do not have to keep it in the exchange for too many hours, it is not comfortable, but it is safer. Leaving buy or sell orders for weeks or months has never seemed like a good idea to me, during that time anything can happen.
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Re: New bullrun - new hacks and victims
« Reply #26 on: May 13, 2021, 08:22:40 AM »
So we do not know how well the exchange is protected from hacking. They do not disclose this information to us, but they assure us that all this is at a high level. In addition, what about trading, because large funds can be in orders.

About trading and the amount of funds for buy and sell orders is something that can be done in several ways. I do not leave orders for days, I place those orders when I am certain that a certain price will be reached and so I do not have to keep it in the exchange for too many hours, it is not comfortable, but it is safer. Leaving buy or sell orders for weeks or months has never seemed like a good idea to me, during that time anything can happen.
This is a good method, but not everyone has time to constantly monitor the price. After all, orders are made in order to give the trader maximum freedom. And the most important question: when you send funds from your wallet to the exchange, you lose due to commissions. How do you put up with this? And if this is an etherium token, then you can generally lose a lot.
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Re: New bullrun - new hacks and victims
« Reply #27 on: May 13, 2021, 12:18:52 PM »
This is a good method, but not everyone has time to constantly monitor the price. After all, orders are made in order to give the trader maximum freedom. And the most important question: when you send funds from your wallet to the exchange, you lose due to commissions. How do you put up with this? And if this is an etherium token, then you can generally lose a lot.

I am aware that not everyone has time to monitor prices, so I said that it is not comfortable, but for that there are alarms in Blockfolio (and other applications) for example, so as not to have to be constantly looking. I try to use Ethereum as little as possible, even before the problem of high transaction fees, that is why for me it is not a problem since my funds are almost entirely in other chains. The chains that I use the most are BSC and Tron, in both the commissions are very cheap.
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Re: New bullrun - new hacks and victims
« Reply #28 on: May 14, 2021, 04:48:09 AM »
Since 2018, I have never used HotBit Exchange again because such Exchange is only for selling Airdrop and Bounty tokens or gifts from various influencers on social media.
I also see at a glance that HotBit often gives statements from its main social media such as Telegram, that HotBit is being maintained. Perhaps it is better to avoid this kind of Exchange as it is very dangerous.
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Offline gabbie2010

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Re: New bullrun - new hacks and victims
« Reply #29 on: May 14, 2021, 08:04:26 AM »
The higher the popularity of something, the more attention it gets. Cryptocurrency is getting popular and a lot of money is invested into cryptocurrency, this will lead to more activity of various types of hackers and fraud. Because hackers will always be interested in places where a lot of capital is big, namely cryptocurrency exchanges. Because all cryptocurrency exchanges are not that safe from being hacked, especially on the CEX side.
There is a growing sophistication in hacking thus cryptocurrencies exchanges has to live up to expectation in securing their firewalls with the latest technology, with latest development as regards hacking of hotbit exchange, I believed their strong secured firewall must prevented the hackers in gaining access to it, this is a wake up call to all cri users to always use reputable and secured exchanges.

 

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