XT.com, a medium-sized cryptocurrency exchange doing business for years and is based in Seychelles based on registration but its operating headquarters is located in Dubai and operation centers in Singapore, Seoul and other countries and regions.
No matter how small the amount of assets stolen from the exchange, it is still not a good development, it may send a wrong signal to both new and existing users at this current bull run.Exchange breaches is nothing new, it will only send a wrong signal to people who know absolutely nothing about crypto. Exchanges are centralized platforms, they do not represent the general crypto ecosystem, funds should be stored in self custody and not in an exchange to begin with.
Now, in 2025 am expecting more and more successful hacks as these evil people can now be accelerating their movements and enterprises using the best technologies available to be ahead of the security measures adopted by exchanges.more hacking/scamming attempts? yes but will they be successful ones? hopefully not
It's good that there are no funds being affected from their customers, and the money that was stolen is not that huge.Yeah, i don't use this exchange, so i don't know if they suspended withdrawal or not. If the stolen funds all belong to the exchange and it is an amount they can recover from, then that is fine. It is also a warning for users who use the exchange as a wallet, to move their funds into their self custodial wallet.
In any case, this hackers have perfected their craft already and so we really don't know why exchanges still lacks better security. It's already 2024 and they should have learn from past hacks.It has been happening for a very long time now, and i doubt that exchange hacks will stop being a thing.
Just another hack and the latest victim is XT.com, a medium-sized cryptocurrency exchange doing business for years and is based in Seychelles based on registration but its operating headquarters is located in Dubai and operation centers in Singapore, Seoul and other countries and regions.I used to use XT CEX to trade a few ALTs during the bullrun 2021 but haven't used it frequently lately. I only have a few low-cap tokens left in my account there. I hope I can still withdraw my funds after taking profits in the bullrun 2025, and that XT will quickly improve its security situation to protect users.
It's good that there are no funds being affected from their customers, and the money that was stolen is not that huge.Yeah, i don't use this exchange, so i don't know if they suspended withdrawal or not. If the stolen funds all belong to the exchange and it is an amount they can recover from, then that is fine. It is also a warning for users who use the exchange as a wallet, to move their funds into their self custodial wallet.In any case, this hackers have perfected their craft already and so we really don't know why exchanges still lacks better security. It's already 2024 and they should have learn from past hacks.It has been happening for a very long time now, and i doubt that exchange hacks will stop being a thing.
This didn't made that much noise. I didn't read this on the other forum and with that, only this thread which we're I've known it did happened. I'm scared of these exchange hacks and if it becomes more, that might be the sign that we're nearing to the end of this bull run but I hope that it won't be.
---Incidents like these ones are inevitable and it's true because year after year, we are seeing exchanges being hacked here and there.
Affected assets can be worth at least $1.7 million (https://cryptoslate.com/xt-exchange-assures-users-after-1-7-million-asset-theft-disrupts-services/)but XT officially stated that no users are affected as the assets in question belong to the exchange itself...and if true this can be good news for its many small users.
Now, in 2025 am expecting more and more successful hacks as these evil people can now be accelerating their movements and enterprises using the best technologies available to be ahead of the security measures adopted by exchanges.
I thought that we would be ending up this year with having no exchange hack news but this one did really end up happening. Good thing that it is really just that a million but knowing XT then this isnt really that too big but still a hack is a hack, Good thing that XT did cover up the loses and didnt affect any small traders out there on which it is really that good news.---Incidents like these ones are inevitable and it's true because year after year, we are seeing exchanges being hacked here and there.
Affected assets can be worth at least $1.7 million (https://cryptoslate.com/xt-exchange-assures-users-after-1-7-million-asset-theft-disrupts-services/)but XT officially stated that no users are affected as the assets in question belong to the exchange itself...and if true this can be good news for its many small users.
Now, in 2025 am expecting more and more successful hacks as these evil people can now be accelerating their movements and enterprises using the best technologies available to be ahead of the security measures adopted by exchanges.
What's good is that most of these exchanges that are experiencing a hack always say that the assets of their customers aren't affected... or is it? Hmmm. Like you, hacks along the exchanges will still happen because while there are some that MIGHT upgraded their security, the hackers will still find a way to breach their system. TBH, if I didn't saw this post, I will not know that such hacking incident happen yet again. It didn't gain any attention from media, eh?
Just another hack and the latest victim is XT.com, a medium-sized cryptocurrency exchange doing business for years and is based in Seychelles based on registration but its operating headquarters is located in Dubai and operation centers in Singapore, Seoul and other countries and regions.You are right Every bull run brings more and more hacks and scams because this is the time when people and even exchanges are making millions by leveraging and liquidating, respectively. Yesterday's dip made exchanges millions and now most of the money is on exchanges as well.