WARNING: Dont Keep Large Amount Of Cryptos On Exchanges, $400 Million Was Just Stolen From Crypto Exchange
Ok, I might have found out why cryptos fell during the night. Apparently there has been a major hack on the Japanese crypto exchange Coincheck. A staggering $400 Million has been reported stolen and everything seems to have been stolen from from NEM, the 10th largest cryptocurrency in terms of market cap. Here is what happened to NEM during the night:
It looks like NEM has recovered a bit, it was down 20% on Coincheck at one time. This chart Im showing is from Poloniex.
Anyways, the lesson to be learned from this is that you should never keep any large amount of any crypto on any exchange any longer than necessary.
Use hard wallets or paper wallets, those are the safest options as of now.
Source:
Is this a bad sign for crypto @freeforever?
Use hard wallets or paper wallets, those are the safest options as of now, how about investment??
It might scare off some people, but we do have some great projects coming up such as Pillar where you dont have to do your move your cryptos manually from your wallet to the exchange and then back. Instead, you can do all this from your wallet. I also heard that Ledger Nano does have this option now.
So, things will improve, but hopefully people will wake up and realize that security is extremely important.
What do you mean by investment?
Thanks for the warning - certainly a reason to be careful
This is great information, thank you.
its so sad, am saddened by the new i hope people will recover their money soon.
Can the exchanges with 2FA be hacked ?
Crazy. I wonder if that 400 million will ever turn up? It could be washed through hundreds of accounts by now