$41 Million Binance Heist Will Trigger Regulators, Warns Billionaire Bitcoin Bull


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Posted in Binance Reddit and tagged

9 Comments

  1. janbit0p0g on 12. July 2019 at 23:04

    Why a warning? These regulations would result in increased security and trustworthiness.

     


  2. CryptoKujira on 12. July 2019 at 23:04

    Some rich guy says something. Must be profound.

     


  3. windrip on 12. July 2019 at 23:04

    The reserve fund that Binance set up to cover these types of things was a very good idea. If regulations are introduced, it’s that all exchanges should be setting aside a percentage of profit to cover these types of situation. Essentially, the only entity that suffered here is Binance—not its users—since they had the reserve fund set up. That’s the way it should be, since a breach is ultimately the exchange’s responsibility.

     


  4. shmonero on 12. July 2019 at 23:04

    $41Million is nothing lmao

     


  5. Casartelli on 12. July 2019 at 23:04

    The stolen BTC are still being pumped through a lot of adresses.. Most currently sits here:

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    [https://www.blockchain.com/btc/address/3EaWcuNXQrW2JTGy5Cotm4pftovW8UfR2o](https://www.blockchain.com/btc/address/3EaWcuNXQrW2JTGy5Cotm4pftovW8UfR2o)

     


  6. chrischrischris1987 on 12. July 2019 at 23:04

    A $41 million loss really isn’t that big a deal. Especially if Binance actually come through and refund people their losses. If regulators did nothing in light of Coincheck, Mt. Gox and BitGrail, then this won’t motivate them either. Frankly I doubt they have the understanding or the powers required to regulate anything at this stage anyway.

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    Think about it. At this stage the story is this. Exchange gets hacked. Binances profits take a 10% haircut and no individuals lose any money.

     


  7. John_0101 on 12. July 2019 at 23:04

    It also shows the world that BTC can be rolled back. Go figure.

     


  8. ultimatefighting on 12. July 2019 at 23:04

    Can anyone log in yet?

     


  9. Occams_shaving_soap on 12. July 2019 at 23:04

    I don’t have a lot in Binance (in spite of being down about 75% on poor altcoin performance) but I’ve always experienced a lot of difficulty with constant password resets/login failures. They have an uphill climb to reestablish consumer confidence. I’m personally out.