Binance says more than $40 million in bitcoin stolen in ...

Reminder from previous bull markets

Usually, bull markets attract a lot of new investors - although speculators should be the right word here - and as usual, a lot of them are going to be crushed a way or another.
First, before putting a single dollar, euro or whatever in the market, you should read a lot to know exactly what you're looking for.
Are you here for the tech and/or the cypherpunk ethos ? Great, there's lot of resources out there (my links are cleaned but as always, do your due diligence) :
Now, you've read and you want to put some skin in the game. Several exchanges are acceptable, a lot of aren't, be careful and assume that none really are (know that I won't post any ref links) :
This was for centralized exchanges aka CEX. Talking about custodial, you'll need wallets to store your (bit)coins. Always try to use non-custodial wallets, which means wallets that give you your private keys. This way, if the software goes down, you can always retreive your money. Now, I won't link to all the existing wallets but will advise you to buy hardware wallets (trezor or ledger but there are others) or to create (on off-gap computers) paper wallets you're able to store safely (against all risks, not only robbery but housefire). You also could use your memory with brain wallets but, my gosh, I wouldn't trust myself. For Bitcoin (or even Litecoin), Electrum software can do a good job (but save your keys).
AGAIN, DON'T KEEP YOUR SAVINGS ON AN EXCHANGE
Now, about trading : it's been repeated and repeated but don't chase pumps and altcoins. Yep, it's probably the fastest way to make money. It's also the fastest to lose it. I won't lie : I made good money during the 2017-bullrun and I took profits but I also forgot to sell some shitcoins thinking it would keep going up, now I'm still holding these bags (although I don't really care). I know that a lot forgot to take profits. Take profits, always take profits, whatever your strategy is. Don't fall for people trying to sell you their bags, for ICOs trying to sell you a product which isn't released yet and obviously, don't fall for people asking for your private key.
Also, know that there's two endgames : accumulating bitcoin or fiat. I'm rather in the first team but whatever your strategy is, take profits. (Yes, I know, some will say accumulating ethereum or something else). It's true that a lot of ethereum holders made a lot of money during the last bullrun (ethereum helped me make money too) but I'm really biased in favor of bitcoin (and monero). So, pick your coin but again, do your due diligence.
A lot of people here or there will talk about the best tech, the fact that bitcoin is old and slow. I would need another post to go further on this point but know that a lof of air flight systems are old too but reliable. Trustless and reliable is the point here.
This is the post from someone who bought bitcoin seven or six years ago, who lost part of them, who spent part of them (but don't regret this at all), who is still learning and I hope it will help others, although it would need a book to be complete.
submitted by EmmanuelBlockchain to CryptoCurrency [link] [comments]

Coinbase Support Number {۩ +1.855~3.38~3.716 ☏ Coinbase Pro ♋

Coinbase Customer Service ☎️+(1855-338-3716) Number TOLL-FREE USa
Coinbase for the most part alluded to as a cryptographic money, a virtual money, or possibly an electronic money - is a sort of money that is virtual. It's like an online variation of money. You can utilize it to buy administrations and items, however not many stores acknowledge Bitcoin yet, and a few nations have restricted it completely. How does Binance convey the outcomes? Every Binance it's generally a PC record that is kept in a' computerized wallet' application with a cell phone or maybe PC.
People can convey Binance (or perhaps part of one) in your computerized wallet, and furthermore you can send Binances to others.
Each exchange is caught in an open rundown known as the blockchain.
It is then simple to follow the account of Binances to keep individuals from spending coins they don't wear, making duplicates, or possibly fix in exchanges.
In what capacity can individuals get Binances ?
You will discover three essential ways people get Binances.
You can buy Binances utilizing' genuine' money.
You can offer things and let individuals pay out with Binances.
Or on the other hand they could be made utilizing a PC.
Exactly how are new Binances made?
For your Binances telephone framework to work, individuals can make their PC procedure exchanges for everyone.
PC frameworks exist, working out muddled totals. In some cases they're remunerated with a Binances as a result of the proprietor to hold.
A great many people make amazing PCs basically to attempt to get Binances. This' known as mining.
In any case, the totals are beginning to be more and harder to stop such a large number of Binances being created.
In the event that you started mining now, it might be numerous prior years you got one Binances.
You may end up spending more cash on electrical force for your PC or PC than the Binances will be justified, despite all the trouble.
For what reason are Binances valuable?
There are a lot of things other than money, which we consider significant, similar to precious stones and gold. The Aztecs utilized cocoa beans as cash!
Binances are helpful in light of the fact that people are slanted to trade them for real administrations and merchandise, and even cash.
Would it be able to be sound?
Every exchange is recorded openly, so it is difficult to duplicate Binances, make counterfeit ones, or even spend individuals you don't wear.
It's conceivable to lose the Binances wallet of yours or erase the Binances of yours and lose them uncertainly. There additionally have been robberies from locales that permit you to keep your Binances remotely.
Binance is an electronic money that can be utilized and conveyed electronically.
Binance is a decentralized shared system. No single individual or foundation controls it.
Binance s can't be printed, in addition to their sum is particularly insignificant - just twenty-one mln Binance might be delivered.
Why Binance?
Binance empowers you to buy stock namelessly. Furthermore, global installments are modest and simple since Binance s aren't attached to any subject or nation to guideline. Private ventures may like them since you will discover no Visa charges. A few people buy Binances being a venture, trusting that they will move in esteem.
Electronic agitators will have the crowd imagine that Binance will topple fiat money. Progressively reasonable people trust Binance is an oversight safe, unknown electronic money that is without seizure. Each is erroneous.
Binance isn't unknown; it's close to home and contains an open, permanent record. It takes into consideration security as simply the standard location is open, however this specific suggests that activity on the location is examinable to prevent criminal behavior.
Precisely for what reason is Binance a Viable Medium of Exchange?
The hidden blockchain mechanical development is made to support the trustworthiness of exchanges and information. The blockchain everlastingly records affirmed exchanges through a method alluded to as mining. Each arrangement is carefully marked and furthermore confirmed through cryptographic procedures that ensure the cash can't be contributed considerably more than one time.
The budgetary interests of the excavator keep away from twofold spending. Diggers wo exclude twofold spent exchanges for the most part in light of the fact that there is a danger that few different excavators will dismiss the square of theirs; consequently, they shed out on conceivable profit. Twofold spending is a criminal offense, and people won't get away from a changeless evidence trail of the endeavored robbery.
submitted by jipab29499 to u/jipab29499 [link] [comments]

Crypto market decline — Problem or Opportunity?

Crypto market decline — Problem or Opportunity?

https://preview.redd.it/bn0960dil8r31.jpg?width=1600&format=pjpg&auto=webp&s=8d9e0e26d0c06b2c8db1b42765d87535ec93fb68
In the past 3 months, Bitcoin lost around 40% of its value. A pretty annoying fact for the holders, however, for those out of the market, such period can become a comfortable entry point.
Bitcoin has existed for 10+ years, still, it is a challenge to buy it with a debit/credit card. The main problem is extremely high fees (can be as high as 20%!).
In this article, we have collected and compared several popular services that allow you to buy crypto with a bank card.

“Unbridging the gap”

Sadly, some of these services try to take advantage of inexperienced users and charge sky-high fees. Behind neat interfaces and straightforward user flows lie extremely unfair exchange rates. You can lose as much as 12–18%.
The brightest representatives of such services are Changelly and Indacoin. Please be careful! Always check exchange rates before making a transaction.
https://preview.redd.it/tbssx9stl8r31.png?width=1183&format=png&auto=webp&s=9c226cc9ca72d5a9b59ba95445d2f2ce3cf291d6

Crypto industry still in “infancy” stage

Another way to buy Bitcoin with a bank card is to set up a crypto wallet or a crypto exchange account. Fees here are lower but can be significant too. Still, the majority of wallets and exchanges do not offer this feature.

https://preview.redd.it/vrccxqv2m8r31.png?width=1000&format=png&auto=webp&s=384c76463b01a563e747576c739da2d792fc7d40
An additional inconvenience is that most of these services have a minimum fee. Meaning that you will pay a much higher percentage on small deposits.
For example, if you deposit 50 EUR on Binance, you will pay a minimum fee of 10 EUR, which is 20% of your deposit. To surpass a minimum threshold, you have to deposit more than 286 EUR, which is not always a sum you’re willing to spend.

Our solution

Good news! All these problems are solved on the Blackmoon Platform! We offer you fast and easy bank card deposits with favourable conditions. Our advantages:
  • below-market fee (3%)
  • no minimum fee (no 20% robbery)
  • no minimum deposit (invest any comfortable for you amount)
In fact, the Blackmoon Platform has a 0% deposit fee. The commission is charged by a payment processor. Please beware when using any listed above service that additional foreign exchange-related fee might be charged. Usually, this fee is taken by the card-issuing bank.
Start investing now!
The process is simple and straightforward:
  • Login to your account,
  • Go to the “Dashboard” section,
  • Click on the blue “Deposit” button in the right up corner,
  • Choose the deposit option: credit/debit card;
  • And follow easy steps to complete your transaction.

https://preview.redd.it/cuiq0w6em8r31.png?width=1438&format=png&auto=webp&s=28ffb7ced11f9d78fbf67e539530425fbee741be
One more benefit of our solution is that you don’t need to buy crypto right away. After funding your account with Euro, you can wait for better prices as long as needed. The best way to do this is to place a limit order at the desired price. The order will be executed automatically when the market price reaches your order price. Please, read more about trading in our FAQ.

Upcoming Gram Listing

Telegram Open Network October launch was recently confirmed by Telegram. Grams will become tradable on Blackmoon Exchange right after the launch. Great news! Blackmoon will provide users with an opportunity to buy Grams via bank cards, which, especially in the early months, will be a truly unique offer.
Currently, we are working hard on adding other payment methods to our platform. This includes bank card withdrawals. Subscribe to our social media channels below, and we will keep you informed regarding any further news and developments.
DISCLAIMER
Subject to regional restrictions and terms of use.
Due to the fact that digital currency and digital token markets are unregulated and decentralized, the provision of our services is not governed by any investor protection rules. Investment in digital currency carries a high degree of risk and volatility and is not suitable for every investor; therefore, you should not risk the capital you cannot afford to lose. This post is for information only and does not constitute solicitation or investment advice.
submitted by jbustamovej to BlackMoonCrypto [link] [comments]

Why you should never use WavesDEX and how their gateway is scamming people.

Exchange itself is fine but their gateways (coinomat) are ridiculous. In order to withdraw your bitcoin, you need to send your WBTC (their bitcoin token) to their gateway, then gateway sends it to your destination address. Now;
After you send your bitcoin to their gateway it takes up to 1 day before it sends your bitcoin. Are you kidding me? This shouldn't take more than 10 minutes ever.
They charge you 0.001 bitcoin (which is twice what binance or bittrex charge for withdrawal), and send your bitcoin with absolute minimum fee they can, last week they sent my bitcoin with 1sat/byte and it took 19 hours for my transaction to get verified once. Considering the exorbitant fee, this is plain robbery. Other exchanges charge half as much and your transaction ALWAYS is verified in next block.
This is not acceptable, don't ever use their gateways.
submitted by PuckFoloniex to CryptoCurrency [link] [comments]

The Importance of Identity Management in Blockchain

By Semaj Rakao
Identity Management is a form of IT online security that is the ability of authenticating different individuals or groups (customers, colleagues, any group etc) digitally and controlling whether they have access to particular applications or systems.
The main goal of Identity Management is to ensure only authenticated users are granted access and permissions to the right resources at the right times and for the right reasons. It addresses the need to ensure appropriate access to resources across many digital environments.
As an example of failed Identity Management, hacks of Bitcoin in South Korea (Bithumb and CoinRail) and the hack of Japan’s Coincheck exchange both consisting and resulting in millions of dollars in stolen currency. It is imperative that for any cryptocurrency exchange to be successful, all transactions must be completely secure and authenticated on the blockchain.
There are many different ways to manage identities some better and more secure than others. With the South Korean Bithumb hack of over $31 million, days before the hack security teams were warned that a number of unauthorized access attempts increased. As such, an urgent server checkup was conducted and at the same time Bithumb also started moving users’ assets to a cold wallet to store cryptocurrencies in a more secure offline environment however this was too late…
In the case of South Korea’s Coinrail, Korea Internet & Security Agency, who carried out the investigation with police, said only four of the country’s largest exchanges are subject to the Information Security Management System certification (ISMS) requirement and Coinrail is not one of them. This is an example of where smaller exchanges such as these do not have enough security and the security they do have in place is not compliant with government regulations (amazingly many are not required!)
Japanese cryptocurrency exchange Zaif had been hacked, with losses of Bitcoin and two other digital currencies estimated at about $59.67 million. Also The Japanese cryptocurrency Coincheck was hacked over $530 million dollars! In both exchanges security was unregulated so there are no protocols in place to create an environment in which these exchanges overall security are updated.
While blockchain technology has been long noted for its security, under certain conditions it can be very vulnerable. Sometimes bad execution can be blamed, or unintentional software bugs. Other times it’s more of a gray area, the complicated result of interactions between the code, the economics of the blockchain, and human greed. In total, hackers have stolen nearly $2 billion worth of cryptocurrency since the beginning of 2017 and that’s just what has been revealed publicly.
Most of the recent headline-grabbing hacks weren’t attacks on the blockchain themselves, but on exchanges, the websites where people can buy, trade, and hold cryptocurrencies. And many of those robberies could be blamed on poor basic security practices.
In both South Korea and Japan’s crytptocurrency hacks, it was the managing of the security of servers as well as the security of identities on the server of the users that were hacked. These cases show how important security and Identity Management is to any exchange.
While most cryptocurrency exchanges have avoided government regulations and some pride themselves on anonymity there is one company that since it’s beginning has focused entirely on transparency.
Yezcoin is a new startup blockchain and cryptocurrency exchange that’s primary focus is user and transaction transparency.
Many have questioned as to why Yezcoin would want to require transparency in a cryptoexchange? Or more importantly why, for a startup ICO, would Yezcoin want to avoid taking illicit funds like most other cryptoexchanges?
One reason and one reason only says creator of Yezcoin Mongkol Thitithamasak,”Honesty!”.
Yezcoin has had mixed responses and feedback about their approach to transparency within this new industry but Yezcoin is still moving forward toward it’s ethical vision.
It is surprising at the low-level compliance requirements of the leading exchanges such as Binance, Huobi, and OKEx. For example, Binance has only recently requested potential customers provide a copy of their passport during their sign up process following a number of complaints about the exchanges lack of security which had made it a haven for criminals to divide their stolen coins into smaller undetectable portions by using multiple accounts. Huobi has added more stringent certification to its sign-up requirements but does not verify mobile phone details. At least, as opposed to Binance and Huobi, OKex requires a passport and utility bill but still shows a facetious attitude to KYC and are still not as focused on transparency.
Yezcoin is a Blockchain Exchange that focuses on providing solutions to allow Blockchain companies to comply with Know Your Customers (KYC) and Anti Money Laundering (AML) rules. These compliances among many different countries are the most trusted amongst banks and other financial institutions throughout the world.
Another goal of Yezcoin says Mongkol Thitithamasak “We are trying to help to create a positive image of Blockchain technology so that the Blockchain community can gain confidence, trust and support from Government and Venture Capitals to further mature Blockchain technology and its applications.”
The future of cryptoexchanges will require more government understanding and regulations. Identity Management security is the most important thing in any Centralized, Decentralized or Hybrid Exchange. It insures trust amongst individuals and groups to execute transactions.
The future of trust in these exchanges might be just as simple as Yezcoin creator Mongkol Thitithamasak says it is “We want to be a pioneer in KYC and AML compliance as well as complete transparency and honesty”. Unlike other exchanges Yezcoin goes to great lengths to insure identity authenticity and helps Combating Financing Terrorism (CFT) . Yezcoin has several products and services in development which Mongkol says “will help bring businesses and communities together securely. “
Yezcoin currently has an Airdrop program where you can get 250 YEZ for completing the KYC and AML registrations and posting on various social media platforms. For full details READ MORE.
Trust in Identity Management is going to be the emphasis of future cryptoexchanges. How these companies manage the bumpy road of security among its users while providing transparency and compliance as emerging standards of KYC and AML as the technology grows will be what separates the different exchanges and layers of trust in their uses.
submitted by JTGuitar7 to u/JTGuitar7 [link] [comments]

Cryptocurrency exchange hack thwarted as thieves lose their own money in failed robbery

Cryptocurrency exchange hack thwarted as thieves lose their own money in failed robbery
https://www.independent.co.uk/life-style/gadgets-and-tech/news/binance-cryptocurrency-exchange-hack-thwarted-viacoin-bitcoin-cybercrime-fraud-a8246961.html
Submitted March 09, 2018 at 12:37AM by Danyo- - https://www.reddit.com/news/comments/835s7n/cryptocurrency\_exchange\_hack\_thwarted\_as\_thieves/?utm\_source=ifttt
via /news - https://www.independent.co.uk/life-style/gadgets-and-tech/news/binance-cryptocurrency-exchange-hack-thwarted-viacoin-bitcoin-cybercrime-fraud-a8246961.html
submitted by Laurelais-Hygeine to NoFilterNews [link] [comments]

Binance CEO Says Bitcoin Mining May Move to Cheaper Places ... Crypto News  Bitcoin Breakout Imminent? Exchange Robbery Thwarted! Binance Exchange Tutorial 2020 - Beginners Guide to ... Binance Bitcoin Exchange How to buy TRON TRX using the Binance Exchange - YouTube COMO COMPRAR BITCOIN NA BINANCE COM TRANSFERÊNCIA BANCÁRIA ... How to Transfer Bitcoin From Binance to Coinbase - YouTube Binance Exchange Tutorial: How To Sell On Binance (Sold My ... Binance : Exchange de CRIPTOMONEDAS - Comprar y Vender ... BITCOIN STORTEN OP BINANCE EXCHANGE  BNB COIN KOPEN - YouTube

‘BITCOIN LEDGER IS THE MOST IMMUTABLE’ That was the conclusion circulating among the cryptocurrency community May 8 in the days after one of the world’s biggest trading platforms accepted it was unlikely to recover the funds and would need to repay users out of its own pocket. Hackers succeeded in circumventing Binance’s security protocols earlier this week, launching what executives ... Any user complaints to Binance would spell disaster for the hackers. Getting Away with Highway Robbery. Bitcoin’s value and reliability are greatly due to the fact that the ledger is immutable ... The heist, said to be worth a staggering $41m, was admitted by Binance in a security breach update issued on Tuesday, and the exchange said that the hackers had used ‘a variety of techniques ... Armed Robbers Target Bitcoin Exchange. by Anca F. January 26, 2018. in Cryptocurrency News. Three armed robbers entered a bitcoin exchanged located in Ottowa, Canada, and proceeded to tie up the four employees that were inside, according to the Ottowa police. One of the employees was also struck on his head with a handgun. It was also reported by Coindesk that the robbers tried to force one of ... Thanks to the effort of Over the Counter (OTC) crypto exchange firm, robbers were foiled from completing the heist of around $5 million from an account of the metallurgical company Gerdau at Santander bank. The robbers tried converting the stolen funds into Bitcoin, which drew attention and led to several bank accounts being frozen. Binance exchange hackers steal bitcoins worth $41m (bbc.co.uk) 112 points by rayascott 41 days ago hide past web favorite 131 comments: beager 40 days ago. I get that is part of bitcoin, not the protocol failing, personal irresponsibility etc etc. But I’m seeing less and less a justification for the deliberate lack of security in the bitcoin world. So a hack like this happens ... In August 2016, the Bitcoin exchange Bitfinex announced that it lost $77 million worth of Bitcoins in a Bitcoin robbery organized by multiple hackers. The company foisted the costs on to users and forced them to take a 36% reduction in the value of their deposits. This has been one of the biggest Bitcoin scams up to date. Hackers Steal $40 Million Worth of Bitcoin From Binance Exchange By . Eric Lam. May 7, 2019, 9:56 PM EDT Updated on May 8, 2019, 5:56 AM EDT 2:24. Hackers Steal $40 Million Worth of Bitcoin From ... Binance, the world’s largest cryptocurrency exchange by volume, said the theft impacted about 2% of its total bitcoin holdings. “All of our other wallets are secure and unharmed,” said the ... Binance, one of the world’s largest cryptocurrency exchanges, said hackers stole more than $40 million worth of bitcoin from its platform in what it called a “large scale security breach.”

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Binance CEO Says Bitcoin Mining May Move to Cheaper Places ...

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