The numbers are a little misleading. The $570 million hack from four years ago was on Binance chain bridge and not on the Binance exchange itself. Its the 2019 and 2026 ones that happened directly on binance. And the attackers only made away with an estimated $100m from the 2022 BNB Chain bridge hack.


They were security conscious before the hack, so I know they would squeeze out every last bit of security left lol.

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Quick Question: Does anyone feel that there is any connection between this Binance hack and just the last few weeks where there were reports around Europe about potential hacks using AI?

Bitcoin =! Binance
So the hack that happened on Binance doesn't necessarily should point out to bitcoin. If this is the type of thoughts you have for satoshi, then those people who's made a fortune out of it will be the first ones to defend that it's not made by radical people. We've seen how it's changing the world through finance and making people involve more with their own money and investments and putting it to more self custody. If satoshis plan is to scam then no one is here anymore, people flee from harmful and deceptive investments.

No, why would I? Just like others are saying, the one that got hacked is Binance, not Bitcoin or any crypto. So why would anyone change their views on crypto? After Binance resumed withdrawals, they processed about $3.6B in total. Did those who withdrew change their views on crypto? Definitely not, it's just a natural reaction because of fear. For sure, they will just move it to a different wallet or cex. Look, we are even back at $78k and the price of Bitcoin didn't even dive deeper and seems to be getting back again. That just shows how strong the community's trust in crypto is.

why should we change our view of Bitcoin?

binance is binance

bitcoin is bitcoin

nothing to do at all.



Without any incidents of binance hacking though my view of not keeping assets on the cex was unanimous from the start. No matter how great the reputation of a centralized exchange when you have bitcoin in it immediately pull out if the goal is just investing. Even experienced traders usually withdraw profits to cold wallets consistently.

No, even before there was already hacking incidents and being Binance doesn't mean they got an immunity to dodge that one, they're probably more prone to it considering how huge they are and this incident was probably planned well and coordinated I guess. I don't think that was Satoshi's intention inventing it, it was the other way around. I think the notion that it's the perfect to exist is good but there are pros and cons on it and judging by human interests I don't think it will be the one true currency, influential people wpuld probably mean to abolish it.

It is true that binance exchange has been hacked and those who kept their Bitcoin in binance exchange are affected, however the creator of Bitcoin Satoshi Nakamoto has good intentions for creating such decentralized cryptocurrency, and is appreciated by those of us who understands the value of decentralization.
There is nothing wrong with Bitcoin, but where we keep our Bitcoin  may be wrong, and our method or attitude towards Bitcoin investing may also be wrong, and that is the more reason why you see some people loosing their Bitcoin asset.

Several attacks on different exchanges have been happening before now, and we also know that exchanges are not reliable to store our Bitcoin or even other cryptocurrency meant for long term investment. There are many Bitcoin investors whose investment are safe, and that is because they kept their Bitcoin asset in a safe wallet instead of an exchange, and have also cultivated good security measures, why then do some people see Bitcoin as scam when they have failed in their own responsibilities as investors.

What does a company getting hacked have to do with Bitcoin? Why should that change anybody's view on Bitcoin? If Bitcoin gets hacked, then we can have this conversation. The anti bitcoin media have been trying to paint a narrative like Bitcoin and crypto related companies are the only ones that get hacked, but it's far from the truth. Traditional financial services, the healthcare sector, and even government services get hacked. So cyber attacks did not start with crypto, and they won't stop with it. Every other tech sector also get cyber attacks, why is nobody asking if it changes people's view on those sectors?
These attacks cannot change my mind on Bitcoin. It will only show me how careful I need to be. As long as I don't keep my money in exchanges and I keep my wallets and devices safe and secure, I have very little to worry about.

There is something sensible in the crypto space that could be used for "good" purposes even though we see Binance hack or other exchanges gets the experiences. It is about their security so they must maintain and guard it well avoiding the hack. We don't know when the hack will happen so that makes exchanges or other services should aware and be ready.

The hackers searching for the bug that they can use to steal the asset so it is the exchanges job to make sure their security is active and prevent the hack. They have a security team that monitor the penetrating so they should block it before that damage their system.

Sorry but your way of thinking is a naïve way to think, first and foremost, Bitcoin and binance has no relation and the fact that binance was hacked has not and does not and should not rub off or give people any negative feelings or impression about bitcoin, Bitcoin wasn't the reason binance got hacked, they got hacked because they had a security flaw in their system.

Like the old saying that soldiers will come and go, and the barrack will remain, I will simply say that exchanges like binance and the rest will come and will go, and bitcoin will always remain and this is because bitcoin is not tied to any of this exchanges, Bitcoin is simply a currency that over time have proven itself worthy of trust, exchanges are only trying to make money off bitcoin and whatever happens to any of them (on the norm) does not mean that Bitcoin is flawed in any way, if scammers were the inventors of bitcoin, I tell you it would have been long dead.

Only things of value get stolen. Grain, gold, Bitcoin...