At least $13,000,000 stolen from Cryptopia

Funds should be kept in whatever places you prefer, where you are in 100% control of your private keys. It can be hardware wallets, paper wallets, even hot wallets on a dedicated smartphones (for small amounts).
Exchanges are OK if you like to change from one coin to another. As soon as you done this - run away from the exchange. Do not keep your funds there even for one extra hour.

One may reply - what about trading?
Well, trading is mainly driven by one thing, by greed, by one single desire - to have more.
Yes, there is a possibility to have more (by trading).
As with every possibility to profit - here comes risks.
Big profit possibilities brings big, HUGE risks.
There is hardly any other more risky place to keep our cryptos than on centralized exchanges.
Who said this (Andreas?) - there are only two types of exchanges :
Those which already been hacked, and those which WILL BE hacked.

Below is a nice short list of 10 famous crypto places:
PicoStocks, Mt.Gox, BTC-E, Poloniex, Bitcurex, Cryptsy, BTER, MintPal, Bitstamp, ShapeShift

Guess what three common hings I can say about them?

I had accounts, and been used them one time or another there, in all 10 of them
All 10 been hacked in the past, and lost their client funds
I have never lost even one single satoshi in any of those 10 places

Why?
Because I do not trade, at least not day trading. And I REMOVE my funds immediately once I have my desired exchange completed.

Seems like a simple rule?
But it works !

$8.84

7 votes

[-]

akdx (66) · 6 years ago

Cryptos were termed as the most secure form of money but they are proving worse than the fiats. Will cryptos replace fiats in such a way?

$0.07

1 vote

[-]

themarkymark (78) · 6 years ago

The problem is it isn't the crypto that is insecure, it is the Exchanges and wallets.

$0.16

3 votes

[-]

onealfa (74) · 6 years ago (edited)

Exactly !
Problem is not in wallets ( usually), and not in code
Problem is in humans.
Once I transfer to exchange - all I can do is trust in human ( in exchange owners, coders, manger etc etc)
There will be always an insider problem, greed problem etc, and always in the form of human.
There is not even one single human on this planet, who I trust as much as I do in strength of SHA256 hashing. Period.

$0.22

5 votes

[-]

abitcoinskeptic (73) · 6 years ago

I feel sorry for these people, cryptopia was a great exchange that had a lot of unique coins and a nice crypto market with unolique offers.
It wasn't just another Binance knockoff with lambo give aways for people who create fake volume.
I leave small amounts of strange coins that don't fit in my hardware wallet on exchanges or if the amount is small and the fee to offload will eat me. However, I don't add it to my portfolio tracker until it is in my wallet because I consider it a write off.

$0.03

2 votes

[-]

dreamryder007 (67) · 6 years ago

ouch

$0.00

1 vote

[-]

hasenmann (65) · 6 years ago (edited)

hmmm... ok... so lets see if my 0,05 BTC and my 4000 Doge are still there after the maintenance...

Thanks for the update!

Resteemed

$0.00

1 vote

[-]

felander (71) · 6 years ago

Not a good thing for crypto in general...

Posted using Partiko iOS

$0.00

[-]

gingerninja (59) · 6 years ago

Its a good thing I stopped using cryptopia a while ago, but this is a good eye opener to get my crypto secure!!

$0.00

[-]

adetorrent (74) · 6 years ago

Time to hard fork and create Cryptopia Classic I guess :/

$0.00

[-]

a-blockchain (38) · 6 years ago

Cryptocurrency market on January 14th. While the script

$0.00

[-]

fr3eze (68) · 6 years ago

Logged in this platform last week since long time ago, just to check if my delisting coins is still withdrawal-able, it was not, and it doesn't matter anymore.

$0.00

[-]

robertoueti (67) · 6 years ago

Holesh***
That is why I said to everyone, do not store cryptos in exchanges!!

$0.00

[-]

naijauser (56) · 6 years ago

Wow. What a setback for the crypto image and public confidence.

Posted using Partiko Android

$0.00

[-]

lucylin (67) · 6 years ago

NZ police?

I thought @frot had been quiet lately...lol

$0.00

[-]

lostmine27 (67) · 6 years ago

Thanks for the info.

$0.00

[-]

ddrfr33k (63) · 6 years ago

Just moved a bunch of LTC and BTC off of coinbase.

$0.00

[-]

matt-a (65) · 6 years ago

Nasty . . .

I wonder what coins were stolen . . .

I also wonder how much shit is in the pants of the owners/folks that run Cryptopia at this given moment . . .

$0.00

[-]

blocktrades (74) · 6 years ago

From the post, it looks like their eth was stolen.

$0.03

2 votes

[-]

matt-a (65) · 6 years ago

Too bad it wasn't EOS, could've been rectified.

$0.00

[-]

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$0.00

[-]

hexzerg (37) · 6 years ago

Exchanges should be used as something to make a fast exchange between two cryptocurrencies. As soon as you make the transaction, you just move it back to your wallet.

$0.00