Binance hit by $40m bitcoin theft The Royal Gazette ...

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]

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Binance, one of the world’s largest cryptocurrency exchanges, said hackers withdrew 7,000 Bitcoins worth about $40 million via a single transaction in a “large scale security breach,” the ... It is not the biggest theft of bitcoins to date. That honour goes to Mt Gox , which in 2014 was hacked to the tune of $470m . The theft lead to the liquidation of the exchange . 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.” ‘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 ... Binance traced the cryptocurrency theft — more than 7,000 bitcoins at the time of writing — to a single wallet after the hackers stole the contents of the company’s bitcoin hot wallet ... Binance said the robbery happened from the organization’s alleged “hot wallet,” which represents about 2% of its complete bitcoin possessions. A wallet is a computerized methods for putting away cryptographic money. A “hot wallet” is one that is associated with the web instead of a “chilly” one which stores advanced coins disconnected. May has been a great month for bitcoin going from $5,200 to $9,100. This coincides with the blockchain week in New York with many events like Consensus, Magical Crypto, etc. What is behind this sudden surge in bitcoin price? As indicated by a new report from Binance, the biggest spot crypto exchange saw an unexpected The term Bitcoin robbery is used by a lot of people who have been scammed to show how much Bitcoin (BTC) they lost, how they felt etc. In today’s crypto news, we are listing the biggest Bitcoin scams and report the top cases where most BTC was stolen from users.. Bitcoin hackers stealing $500,000 in 2011 The Most Top 10 Bitcoin Exchange Stolen Hacks Biggest Bitcoin Robbery Bitcoin Basics English. May 19, 2019 admin Basics Of Bitcoin 4. To Buy the book “BITCOIN BASICS: LOGIC AND MAGIC OF DIGITAL GOLD” click on the link :: For Bitcoin and Cryptocurrency news … Subscribe to Get more stuff like this. Subscribe to our mailing list and get interesting stuff and updates to your email inbox ... One of the world’s biggest cryptocurrency exchanges, Binance, has been hacked and an estimated $40 million worth of bitcoin stolen.It has temporarily suspended all withdrawals on its platform as ...

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Use a Debit Card on Binance US to Buy Bitcoin! - YouTube

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