Crypto exchange hacks

[achiever2011]

There had been many cases where crypto exchanges had been hacked in past. Was it possible to recover funds in any case ? Why is it so hard to trace and find the culprits ?

 

[alurosu]

Was it possible to recover funds in any case ?

Some exchanges have an emergency fund and they refund the users from that. In other cases they get money from insurance. But they do not really recover the stolen funds. Crypto transactions are permanent. You can't reverse them.

Why is it so hard to trace and find the culprits ?

There are privacy oriented blockchains and once the funds are swapped, nobody can trace the money.

 

[ManniRanneri]

Just don't keep your money on exchanges and you should be good.

 

[alurosu]

Just don't keep your money on exchanges and you should be good.

Are you better at keeping your passwords safe compared to an insurance refund from big exchanges?

 

[Grace_33]

There had been many cases where crypto exchanges had been hacked in past. Was it possible to recover funds in any case ? Why is it so hard to trace and find the culprits ?

Not only did losing money to a cryptocurrency fraud a financial setback, but it also caused me emotional distress. I kept thinking back on everything, wondering how I missed the warning signs. I felt ashamed and powerless, so I kept it a secret for weeks. In the end, I contacted TREQORA INTEL , and I must say that I'm happy I did. Every step of the journey, they kept me informed, listened, and didn't make me feel foolish. In the end, they were able to retrieve a portion of my money and were honest about what was feasible. Above all, it brought me peace of mind, and that was crucial.

 

[Flamee]

we handled a mid size exchange breach once. funds moved by peel chains and bridges. a small slice was recovered after we published the hacker addresses fast and partners set freezes. quick insight: the first hour is everything; public tags lift freeze rates