Will exchanges hacked by hackers affect the price of BTC?

[DiamondBit 720]

If I heard an exchange is hacked, if I am using the exchange, and my funds their not her hacked, I will convert it to fiat immediately for withdrawal, not only me will do that but the remaining of us, if the amount of bitcoin converter to dollar is much, bitcoin price will be affected. 

[Yomose 3704]

On 5/26/2020 at 3:15 PM, Virgil dijk said:

I think when an exchange is being hacked and a very large amount of bitcoin was stolen from the exchange at the main moment the price of bitcoin will be affected depending on what the stolen bitcoin will be used for , but after some weeks the price will bounce back to it's normal price .

No, not because large amount was stolen that will directly affect the price of bitcoin, it is because people using the exchange will panic and withdraw there money asap. 

[BitcryptoHan 2557]

37 minutes ago, lezys750 said:

I believe not because it has happened several times and has never affected the price of bitcoin, because they hack and do not dump it is only for them saved and will be dumped little by little in the future.

I think o have never heard about it affecting the price of exchanges, but it can happen. Check the quote below. I think if they the users panic and withdraw money, it may affect. 

1 hour ago, Yomose said:

No, not because large amount was stolen that will directly affect the price of bitcoin, it is because people using the exchange will panic and withdraw there money asap. 

 

[BTC Future 3946]

On 8/1/2020 at 11:21 AM, Moneyguru said:

The address that they use to stole will be marked as a criminal address, and no exchange will accept them to sell the BTC/ other altcoin.

They can obfuscate transactions using Bitcoin Mixers and send them to exchanges that accept wallet addresses coming from these services. They have many ways to launder the stolen money but eventually they will make a mistake and be found. Authorities and on-chain analysis researchers are always looking into clues.

[Yomose 3704]

22 hours ago, BTC Future said:

They can obfuscate transactions using Bitcoin Mixers and send them to exchanges that accept wallet addresses coming from these services. They have many ways to launder the stolen money but eventually they will make a mistake and be found. Authorities and on-chain analysis researchers are always looking into clues.

That is the main function of a mixer, and what baffles me is that the use of mixer is on the rise now. It makes transactions more so complicated to be tracked. 

On 6/16/2020 at 2:47 PM, DreamStage said:

Basically most of the time what happens during such hackings it that investors will try to run out of the exchange for quickly as possible thus selling their investments into profit therefore price goes down way quickly.

 

Then they will invest somewhere else and buy and price gets back again.

 

Or the hackers might as well sell and price gets even more lower.

Have you noticed any decrease in price of cryptocurrencies  after any exchange hacked before?

[FIA17 44]

I do also agree that the price of bitcoin is not affected if an exchange gets hacked or not as it is happening fairly often now that exchanges are indeed getting hacked but the price of bitcoin does remain normal. Just recently KuCoin got hacked however the bitcoin price did not reflect much change at all during those news.

[Moaz 7239]

Hacking crypto platforms and stealing millions of dollars of cryptocurrencies from users 'money is a very bad thing, and it is one of the biggest problems facing the crypto world at the present time because it increases dramatically during the period, and I think that these platforms should protect users' money with the best protection methods. As for the Bitcoin price, I don't think it is greatly affected by these hackers

[Michar1 1693]

Wow, there are really many exchanges that have suffered from an attack, at first if I thought that the price of bitcoin would be affected, but after asking they confirmed that it does not affect at all, but the exchange if in its history.

Edited November 14, 2020 by Michar1

[Jhon00 97]

When an exchange is hacked, the price of bitcoin or another cryptocurrency will not affect its value unless the pirates sell a large number of cryptocurrencies, which may affect the market.

[Captin 0]

Hello my friend .. At the beginning we must admit that hackers steal Bitcoin is very difficult, they need to be a team to do that ... As for their influence on the purchasing power, I do not think that they can influence it because the number of currencies is almost constant even if it is stolen, it does not change Worth

[rafatu 26]

Yes exchanges hack can have a impact on btc price. it all depend on the hacker if he dump on the market' price will be low and if he buys more price will be high.

[hhichem 54]

Yes, of course, it affects in terms of liquidity and in terms of fear and panic, and people will sell out of fear, so the price is lowered

[Maaz sultan 265]

Yes these incidents are happens with this young crypto market but the developers making strong this technology day by day and we learn from our mistakes therefore now the wallets and exchanges are making stronger by the time .

[maher .youssef 128]

Yes, it can affect, but according to the platform being hacked and the amount of Bitcoin that has been stolen, and it will be for a while, after which the market returns to recover

[Mohmaza 46]

, We cannot blame all of the blame on exchanges because the cost of providing final information security is too high and can make the exchange really unprofitable.  Although it was clear that there was an internal involvement in the malicious attack.  Personally, I am shocked to read about the huge numbers that run into the hundreds of millions

Edited October 18, 2020 by Mohmaza

[Devid H Sande 6]

Hacker always become evil for all of us, security system already have be careful with our device but hacker always can hacked. Report to the police maybe become the best solution, they do is crime isn't? 

[Zeshan Khalid 2577]

Price of BTC on different exchanges depends a lot on the time zone as well in which they are lying. But overall if we consider everyone in same time zone then there is no difference in BTC prices between a hacked and non- hacked exchange.

[Sykkuno 2887]

Hacks happened and will keep happening and personally I only use exchanges that are clean of hacks. Which exchanges never had a hack before and are running for years without any interruption? 

Yobit

Kraken

Coinbase

Bittrex

There are more but these are the big ones that never had problems of hacking or governments raids and shut downs. Huobi is one that has some problems recently and the rest are very small exchanges that are only active for a couple of years and have not convinced me.

[Jandancoin 482]

In this case, anything can happen, it is very possible for the price to either increase or decrease, but I do not think this can actually result to any increase or decrease, but it can come with other factors that can make people to panic to do otherwise. 

[ShiNorton 906]

Yes friend it affects the price of Bitcoin in the crypto market because investors start to cash out their money due to FUD. We have seen so many price fall cases of Bitcoin after some exchange hacks. 

[DreamStage 2105]

If we are talking about the prices being sold / bought after such hacking attempts being successfull than yes Price were always affected.

 

First of all most of the Investors will run away with their investments if they can (those who still got some of their funds available ofc) into another exchanges therefore selling their investments -> money -> price will go lower.

 

Than at the newer exchange they will look for a newer investment perspective, they will buy such cryptos therefore prices will go up again.

[JanBomCrypto 494]

If an exchange I hacked, the price of bitcoin will not be affected, like recently when kucoin was hacked, the price of btc was still good. What affect price of bitcoin I not about hack but about selling it. 

[Jandancoin 482]

2 hours ago, Victoria' said:

i think it will depend on the exchanges because there are some big exchanges like binance that will definitely affect us on the market but small exchanges wont be much change to the price

 

 

I do mot think it depends on the exchange, is kucoin not a big exchange, why was it hacked in two months ago and yet the price of bitcoin and cryptocurrencies are still rising. I do mot think this is possible. Another thing is causing the price of cryptocurrencies to rise or all, not hacks on exchanges. 

[iloveyobit 6599]

You must first know that the market and the price of Bitcoin in particular are affected by the panic that affects traders, that is, if there is bad news in the world such as hacking platforms and stealing money, as well as banning Bitcoin in major countries, it will definitely affect the price of Bitcoin.

[duncun007 3577]

On 11/6/2020 at 6:44 PM, Rafi74 said:

I think that a cryptopia exchange had a large amount of bitcoins but it was blocked for hacking. But if this exchange remain opened. I think that the bitcoin prices get up to more than thousand dollars up if cryptopia remain opened

yea id dont know if you have been around during the cryptopia hack but it didnt affect the market at all, first of all because cryptiopia was not that big and they dont have much volume anyway. neither did the kucoin hack affect the market.