VeChain Buyback Wallet Compromised

[Shivam1 428]

On 12/14/2019 at 1:22 AM, Fadzinator said:

Unfortunate news from one of my favorite coin/project.
VeChain's buyback wallet was compromised, 
Estimated $6.6M was stolen and transfer to a hackers wallet.
Now this wallet was put into watchlist and already notified almost all major exchange to block all transaction coming from this wallet.

More info: https://bitcoinist.com/vechain-loses-1m-coins-from-compromised-buyback-wallet/
https://cointelegraph.com/news/vechain-loses-11b-vet-tokens-to-hacker-in-attack-on-buyback-wallet

This is the very bad news. Many customers of Vechains are sad. I think security system is most important in every wallets. Many people are also loss their money.

[BrolySSJ 7899]

this is a lot that was stolen and was transferred tot he hackers account. I think that such security issues such as this one is what deters people from making use of crypto and from relying on the implementation of the blockchain technology. Although blockchain is a brilliant technology that offers some sense of security, the fact that it is an online system always leaves room for hacking. Furthermore, no one will think about this wallet ever again as the hack has left them vulnerable and losing clients.

[TimopheyKa 3900]

This is very sad news! I always get uneasy when I see a site being hacked and users ' money being withdrawn, and it's so sad! But there is nothing to do, it is a cryptocurrency, and all transactions are anonymous ;( (

[AkaCrafterCZ 1140]

2 minutes ago, TimopheyKa said:

This is very sad news! I always get uneasy when I see a site being hacked and users ' money being withdrawn, and it's so sad! But there is nothing to do, it is a cryptocurrency, and all transactions are anonymous ;( (

I've never used VeChain so it's not a loss for me, but it really is unfortunate to get any losses especially in the crypto space, you know it's all decentralized and no one can prevent a transaction from being made or revert it, unless you'd hack the whole network itself. 

[BTC Future 3946]

The blacklisting of addresses after the Vechain hack justifies opponents that were claiming how centralized Vechain was. Tracking and freezing accounts with the release of a patch highlighted this. 

[Cryptomint 433]

VET is really a good crypto currency. I was reading that on the airport the VET is accepting as for payment. Now this is also good news.

[Smallingcane012 344]

Buyback wallet compromise is very good and useful in many ways especially i in term of crypto and to earn money.

[Syedbesharat 5423]

On 12/14/2019 at 12:52 AM, Fadzinator said:

Unfortunate news from one of my favorite coin/project.
VeChain's buyback wallet was compromised, 
Estimated $6.6M was stolen and transfer to a hackers wallet.
Now this wallet was put into watchlist and already notified almost all major exchange to block all transaction coming from this wallet.

More info: https://bitcoinist.com/vechain-loses-1m-coins-from-compromised-buyback-wallet/
https://cointelegraph.com/news/vechain-loses-11b-vet-tokens-to-hacker-in-attack-on-buyback-wallet

One of famous projects are at hit list of hackers recently and causing huge damage to crypto. This incident will cause down fall for this project and users will no longer invest in it or bring low investment. So far I see this project was quite famous and  was making good name. But after hacking many of exchanges have stopped the transactions with the hacked wallet. This isn't good for crypto future. 

[Khan 1414]

On 5/2/2020 at 1:09 PM, Shivam1 said:

This is the very bad news. Many customers of Vechains are sad. I think security system is most important in every wallets. Many people are also loss their money.

That's the reason I recommend to use the safe wallets but it also depend on the server security as the attacker attach on the server not on user wallets and once the server got hacked than all the wallets are compromised.