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Mixin suspends deposits and withdrawals after $200M cryptocurrency heist

theregister.com

21–30 of 85 posts

Re: Mixin suspends deposits and withdrawals after $200M cryptocurrency heist

#21
> on the social media platform formerly known as Twitter

Do they not like the new name? I don't either, though. I've seen a lot of "on X (formerly Twitter)" around and that's why I don't like the new name. If it were a good and memorable name we wouldn't need to qualify it like that.

Re: Mixin suspends deposits and withdrawals after $200M cryptocurrency heist

#22
post #3
post #2

> Mixin Network confirmd on Monday that it has "temporarily suspended" all deposit and withdrawal services after hackers broke into a database and stole about $200 million in funds from the Hong-Kong based cryptocurrency firm. > Mixin, which is a decentralized exchange, These 2 statements seem to contradict each other. If they are a decentralized exchange, how were funds stolen by hacking into a database?

"Decentralized" isn't a magic word. They're still an exchange, and there needs to be a way to extract funds. The database doesn't need to contain account balances or funds so long as it contains credentials necessary to access them.

bisq.network[1] seems to be doing it fine, and non-fiat decentralized exchanges have existed longer. They just don't get the hype.

[1] https://bisq.network

Re: Mixin suspends deposits and withdrawals after $200M cryptocurrency heist

#24
post #23

Every time I see these stories I'm glad I keep all my cash in a regulated bank with regulator backed compensation rather than some startup powered by gargling bong water and hoping the fuck they don't get hacked.

Every time I see these stories I'm glad I keep all my bitcoin in my own self-custodial wallet. Not your keys not your bitcoin.

You keep fiat currency in a bank? HFSP

Re: Mixin suspends deposits and withdrawals after $200M cryptocurrency heist

#25
post #23

Every time I see these stories I'm glad I keep all my cash in a regulated bank with regulator backed compensation rather than some startup powered by gargling bong water and hoping the fuck they don't get hacked.

Every time I see these stories I'm glad I keep all my bitcoin in my own self-custodial wallet. Not your keys not your bitcoin. You keep fiat currency in a bank? HFSP

Enough to eat for a couple of years. I keep my fiat currency in property.

Re: Mixin suspends deposits and withdrawals after $200M cryptocurrency heist

#26

> on the social media platform formerly known as Twitter Do they not like the new name? I don't either, though. I've seen a lot of "on X (formerly Twitter)" around and that's why I don't like the new name. If it were a good and memorable name we wouldn't need to qualify it like that.

More like there's many who don't even know about the name change.

Re: Mixin suspends deposits and withdrawals after $200M cryptocurrency heist

#27
post #25

Earlier quoted context omitted.

Every time I see these stories I'm glad I keep all my bitcoin in my own self-custodial wallet. Not your keys not your bitcoin. You keep fiat currency in a bank? HFSP

Enough to eat for a couple of years. I keep my fiat currency in property.

Only property? Don't keep all eggs in the same basket. I keep my net worth in both property and bitcoin.

Re: Mixin suspends deposits and withdrawals after $200M cryptocurrency heist

#28
post #23

Every time I see these stories I'm glad I keep all my cash in a regulated bank with regulator backed compensation rather than some startup powered by gargling bong water and hoping the fuck they don't get hacked.

Every time I see these stories I'm glad I keep all my bitcoin in my own self-custodial wallet. Not your keys not your bitcoin. You keep fiat currency in a bank? HFSP

The dude who's been hunting for his hard drive with his wallet keys on a dumpster yard would like to speak a word with you. Or those who had their disks seized by the government and the coins auctioned off. Or those where someone placed malware on their PCs or phones and exfiltrated keys.

Re: Mixin suspends deposits and withdrawals after $200M cryptocurrency heist

#29

> on the social media platform formerly known as Twitter Do they not like the new name? I don't either, though. I've seen a lot of "on X (formerly Twitter)" around and that's why I don't like the new name. If it were a good and memorable name we wouldn't need to qualify it like that.

"X" is overloaded, so you can't really use it without an additional specifier such as "formerly Twitter" and be certain people know which X you're talking about. It's one of the reasons why X is a really stupid name.

Personally, I just skip the whole issue and call it Twitter. Everyone knows what that is.

Re: Mixin suspends deposits and withdrawals after $200M cryptocurrency heist

#30

Earlier quoted context omitted.

Every time I see these stories I'm glad I keep all my bitcoin in my own self-custodial wallet. Not your keys not your bitcoin. You keep fiat currency in a bank? HFSP

The dude who's been hunting for his hard drive with his wallet keys on a dumpster yard would like to speak a word with you. Or those who had their disks seized by the government and the coins auctioned off. Or those where someone placed malware on their PCs or phones and exfiltrated keys.

Your bank account can sure ve seized by the government and even not auctioned off.
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