World’s largest crypto exchange hacked with possible losses of $500m

If bitcoin was hacked, what company would you say is hacked there? Bitcoin isn’t owned by any company, it’s decentralised.. in 12 years bitcoin hasn’t been hacked or cracked or broken.. it’s worth 1 trillion dollars to the first hacker who can successfully break it and nobody ever has.. so that’s what people mean by it being more secure than a bank.. not even the US government can bring it down..

Bitcoin is a crypto, can’t be hacked. Binance is an exchange, which is a company that has a central database and keeps its own ledger like a bank.. nobody says exchanges are more secure than banks, they exclusively are referring to decentralised crypto like bitcoin when they say it’s safe and secure..

If you park your car on the street and keep your key on you, maybe your cars security is enough that it can’t be easily stolen.. if you park your car in a garage and leave your key with a valet and it gets stolen, you’re not going to say the car has bad security.. exchanges can be hacked but that’s not the same as your car having poor security.

/r/news Thread Parent Link - theguardian.com