Binance 7000 BTC Hack

(CryptoMange) #1

This is why self-custody is so important.

(Alex) #2

A friend of mine is marketing expert and he says it shows signs of Viral marketing move

Believe me. After Nash launch. Binance will come up with the ‘we have captured the hackers’ and ‘here are our improved security measures’ and ‘we also have a self custodial DEX btw’ Making Nash messages very noisy.

=> Nash need better selling proposition than ‘security’.

We need nash to expand and built ASAP
(.) #3

All recent exchange related stories seem to point directly to the need for a self-custody, regulated solution like Nash… Nash solves real world problems.

1 Like
(Olu ) #4

Are you kidding me? Security of funds is Nash’s biggest selling proposition.
If Binance is truly proud of their DEX why would they simultaneously run a CEX?
This hack is scandalous and there’s no hiding it.

(Mao Mao) #5

Well if you could receive funds from your CEX and a DEX, why not, right? Why would you prevent your second income flow? Thats what cz is doing… if he cares about customer’s funds at all, he wouldnt open a CEX in the first place tbh. @Olu

(Olu ) #6

Not a wise business model long term. The DEX and CEX, both owned by Binance are basically going to be competing. Doesn’t make sense tbh

(Mao Mao) #7

It makes sense if he were to “compete with each other(CEX AND DEX)” , preventing his users from leaving its platform.

He would forecast he “loses no customers” this way since they either choose dex or cex.

Nash will be more superior imo though, since binance DEX can still stop you from withdrawing whenever they like.

(Mao Mao) #8

The only issue is that the bnb “Dex” is fake and centralized and pegged to bnb. And requires a hardware wallet to trade.

(FCC) #9

At Nash we are very sorry for everyone affected by the hack. Security is a strong value of Nash but not the only one. Mostly we believe in true genuine capital freedom, and unfortunately that was also attacked in the follow up of the hack with the proposal to reward for pools doing block reorganization. That is directly against the values we promote and personally concerned me if BTC was Binance Chain what would have happened. I imagine it was a lapse from CZ in a moment under enormous stress but was very unfortunate.

(Elcontador) #10

Exactly, it tries to manipulate something that it does not control, I do not want to imagine what CZ does with what it controls.