Dark Light
Reddit Scout Logo

Reddit Scout

Discover reviews on "indodax" based on Reddit discussions and experiences.

Last updated: September 12, 2024 at 09:02 PM
Go Back

Summary of Reddit Comments on "Indodax"

Indodax Security Breach:

  • Losses: Estimated at $18.2 million due to a security breach involving over 150 unusual transactions.
  • Users express concerns about the security protocols and safety of user funds.
  • Insider Job: Some users believe it was an insider activity rather than a hack.
  • Exchange Reaction: Users question the suspension's purpose and doubt CEXs' reliance on the underlying network of coins.
  • Withdrawal Concerns: Users are looking to transfer assets from Indodax due to maintenance issues and concerns about accessibility during price surges.

User Recommendations and Reactions:

  • Users recommend considering alternatives like Tokocrypto due to fees and reliability concerns with Indodax.
  • Some users express skepticism about the safety of assets on Indodax, highlighting the need for caution and diversification.
  • Concerns about the reliability and trustworthiness of CEOs' statements regarding asset safety and the future stability of Indodax are raised.

Exchange Comparison:

  • Users compare the situation with previous exchange hacks like Mt. Gox and suggest that the handling of user withdrawals will impact the exchange's future.
  • The potential for asset collapse and difficulties in withdrawing all funds in case of a mass exodus from the exchange is highlighted.

General Comments about Crypto Exchanges:

  • Negative Sentiment: General sentiment includes frustration with frequent exchange hacks, skepticism about asset safety, and concerns about the volatility of the market.
  • Users discuss the challenges of trusting crypto exchanges and mention instances where users kept funds in traditional banks or private wallets to avoid risks associated with exchanges.

Other Mentions:

  • Users express humor through memes, gifs, and cultural references, adding some levity to discussions around the serious topic of exchange security breaches.
  • Some comments reflect on the potential implications of the security breach on the Indonesian fintech ecosystem and the need for enhanced security measures in the digital asset space.

Products Mentioned

Sitemap | Privacy Policy

Disclaimer: This website may contain affiliate links. As an Amazon Associate, I earn from qualifying purchases. This helps support the maintenance and development of this free tool.