It is very traditional story when we are talking about exchanges. People pay most of their attention on profit and store their crypto on exchanges. They don't care or pay very little attention on non-custodial wallets to save their cryptocurrencies.
Some people are careless as they store their 2FA activation codes, private keys, mnemonic seeds on online services. They think those companies are Google (Google Drive), Dropbox, Microsoft (Azzure) and thought the storage platforms they used can save them. Any serious things need to be backed-up have to be done offline.
Data breach, email breach, hacks only wait for carelessness and chances to attack us. Be cautious and be careful when you are in crypto and online. Protect your devices, secure your accounts, save your backups.
Topic: Data safety on Centralized exchanges - page 3. (Read 749 times)
You still think that your data is save on Centralized exchanges? Think again, today australian crypto exchange accidentally expose users information, over 270,000 customers data is exposed, what kinda mistake is this anyways?
I mean, yeah it can happen with practically any centralized service out there, not only crypto related.Thats why one wants to use decentralized services and prefer it in every possible way.
Both dex and cex are still having the holes.
Those are not yet perfect but this is not a problem at all.
No one guarantees that our data is in a centralized exchange, or any platform on the internet "SAFE", every platform on the internet must have its own weaknesses, it could be hacked.
Or what is worse could be that the platform owner sells his user data for personal gain.
Or what is worse could be that the platform owner sells his user data for personal gain.
You still think that your data is save on Centralized exchanges? Think again, today australian crypto exchange accidentally expose users information, over 270,000 customers data is exposed, what kinda mistake is this anyways?
https://ia.acs.org.au/article/2020/australian-crypto-exchange-exposes-emails.html
No data is safe when it gets uploaded on the network servers so crypto exchanges are not an exception to this. If you never want to share your personal details on the internet then you shouldn't be using an services which asks for personal details and source of income like details then you can have your privacy to some extent. https://ia.acs.org.au/article/2020/australian-crypto-exchange-exposes-emails.html
You still think that your data is save on Centralized exchanges? Think again, today australian crypto exchange accidentally expose users information, over 270,000 customers data is exposed, what kinda mistake is this anyways?
I mean, yeah it can happen with practically any centralized service out there, not only crypto related.Thats why one wants to use decentralized services and prefer it in every possible way.
You still think that your data is save on Centralized exchanges? Think again, today australian crypto exchange accidentally expose users information, over 270,000 customers data is exposed, what kinda mistake is this anyways?
https://ia.acs.org.au/article/2020/australian-crypto-exchange-exposes-emails.html
As if we have more choices and we have to accept this fact because its happening around the world and not just on cryptomarket. Even facebook made a huge mistake on this one and I’m sure google is also doing the same thing exposing our identity to others, even banks of course so don’t panic and make a less exposure as much as possible. https://ia.acs.org.au/article/2020/australian-crypto-exchange-exposes-emails.html
This is one of the things that we always worry about when doing KYC anywhere, even at local exchanges where they have registered the legality and securities of the data we provide under the law. However, take a look at what the @bitmover:
Whether it's intentional or accidental, isn't it the same if our data is lost or exposed? still, this is related to the loss of our privacy. Meanwhile, in this case, we need privacy and it is unfortunate that the KYC system always endangers its users.
Maybe just with KYC using email without ID or a photo of ourselves, we still have a way to use our backup email. However, if it's KYC with our ID and photo, then this is the dangerous one.
-They can sell your data.
-They can share your data with their partners, who can do anything they want with it.
-They can be hacked, like ledger was.
-They can share your data with their partners, who can do anything they want with it.
-They can be hacked, like ledger was.
Whether it's intentional or accidental, isn't it the same if our data is lost or exposed? still, this is related to the loss of our privacy. Meanwhile, in this case, we need privacy and it is unfortunate that the KYC system always endangers its users.
Maybe just with KYC using email without ID or a photo of ourselves, we still have a way to use our backup email. However, if it's KYC with our ID and photo, then this is the dangerous one.
With every centralized services we're accepting a long list of terms and conditions. Within that everything gets included. Once after getting exposed, if we go for a claim we'll be described about some specific terms created for the arise of such issues. Data safety is important, and in the growing techn world it is possible, but human errors are inevitable. Firms won't do it in purpose, but at times it happens. Quite often we can see this commonly taking place with different networks.
I don`t think really big exchanges have so weak safety level, but sometimes they can`t defend from hackers attacks and many people lose their data. Of course, centralized exchnages are not safe, but I don`t think they don`t have it at all. They always try to improve their protection to avoid hacks, because their reputation depends on it
I think all these exchanges and other organizations should value more of the users' data and secure it by all means. Do we say they don't know what to do or how to go about it?
Thanks to project like https://bluzelle.com helping firms to safeguard their users data using the blockchain technology.
It's high time users data is being given priority to in the context of security!
Thanks to project like https://bluzelle.com helping firms to safeguard their users data using the blockchain technology.
It's high time users data is being given priority to in the context of security!
This is one of the problems we have been facing in a centralized exchange,
We should have realized and think carefully before submitting KYC since every personal information we have submitted online is prone to this issue. This is also the reason why most crypto users prefer to use an exchange without them having to submit KYC before they can activate their withdrawal in an exchange.
We should have realized and think carefully before submitting KYC since every personal information we have submitted online is prone to this issue. This is also the reason why most crypto users prefer to use an exchange without them having to submit KYC before they can activate their withdrawal in an exchange.
Data is not safe anywhere so far its been given out. Whenever I give any data out to any exchange or any where.. I know Its not safe.
Yes because they shared our information into other institution that governing them and requiring them to do so and we should be aware of this one. CEX are working under the rules of the government and if they didn’t comply then they should not operate under that jurisdiction. Just make sure that your account is safe so hackers wont access your account easily, and keep on monitoring your account. 
It's not a must to share your data with centralized exchanges, I'd have advice you to start using DEX but we all know that DEX can't meet up with the advantages of Centralized exchanges, there are few top Centralized exchanges that allows trading and withdrawal with no KYC verifications like binance and huobi, there is only limits per withdrawal in 24hrs and that's cool enough, this is what I do as I can't share my data or use DEX
Despite it's quite possible to use the withdraw margine set for non verified users, it's still not that safe. The can freeze your balance at any time and start asking for KYC (maybe a deep one). Everyone should be responsible for his choice, so either you chose centralised exchanges with real identity or enjoy less features with decentralised exchanges.
You still think that your data is save on Centralized exchanges? Think again, today australian crypto exchange accidentally expose users information, over 270,000 customers data is exposed, what kinda mistake is this anyways?
https://ia.acs.org.au/article/2020/australian-crypto-exchange-exposes-emails.html
The most regrettable incident is that user data is not protected with strict security features such as a very valuable gem, very disappointed that 270k user data has been revealed even though the only name and email but many users will experience fraud caused by phishing and spammers in the email inbox. https://ia.acs.org.au/article/2020/australian-crypto-exchange-exposes-emails.html
We know it's the exchange duty to secure user's data but everyone should note that, this data is safe with a third party, hence anything can happen to your data at any point in time.
It once happened to binance when users kyc data leaked in the year 2019, this isn't the first time we are experiencing data bridge. We should be careful when dealing with a platform that requires users information especially centralized exchanges.
Personally, I have two emails. One I used for non cryptocurrency activities, offline work and the one I used basically for online business, multiple registration on centralized exchanges. This way, if my online email is leaked, I don't bother because I don't do kyc since I'm eligible to withdraw at least 2btc in centralized exchanges.
NB: if you are scared of data bridge, use decentralized exchanges.
It once happened to binance when users kyc data leaked in the year 2019, this isn't the first time we are experiencing data bridge. We should be careful when dealing with a platform that requires users information especially centralized exchanges.
Personally, I have two emails. One I used for non cryptocurrency activities, offline work and the one I used basically for online business, multiple registration on centralized exchanges. This way, if my online email is leaked, I don't bother because I don't do kyc since I'm eligible to withdraw at least 2btc in centralized exchanges.
NB: if you are scared of data bridge, use decentralized exchanges.
Yes, if you can just trade without submitting your KYC, the don't submit any doc. Because a lot of exchanges don't require KYC if you have daily withdrawal below 2-3 btc. So just take advantage of that opportunity, unless, you are a big timer in crypto, wherein you need a high withdrawal limit. And when you are talking about local exchange where you need to convert your crypto to fiat, usually they ask for ID, it is better not to submit your passport but other government IDs. We can never be sure about what will happen to these exchanges, even if they are boasting to have tight security protocols. Hackers are getting sophisticated because of the tools that are available now.
We know it's the exchange duty to secure user's data but everyone should note that, this data is safe with a third party, hence anything can happen to your data at any point in time.
It once happened to binance when users kyc data leaked in the year 2019, this isn't the first time we are experiencing data bridge. We should be careful when dealing with a platform that requires users information especially centralized exchanges.
Personally, I have two emails. One I used for non cryptocurrency activities, offline work and the one I used basically for online business, multiple registration on centralized exchanges. This way, if my online email is leaked, I don't bother because I don't do kyc since I'm eligible to withdraw at least 2btc in centralized exchanges.
NB: if you are scared of data bridge, use decentralized exchanges.
It once happened to binance when users kyc data leaked in the year 2019, this isn't the first time we are experiencing data bridge. We should be careful when dealing with a platform that requires users information especially centralized exchanges.
Personally, I have two emails. One I used for non cryptocurrency activities, offline work and the one I used basically for online business, multiple registration on centralized exchanges. This way, if my online email is leaked, I don't bother because I don't do kyc since I'm eligible to withdraw at least 2btc in centralized exchanges.
NB: if you are scared of data bridge, use decentralized exchanges.
You still think that your data is save on Centralized exchanges? Think again, today australian crypto exchange accidentally expose users information, over 270,000 customers data is exposed, what kinda mistake is this anyways?
https://ia.acs.org.au/article/2020/australian-crypto-exchange-exposes-emails.html
Data breach of such private, sensitive data is highly condemnable and i think the local authorities or regulators in Australia should take strict action against the exchange or atleast warn them to make the data secure or else the exchange will be closed down. https://ia.acs.org.au/article/2020/australian-crypto-exchange-exposes-emails.html
You still think that your data is save on Centralized exchanges? Think again, today australian crypto exchange accidentally expose users information, over 270,000 customers data is exposed, what kinda mistake is this anyways?
https://ia.acs.org.au/article/2020/australian-crypto-exchange-exposes-emails.html
https://ia.acs.org.au/article/2020/australian-crypto-exchange-exposes-emails.html
users or customers need their privacy safe, and this news bring bad news to centralized exchange
by the way, if like this i think 2021 will be the year of decentralized exchange
Data is not safe anywhere so far its been given out. Whenever I give any data out to any exchange or any where.. I know Its not safe.
so I read the news and it's leaked because the exchange uses external service for sending email and the email that was sent unexpectedly sent in batch including all other emails as recipient
Wow its actually crazy how an exchange, thats supposed to be competent in handling data and privacy of its customers do something this dumb lol.
the mistake feels like amateurish and leaked email is nothing to be underestimated since some people could send some phishing email to all these addresses.
Wow its actually crazy how an exchange, thats supposed to be competent in handling data and privacy of its customers do something this dumb lol.
the mistake feels like amateurish and leaked email is nothing to be underestimated since some people could send some phishing email to all these addresses.
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