Topic: EXCHANGE HACKS.WILL IT EVER END? (Read 568 times)
if they are broken, then the cryptocurrency has value. this may end when the exchanges are decentralized, but to be honest, I don't know how it can be
Hacks operations are spreading all over the Internet, and even larger sites are hacked because of security vulnerabilities, so it is difficult and the platform must always be developed
In the last couple of weeks,we have seen a lot big exchanges being hacked, funds stolen and everyone thrown into panic.The last one being Bithumb (https://cointelegraph.com/news/bithumb-details-still-sketchy-after-30-mln-hack). Is there really a permanent solution to this nightmare by hackers?
Do you really believe that those website are vulnerable to hacking they are wasting millions of dollar hiring a team to secure thier websites. Changing codes every week to be able to secure our funds. The reason here are some of the website owner declaire that thier website are hacked to be able to do thier exit.
I hate the exchange that makes the crypto community panic in the move
news about hacking exchange, very annoying, especially korea, which within 5 months, there are 2 exchange from korea hacked,
in fact they are annoying
news about hacking exchange, very annoying, especially korea, which within 5 months, there are 2 exchange from korea hacked,
in fact they are annoying
In my opinion exchange hacks will not end because there are people that not contented by their income they want to cheat to add to their income.
ther have been several hacks on exchanges in the recent past and millions of dollars in crypto have been lost, this has further deeped the safety of crypto investment into further doubts,I however believe that these hacks just dont bring the bad,as the hackers continue to succeed, the more the exchange developers are challenged to make come up with hackproofe codes to protect the exchange wallets. The hacks acn just be a stepping stone to future success in creating safer exchange wallets
I don't think it will ever stop, its juat like saying and stating that when will fraud or money or internet hackers ever going to stop in the internet. Its interesting to know that some exchange hacks that might be going on are most times, are intelligent games played by the Exchange owners to their users. To stay on a better side, do not leave your funds in any exchange for too long to prevent you from lossing your funds.
As the popularity of bitcoin increases, the price becomes more fantastic, so the crime mode is also higher, one of which is the hacking case. Some people want to cheat to get big profits instantly, regardless of the loss of others. But, that's a risk to be faced, quite difficult to find and hold hackers who work neatly, so in anticipation, we must be good at keeping the assets we have. The case of bithumb hacking is enough that we should not keep all your assets in the wallet exchange. Use a separate wallet, and use only wallet exchange when trading.
In the last couple of weeks,we have seen a lot big exchanges being hacked, funds stolen and everyone thrown into panic.The last one being Bithumb (https://cointelegraph.com/news/bithumb-details-still-sketchy-after-30-mln-hack). Is there really a permanent solution to this nightmare by hackers?
Yes, now this is a very big problem and the exchanges need to take care of their safety. I think that all exchanges will soon fix this problem
In the last couple of weeks,we have seen a lot big exchanges being hacked, funds stolen and everyone thrown into panic.The last one being Bithumb (https://cointelegraph.com/news/bithumb-details-still-sketchy-after-30-mln-hack). Is there really a permanent solution to this nightmare by hackers?
Yes, now this is a very big problem and the exchanges need to take care of their safety. I think that all exchanges will soon fix this problem
Some exchanges don't take matters of security as a priority at all. If we keep thinking about volume and liquidity alone we'd continue to have some of these bad news periodically. Exchanges must put customers' interests first by ensuring maximum protection of their funds.
As long as centralized exchanges exist, nope. Even some "decentralized exchanges" with some centralized mechanism won't escape being hacked. We need to by all means encourage real Decentralized exchanges to enjoy the full benefit of Cryptocurrency
No, there can only be a remedy to minimize the occurrences. these can include, looking into decentralized exchanges. The biggest difference between centralized exchanges (like Coinbase, Kraken and Bitfinex) and decentralized exchanges is that decentralized exchanges do not hold users' funds. No one can ever access your funds other than you. So it can't be stolen unless your private keys are compromised. Strong password. Make sure to set a really hard and long password, and you are the only one to access it from a piece of paper that you control.
In the last couple of weeks,we have seen a lot big exchanges being hacked, funds stolen and everyone thrown into panic.The last one being Bithumb (https://cointelegraph.com/news/bithumb-details-still-sketchy-after-30-mln-hack). Is there really a permanent solution to this nightmare by hackers?
As long as the security is soft and the target is ripe for the taking I doubt it's ever going to stop. Exchange hacks have been an absolute constant for as long back as I can remember back in 2011 with Mt. Gox causing the first Bitcoin crash from $32 back down to $2. Bitcoin is just a dream for hackers given the nature of how it works.
There is a way to put an end to exchange hacks where to keep your coins under control which is not possible with centralized exchanges . it is only possible own your private key with decentralized exchange only like tidex (wave platform) the problem face decentralized exchanges is low volume .
No, it will not end soon, like bank robbery, you can lower it as much as possible but you will find always some people trying to figure a way to steal from it.
Exchanges need to enhance its security level and customers need to move always their earning to cold wallets
Yeah, there really is no way to stop exchanges from getting hacked. If it were easy to stop hacks, then they would have stopped already. One thing to also remember is it is hard to prove that an exchange that gets "hacked" isn't just an inside job. How hard is it for someone in the company to steal funds? Or even then, its really easy for the owner of the exchanges themselves to steal from customers and then claim it was a hack. Exchanges need to enhance its security level and customers need to move always their earning to cold wallets
Inside hack is the first possibility that any policeman will look on it. Mt gox, is the best known example, at least until Karpeles proved to be innocent.
in my opinion there is no solutions about that and hackers will always be targeting big exchange to get free money and i think in the future possibility to see new exchange got hack again will pretty high and the problem currently is how to avoid panic after hack issue because it's necessary to keep the price not fall more deep again
Some hacks are staged. Exchange owners collaborate with criminals or are the criminals themselves.
Don't trust the tears and whining of the exchanges if again some mysterious hack happened.
Don't trust the tears and whining of the exchanges if again some mysterious hack happened.
Yeah. I heard that it was about $31 million. https://btcmanager.com/32502-2/
What a huge loss! I think it never ends until the security is improved. These hackers are really genius and we cannot blame or judge them anything about their jobs.
What a huge loss! I think it never ends until the security is improved. These hackers are really genius and we cannot blame or judge them anything about their jobs.
If that was a terrible problem, the exchange houses solution with a lot of security and cold wallets that are not connected to the Internet impossible to hack and anti tracking coins like those of the tor platform so they can not be hacked but I know that there is some world that will solve this problem in a short time
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