hackers becoming smarter than exchanges?

andriarto

sr. member

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Quote from: AjithBtc on September 01, 2019, 01:23:05 PM

If there is no hackers we could've never reached such a level of growth in the information technology industry. They are the key who serve as the key factor for development of more new features and several updates. As a lot of money flow happens with cryptocurrency exchanges, now they keep their focus over cryptocurrencies. This too good for development of exchanges with good security features that will not allow someone to breach into our accounts.

I think the development of security technology is always developing, for the sake of increasing security. on the other hand hackers also continue to study these developments. I think both parties are equally clever, it's just that hackers take advantage of carelessness so they can enter the account exchanger.
besides that with many hackers attacking and they have their respective expertise, then the possibility of hacking will continue to exist

jsizar

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There are more and more legacy (and not so legacy) code and more and more money. Important reasons to make exchanges good target

Moiyah

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The moment they enter the exchange means they have high kbowledge and smarter than exchanges. They know how to detach the securrd system. Sometimes, I am being paranoid that hackers of some exchanges are the their workers inside the company, too. But well, that's just only my thoughr and no proof of it. However, we can't prevent to think it that way.

wildey

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Quote from: Kasabus on August 22, 2019, 06:12:19 AM

Quote from: spike420211 on August 21, 2019, 09:09:56 AM

Sometimes it is not always possible to see in advance all the vulnerabilities in your system. You offer exchanges to act more unpredictably, but with every new update of this type there is a risk that a new vulnerability will appear in the security system. At the same time, it’s much easier to get rid of vulnerabilities that are revealed after a hacker attack.

No exchange could guarantee that they are a hack proof site, vulnerability is always their and smart hackers can find it.
That is why it's necessary for them to focus on the security of the exchange as once it's breach, their reputation will be affected and that could be the reason for them to loss their business. Binance was just lucky to have a SAFU funds, but if they'll not improve, next hack might be bigger that could possibly result to a close shop.

absolutely right, everyday technology is always developing, and they learn quickly to find damage from it. Well, if the exchanger doesn't update their security system with the latest system, I'm sure that will open the opportunity for hackers to penetrate it. however, we need to know that there are no safe exchangers. I do not know the ability of hackers, however, I think they are always learning new systems.

Jorge158

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Hackers are not becoming smarter than the exchanges. Exchange sites are always under attacks yet these exchanges prove to be extra mile ahead of the attackers. This is not flatter the exchanges but to commend and encourage them to keep the hard work in protecting the funds of investors, traders and holders.

DmitFomin

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BTC $1 mln.

It's hard to say who is smarter and more professional, but that there is a constant confrontation between the exchange team and hackers. We do not see this confrontation and only sometimes find out if some hacker managed to steal the funds of the exchange. Technologies are developing, everything is improving, so this is a completely normal situation, but I would not say that hackers are smarter.

AjithBtc

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If there is no hackers we could've never reached such a level of growth in the information technology industry. They are the key who serve as the key factor for development of more new features and several updates. As a lot of money flow happens with cryptocurrency exchanges, now they keep their focus over cryptocurrencies. This too good for development of exchanges with good security features that will not allow someone to breach into our accounts.

Rustamm

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The confrontation between hackers and exchanges will always exist, because exchanges have money and hackers prey on everything where they can make a profit. But it can hardly be said that hackers are smarter than exchanges, because some exchanges hire hackers who help test the security system of the exchange in order to help the team identify vulnerabilities and eliminate the possibility of hacking.

Nazmul012

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Basically it might have three reasons.
First One
The technology they are using is not enough strong for security. Furthermore There will always have some bags, which works as Main gate for hackers. So it can be said that hackers Are becoming more smarter then Exchanges. That's why exchanges should have to update their technology daily so that to prevent hackers from hacking
Second One
The second and the most important reason that I think is,, They Stole money from there own exchanges and they're pretending as like exchanges are hacked. Because There is no strong evidence that exchanges were hacked by hackers
Third One
Maybe their officials are involved with those hacking incidents.

randyboy

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Merit: 10

I should think about it, is Exchange are becoming smarter right now. why? exchange is our way to trade our funds with crypto and exchange does not do a lot of improvements to prevent hack system and instead they will just let the news spread all over site that their lost its own security. I might think that why exchanges let that happen...? that's why now its too difficult to trust even you use top list exchange.

juliepower

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I also think so...and it is becoming more regular than before as even i have got mails from exchnages that successfull login from different locations around the world...so it means some one else accessed my account...
But i never had any amount in exchanges so i never worried that much about that

samputin

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Quote from: Schirer on August 22, 2019, 05:35:31 AM

This is a classical game of mouse and cat.
The cybersecurity problems are not just limited to crypto exchanges. A lot of institutions are hacked , also very high class government institutions. It is not that exchanges are not thinking of their security but the hackers constantly find new ways to exploit some holes in their security.

That is true. That's why, consistent development on their security systems is a must. We now know that hackers also grow smarter as time goes by but that should be taken as a challenge to also evolve and grow smarter than they are and create a stronger and more improved security. This is a wake up call, not just to those huge companies with looming amount of money stored, but also to us simple individuals to be very cautious with everything and everyone so that our security will not be compromised.

Jating

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Quote from: Kasabus on August 22, 2019, 06:12:19 AM

Quote from: spike420211 on August 21, 2019, 09:09:56 AM

Sometimes it is not always possible to see in advance all the vulnerabilities in your system. You offer exchanges to act more unpredictably, but with every new update of this type there is a risk that a new vulnerability will appear in the security system. At the same time, it’s much easier to get rid of vulnerabilities that are revealed after a hacker attack.

No exchange could guarantee that they are a hack proof site, vulnerability is always their and smart hackers can find it.
That is why it's necessary for them to focus on the security of the exchange as once it's breach, their reputation will be affected and that could be the reason for them to loss their business. Binance was just lucky to have a SAFU funds, but if they'll not improve, next hack might be bigger that could possibly result to a close shop.

This is business that involves a lot of money, cash flowing in and out just like in a traditional based casino. The only difference is that when you are inside the casino floor, there's no way that some criminal can steal money from you. On the other hand, when you play inside a trading platform, theres a lot of ways that you can loss your money.

Service providers need to give us protection when we are inside their platform, simply as that. Hire competent people (inside job), or at train them to the latest technology and cyber security prevention. Although there is SAFU, but that should be only plan B. Plan A should be the protection of their customer.

Kasabus

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Quote from: spike420211 on August 21, 2019, 09:09:56 AM

Sometimes it is not always possible to see in advance all the vulnerabilities in your system. You offer exchanges to act more unpredictably, but with every new update of this type there is a risk that a new vulnerability will appear in the security system. At the same time, it’s much easier to get rid of vulnerabilities that are revealed after a hacker attack.

No exchange could guarantee that they are a hack proof site, vulnerability is always their and smart hackers can find it.
That is why it's necessary for them to focus on the security of the exchange as once it's breach, their reputation will be affected and that could be the reason for them to loss their business. Binance was just lucky to have a SAFU funds, but if they'll not improve, next hack might be bigger that could possibly result to a close shop.

bitbunnny

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Quote from: Pab on August 21, 2019, 10:11:35 AM

Hackers are getting smarter than exchanges and also smarter than big companies secured by best possible security systems
I think that people was already able to learn to not leave his funds on exchanges
There was thread on bitcoingarden forum Cmentarny of exchanges.Biggest and small ones
There is hard to find exchange what never experiencing hacking in his history
Other thing is self hack and oh sorry out exchange was hacked goodbye

I don't think that hackers are smarter but exchanges just don't care enough for security and don't invest enough to prevent attacks. And hackers will find every vulnerability they can use. They are always step ahead and cybersecurity is still something that people are not aware enough
But I guess that exchanges have estimated that potential loss is still cheaper for them than investment in security features.

Schirer

member

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This is a classical game of mouse and cat.
The cybersecurity problems are not just limited to crypto exchanges. A lot of institutions are hacked , also very high class government institutions. It is not that exchanges are not thinking of their security but the hackers constantly find new ways to exploit some holes in their security.

Chrystora123

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Activity: 1414

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Omicron is another FUD

lone hackers and group hackers always try to find fault loopholes from all exchanges, and their main target is large exchangers who have large daily transaction rates. many tricks they tried, ranging from phishing sites, fake e-mails and utilizing BUG loopholes.

Quote from: kumala_abi on August 21, 2019, 10:02:55 AM

bug or vurnerability will always occur when exchanges upgrade their system.there is no perfect system , and hackers always trying to find its bug or vuln and exploit this weekness to their own advantages by stealing wallet.exchanges team must do something to prevent accidents again to their security system so there is no investors harmed with this accident.

absolutely right, BUG is a gap that is always exploited by HACKER, this is the reason why bug hunters are needed in testing the security level of a site because just one mistake can make developer exchange a big loss especially from user trust.

Pab

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Activity: 1862

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Hackers are getting smarter than exchanges and also smarter than big companies secured by best possible security systems
I think that people was already able to learn to not leave his funds on exchanges
There was thread on bitcoingarden forum Cmentarny of exchanges.Biggest and small ones
There is hard to find exchange what never experiencing hacking in his history
Other thing is self hack and oh sorry out exchange was hacked goodbye

kumala_abi

sr. member

Activity: 798

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Quote from: spike420211 on August 21, 2019, 09:09:56 AM

Sometimes it is not always possible to see in advance all the vulnerabilities in your system. You offer exchanges to act more unpredictably, but with every new update of this type there is a risk that a new vulnerability will appear in the security system. At the same time, it’s much easier to get rid of vulnerabilities that are revealed after a hacker attack.

bug or vurnerability will always occur when exchanges upgrade their system.there is no perfect system , and hackers always trying to find its bug or vuln and exploit this weekness to their own advantages by stealing wallet.exchanges team must do something to prevent accidents again to their security system so there is no investors harmed with this accident.

spike420211

sr. member

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Sometimes it is not always possible to see in advance all the vulnerabilities in your system. You offer exchanges to act more unpredictably, but with every new update of this type there is a risk that a new vulnerability will appear in the security system. At the same time, it’s much easier to get rid of vulnerabilities that are revealed after a hacker attack.

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