hackers becoming smarter than exchanges? - page 3.

Vaskiy

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Quote from: Dread Pirate Roberts on July 22, 2019, 01:01:27 PM

Quote from: ningo on July 12, 2018, 06:24:31 AM

Well most of us here are already aware of the hacking activities of binance and bancor.They are taking practical measures to track down the culprits but the question on my mind is why could coincidentally both exchanges be hacked?Now it appears that the exchanges are not moving at a faster and innovative ways to upgrading their systems and allow these hackers time to study their systems well,identify the loop holes and cause the problem.In my opinion, exchanges should always move in an unpredictable way so as to always confuse these scammers .The scammers are scaring new investors away and this must stop.Exchanges must be up and doing so that we can attract new investors into cryptocurrency else our efforts are going in vain to attracting new investors.

In a security system there must be a gap that is very guarded by the system. all depends on the security of the website and the people behind of the website. there is Many reputable exchange cases have to ended horribly and claimed the company was hacked and the coin was lost. if we remember the past like mtgox and other exchange that are trusted exchange at that time. but the possibility of vulnerability of stil systems exist these days. so this why i just believe with my own wallet . im just using exchange for Exchange to real money, not as my wallet to saving money there.

Already several horrible incidents have took place when the price of bitcoin was very low compared to the present. When something gets more value automatically the focus of the innovative people will turn towards the same and keep on learning to acquire it. Some does it in the right way while some try the back door. Everywhere everything can't be perfect, exchanges too have loopholes and the same is being used by the hackers. This is endless however secure we keep the funds.

Sirait

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right, everyday hackers get smarter and innovate. so for the security of exchange accounts, we should use many security doors, such as email verification, google authenticator verification, short message verification and use metamask (if needed). at this time you should not use an exchanger that does not provide this security door feature because the chances of getting hacked are huge.

Dread Pirate Roberts

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Quote from: ningo on July 12, 2018, 06:24:31 AM

Well most of us here are already aware of the hacking activities of binance and bancor.They are taking practical measures to track down the culprits but the question on my mind is why could coincidentally both exchanges be hacked?Now it appears that the exchanges are not moving at a faster and innovative ways to upgrading their systems and allow these hackers time to study their systems well,identify the loop holes and cause the problem.In my opinion, exchanges should always move in an unpredictable way so as to always confuse these scammers .The scammers are scaring new investors away and this must stop.Exchanges must be up and doing so that we can attract new investors into cryptocurrency else our efforts are going in vain to attracting new investors.

In a security system there must be a gap that is very guarded by the system. all depends on the security of the website and the people behind of the website. there is Many reputable exchange cases have to ended horribly and claimed the company was hacked and the coin was lost. if we remember the past like mtgox and other exchange that are trusted exchange at that time. but the possibility of vulnerability of stil systems exist these days. so this why i just believe with my own wallet . im just using exchange for Exchange to real money, not as my wallet to saving money there.

Moshaid

copper member

Activity: 546

Merit: 1

One thing I keep saying is that no matter how small a user fund could be, he/she should not keep it on exchange for a long time. No exchange in the crypto space can guarantee 100% maximum security, everything on this space is prone to hacking which is one of the reason why users must store their funds in a decentralized wallet or an hardware wallets which are simply the safest.

MTL4

newbie

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Reminds me of the old saying "Best way to rob a bank is to own one!"

Wolfwar

member

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No need to leave large amounts of their funds in the accounts of the exchange. This is said everywhere and always. No need to violate these rules, so you do not regret.

Rishblitz

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All the smart HACKERS will do any various things ways to steal, We just have to beleve in the security of the exchanges, exchanges needs to strengthened their security to prevent the hackers, Hackers keep incriasing and evolving so we have to.

iv4n

legendary

Activity: 3332

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Evolution is the right word here, you will either make progress and develop yourself and your skills or you will be outperformed by someone or something else. It was like that and that will be like that in the future, do not doubt in that. Hackers will exploit any kind of weakness exchange has, it`s what they do, it`s on exchanges to try to stop them.

Carreuh

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Whatever hackers can do, no matter how secure the security of an exchange they are, hackers have a loophole to hack it, either in the near future or long, and the hacking precepts that occur against binance may have been their way of knowing how they are far away far away so they can hack it

xSkylarx

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Quote from: Tigerw on June 27, 2019, 04:51:40 PM

if someone keeps their money on the stock exchange, then this is a stupid person. Of course, traders always have open orders, but they almost always provide control over their funds.

It's ok if he is trading daily. What a stupid person is someone that doesn't secure his account well. If you know that you have a huge amount of money on that platform, obviously you will do all possible countermeasures to secure your account. Enabling all its security authentication to prevent hackers from hacking your account easily.

Krislaw

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Quote from: Tigerw on June 27, 2019, 04:51:40 PM

if someone keeps their money on the stock exchange, then this is a stupid person. Of course, traders always have open orders, but they almost always provide control over their funds.

For that reason, if someone keep crypto on exchange for fast selling when high price, thi is a short time to getting profit like a daily trader. if for long term she/he will keep it on own wallet.

hahay

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Hackers have many ways to carry out the action, so even though an exchange claims they are safe but still hackers have many ways to create systems that can damage security. so far there have been several hacked exchanges and I'm sure this incident has made exchange developers continue to study them to have a better way of security systems that they keep updating so that the steps will at least make hackers more complicated to break the security system on an exchange.

adzino

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Hackers are always one step ahead of us. Why don't you outsmart them? Just don't store your coins unnecessarily in an exchange wallet. If you have to trade or exchange your coins, then make a quick exchange and just remove those coins from there. No matter how much they say that they are very secure, they are always vulnerable to hacks. Also, try to secure your account by using extra layer of security such as 2FA.

Tigerw

member

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if someone keeps their money on the stock exchange, then this is a stupid person. Of course, traders always have open orders, but they almost always provide control over their funds.

googol.star

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Quote from: Nhebu on June 26, 2019, 05:53:40 AM

This is not new, hackers are also opportunist. They are much like a magnet attracted to metal (money). However, companies and end-users aren't doing what they need to defend themselves. Do you think there's a conspiracy about this? As the old cliche goes by, an enemy will get close information to his enemy and they use it as an asset.

The best thing to do is to stay clear from the enemy. In this case by keeping your money out of the exchanges and in a secure computer.

Akoldi_ibk

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Hackers are not being smart, they are just pure definition of what wickedness is. I understand these guys are good and can be excellent in hacking, but doing so and cutting away with people's funds is no more act of smartness from my perspective. Instead it is pure fraud and scam. They explore the system vulnerability with the sole purpose of theft and fraud rendering the system imperfect in the process. I think exchanges need to upgrade their system on daily basis and be yards ahead of the hackers.

whirlcoin

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Quote from: ningo on July 12, 2018, 06:24:31 AM

Well most of us here are already aware of the hacking activities of binance and bancor.They are taking practical measures to track down the culprits but the question on my mind is why could coincidentally both exchanges be hacked?Now it appears that the exchanges are not moving at a faster and innovative ways to upgrading their systems and allow these hackers time to study their systems well,identify the loop holes and cause the problem.In my opinion, exchanges should always move in an unpredictable way so as to always confuse these scammers .The scammers are scaring new investors away and this must stop.Exchanges must be up and doing so that we can attract new investors into cryptocurrency else our efforts are going in vain to attracting new investors.

whenever they are doing something to hack anything the technology is also developed so that the people mind set is more on go with the safe and security for their first priority so that it will be not so easy for them to hack anything.

eaLiTy

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Quote from: Janation on June 22, 2019, 11:56:14 PM

Exchanges have their systems and they need good securities since they will be holding a lot of money and cryptocurrencies but these hackers are so smart that they can bypass these securities despite the fact that they are just so close to being impregnable. That is the reason some companies hire hackers to develop their securities, hackers can counter hackers and there are kind of hackers.

The crypto exchanges and their security are not up to the mark when you compare the the rest of the financial exchanges, rarely do you hear a hack in the stock exchange, the reason is that they take the security seriously and make sure no one can compromise it and there are other securities and bonds involved if your money is lost through the hack if it is not your fault, but in this space every year you will hear multiple exchanges being hacked and so on and there is no way you can trust any exchanges with your coins.

MidnightWolf

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Even the top-rated trading market, Binance, was also hit by hackers. There is a very serious vulnerability for all users of cryptocurrency, because we do not control the protection of our funds. If my cryptocurrency is on wallets, then there I am responsible for my property. And if my cryptocurrency is on the profile of a certain stock exchange, then the stock exchange is liable here. Perhaps there is a definite connection between the administration of trading exchanges and hackers.

Alijiindahaus

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I think that each of us should understand why all this is happening. The fact is that hackers are not only aiming to steal money from users. It seems to me that in this way they show the vulnerability of the system with which cryptocurrency users deal with and give away their assets, thinking that they will be safe. I do not condone hackers, but we must resist such a tendency hacked and make everything inaccessible to thieves.

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