Hackers Just Had A Field Day on Nuls. $480k Worth Token Stolen

wxa7115

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Quote from: Baby Dragon on January 08, 2020, 09:32:34 AM

Quote from: wxa7115 on January 06, 2020, 02:32:50 PM

Quote from: #Darren on January 02, 2020, 03:53:14 PM

Somebody got a very expensive new year present for such money. It is not even funny anymore, that every single day, there is a new thread on Bitcointalk about some new scam project that seemed to function well.

What happens is that most people have the thought nothing bad is ever going to happen to them and they never take the right precautions to protect their coins or they invest in coins that they believe may be worth a lot of money in the future not thinking they could make a mistake, basically they only think in the positive results they can get but never in the negative ones.

And when they finally realize they have made a mistake it is too late to do anything about it, it is getting old that almost every day we have news like this but it is inevitable until people decide to take better care of their security and their money online.

It's the reason why they have to change their mindsets because they will only feel remorse at the end if they keep thinking that way particularly knowing that hackers are capable on doing anything for the sake of money. They will always look for opportunity to take advantage of you so they can get the benefits they wanted that's why we can't assure ourselves that our funds are safe and secured. They don't analyze the possibilities that's most of them end up losing their own money, they don't realize that a single mistake can make a huge impact on their lives.

And the most incredible part is that it doesn't really take that long to secure your coins and it is not really that difficult either, the only thing that you need to do is to install a secure operative system in your computer that is not full of backdoors and viruses, then you need to install a wallet there and verify that the wallet comes from the original sources, then deposit your coins in your wallet and finally to not use that computer to install software that may be infected with some kind of virus.

If you do that then the chances that you are going to lose your coins are very close to zero but people are too lazy to do all of that.

Baby Dragon

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Quote from: wxa7115 on January 06, 2020, 02:32:50 PM

Quote from: #Darren on January 02, 2020, 03:53:14 PM

Somebody got a very expensive new year present for such money. It is not even funny anymore, that every single day, there is a new thread on Bitcointalk about some new scam project that seemed to function well.

What happens is that most people have the thought nothing bad is ever going to happen to them and they never take the right precautions to protect their coins or they invest in coins that they believe may be worth a lot of money in the future not thinking they could make a mistake, basically they only think in the positive results they can get but never in the negative ones.

And when they finally realize they have made a mistake it is too late to do anything about it, it is getting old that almost every day we have news like this but it is inevitable until people decide to take better care of their security and their money online.

It's the reason why they have to change their mindsets because they will only feel remorse at the end if they keep thinking that way particularly knowing that hackers are capable on doing anything for the sake of money. They will always look for opportunity to take advantage of you so they can get the benefits they wanted that's why we can't assure ourselves that our funds are safe and secured. They don't analyze the possibilities that's most of them end up losing their own money, they don't realize that a single mistake can make a huge impact on their lives.

wxa7115

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Activity: 2702

Merit: 704

Quote from: #Darren on January 02, 2020, 03:53:14 PM

Somebody got a very expensive new year present for such money. It is not even funny anymore, that every single day, there is a new thread on Bitcointalk about some new scam project that seemed to function well.

What happens is that most people have the thought nothing bad is ever going to happen to them and they never take the right precautions to protect their coins or they invest in coins that they believe may be worth a lot of money in the future not thinking they could make a mistake, basically they only think in the positive results they can get but never in the negative ones.

And when they finally realize they have made a mistake it is too late to do anything about it, it is getting old that almost every day we have news like this but it is inevitable until people decide to take better care of their security and their money online.

SolarWindMiningCompany

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Quote from: Flux0z on January 02, 2020, 03:26:19 PM

Crazy how many hacks we've seen lately. Guess why? Centralization!

This is why I stay away from ERC20 tokens in general, these premined projects is not worth the risk IMHO.

I'd much rather accumulate a project like Blocknet, who's one of the most decentralized projects I know off. Not only is their oracle solution (Xrouter) decentralized in the way it's running (through service nodes), but their DEX itsef is the only real DEX on the market, despite all the wannabe projects claiming to be "decentralized", when really, they are not. Roll Eyes

I have got a lot of applauds for blocknet too. Its architecture is totally decentralized and represents the true nature of crypto. We can't really overemphasised the need for a decentralized crypto market irrespective of the fact that the incessant hacks might negate my claim. While hacks can't be totally eliminated, I think the security structures of the exchanges and crypto platforms are constantly breached because of the lazy attitudes of the platforms towards development and improvement. I mean, Hackers improve their tech and relearn daily, why areemt most crypto exchanges or platforms doing that.

#Darren

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Somebody got a very expensive new year present for such money. It is not even funny anymore, that every single day, there is a new thread on Bitcointalk about some new scam project that seemed to function well.

Flux0z

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Crazy how many hacks we've seen lately. Guess why? Centralization!

This is why I stay away from ERC20 tokens in general, these premined projects is not worth the risk IMHO.

I'd much rather accumulate a project like Blocknet, who's one of the most decentralized projects I know off. Not only is their oracle solution (Xrouter) decentralized in the way it's running (through service nodes), but their DEX itsef is the only real DEX on the market, despite all the wannabe projects claiming to be "decentralized", when really, they are not. Roll Eyes

wxa7115

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Quote from: xZork on December 29, 2019, 11:44:13 PM

The fight against hackers will be a long and very difficult one. Every time we upgrade security, hackers take it to the next level.
Perhaps the best way to combat hackers at this point is to always increase security.

No system will ever be 100% secure, there are always weaknesses that can be exploited by those that have the resources and the intelligence to figure out how to take your money away, however this is not a reason to give up and accept defeat, increase your security as much as you can and never reveal the amount of coins you are holding if you do those simple two steps most hackers will ignore you since they will not know how much coins you are holding and it will simply not worth the effort to try to hack you.

But you need to always be vigilant because you only need to make one mistake for hackers to get your coins and never see them again.

airdnasxela

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What a bad experience to end the year. They also have a fault for not securing their system very well. Although hacking is really unstoppable in the internet. If this cannot be prevented, maybe in the future this will become one of our major threat in crypto.

Quote from: xZork on December 29, 2019, 11:44:13 PM

The fight against hackers will be a long and very difficult one. Every time we upgrade security, hackers take it to the next level.
Perhaps the best way to combat hackers at this point is to always increase security.

I don't know if this can be stopped. If there are smart people to upgrade their security, their will always be smart people who can still hack it.

Golftech

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Quote from: Ranly123 on December 31, 2019, 07:25:37 AM

Hackers usually moves ahead of the security that's why I can say that there is no way hackers can be stopped. Though there are instances that solution to hacks is achieved but it's only temporary and still hackers find ways to do their crime.

Hackers keep studying over and over so there's no sense to say that you can be free from their site once you have good protection. You always need to keep improving so countering attempts will keep succeeding. Developers have the responsibilities as they needed not to stop keeping their tokens safe by stricking policies for their securities.

Ranly123

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Hackers usually moves ahead of the security that's why I can say that there is no way hackers can be stopped. Though there are instances that solution to hacks is achieved but it's only temporary and still hackers find ways to do their crime.

justdimin

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Hackers will always find a way to hack exchanges, I mean we are talking about hackers here, that is what their job is and it is impossible to stop them, you can only hope they get away with as little as possible.

Even binance lost millions of dollars since it started due to hackers and we are now used to it, hell binance just paid from their pockets and moved on because that was easier. We just have to let hackers be hackers and steal money if they can and not focus on that, if we keep focusing on that all we can do is improve the laws against hacking (which they don't care) and improve the security to websites (which they will work harder and still hack) all of which is useless against a dedicated talented hacker. This wasn't the first time a hacker stole money and it won't be the last.

Xcode7

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Quote from: nanaimogold on December 23, 2019, 10:28:25 AM

Blockchain platform Nuls has lost almost $480,000 worth of NULS tokens due to a hack, according to a security update tweeted on Dec. 22.

In its tweet, Nuls said it had detected that 2 million tokens had been transferred, of which 548,354 tokens — worth roughly $131, 600 — had entered the trading market and were now untraceable.

https://cointelegraph.com/news/hackers-grab-nearly-480k-from-blockchain-platform-nuls?utm_source=Telegram&utm_medium=social

Will there be a remedy for the incessant hacks in 2020?

This is the umpteenth time, when a sophisticated defense system, the hacker also develops and adapts to that sophistication. It is undeniable that this will continue to happen, and what is astounding is the $ 480,000 token should just disappear. And of course you need a high level of intelligence to hack the blockchain.

nanaimogold

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Quote from: JeffBrad12 on December 23, 2019, 06:40:12 PM

These hacks are getting out of hand simply because all these project and also exchanges seem to less invested into the security side. they need to realize that it's crypto and one security hole could lead to the destruction of their token. I just baffled to see that they seem to never learn about anything even if the hacking always occured. more hackers are targetting crypto because it's all vulnerable money and people need to put their concern and put security as highest priority.

You can't be any wrong on this at all because if these exchanges spend extra cash on bug hunting on monthly basis, I am sure a lot of vulnerabilities these hackers swoop on to their advantage would have been discovered on time and as well corrected

VanDeinsberg12

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Quote from: jcarlo on December 24, 2019, 07:53:55 AM

Quote from: asus09 on December 24, 2019, 06:40:19 AM

Why very easy for platform on crypto hacked? last month Upbit exchange market hacked with many eth in their account today we got bad news with Nuls hacker and lost about $480k worth token stolen, why not many platform in crypto upgrade their security system and make bounty bug for their exchange to make is very safety later, why always happen the same hacked in crypto.

Hopefully there is a solution for events like this, investor losses can be compensated. Hacking attempts will always be there and I hope there is an increase in security so that hacking does not continue to recur.

that comes from the nuls wallet and that means if investors are not loosing anything but the team is a part who has been getting a loss caused by this case. The developer is believing if the platform that has already created by them is perfect and that's why those developers are not updating their platforms regularly.
This is the problem when it comes to the security. The major companies spent a lot of money for the security improvements. this is a very important part.

yazher

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That's how fast hackers unanimously hide the stolen coins. This is not just some simple hacks, it took them some months or years to finalize their plan and on that day, they finally begin their mission. which will lead of course to some doubt regarding the investment in the crypto industry. This will make some newbie investors to further study the security on how to protect their crypto assets and some other to quit the crypto industry.

Spaffin

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Quote from: ?? on ??

With high security increase then the hacking will be maintained although this has not guaranteed 100% because the hackers are always looking for a gap to penetrate the target they want, especially in the crypto world is certainly a lot of hackers who want to Hack every existing coin market, because there they can easily eliminate the track of hacking they do, in this case they can only monitor as much detail as possible in order to safeguard the assets they have.

If some information or the database of the server or computer has a permanent Internet connection, then here the chance for any character is already increasing. The safest way to save information is something like a cold cryptocurrency vault (eg: Ledger Nano) and even in this case it is very difficult to give a 100% guarantee, because in this case a cold wallet can be stolen not by a hacker, but by someone else. That is why a serious company has a security service that constantly monitors its systems, changes the password, access codes, and so on, to reduce the risks of hacking.

pikkie

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this can be said to be a risk when you are trading or investing in cryptocurrency and the government or police cannot help deal with this, they only help to imprisonment while these theft cases often occur and often make the cryptocurrency name worse because of many cases of hacking like this.

nicolas1979

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This is really bad and hacker make people afraid to invest/ trading in crypto world. I believe government already has cyber crime to handle this problem, we only need to make report into police station and let them work. Not easy step and maybe we only wait for nothing. Government is the only answer we have, they have resources to make safety for their citizen. Keep trying to find best method for our safety asset and never make transaction with stranger, that's not recommended at all.

murat131

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Too many hacks were in this year

Kasabus

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That's something they have to look unto, they are lucky it's not a big amount and we can really tell that this kind of incident is not quite new to the crypto already, this news is bad but there's worse than this in the past so they have to continue improving their security to prevent this from happening again.

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