Hackers Just Had A Field Day on Nuls. $480k Worth Token Stolen - page 2.

coin-investor

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Quote from: nanaimogold on December 23, 2019, 09:28:25 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 has been the biggest issue this 2019 and it will continue to happen this 2020, it's now up to investors to only trust exchange that can beef up their technology to the highest possible level, and those who can guaranty their trader's account and funds, and as long as there are hacking attempts Cryptocurrency will not progress and adoption will not move fast.

xZork

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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.

wxa7115

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Quote from: btc_angela on December 23, 2019, 06:31:31 PM

Damn, we're almost at the end of the year but hackers are continuing their misdeeds but stealing almost half a million here. I guess everyone, including the devs, should look at their code so that there will be no exploits whatsoever so that they can prevent this happening in the future. They should do a test first on their code, before releasing it because hackers are always one step of the game and we don't want to hear this kind of news, specially at the end of the year.

Well they are hackers and if the documentaries I have seen about them are any indication this is the moment of the year in which they are the most busy since people are using all forms of electronic forms of payment and they want to take advantage of that.

You are right when you say the developers should take better care of their code and their first priority should be to look for vulnerabilities on their code, but we are assuming they actually care for their project and for their investors something we know is not true in the majority of the cases.

Amel

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There will be no remedy as long as we uphold this decentralized system, hackers will continue to develop utilizing the freedom and anonymous nature of this system. The only way out is to always update the system of every coin developed, only that is the step to prevent it because hackers will always look for and find loopholes. Even though in a centralized system, it is still able to hack but at least it can be traced and not for here.

pgbit

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Yet another hack incident to add to the list of hack cases in 2019, this year has been an awesome one for hackers and a bad one for investors, the two major exchanges that were hacked refunded their users the tokens they lost but these individual project hacks is usually the most devastating because the hackers would dump the token price in most cases and it would take a lot of time for the price to recover, if it ever does.

aardvark15

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The problem is that centralized exchanges are vulnerable to hacks and we face the risk that they just steal our coins.

The answer is probably decentralized exchanges which are apparently in the works now. Supposedly with these, the user hold their own private keys.

Roidz

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Quote from: nanaimogold on December 23, 2019, 09:28:25 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?

It seems that 2019 hacking is becoming increasingly common and this usually happens on several platforms and market exchangers that have a fairly low security system, so hackers can easily take valuable assets, I think from a number of events that have passed should be a lesson for exchangers or other platforms should prioritize their security systems to be more sophisticated and difficult to hack.

Ucy

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Quote from: nanaimogold on December 23, 2019, 09:28:25 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?

I wonder how hackers were able hack a Blockchain/Blockchain platform. I guess the hackers stole the coin from a single entity. Or could be a centralized platform calle Blockchain by the writer. Article mentions "enterprise Blockchain".
I guess it's a good thing the company is considering ahard fork to reverse the hack. What then happens if the coins has been bought by another person?

Thomas-s

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we probably won’t see the medicine from the hackers. and most likely this will never happen. the only way to avoid such hacker attacks is not to invest your money in such coins. in the usual economic system, hacking attacks also always happen and they cannot be predicted or stopped. I choose the safest coins for investment, but I'm also not always sure that they can not be hacked or stolen.

jcarlo

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Quote from: asus09 on December 24, 2019, 05:40:19 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.

asus09

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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.

mamesso

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The hacking case that happened on the Nuls Blockchain Platform is not the first to occur in the world of cryptocurrency, previously the same case also happened with Bitfinex, Binance, and CCEX. This kind of thing is very difficult to avoid, because the majority of hackers will continue to carry out their evil intentions to carry out its mission. And to reduce hacking again, the platform must immediately improve security so that the same case does not re-occur.

TastyChillySauce00

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Quote from: sureshnsnet on December 23, 2019, 10:21:57 PM

Again one more hacking incident happens in crypto and stolen worth of $480k nuls tokens and my point is how can the hacker target weak address and find the private keys, maybe in the coming days we can see more incident like this in crypto? or there is any way to stop this?

The unfortunate thing is, no system is safe. It doesn't matter how much you invested into the security there'll always be a hole that could be penetrated by the hackers though if invested massively to the security it could somehow bring more security or at least buy time for yet another improvement like all those internet giants for example google. I guess hacking activities will still occur in the future but I hope I'm wrong.

libert19

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Hackers and security systems are ever evolving, and usually hackers are the first who brings issue to the table, so in a way, security systems are dependent hackers.

Periodik

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Quote from: sureshnsnet on December 23, 2019, 10:21:57 PM

Again one more hacking incident happens in crypto and stolen worth of $480k nuls tokens and my point is how can the hacker target weak address and find the private keys, maybe in the coming days we can see more incident like this in crypto? or there is any way to stop this?

There is no way to stop this. This has been happening ever since. The only way to stop this is if the security of rich wallets are so strong no hacker could penetrate ever, which is not possible at all. Thus no way to stop this. And security is always a race. Sometimes hackers beat the security system and they win raking huge sums of money.

sureshnsnet

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Again one more hacking incident happens in crypto and stolen worth of $480k nuls tokens and my point is how can the hacker target weak address and find the private keys, maybe in the coming days we can see more incident like this in crypto? or there is any way to stop this?

Aabcde

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I think this will continue as long as the crypto world is still running. I don't really know if this is really a hack or just an issue that the developer made to obscure some money. It could also be to reduce the price of the coin so that there are some people who want to buy it at a low price. This is still very biased for me. What is clear, always be careful. It could be that one day hackers attack individuals instead of coin developers.

zeze18

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Quote from: btc_angela on December 23, 2019, 06:31:31 PM

Damn, we're almost at the end of the year but hackers are continuing their misdeeds but stealing almost half a million here. I guess everyone, including the devs, should look at their code so that there will be no exploits whatsoever so that they can prevent this happening in the future. They should do a test first on their code, before releasing it because hackers are always one step of the game and we don't want to hear this kind of news, specially at the end of the year.

Any code must be have the weakness and the hackers is usually really good at code breaking because they've tested many platforms and i'm sure if they able to took away almost half mils, they must be a group of people who doing the system penetration thousand times.

Juggy777

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Quote from: nanaimogold on December 23, 2019, 09:28:25 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 indeed sad news I hate it when I read such news about hacking, because it gives crypto’s a bad impression and due to this kind of news people prefer to stay away from crypto’s. @nanaimogold the answer is negative one cannot stop hackers because at times it’s an insider person who passes sensitive information to hackers, other times it’s poor security protocols that are exploited.

btc_angela

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Damn, we're almost at the end of the year but hackers are continuing their misdeeds but stealing almost half a million here. I guess everyone, including the devs, should look at their code so that there will be no exploits whatsoever so that they can prevent this happening in the future. They should do a test first on their code, before releasing it because hackers are always one step of the game and we don't want to hear this kind of news, specially at the end of the year.

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