Hackers Just Had A Field Day on Nuls. $480k Worth Token Stolen - page 3.

wxa7115

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Bitcoin is GOD

Quote from: hirngespenst on December 23, 2019, 04:32:47 PM

So, another hack at the end of 2019! The crypto never can come out from hackers, scammers and these are the main drawbacks of crypto! We started the year with the loss of an old crypto exchange which is Cryptopia and the year was full of hack incidents! I pray 2020 will be a positive year for the crypto lovers in every way where hack will be less to no more, BTC, ETH price will recover well and so on.

This is not only happening in the market of cryptocurrencies, this is happening everywhere, as we are relying more and more on digital communications it is obvious that hackers are going to find a bigger number of victims to which they can take advantage and when you add that very few people take their online security in a serious way this creates a huge problem.

The only way to reduce this is to take care of our online security as seriously as possible, this is not going to diminish the number of hackers and incidents like this but at least it is going to protect us from suffering the same fate.

asriloni

legendary

Activity: 3038

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Leading Crypto Sports Betting & Casino Platform

I ever heard that if nuls claimed to be the safest blockchain but we know that right now if that is not more than another crap blockchain with so many vulnerabilities. If the developer can't create a solution to prevent the more vulnerabilities to be exploited by the scammer and I think the hacked cases will be remedy again next year.
Remember not so many blockchain platform know where is the problem that makes their blockchain can be hacked by the hackers.
that shows if the majority of blockchain developer is not competence especially when it comes to maintain the security system.

JeffBrad12

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Activity: 2954

Merit: 533

Leading Crypto Sports Betting & Casino Platform

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.

qiwoman2

legendary

Activity: 2114

Merit: 1023

Oikos.cash | Decentralized Finance on Tron

This is one of the main reasons I think that many ordinary folks are really apprehensive to invest or incubate their life savings into this niche market because of the security risks involved in it. We need to really improve security and education in this space if we want to attract more laypeople to invest. I am very sad for all those people who lost their NULS today unless they can be compensated of course. I wonder how expensive it is now to underwrite your project or one of the exchanges. I used to work for Lloyds Underwriters in the City very early on in my life and I remember back then it was very expensive. Insurance in this fledgling market really must cost a bomb. I know Binance is underwritten and a few other places, but most places and projects have no insurance cover or the proper security against an attack of this sort to protect their investors, so we really need to be careful where and how we invest in Crypto in general.

BeginToMine

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Activity: 434

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This is really serious, how can this be avoided, incurring such lost is hurtful. Hackers are sets of unavoidable people in Cryptocurrency, reason why we have to be absolutely careful to avoid falling victims.

hirngespenst

full member

Activity: 812

Merit: 114

So, another hack at the end of 2019! The crypto never can come out from hackers, scammers and these are the main drawbacks of crypto! We started the year with the loss of an old crypto exchange which is Cryptopia and the year was full of hack incidents! I pray 2020 will be a positive year for the crypto lovers in every way where hack will be less to no more, BTC, ETH price will recover well and so on.

boltz

legendary

Activity: 3346

Merit: 1203

There will never be a fully security network that cannot be hacked so I don't see 2020 safer than 2019 when it comes to crypto hacking. I know , its sad , we don't want to see news like this but its up to see to protect our assets and big project should be aware that a hack on them can happen anytime. This is the 2nd announcement of hacking a project funds in 2 weeks so lets hope it will end here for this year.

batang_bitcoin

hero member

Activity: 3080

Merit: 603

There is no perfect system and from my understanding it it wasnt mentioned of what kind of hacking was that. Correct me if I'm wrong but base on the article, there was a sudden transfer of those tokens which can lead to wallet hacking. 2% of entire supply was hacked.
They have already learned from this and it is really an expensive lesson for them.

ansi

sr. member

Activity: 882

Merit: 254

Well i won't blame them since security is still in embryo stage in this cryptophere. You can't blame a hacker for finding it easy to steal couple millions, the crypto owner should be blamed for that.

cryptoaddictchie

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Fully Regulated Crypto Casino

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?

Remedy is prevention. Cure for this quite hard to decipher even a tight security has been implemented. There are different blockchains and of course those new tech are still not safe from threats. Even bitcoin and major coins has been hacked before what more those new projects.

Hack is one thing new projects should be ready for cause this is one enemy that often lead to a very bad publicity just like this. Which isn't good for project and could affect its liquidity.

leeboy

jr. member

Activity: 105

Merit: 2

Second or third big hack in december. Terrible

Dickiy

sr. member

Activity: 826

Merit: 460

hacking there must be a cure, that is, from a very good security system but hackers will never stop because they occupy the job as hackers and also I think hackers are smarter than security systems

nanaimogold

sr. member

Activity: 661

Merit: 251

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?

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