Topic: Hacking is the Big Problem - page 20. (Read 2486 times)
Yeah but FUD/FOMO is worse than hacking
no matter how strongly any security code based on digital is easily exposed to viruses or hacking. so you better always save your money and if you do not trade
We can never under estimate the power of hackers and there is nothing to deny this fact that some of the hackers are having this much of skillset that they can really do anything which they want to do. their hacking skills can for sure put the investors of crypto coins in a great trouble as if they managed to get access over their wallets, then they will be able to get all their crypto coins without any difficulty. So we need to be well aware of the activities which are going around us. 
Best case scenario is store your all coins in hardware wallet or offline wallet. Exchanges should use only for trading.
Not everyone has the opportunity to use offline wallets, especially those who are in sight tend to use online wallets. Also, the hardware wallets do not have a hacking privilege. So a virus entering the hardware, and may control the wallet.
As users suggested to be on the safer side it is good to use exchanges only for the trading purpose. During other time it needs to be withdrawn to the wallets, this will ensure high security on our holdings than leaving our tradable assets for a longer time period into exchanges.
Best case scenario is store your all coins in hardware wallet or offline wallet. Exchanges should use only for trading.
Yes, storing all the coins in the cold storage is a very great idea to safeguard the coin and stay away from unwanted attacks of the hackers. As the value of the cryptocurrencies market is increasing every day the risk of getting hacked is increasing day by day and more and more hacker are getting attracted to the crypto market. I think the security should be increased and the users should also take care of their funds in every way they can.
Even an exchange is registered to their local government, it has been trusted by too many traders, you don't know when hacking will come to them.
no matter how strongly any security code based on digital is easily exposed to viruses or hacking. so you better always save your money and if you do not trade
Keeping it with trezor or nano will be the best choice. 
Blockchain can help preserve ur coin without hack. U need a good coin platform !
Yes your are right but no one can give 100 % assurance to any wallets but prevention is very important for all bitcoin holders so choose the correct wallet make more security on your wallet it will reduce the hacking opportunity on your bitcoin Wallet .
So how can we ensure that our money is safe on exchanges?
Don't store your life savings on exchanges, it isn't safe if all of it is placed there.Blockchain can help preserve ur coin without hack. U need a good coin platform !
It's a web wallet so still we are not sure of on how hackers can penetrate backdoor.I read the new the Japanese Exchange Coincheck loses ¥58 billion in the hacking attack.
After the hacking incident, a good news went out Coincheck promises 46bn yen refund after cryptocurrency theft. 
I got a little bit scared. You know, hackers are some kind of virus that once you get entered into, it is difficult to get cured unless you have this antivirus with you. Even government sites get hacked, what do we expect. This is the only non economical threat on the digital currency and it is possible that we can be hacked too. This is why i try to withdraw a portion of my money and convert it into fiat for safekeeping. Whatever happens to my account, i got reserves. Though most of my capital are being saved, its a lot regretful if its hacked. Better be alert and smart everyone. Keep your accounts secured and triple private it.
Best case scenario is store your all coins in hardware wallet or offline wallet. Exchanges should use only for trading.
no matter how strongly any security code based on digital is easily exposed to viruses or hacking. so you better always save your money and if you do not trade
Blockchain can help preserve ur coin without hack. U need a good coin platform !
That is not a 100 percent sure, cause hacker is has advance apps just to hack your verification email or even you own computer as well. They don't need to know you, just wrong click from you and it's the end of parade.
Blockchain can help preserve ur coin without hack. U need a good coin platform !
Guys…
I read the new the Japanese Exchange Coincheck loses ¥58 billion in the hacking attack. It’s not a single case in this after a few weeks ago Etherdelta was also Hacked. So how can we ensure that our money is safe on exchanges?
I read the new the Japanese Exchange Coincheck loses ¥58 billion in the hacking attack. It’s not a single case in this after a few weeks ago Etherdelta was also Hacked. So how can we ensure that our money is safe on exchanges?
Dude, here i have few important points i went through. These would surely enhance your knowledge on securing your wallets from hacking. Please get into the link below;
http://bitcoinist.com/secure-cryptocurrency-wallet-16-simple-tips-beginners/
atleast coinheck release a statement regarding this and they say that they will pay their users affected by this said hacks.
While I am happy that reimbursement is going to take place, I find it a bit weird to let them walk away with things so easily. If you can fake a hack as exchange, and then always have the option to just choose to pay back the debt as result of that, it grants you too much free game to instantly grab/steal loads of more funds in the future. An exchange, regardless of its size, should never have that many coins sitting in hot wallets. If they do leave hundreds of millions in funds in their hot wallets anyway, then it's a very shady practice. It can't even be seen as incompetence anymore -- NiceHash did the exact same thing before getting "hacked".
Guys…
I read the new the Japanese Exchange Coincheck loses ¥58 billion in the hacking attack. It’s not a single case in this after a few weeks ago Etherdelta was also Hacked. So how can we ensure that our money is safe on exchanges?
I read the new the Japanese Exchange Coincheck loses ¥58 billion in the hacking attack. It’s not a single case in this after a few weeks ago Etherdelta was also Hacked. So how can we ensure that our money is safe on exchanges?
Your coin is not safe on exchanges. As what they say, if you don't have the private key of your coin then it is good as not yours. There is always a possibility that exchanges can be hack that's why if you are trading actively then store only in the exchanges your coins for trading and those for long term store it in a hardware wallet because we never know what will happen so we should just secure what we can. Always have 2FA activated so that the hackers cannot easily access your account and always check the URL if it is the right address and book mark it so that there is no need to search in google the next time.
What I do: I set a "threshold" at exchange's balance. Let's say I start trading with 0.01 BTC. I keep trading and I let this money there without worries (it's risky, but I choose to take it). Once I hit my set "threshold" it's time to withdraw. If you are too afraid, split your coins among some trusted exchanges or always withdraw your money after a day work. These hacks rarely happen though.
Each one has his own strategy to store money, try to find the best for you.
Each one has his own strategy to store money, try to find the best for you.
Hacking is a big problem, but if you have anticipated it, then everything will be fine. Do not put your money / coin on exchange (do not make an exchange is a wallet), just use the exchange for trade and then you can keep all your coins in the trusty wallet and have been recommended by many users here.
This is one of the reasons why personal wallets was created in order to avoid this hacks, we know that exchanges are not absolutely safe even if you put 2FA authentication etc because if a hacker can easily access the system it is easy for them to steal crypto inside those exchanges.
atleast coinheck release a statement regarding this and they say that they will pay their users affected by this said hacks.
atleast coinheck release a statement regarding this and they say that they will pay their users affected by this said hacks.
This is why I don't store my coins on exchanger anymore I don't trust anyone to hold my coins. Honestly, I'm also a member of exchanges yes i do trading but i never store my coins for a long time once I got profit I immediately cash out the balance, it is too risky saving your balance in a centralized exchanger.
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