Topic: Hacking is the Big Problem - page 21. (Read 2486 times)
Don't keep your valuable coin which you want to Hold on Certain period in any exchange website, just add those coin which you want to trade or buy for that purpose, keep your Valuable coin on personal wallet like Myetherwallet,metamask, etc, you also can save your coin on nano ledger s.
It is time that crypto user should switch to decentralised exchanges,it is also true there is no such technology that can not be hacked but decentralised nature can minimise the chances by avoiding loop hole in tech.nowdays,hackers are targeting crypto other than other services so it high time to switch to decentralised and better tech.
Etherdelta has been hacked recently which is decentralized exchange.Don't ever store your cryptocurrency on exchanges it can be hacked or closed any time. Always store it on your wallets. Move your coins from wallet to exchange when you are going to trade. Once your trading finished move your coins back to wallet.
I am sure someone lost money like that already. Sending funds to exchange and exchange got hacked. Chance for that to happen is slim, but still, there is a chance.
Digital world comes with this kind of risks. Exchanges should deeply invest into security and that should their prime concern. Yet, the hacking risk can only be minimized and cannot be zeroed.
before coincheck got hacked there was several big exchange got hacked too such as bitfinex and cryptsy and in my view nobody can ensure our funds will be always safe in the exchange because big exchange always be targeted by the hackers but maybe to avoid those situation don't save the funds for long term at the exchange maybe good option
It is time that crypto user should switch to decentralised exchanges,it is also true there is no such technology that can not be hacked but decentralised nature can minimise the chances by avoiding loop hole in tech.nowdays,hackers are targeting crypto other than other services so it high time to switch to decentralised and better tech.
Etherdelta has been hacked recently which is decentralized exchange.Don't ever store your cryptocurrency on exchanges it can be hacked or closed any time. Always store it on your wallets. Move your coins from wallet to exchange when you are going to trade. Once your trading finished move your coins back to wallet.
I am sure someone lost money like that already. Sending funds to exchange and exchange got hacked. Chance for that to happen is slim, but still, there is a chance.
Don't ever store your cryptocurrency on exchanges it can be hacked or closed any time. Always store it on your wallets. Move your coins from wallet to exchange when you are going to trade. Once your trading finished move your coins back to wallet.
It is time that crypto user should switch to decentralised exchanges,it is also true there is no such technology that can not be hacked but decentralised nature can minimise the chances by avoiding loop hole in tech.nowdays,hackers are targeting crypto other than other services so it high time to switch to decentralised and better tech.
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?
There are measures like 2FA, strong passwords. But I seriously doubt that it can deter hackers from doing their thing. This is like a cat-and-mouse game. The people with Coincheck is that they didn't store NEM offline. That's a big no-no as far as security and protecting the funds of your users. Crytocurrencies are really susceptible and vulnerable to such attacks. However, based on my experience, I usually don't store huge amount of money on a exchange. I withdraw to my wallet where I have total control, I only let it sit few hundreds on a exchange for trading purposes only.
I use local online wallet that requires 2FA, strong password and email verification which is too time consuming to opening it. But it's alright as long as it safe. But usually, those kind of security is not totally 100 percent safe as an IT man. So I need to divide it ( my btc and other kinds of token ) just in case some hacker attack to minimize the casualty. Mostly, hacker attack those wallet that has a huge amount of money/token.
Nothing is safe. It is the internet as it is. You can be lucky or unlucky regardless of how secured your site is. Everything in the internet is vulnerable to hacks. It is just a matter of efforts of those who own the site to secure it in against of the efforts of hackers that will exploit everything in the scripts of the sites. The best way to avoid those kind of trouble is either get a hardware wallet/paper wallet. Put funds in exchanges that is guaranteed to be only used on trading not for your wallet.
If your money is on an exchange then you're doing it wrong. Cryptocurrencies are there own banks on your computer or phone, so why would you ever let someone else hold your cryptocurrencies? I understand when you're first exchanging funds but once that's all said and done you really need to get everything out right away. Hold your own private keys because you're a far smaller target than a big exchange.
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?
The best you can do is make sure not to use exchanges as holding wallets. You put your own money at risk by doing this, and doing this will also probably end up drawing more hackers towards exchanges. If they know that people actually do keep their money on exchanges, they'll just continue to try to steal it.
It seems like exchanges really need to get their game up. They've been getting hacked (at least the smaller ones), people have been losing money, and some have been ghosting people's trading accounts. Something needs to change about this.
it's important to have a strong and unique password. If the password is not strong then it is very easy for hackers to guess your password with brute force. Or we can use the password management tool.
For me it's safe to secure my account and wallet.
But I think there is no absolute security, can only minimize the occurrence ...
Maybe there is another better way, please tell me ..
Exchanges aren't really that secure. What if the hacking incident was an inside job having strong security (2fa) and passwords is no help to us.For me it's safe to secure my account and wallet.
But I think there is no absolute security, can only minimize the occurrence ...
Maybe there is another better way, please tell me ..
The only solution to avoid this is already said by Omega which is to withdraw your funds when you're not trading. If it's expensive to withdraw convert them to altcoins so fees won't bother you. Doing this on a daily basis could be frustrating but at least your money is safe from the hackers.
It wasn't really an issue a few months back until the ICOs weren't geting hacked.
Now, facts like 20%-30% gets stolen from the ICOs is alarming and makes any kind of investment very risky.
Recently, there was a $400 million hack related to crypto currency, this only discourages the new users and keeps them away from trading.
Now, facts like 20%-30% gets stolen from the ICOs is alarming and makes any kind of investment very risky.
Recently, there was a $400 million hack related to crypto currency, this only discourages the new users and keeps them away from trading.
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?
This thing cant really be avoided but somehow as an investor or trader you can able to prevent yourself on such loss incase theres an exchange hack. These kind of incidents are common specially on exchanges which is the primary target of hackers since they do know the honey pot of gold is on there this is why they do seek ways which would exploit the wallet and if a certain exchange do have weak security regarding on these attacks then they are highly vulnerable into these attacks.This is why never put huge amount or money that you cant afford to lose in exchangers wallet anytime.Risk is always there. 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?
it's important to have a strong and unique password. If the password is not strong then it is very easy for hackers to guess your password with brute force. Or we can use the password management tool.
For me it's safe to secure my account and wallet.
But I think there is no absolute security, can only minimize the occurrence ...
Maybe there is another better way, please tell me ..
Exchanges aren't really that secure. What if the hacking incident was an inside job having strong security (2fa) and passwords is no help to us.For me it's safe to secure my account and wallet.
But I think there is no absolute security, can only minimize the occurrence ...
Maybe there is another better way, please tell me ..
The only solution to avoid this is already said by Omega which is to withdraw your funds when you're not trading. If it's expensive to withdraw convert them to altcoins so fees won't bother you. Doing this on a daily basis could be frustrating but at least your money is safe from the hackers.
The security problem bothers me too much. but we are in the 21st century. we are moving into the digital economy and the topic of security will be even more acute over the years. People need to become more literate in terms of security.
People (including myself) should stop using centralized exchanges, so they won't have to suffer from these 'hacks' anymore. I do some occasional slow trading, which quite often is being referred to as buy low sell high trading.As soon as I have bought the coins, I have them directly be sent to my personal offline wallet. I will not leave any coins on an exchange while sleeping, that's something I have promised myself.
The only thing I do have left on exchange is fiat. I fully accept the risk of what might happen when an exchange goes down or gets hacked and gives all accounts with balance a fresh haircut ~ my coins is were the priority lies.
it's important to have a strong and unique password. If the password is not strong then it is very easy for hackers to guess your password with brute force. Or we can use the password management tool.
For me it's safe to secure my account and wallet.
But I think there is no absolute security, can only minimize the occurrence ...
Maybe there is another better way, please tell me ..
For me it's safe to secure my account and wallet.
But I think there is no absolute security, can only minimize the occurrence ...
Maybe there is another better way, please tell me ..
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?
why you save your money on exchange site? (besides hacking) some sites can stop your account without any reasons.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?
Some of the exchange sites are Scam, a High fee, and many docs.
use some wallets like electrum and exodus. Only use exchange sites for trading.
The security problem bothers me too much. but we are in the 21st century. we are moving into the digital economy and the topic of security will be even more acute over the years. People need to become more literate in terms of security.
G, I should have learn programming back in the day!
No need for that. Launch an exchange, pretend that you lost x amount of coins due to a hack that happened a while ago (which gives you enough time to get rid of taint and whatnot), and there you have made yourself some quick bucks. For that reason I see operators perform an inside theft more as a serious problem than hackers. It's far too easy to walk off like nothing has happened, just like Bitfinex managed to do -- after them having compensated people on a fiat based value, people suddenly started to make use of that exchange again.... At first they were talking about how they would never make use of that exchange ever again, and now it's all fine....
Ha, very interesting!
Or open some shell bs like Changelly instead and rake some money! ☺
Jump to: