Topic: how is cryptocurrency safe? - page 3. (Read 570 times)
Cryptocurrency is safe, AFAIK there's no single cryptocurrency was hacked. Hacking/stealing only happens when an idiot/unsecured user/wallet owner/exchanges/wallets let that happen, a loophole/bug from their software caused the hack, not from any cryptocurrency. And about the NEM hacked, read this article about 5 days ago "Coincheck: NEM Foundation Stops Tracing Stolen Coins, Hackers’ Account At Zero"
You wanna keep the crypto safe, It only some way:
1. Hold on COLD Wallet: Trezo, Ledger, etc: A place you hold coin is a most safety
You can find some information at a website: https://trezor.io/ or https://www.ledgerwallet.com
2. Hold one "PAPER WALLET". You can find on this internet with key "Paper wallet"
3. Hold on DECENTRALIZE EXCHANGE- a exanger never hacked
1. Hold on COLD Wallet: Trezo, Ledger, etc: A place you hold coin is a most safety
You can find some information at a website: https://trezor.io/ or https://www.ledgerwallet.com
2. Hold one "PAPER WALLET". You can find on this internet with key "Paper wallet"
3. Hold on DECENTRALIZE EXCHANGE- a exanger never hacked
Why no one can track down the hackers who stole around $500million worth of NEM from japanese exchange. how do you keep your cryptocurrency?
Mate, my explanation goes like this, if a new developed crypto is created the choice of the founder or creator depends on Him if He would like to reveal His Identity for less security of how much he own of His own crypto, my point is, nem is knowledgeably made by a group of developers and the safetiness depends on who Holds or own it, Hackers will not attack a specific area specifically NEM of they don't have the ability to do it and the availability of transparency of the owner of the NEM.
simple explanation, crypto currency is safe, the idea of losing it because it was stole by somebody is the idea of unsafetiness because there are hackers, who keeps on lurin around making ways to initiate the thing they want to get. the problem is, Hackers are very smart, if they are untraceable it means that things happen in incognito mode.
(Leaving with no History)
“Beginning March 18, the NEM.io Foundation has disabled the tracking mosaic that was put into place to monitor XEM movements from the Coincheck theft. This effort was effective at reducing the hacker’s ability to liquidate stolen XEM and provided law enforcement with actionable information. We don’t plan to release further details due to the sensitive nature of this investigation.”
Quote from : https://www.ccn.com/nem-foundation-calls-off-chase-for-stolen-coins-from-530-million-coincheck-hack/
" South Korean intelligence officials have reportedly identified parallels between the attack’s methodology and hacks attributed to North Korea’s government, but no perpetrator has been formally accused by law enforcement."
https://www.ccn.com/north-korea-stole-billions-won-cryptocurrency-says-south-korea/
It goes to a next level when governments gets involved and this will explain why they are saying that it is a sensitive subject.
If you asked me, I would say that it was a inside job, but that is just my own opinion.
Quote from : https://www.ccn.com/nem-foundation-calls-off-chase-for-stolen-coins-from-530-million-coincheck-hack/
" South Korean intelligence officials have reportedly identified parallels between the attack’s methodology and hacks attributed to North Korea’s government, but no perpetrator has been formally accused by law enforcement."
https://www.ccn.com/north-korea-stole-billions-won-cryptocurrency-says-south-korea/
It goes to a next level when governments gets involved and this will explain why they are saying that it is a sensitive subject.
If you asked me, I would say that it was a inside job, but that is just my own opinion.
Cryptocurrency is safe until you share your secret key someone or keep your cryptocurrency on centralized exchange. Because of hacking attack Binance recently announce decentralized blockchain of binance.
75% safe
Crypto currencies are safe. As a example when we consider bitcoin, they use block chain technology. In block chain there is a interaction between wallet to wallet and they make a chain. Day by day block achain is become larger. If anyone wants to hack block chain they have to hack all wallet in the world. There is no one could do it.
Think you are somewhat mistaken. The NEM balances are definitely being monitored and there are even some suggestions that they have already started making their moves, though seemingly to random addresses and not sold on exchanges
The 500M usd worth of NEM is being tracked. Cryptocurrency is only as safe as the person holding it is.
OP might be refering to this kind of news:
Quote
The NEM Foundation has announced it will no longer track cryptos stolen from the Japanese exchange Coincheck.
The Singapore-based organization said it had provided law-enforcement agencies with information from its investigations.
It did not explain its decision to end the tracking efforts. According to some estimates, half of the NEM coins that disappeared in the hack have been laundered on the darknet.
Source: https://news.bitcoin.com/nem-foundation-stops-tracking-coins-stolen-coincheck/The Singapore-based organization said it had provided law-enforcement agencies with information from its investigations.
It did not explain its decision to end the tracking efforts. According to some estimates, half of the NEM coins that disappeared in the hack have been laundered on the darknet.
Whether these are real news or faked (maybe to trap the thieves)? I don't know.
But quite some sites were posting stuff about NEM foundation stopping to track the coins. Without any explanation (except for: information have been given to law-enforcement agencies).
Think you are somewhat mistaken. The NEM balances are definitely being monitored and there are even some suggestions that they have already started making their moves, though seemingly to random addresses and not sold on exchanges, from sources such as these:
https://www.reuters.com/article/us-japan-cryptocurrency-cybercrime/exclusive-coincheck-hackers-trying-to-move-stolen-cryptocurrency-executive-idUSKBN1FJ28Y
Elliptic, which was engaged to track them down, is probably going to trigger the net and report AFTER these guys are caught.
https://www.reuters.com/article/us-japan-cryptocurrency-cybercrime/exclusive-coincheck-hackers-trying-to-move-stolen-cryptocurrency-executive-idUSKBN1FJ28Y
Elliptic, which was engaged to track them down, is probably going to trigger the net and report AFTER these guys are caught.
Why no one can track down the hackers who stole around $500million worth of NEM from japanese exchange. how do you keep your cryptocurrency?
Exchange broken has nothing to do with cryptocurrency safety. It is the same as asking how gold is safe after a bang has been robbed. It is better to keep your cryptocurrency in hard wallet or on distributed exchange, probably.
Why no one can track down the hackers who stole around $500million worth of NEM from japanese exchange. how do you keep your cryptocurrency?
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