Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.
This is a decentralized market and that's why there are so many hackers, scams and manipulation organizations here. We have the right to trade freely but not taxed, this is the price to pay for that. If we work in the background, we need to have plans to guard against risks. In normal financial markets, we are protected by law but not here. Keep your computer clean and don't click on strange links, that's how I protect my assets. 
Topic: Is there any way to out of this insecurity? - page 2. (Read 835 times)
There's no such thing we can call as perfect when it comes to security because just one mistake is enough to ruin everything. I've seen many hacks in the past where there was no lapse by the exchange's end but they still got hacked maybe due to some insider person's involvement. The worst part is, we don't know the intentions of people as well as even exchanges and whether they could be trusted forever or could turn dark any time. It's better to use all the security measures provided by your exchange if you want to minimize the risks of getting your account compromised. Else, the only option is to keep your money (coins or tokens) with you until you want to trade it.
Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.
No, that’s not much of a problem, there are still good exchanges you can make use of. This is one of the reasons why you should be making use of the top exchanges who are always ready to upgrade and update their system to have the latest security features that will protect their customers/investors. There are some exchanges that even go to the extent storing your coins offline to secure them, and some have insurance.Lastly, stop having all your assets stored on exchanges. After choosing a good exchange, you still have to play your own role in ensuring that your money safe. Don’t just leave everything to them, it’s risky. At the same time, withdrawing daily and then depositing just before starting trading is not possible for anyone honestly, this is why people are holding accounts on multiple exchanges and holding small funds on each exchanges. This is one simple trick yet you cannot do anything when one or two exchanges get hacked or bankrupted.
Never leave all your assets with an Exchange Provider, it will be very dangerous. Use your personal wallet, which is Hardware wallet which in my opinion will be safer.
It is what we need to do for our assets because we never know what will happen to the exchanges. If we feel insecure to keep our assets in the exchange, we need to move it to the personal wallet and don't risk your fund in the exchanges. That will be a side job too you, means, if you want to trade or sell the coin, you need to send the coin to the exchange, but that will be worth doing to prevent hackers.It has been recommended so many times, I have lost the count that people should not use exchanges as wallets and only keep the money they intended to trade with in the exchange and to avoid hacks and other stuff just make sure you have setup some 2-factor authentication and don't click unknown links that are being spammed all over the internet.
Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.
Theft happens everywhere. It is not just the crypto space that is being affected by it. Cash gets stolen from houses, shops and banks as well; credit cards information are hacked every day and even ATM card pins are hacked. There is nothing safe in this world. Just like every theft that happens around the world, crypto space is not different.We should learn to live with this while exchanges and wallets keep their securities updated to ensure the safest experience for their users. So basically, insecurities occur in everything and I don’t think crypto currencies will lose popularity because of the same.
Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.
You know it's not just crypto exchange's been hacked before, right? Bank accounts, social media accounts and any other kinds of accounts connected to the internet is a target for hacking. So get used to it already since you can't stop them from doing it anyway, all you have to do is to fully secure your account all the time since anytime the hacking could happen. There is no perfect or safe system, everything is vulnerable to hacking.People wont learn if they wont experience such disaster and when the time that they do experience it then they will surely be mindful on next time cases.
Its always been fault or towards human error this is why hacking do exist because people arent really that serious on setting things up to secure out their
assets even the features needed are already integrated. Ex. 2fa. This had been a common feature but still people do neglect out on using it.
Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.
Hmm, first it would be useful to people on here generally and traders to provide some names of the exchanges you're talking about. This way everyone can determine for themselves if this is a valid statement or not.
Second, hacking is something that can't be completely eradicated and while strong measures are put in place, sometimes these do get breached but this is not often. And if you keep worrying about something that could potentially happen and you don't have much control over it then I say there's no point at all. This is the same as being worried that if you go out even if you take all the necessary precautions someone might pull your mask off and you might catch the virus. The point is that sometimes you have to take some calculated risks and can't always live in fear of something happening.
Well, can you please name that exchange platform that you have said that hacked. There are certain exchanges that have been hacked but everyone has been considered as totally lose and moving on. Perhaps you are choosing the wrong exchange, --just like what happened to finance exchange they hacked last year but they are able to return the traders fund that has been hacked through their SAPU wallet.
Well, just forget and move on if you have been scammed, but it sure that it won't happen by next time.
Well, just forget and move on if you have been scammed, but it sure that it won't happen by next time.
If this is true that the exchange actually returned investors money, then that is commendable. Because so many exchange feel not concerned when investors get hacked via their channel and that make investors feel that they have some kind of connection in the hack. I feel most hack are an act of negligence from the owners of the exchanges anyway.
Some exchanges might not be able to reimburse the whole stolen amount, but they will offer their users concession in some way or the other through the exchange itself. So, basically, they somehow make it up to their users for the stolen amount. All I would advice you is to find reputed, trusted and well-established exchanges to trade and store your coins.
Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.
You know it's not just crypto exchange's been hacked before, right? Bank accounts, social media accounts and any other kinds of accounts connected to the internet is a target for hacking. So get used to it already since you can't stop them from doing it anyway, all you have to do is to fully secure your account all the time since anytime the hacking could happen. There is no perfect or safe system, everything is vulnerable to hacking.
always use popular exchanges in crypto that already have good credibility for users.
Until now, although many exchanges have been closed, I feel that the popularity of crypto has not shown any decline. In fact, there are always innovations that collaborate with crypto to increase extensions in various industrial products.
Until now, although many exchanges have been closed, I feel that the popularity of crypto has not shown any decline. In fact, there are always innovations that collaborate with crypto to increase extensions in various industrial products.
Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.
Well actually not only crypto related sites and exchanges. In general every sites are prone to hacking no matter how high the security is. For example binance, its one of the trusted and high security exchange, same goes to twitter recently. Hackers/scammers are already existing long before so what we can do is to be more careful and not use an exchange as our wallet and choose a reputable one when we are planning to sell our assets.
There have been many hacks in the past and most of them target large exchanges so use only half of your assets to invest. I also lost money many times in this market and most of it was my mistake when not checking.
Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.
This is not called insecurity. You are just being concerned about the safety of your accounts which is quite normal. Look, no matter how much secure the company claims they are , they are not! They are always prone to getting hacked (and I guess you have already seen it). The only way to keep your coins secure is not not keep them lying around everywhere without any reason. If you are done with exchanging, just withdraw your coins and keep it somewhere safe. Preferably in cold wallets and hardware wallets. As long as the coins are being held by a third party, they are never safe!
Make sure to use every security layer they provide. Won't totally secure your account, but will at least keep it more safe than not using it at all.
Don't just look at the news because basically, a large exchange will remain safe from hacking, if you save more assets then you don't need to exchange because there are still many safer hardware wallets. I think that's enough for a solution.
I think you are wrong, being updated and looking at the news is the most important part of crypto trading community because a lot of exchanges go through hack attempts and there are times when a particular exchange stops withdrawals like cryptopia did and those are the signals that hints towards an exit scam or being hacked so if you are not updated you might continue depositing money into the exchange and loose it all.
So don't overdo it about what you think it might be what the OP is afraid of just looking at it from the news and its basics are still many who believe in the cryptocurrency market.
Believing in the market is one thing and trusting the required process involved are two completely different aspects and you have to be careful and very active with your decisions because as we know crypto once hacked/stolen/lost cannot be recovered.
Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.
Just read those article about the convicted scammers that had put behind jail to satisfy yourself that the governments are doing their Jobs about these kind of people.From that you will understand that this is part of every market,scammers and hacker are there because this proves how healthy this market and profiting.
But don't worry this is isolated cases only and there is once in a million victims.
Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.
Well actually not only crypto related sites and exchanges. In general every sites are prone to hacking no matter how high the security is. For example binance, its one of the trusted and high security exchange, same goes to twitter recently. Hackers/scammers are already existing long before so what we can do is to be more careful and not use an exchange as our wallet and choose a reputable one when we are planning to sell our assets.
Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.
I have same story before when the hacking is rampantly happening and news here and there are constantly releasing.But i realized mate?the more i am affected is the more i will lose the chance to make profit.
Yeah there are this hackers that given gift to overpower others but we are human also,we must find ways to overcome our fears.
what i did?is protecting my wallet by using ledger and never to let my funds stays in exchange or gambling sites overnight.
this is how i treat the Insecurities and now?i am good as new for the market.
It is what we need to do for our assets because we never know what will happen to the exchanges. If we feel insecure to keep our assets in the exchange, we need to move it to the personal wallet and don't risk your fund in the exchanges. That will be a side job too you, means, if you want to trade or sell the coin, you need to send the coin to the exchange, but that will be worth doing to prevent hackers.
It is not that easy for day traders to move their assets in and out of exchange anytime they want to trade, this is the more reason why exchanges needs to up their game in tighten the security of their exchange,
in most cases, traders have the majority of assets on exchange, an investor who just want to hold a coin should be wise enough not to leave the assets on exchange,
The best option will be to use dex but we all know dex has less volume than cex, it is not easy for day traders to use them, although they are more secure.
Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.
just to clarify,Why are you becoming insecure?i mean what about the hackings?have you invested Huge amount?The way you react seems like you have been a victim of hacking or you are a big investor that afraid to become a victim?
Lets just be realistic here.
Because you made us confused since the topic is very serious when we as long term Holders are very precise in our trust in this market.
Don't just look at the news because basically, a large exchange will remain safe from hacking, if you save more assets then you don't need to exchange because there are still many safer hardware wallets. I think that's enough for a solution.
So don't overdo it about what you think it might be what the OP is afraid of just looking at it from the news and its basics are still many who believe in the cryptocurrency market.
When certain situation or incident happen then thats the time they do realize that even on the basic ways on how to secure their coins is important.Trade of on the amount that you do actively use then
pull it out.
This is what im doing even im dealing or do make use of Binance platform.
Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.
just to clarify,Why are you becoming insecure?i mean what about the hackings?have you invested Huge amount?The way you react seems like you have been a victim of hacking or you are a big investor that afraid to become a victim?
Lets just be realistic here.
Because you made us confused since the topic is very serious when we as long term Holders are very precise in our trust in this market.
Don't just look at the news because basically, a large exchange will remain safe from hacking, if you save more assets then you don't need to exchange because there are still many safer hardware wallets. I think that's enough for a solution.
So don't overdo it about what you think it might be what the OP is afraid of just looking at it from the news and its basics are still many who believe in the cryptocurrency market.
Always try to develop and move forward
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