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Topic: Many cryptocurrency exchanges are vulnerable to breaches. - page 2. (Read 207 times)

full member
Activity: 490
Merit: 101
Ak do on fiatnyh exchanges.

The owner of the company takes a loan for the development of the security of their shares.

The stock exchange is being ruined, the pledge is not fully secured.

The owner has to go bankrupt or sell his stake for a penny.
hero member
Activity: 2086
Merit: 994
Cats on Mars
I believe most of the crypto exchanges with poor security have already been targeted by hackers, so we're left with the ones that offer optimical security so we shouldn'tbe worried.

Now, doesn't this list further encourages malicious groups to target those vulnerable exchanges? I think the list should've been sent privately to those exchanges, that you avoid being on the spotlight and getting exposed by your poor security. Though, it's also good that the public knows which exchanges to trust to the most, so the discussion will enter a bit of gray area.
jr. member
Activity: 154
Merit: 1
This is the major challenge for any crypto exchange - security holes. Nice to know that coinbase stood first with better security.
Better security is a must, we as users can also manage our own security to a limit but any platform should always up their security if they see a problem
member
Activity: 324
Merit: 15
Hello,

I'm really not surprised that so many exchanges have lack of security. I think they really underestimated the potential threat and they didn'd spend enough money to assure that they are the most safe as possible. It is really adviced to avoid at the maximum to let the token there.
member
Activity: 112
Merit: 20
We all have heard about the hacks on many exchanges with millions
of dollars being lost. Despite this many exchanges still haven't improved their security.

ICOratings.com published a list of exchanges according to their security score.

  • Coinbase pro has scored the highest with 89/100
  • Okcoin.cn is placed at the bottom with a score of 15/100.
Hacks are a major feature of this modern world,even world powers most times have hackers all day prying into their system,thats why they spend  millions to prevent a breach of their system,with that being said it'll be almost impossible to successfully hack into the system of a world power like the United States of America,it wouldn't be as difficult for some 3rd world nations..
  
That being said its also applicable in the cryptocurrency sphere,why put all your investment in OKCoin with 15/100 security Score,youre only inviting trouble as it's obvious they don't spend as much money on security as coinbase with over 90/100 security score


Being shrewd with your investments is very vital,as diversification is always key,but make sure your investments are in exchanges that has a "beast like" bullet proof security.[/list]
member
Activity: 532
Merit: 15
This is the major challenge for any crypto exchange - security holes. Nice to know that coinbase stood first with better security.
hero member
Activity: 1036
Merit: 501
The list is a bit misleading since console errors not directly mean that an exchange is more vulnerable to breaches, but I'm still shocked shocking to see that some popular exchanges have such bad rating and the fact they are are holding huge amounts of user funds. Really hope that they will see this list and start directly with improving their security.
hero member
Activity: 2968
Merit: 913
How is this "security score" being measured?What are the factors that determine that score?
We all know that all the smaller crypto exchanges are more vulnerable to hacks,because they obviously don't have the money to invest in security.The users create accounts and deposit funds in those exchanges at their own risk.
hero member
Activity: 1330
Merit: 569
We all have heard about the hacks on many exchanges with millions
of dollars being lost. Despite this many exchanges still haven't improved their security.

ICOratings.com published a list of exchanges according to their security score.

  • Coinbase pro has scored the highest with 89/100
  • Okcoin.cn is placed at the bottom with a score of 15/100.

Cryptocurrency has changed significantly since the inception of Bitcoin, but the number of
security breaches on exchanges remains unaltered.

https://news.bitcoin.com/54-of-cryptocurrency-exchanges-have-security-holes/



While calling them out is a way to get them to be security conscious, I think this would further make them subject of targets because a typical hacker who would not have targeted Okcoin.cn before would as a result of this report would definitely want to give a try at the expense of those who keep their funds there because a lot of them would not be lucky to see this report and do the right thing by moving their funds to other safe platform. Another concern is the report could be said to be sponsored because it means that Coinbase is a more reputable platform to keep funds than others but not perfect at the same time could sniffle out competition if news like this get publicized beyond necessary.

I have not seen a report that compare how secure banks are to hold depositors fund because they know by default that they must meet certain benchmark on a regular basis before being given a clean bill to continue operating by the regulatory bodies and the management can be held responsible should anything go wrong and until when such is paramount in crypto, we might still be grappling with cases like this with no end in sight.
member
Activity: 1120
Merit: 30
Bisq Market Day - March 20th 2023
We all have heard about the hacks on many exchanges with millions
of dollars being lost. Despite this many exchanges still haven't improved their security.

ICOratings.com published a list of exchanges according to their security score.

  • Coinbase pro has scored the highest with 89/100
  • Okcoin.cn is placed at the bottom with a score of 15/100.

Cryptocurrency has changed significantly since the inception of Bitcoin, but the number of
security breaches on exchanges remains unaltered.

https://news.bitcoin.com/54-of-cryptocurrency-exchanges-have-security-holes/


In this industry insecurity is the major challenge facing it which looks like impossible to get through but we must learn not to place all our investment into one basket called Exchange, also we should adopt the use of hardware to store our investment, to avoid the risk of theft
sr. member
Activity: 896
Merit: 253
We all have heard about the hacks on many exchanges with millions
of dollars being lost. Despite this many exchanges still haven't improved their security.

ICOratings.com published a list of exchanges according to their security score.

  • Coinbase pro has scored the highest with 89/100
  • Okcoin.cn is placed at the bottom with a score of 15/100.

Cryptocurrency has changed significantly since the inception of Bitcoin, but the number of
security breaches on exchanges remains unaltered.

https://news.bitcoin.com/54-of-cryptocurrency-exchanges-have-security-holes/



Some of us are already aware of that and knowing all of the risk from that. So it is up to us to secure our own funds by not putting all of it in one exchange.
newbie
Activity: 8
Merit: 0
We all have heard about the hacks on many exchanges with millions
of dollars being lost. Despite this many exchanges still haven't improved their security.

ICOratings.com published a list of exchanges according to their security score.

  • Coinbase pro has scored the highest with 89/100
  • Okcoin.cn is placed at the bottom with a score of 15/100.

Cryptocurrency has changed significantly since the inception of Bitcoin, but the number of
security breaches on exchanges remains unaltered.

https://news.bitcoin.com/54-of-cryptocurrency-exchanges-have-security-holes/

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