Nowhere is safe part 2 - page 2. | Bitcointalksearch.org

o48o

legendary

Activity: 3066

Merit: 1169

Leading Crypto Sports Betting & Casino Platform

Quote from: oktana on December 16, 2023, 01:17:20 PM

Life’s a risk, businesses are risky, investing in Bitcoin is a risk, but it doesn’t mean one shouldn’t make calculated risks. Now, I can tell you that it is riskier to have your money on a CEX than a DEX. In fact, you can’t even have money in DEX because you only connect your wallet to make a transaction but it isn’t as if you are storing your crypto with them. Many people are conscious to disconnect their wallet afterwards to further reduce the risk (we should try to do so too). But CEX? Your funds are with them before you can even transact. Not only does your fund depend on their security, even the platform can lock you out and you lose your money (not often though). I believe it’s reduced risk to just have your wallet to yourself… that’s the best one can do.

Well i don't know about that. It's definitely closer to crypto ethos to be decentralized as possible, but when it comes to being risky, many of the CEXes get hacked but still keep enough funds to have money for their customers. Unlike hacks in decentralized finances. <- (on which you might want to take a look that link).

I understand why people argue that we should head for decentralization, but using DeFi, isn't risk free. Far from it. In fact i wouldn't say it's riskier in any legit CEX.

goaldigger

sr. member

Activity: 2422

Merit: 357

The market is a big ocean where the hackers are trying to catch those fish who don’t know how to protect themselves and that can happen to you as well especially if you don’t focus on the security of your wallet. We must protect our wallet at all cost, and we should not save any crypto on any exchanges because we don’t have control over it. Hackers and scammers are always here in the market, know how to be more secured and don’t ever trust anyone without doing your own research.

Johnyz

full member

Activity: 2086

Merit: 193

Quote from: synchronym on December 21, 2023, 01:09:29 PM

Bitcoin is risky. When we invest in bitcoins we must be aware of the risks involved in investing in bitcoins. Likewise, whichever wallet we keep our coins in, we must be careful with security. Because day by day hackers are hacking different wallets with their modern methods. Whether we keep hardware wallets or any other wallets, hackers will try to hack our wallets by fooling our eyes with their fancy methods. Of course we should try our best to protect our wallet from all those hackers.

This is a risky investment but more worth it compare to other investments option.
When it comes to security, this should be your top priority as you are putting your hard earned money here and we know that hackers are always there watching your account and waiting for the right moment to hack you. You should activate every security feature available in your wallet, and protect your keys at all cost.

Sophokles

hero member

Activity: 1232

Merit: 516

Quote from: rhomelmabini on December 21, 2023, 01:40:30 PM

Quote from: synchronym on December 21, 2023, 01:09:29 PM

Bitcoin is risky. When we invest in bitcoins we must be aware of the risks involved in investing in bitcoins. Likewise, whichever wallet we keep our coins in, we must be careful with security. Because day by day hackers are hacking different wallets with their modern methods. Whether we keep hardware wallets or any other wallets, hackers will try to hack our wallets by fooling our eyes with their fancy methods. Of course we should try our best to protect our wallet from all those hackers.

It's easier said than done but I think when it comes to security you really have to be well-educated on anything involving crypto. For me hardware wallets are still the best when it comes to security, it's still on you if something happen on your assets.

Those who lost funds with the recent ledger exploit have done transactions with various dapps which opens a loophole for the exploiter to drain some users accounts. If you use one wallet to store your funds and another one to do transactions or interact with various dapps then that solves the problem. Just separate your long term portfolio from your regular-use portfolio so that your long term portfolio can be safe which has most of the funds. Hackers and Exploiter is smart so we need to be smarter to be on the safe side.

rhomelmabini

hero member

Activity: 2030

Merit: 578

No God or Kings, only BITCOIN.

Quote from: synchronym on December 21, 2023, 01:09:29 PM

Bitcoin is risky. When we invest in bitcoins we must be aware of the risks involved in investing in bitcoins. Likewise, whichever wallet we keep our coins in, we must be careful with security. Because day by day hackers are hacking different wallets with their modern methods. Whether we keep hardware wallets or any other wallets, hackers will try to hack our wallets by fooling our eyes with their fancy methods. Of course we should try our best to protect our wallet from all those hackers.

It's easier said than done but I think when it comes to security you really have to be well-educated on anything involving crypto. For me hardware wallets are still the best when it comes to security, it's still on you if something happen on your assets.

Out of mind

sr. member

Activity: 658

Merit: 321

I like to treat everyone as a friend 🔹

Since you plan to keep the money safe by investing in crypto, it is rarely safe. However, there are many safe places where you keep your money, but you can keep your money safely using that wallet. But you must keep your wallet keys in complete security and safe, then you will have fear of losing your money and chances of hackers hacking. Many times it is seen that if there is a large amount of money deposited in an account, hackers plan to hack and can take your money by hacking. That's why you should keep some money in few wallets and then invest for a long time, but you will get some security for the money.

synchronym

full member

Activity: 532

Merit: 163

Bitcoin is risky. When we invest in bitcoins we must be aware of the risks involved in investing in bitcoins. Likewise, whichever wallet we keep our coins in, we must be careful with security. Because day by day hackers are hacking different wallets with their modern methods. Whether we keep hardware wallets or any other wallets, hackers will try to hack our wallets by fooling our eyes with their fancy methods. Of course we should try our best to protect our wallet from all those hackers.

Miles2006

sr. member

Activity: 182

Merit: 120

Concerning security no one can be smart enough to avoid such not only in the crypto world, I think anything that has to do with money scammers will always be ready to take advantage over every little mistake, even a crypto expect can fall victim when he's not careful with his investment, just like what the op said security starts from us cause if we decide to play with our investments scammers will always be ready to take advantage, my first idea on security do not disclose personal informations to the public, the issue with hackers have asked such question before I don't think crypto hackers can be tracked cause if possible a lot of them who are involved in such act will be punish.

Best-mary

jr. member

Activity: 280

Merit: 8

BTC Lover|Crypto Educator| We Grow by Learning!

Quote from: Beparanf on December 18, 2023, 07:30:26 AM

Nowhere is safe if you don’t know how to secure your asset properly. All of the issue including hacking events only possible because the victim itself use the service that got exploited. Crypto holders should have a separate air gapped wallet for their main holdings to their money for trading to avoid exposing to risk all his asset at once.

You will lower your chance of being scam by using your wallet frequently online instead use a separate wallet that contains part of your funds to connect online frequently.

Yes, this is plausible. Among the cex I mentioned about their hacks. Bitget wallet wasn't really hacked per se. It was through the link users clicked on one group like that. That made the hacker have a way into their wallet. But the issue was resolved and affected users got compensated. This happened when the wallet wasn't bought by bitget yet.

I think you've given me an idea.. I'll likely have a part in this diffusion and discuss how people should avoid getting affected by hackers

Best-mary

jr. member

Activity: 280

Merit: 8

BTC Lover|Crypto Educator| We Grow by Learning!

Quote from: KingsDen on December 17, 2023, 04:58:54 AM

Quote from: EarnOnVictor on December 17, 2023, 04:25:45 AM

You can't be wrong about this, but first, why are these posts in the altcoin section of the forum? They are better in the main section of the forum to gather more recognition and reading, even as it's the right place fitting for this post. You might want to contact a moderator to help you move them (including those in the links attached) to the right section.

I also do not believe that this topic belongs here, I think it would have better fit in the cyber security sub board if it were created. Maybe, it will be nice Op send the topic where he made the first topic about no place is safe.

Actually, the cryptocurrency industry is full of risk and the best way to avoid being hacked is to avoid people knowing you own bitcoin and the wallet you have.

That's true. You might be able to avoid your people knowing, but you can't avoid internet knowing. So, the best option here is to use an exchange that you know is working well with securities. I'm familiar with cex especially those two I mentioned in my link. Those two securities a top-notch notch that's why I prefer using them among others and always get updated with their protective funds and reserve ratio

Samlucky O

sr. member

Activity: 504

Merit: 378

The great city of God 🔥

Quote from: Beparanf on December 18, 2023, 07:30:26 AM

Nowhere is safe if you don’t know how to secure your asset properly. All of the issue including hacking events only possible because the victim itself use the service that got exploited. Crypto holders should have a separate air gapped wallet for their main holdings to their money for trading to avoid exposing to risk all his asset at once.

I agree with you. I believe the real or possible cause of this hacks is as a result of using main wallet for all transactions. I think there is need to have separate wallets, so that one should be for storage while the other one is for frequent transactions.

Beparanf

hero member

Activity: 2954

Merit: 796

Nowhere is safe if you don’t know how to secure your asset properly. All of the issue including hacking events only possible because the victim itself use the service that got exploited. Crypto holders should have a separate air gapped wallet for their main holdings to their money for trading to avoid exposing to risk all his asset at once.

You will lower your chance of being scam by using your wallet frequently online instead use a separate wallet that contains part of your funds to connect online frequently.

Text

hero member

Activity: 2464

Merit: 594

It's the reality that security breaches can happen even in the safest platforms, whether CEX or DEX. So individual responsibility and vigilance in the crypto space are very important. But you know, honestly, based on my personal experiences, I have never been robbed of funds on centralized platforms, perhaps because of second-layer protections such as 2FA and email or mobile confirmation and verification, but on decentralized platforms, it has happened several times. I admit that maybe I wasn't careful enough or I had some shortcomings that led to it happening to me. When I became aware of hacking incidents, I started avoiding dapps or defi platforms that require connecting wallets.

livingfree

hero member

Activity: 2996

Merit: 580

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: fapar on December 17, 2023, 03:34:07 AM

Quote from: livingfree on December 16, 2023, 06:15:13 PM

This news was about Ledger's library and has been made some topics on certain sections of the forum. But as you're pointing out the safety of everyone and with wallets we use.

The problem starts with the person who owns a wallet. If you're careful and regardless of the wallet you use, of course the official ones. You're unlikely to get phished or hacked.

Monitor your internet activity and the websites you're browsing especially the applications that you're downloading. Because most of these hacks start from people's negligence.

Moreover, storing coins on Ledger is safe in itself - offline. We are exposed to danger only at the moment of connecting it to any site (market, CEX/DEX, etc.) - online. And this incident in itself with duplication of the “Wallet Connect” window revealed the inattentiveness of users. The simplest risk assessment will lead to the conclusion that your crypto assets should be divided into operational expenses and savings, as CEX (cold/hot wallets) do. That is, you can have two Ledgers, if of course we are talking about hardware crypto wallets.

Yes, technically it's safe if you do nothing. But I guess everything is fine now but still always check for updates if you are the type of guy that usually connects your hardware wallet to these dexes.

Well, IMO, these hardware wallets should be good for storage and not for active usage which usually connects to the dexes. Because the purpose of it should be main storage than a daily drive you use if you're an active trader.

batang_bitcoin

hero member

Activity: 3080

Merit: 603

Quote from: Best-mary on December 17, 2023, 04:52:41 AM

As for dex, I have only used Trust wallet so far

Trust wallet isn't a dex but it has an integrated exchange. Well, it's a wallet that many are using because it supports a lot of cryptocurrencies.

Quote from: Ben Barubal on December 17, 2023, 10:16:12 AM

Can anyone here tell us the steps to take to avoid this? It's so easy to say, Let's be careful, but the action to avoid is that no one really knows what steps to take.

Do not download files that you don't know, don't visit or click links that are unfamiliar. Start from having that discipline and you'll be able to avoid getting hacked or scammed.

Ben Barubal

member

Activity: 560

Merit: 18

Eloncoin.org - Mars, here we come!

Hackers or scammers are very smart these days. And because they are so smart, we should be smarter than them. Now the question is, how do we do that? This is where people argue and have problems. Yes, most of the community here in the crypto industry knows that they or we should be careful, but most of them don't know how.

Can anyone here tell us the steps to take to avoid this? It's so easy to say, Let's be careful, but the action to avoid is that no one really knows what steps to take.

KingsDen

legendary

Activity: 1302

Merit: 1089

Goodnight, o_e_l_e_o 🌹

Quote from: EarnOnVictor on December 17, 2023, 04:25:45 AM

You can't be wrong about this, but first, why are these posts in the altcoin section of the forum? They are better in the main section of the forum to gather more recognition and reading, even as it's the right place fitting for this post. You might want to contact a moderator to help you move them (including those in the links attached) to the right section.

I also do not believe that this topic belongs here, I think it would have better fit in the cyber security sub board if it were created. Maybe, it will be nice Op send the topic where he made the first topic about no place is safe.

Actually, the cryptocurrency industry is full of risk and the best way to avoid being hacked is to avoid people knowing you own bitcoin and the wallet you have it.

Best-mary

jr. member

Activity: 280

Merit: 8

BTC Lover|Crypto Educator| We Grow by Learning!

Quote from: btc78 on December 16, 2023, 10:35:17 AM

Quote from: Best-mary on December 16, 2023, 08:14:48 AM

I said it, if we are in this cryptocurrency ecosystem, our first safety comes from us. No matter what you want to use, there are times when what we believe is the safest won't be the safest.

exactly there are people with bad intentions everywhere we should never be complacent when it comes to making sure the crypto we hold is safe whatever system you use, you have to maintain a certain alertness still

Yes! Especially the system we chose to use is improving daily in their security. I have used like three exchanges and just one dex and can say among these three, Bitget and Binance are really improving in their security. As for dex, I have only used Trust wallet so far

Best-mary

jr. member

Activity: 280

Merit: 8

BTC Lover|Crypto Educator| We Grow by Learning!

Quote from: EarnOnVictor on December 17, 2023, 04:25:45 AM

You can't be wrong about this, but first, why are these posts in the altcoin section of the forum? They are better in the main section of the forum to gather more recognition and reading, even as it's the right place fitting for this post. You might want to contact a moderator to help you move them (including those in the links attached) to the right section.

Well, there is no total security in the crypto space, I will always say that, but there are layers of security which I would like people to always consider for the protection of their money. Those who have huge amounts of money will always need offline wallets and so on, after all, they visit the internet not often, especially if they are to be held for long years. While others in terms of exchange, there is no way the DEX will not be better than CEX, but still, as you said, nothing is hidden under hacking, and once they know the domain server itself, it's all done. This applies to any system whatsoever and the most protected assets in the world inclusive.

This is why some hackers smile when you say a thing is unhackable, they might trail it for years until they find the weak point to act upon.

Wow! Is that so, I never knew of such. I'm trying not to break any rules that's why I feel posting it here is better. I'll contact the mod right away...

I don't know but I think cex might be better in a way if we don't look into the centralised aspects for a second. Now, we know how coins are getting listed every day and everyone is eager to make money not minding what link they click on as far as they get what they want. Same can't be said for cex. You don't need to click here and there and avoid giving hackers your information

EarnOnVictor

hero member

Activity: 896

Merit: 654

Leading Crypto Sports Betting & Casino Platform

You can't be wrong about this, but first, why are these posts in the altcoin section of the forum? They are better in the main section of the forum to gather more recognition and reading, even as it's the right place fitting for this post. You might want to contact a moderator to help you move them (including those in the links attached) to the right section.

Well, there is no total security in the crypto space, I will always say that, but there are layers of security which I would like people to always consider for the protection of their money. Those who have huge amounts of money will always need offline wallets and so on, after all, they visit the internet not often, especially if they are to be held for long years. While others in terms of exchange, there is no way the DEX will not be better than CEX, but still, as you said, nothing is hidden under hacking, and once they know the domain server itself, it's all done. This is applicable to any system whatsoever and the most protected assets in the world inclusive.

This is why some hackers smile when you say a thing is unhackable, they might trail it for years until they find the weak point to act upon.

Topic: Nowhere is safe part 2 - page 2. (Read 432 times)