Topic: Security measures in casinos are better than exchanges! (Read 362 times)

Yes, there's no proof to it but rather this is really just that an assumptions basing up on what we are seeing.I cant remember on how many exchange platforms that being hacked and how many gambling

site or platforms had been breached or exploited out.Making up some comparison about these exploits are totally useless or not really that relevant considering that this is really just losing money
on whatever company that it would really be that affected. This is why it would be that better not to mind yourself trying to find out which one does have the greatest number of hacks and exploits
in regarding on the service and things that they do offer in the public. Security measures? It would really be just that normal but we know that there's no such thing about not being unhackable on this world but we know that security measures should really be top-notch in speaking in correlating themselves into business which do stored out tons of money which it is one of the most important or
the main priority when running this one.

Trust is built up overtime on the time that the community do able to see that they could really be able to trust on the platform that they are really that using and this is where popularity
and ranking would really be relevant on each other and we arent that blind of it.

Well, this is a very interesting question, although it could be that exahnges are more targets for hackers to attack, because I think that casinos also represent money and they can also be attacked, I am inclined to think that casinos can be attacked more , Due to all that is being seen now about AI , about games that can be rigged in sports, due to this series of things, it can also be a vulnerable and good target to be attacked , however it would be Interesting to see where these Statistics could be found. Because it would be very good to know, when we don't Suppose to think that it Would be as easy, well I don't know, because both exchanges and scasins invest a lot of money in their security, more than they store a lot of money and that's something Significantly, it could be thought that things when with crypto have to be more vulnerable , because wherever transfers enter their wallets immediately, this type of thing is what every exchange, every casino must verify. and manage a lot of the money, not that it is there but that it has a special protocol so that it can be withdrawn.

In the casinos they are making security updates every moment, at least that's what I have seen in stake.com when they do their maintenance within the platform, it is not surprising that they have security specialists with AI for your security, because this casino It handles a large amount of money, but as for the exchanges, yes, it's true, the exchanges handle much more money, and it's more delicate, I don't know if you remember, but the time Binance was hacked, they hacked it with a whole google 2FA authenticator, for the hackers that was not a problem, they still hacked it and did everything they had to do, they Stole many millions of dollars, even so, the security of the Binance exchange is now one of the strongest, because with all the help they I think that the most important things to invest in are always robbed, for sure.
In the casinos they are making security updates every moment, at least that's what I have seen in stake.com when they do their maintenance within the platform, it is not surprising that they have security specialists with AI for your security, because this casino It handles a large amount of money, but as for the exchanges, yes, it's true , the exchanges handle much more money, and it's more delicate, I don't know if you remember, but the time Binance was hacked, they hacked it with a whole google 2FA authenticator , for the hackers that was not a problem, they still hacked it and did everything they had to do, they stole many millions of dollars, even so, the security of the Binance exchange is now one of the strongest, because with all the help they I think that the most important things to invest in are Always Robbed, for sure.

The hackers mostly target the exchanges because the number of users in the exchanges will be more in number as compared to the gambling sites.The amount of dollars hold by the individual in the exchanges will be more as compared to gamblers in their gambling sites.The security measure was same in the both gambling and exchange.The exchange had a seed which is additional one compared to the gambling site.The exchange had more attack by the hackers,So the exchange had seeds and phase to login.This seeds and phase are unique to exchange as compared to gambling sites.

My personal impression is that exchanges suffer more vulnerabilities than casinos because they are the most obvious target for a hacker who wishes to steal millions of dollars in a single hit. Besides, an exchange may have more employees, which could be translated to an increased risk when dealing with social engineering.

I have personally set some strong security measures in the exchange I use, and I feel rather safe with a security key. It is an option I have not seen in other casinos, most of them rely their security in 2FA tokens which are stored in one's phone.

Also, it could be that casinos which suffer those vulnerabilities are not such important news so everyone ends up knowing about it or reading it on the internet.

Not true. Both, the casinos and the exchanges have equal risk of getting hack or breached. It is just that the hackers or criminals target exchange more than casinos because it is more "profitable" for them to go after exchanges. And it is not true that casinos don't get hacked. There are thousands of online casinos and you will  hundreds of cases where casinos have been a victim of getting hacked and losing user funds. Never store your coins in a casino thinking that it will be more safe than exchanges. Always use your own wallet where you have access to the keys and keep the wallets secure.

I certainly agree, lots of casinos have been hacked but there isn't loud news about it since they're just small casinos compared to big exchanges which are known to have huge funds and that's the reason why they're being targeted by hackers and scammers. Strong security measures is necessary to protect the users whenever its a casino or an exchange because to be honest, hackers are getting even smarter now. They also improving each day and they're always trying to look for better ways to steal other people's funds so we always have to store our funds in a safer wallet.  

Well, how I choose to view this is that, with the rate of how crypto exchanges are hacked, and the same kind of hack does not seem to happen on online gambling casinos , it only points to the fact that most hacking done on crypto exchanges are as a result of an insider job, like I mentioned or stated on my previous comment, exchanges employs way more staffs than gambling casino , basically, two or three persons can manage a gambling casino , but for crypto exchanges, that is not possible due to the complexity of the systems ,and like we all know , the more the staffs employed, the higher the chances of having a bad egg amongst them .

Based on my experience never seen a casino get hacked or they just didn't broadcast and just happened when their server is down, There's no safety right now in the internet so just one mistake all the hackers now can easily make an injection with the system and now have a fully access without getting any trouble, still possible hacks but the casino must aware with the possible attacks for sure they already make a lot of defensive security to make sure there's no possible vulnerability on their system or the device they are using, those security is just a small portion on them as expensive than the number of earnings they could get to their players so don't hesitate to invest in security not only for casino for all too.

It's not which one is better, it's the question which one has the biggest "pot". And with that, my vote goes to the exchanges, and most likely it has set the precent already when Mt. Gox was hacked, every hacker and criminals in the world dream of hacking a big exchange and taking all the loot.
And for those who are not aware of, there is a certain group, called the Lazarus by the communist North Koreans who has been put up by their government to target all exchanges in the world and steal millions of dollars. You can check it out yourself if you have doubts about this group.

Let me say that maybe this was just your own assumption but I don't think there's anything to proof this because exchages close down and likewise casinos or any gambling platform may ceased from operations due to any reasons, but we have to reason along that both were hackable, knowing this alone, how much attention do this centralized network make adequate preparation for the security measures against their system being attacked, who are the developers that controls the platforms, are they reliable, do they focus on building a strong security network or they are after making their own money and spending less for maintenance, the two have almost same risk and I don't think i will vote for one being higher than the other.

I think both casino and exchanges are prone to breach and hacking because both of these holds great amount of money. And I don't think it's fair to compare both security measures because these two provides preventive and protective measures in order to make their players/customers safe and secured. If there is really a data which confirms that exchanges have more cases being hacked than casinos, well it doesn't necessarily mean that their security measures are better compared to the other. It's just happen that exchanges are being more targeted by hackers. And of course, maybe hackers see more money in hacking exchanges than casinos.

there are probably a lot more attempts to hack an exchange than hack a casino!!! It's more rewarding for sure!   

But if you go to see in detail the cases exchanges get hacked or in which there was actually a failure due to an external attack are actually not that frequent and mostly can be related to scams etc....

Both platforms also have a strong reputation for security and reliability but many times it does not protect users from possible hacks and scams. It is true that casinos have less scams because they are well managed by different teams and developers. The reliability of the exchanges is very low various scammers opened new exchange sites and it increased two or three times after a few days. Then after a few days, they saw that the market has gone down in such a way that there is very little chance of going up. Then the investors suffer a lot. Then they lose a lot of money and fall into the hands of hackers scams can be avoided if they are monitored properly depending on the individual.

Of course, this two platforms have the best security measures in the world because it deals with huge money to begin with. But the hackers have been described as one step of the game, so regardless which one has the best security measures, they can still hack it if they want. For sure both exchanges and casinos have teams to monitor everything in their system and flag if they see some suspicious activities.

But still depends on the criminals, as they love to target exchanges because of the huge money in their wallets that they can easily hack.

It will depend on how good the security team is from each exchange or gambling site. If they have a good and highly skilled security team, it is less likely that we will hear of the site being hacked and vice versa. But there is a possibility that either the exchange or the casino could hide the news about the hacking that happened in their business from the public so that no one knows.

But indeed, we hear more about exchanges experiencing hacks than casinos because what happens to exchanges might be spread by irresponsible people so they can take advantage of the situation. In other words, if there is news that an exchange has been hacked, it will immediately affect the market and the prices of those coins will fall including the price of bitcoins. But if any hack happens in the casino, it won't affect the market price because it's not a crushing attack for the traders. Even though there are parties who are disadvantaged in this case, namely gamblers, the market continues to operate normally as usual.

You're not digging enough there have been hacked casinos in the past, but compared to casinos they did not create a big noise in the community, because there are more users in exchanges than casinos, and the community is actively trading every holder has an account on exchanges so it's a big concern if exchanges are hacked.

When it comes to hacking number matters, Hackers will prefer to hack exchanges because of the huge funds involved.


 

Gambling casinos do not have better security than crypto exchanges my friend, the reason why there is less or no hack and breaches in online casinos is simply because , gambling casinos usually do no have as much users and staffs compared to trading exchanges , and again is that , most gamblers do not leave their funds on online gambling casinos , and when they do , it's always a very tiny amount , but on crypto exchanges, many traders leave coins worth millions of dollars on their accounts , which is very juicy for the hackers if they manage to hack the exchange , and also , the hot wallet of crypto exchanges usually hold coins and tokens worth hundreds of millions of dollars if not billions, but no body even knows the hot wallet address of online casinos , this is if they even have a hot wallet .

If I were a hacker and given the choice to choose between the casino and the exchange I would be hacking, I would probably choose to do a big exchange hack because there are a lot of funds stored there compared to the casinos.
That's just an assumption and doesn't mean the casino doesn't have a lot of funds.
Hacking will be done by hackers not choosing and when many hackers target exchanges as a place to carry out the action does not mean that the casino is safe from hacking. Maybe it's not up to the casino action that they are doing at this time.

As a precaution, neither casinos nor exchanges are safe places to store funds.
Learning from my experience, don't also withdraw all funds at the casino by emptying the balance because you won a bet, there are casinos that won't let players do this. At a minimum, save the funds you get from big wins, around 30% as capital to play again.

Your argument is oversimplified and illogical. You claim that the lesser number of reported incidents means higher security. This could be true but could be completely false.
You need to compare the scale and specifics of those 2 industries. Exchanges are an order of magnitude greater than casinos (we're only considering crypto-casinos here) and have way more complex crypto-related operations, therefore have more vulnerabilities and attract more attackers (as the incentive is far greater).
To give you an example: if I had a mobile crypto wallet downloaded from an unknown source and had my seed phrase written down and lying around, but never been hacked - would that mean my security measures are better than those of exchanges (or casinos)?

You can't compare the amount of money in an exchange to a casino. The ratio of people who leave money in exchanges are higher than those who leave money in casino wallet.

Yesterday, there a topic on whether an individual should save their money in online casinos. And almost every body thought that that was such as terrible idea because it leaves room for hackers to start sniffing around online casinos. Casinos are like restaurants, you go in there, eat, pay for your meal and you are out. You do not keep your money there, neither do you stay there that is why restaurants have less robberies than banks.

They both have higher numbers, anything without tightened security would be easily infiltrated by hackers trying to defraud individuals, therefore the best approach is to take preventative steps to avoid scams proceedings. Crypto exchanges and casinos fulfilled the same purpose and increased security. Hackers focus on both sectors to get hits and extract large sums of money from their victims. They accomplish this by creating and disseminating anonymous emails that could potentially link directly into a user's account if the user unwittingly clicks on them.

Do not compare an exchange with a casino, a crypto exchange is like an online bank but in the crypto world where people can exchange valuable assets, there is no such thing going on with a casino.

Tell me why should a casino get hacked when most money deposited on their website or platform is already theirs? It takes luck to make it yours again and that's if you win their games, so tell me, what much security would they need? They are going to settle you back from their pocket if you win anyway.

Do you also know that crypto exchanges have much number of people and their money on the platforms compared to casinos? So many people are still scared of gambling till now and they choose to stay far away.

You still want proofs for exchange hacks? Ironic.

Anyway, you can start from Mt.Gox to Binance every exchange faced hacks and the proofs are below

List of Hacked Exchanges, since 2011

List of cryptocurrency exchange hacks

For casinos:

Primedice Bitcoin Gambling Site Hacked for $1M

Vulnerabilities in gambling websites in past

Clearly you can see which one fell more as victims, I am not bullshitting here, I felt it's a valid argument, and Its not a valid point that hackers attack only the crypto exchanges so casinos are safe which isn't true cause hackers can attack the bank account even if it has balance of $100.

What you say is nonsense that you say simply because you think it and you don't provide any weighty argument to back it up, no data or anything else. You mean a small casino has better security measures than Binance? Think about it.

The fact is that there are many more hackers trying to hack Binance than a small casino, because the prize pool is much bigger.


In the end, since we have no concrete data, this is a thread that can turn into a mega-thread in which we can only speculate.

Many of you guys claim that casinos are often hacked like the exchanges but I don't see many casino hot or cold wallet hacked by hacker on the other side every crypto exchange including Binance hacked so that is what I am talking about.

Who are talking about account frozen by casinos, providing 2FA as security and blah blah, please read OP carefully before replying.

Casinos are dealing with big amounts too, and most of you wearing signatures of casinos so I suggest you to go and take a look around the wagering amounts in the history section of any casino to find how much we are talking.

Do we have data that confirms that there are more exchanges hacked than casinos? Or do we have data that say there are more hack attempts on exchanges than on casinos?

I agree with many opinions here that exchanges are probably targeted more because there's so much more money there than on casinos.

However, we really cannot make a general claim. The largest crypto exchange must be bigger than the largest crypto casino, but there must also be a number of crypto casinos that process more money than many exchanges.

And it's not as if casinos have uniform security measures and exchanges have also their own uniform measures. Security systems vary from one casino to another just as they also vary from one exchange to another.

Maybe it's more related to the fact exchanges have the largest balances in the hot wallets, so they become the favorite targets of hackers, while it wouldn't be equally profitable for them to focus on casinos when applying their hacks. Also, we can't take every claims of hacks as legit, because the exchanges operators can just spread this fake information to hide a rug-pull executed by the operators themselves to scam customers and leave without suffering the consequences. I would say most of the hacks around aren't hacks for real, but exit-scams played by CEOs and managers.

Not really, I've heard of a casino getting hacked a while ago, this means everything in online could be hacked while the owner doesn't care about security. One factor a casino rarely hijacks because not many people play the casino than put the money to exchange. even if hacked, not much money the hacker finds when compared it to an exchange. Maybe both use the same security vendor, so if there is a chance, the hacker will take precedence to hack the exchange first, after that they just hack the casino.

I would say this is definitely false. Casino's may just not be as widely publicized, but definitely there have been hacks of many casino platforms. You could probably look around here on the forum and find a few sites that have claimed to be hacked. BetKing comes to mind when thinking about it.

I think it's that most of the media are just focusing on these breaches that mostly happening in exchanges. And that's why they're getting more exposure than the casinos. The betting sites are no exception when it comes to these attacks but, I guess the business is more with the exchanges and that's what are people interested to know just to take flame on the market and put it to their audience. Just noticed that, so there's bias in reporting. However if there's a stat that provides that there's not that much breach that happens in casino then that proves it. If not, then that only sets the idea that we see articles focused on dealing and publishing headlines related to crypto hacks.

Although gambling websites have improved their security measures, I will have to disagree with you. The most major exchanges, such as Coinbase or Binance, are established financial institutions that deal with transactions worth billions of dollars on a daily basis. Of course, they take security extremely seriously, which sometimes makes it tiring and annoying. Binance requires two separate 2FA authenticators just to log in to your account: one code from your phone's authenticator app and one through your email. I had once requested a 2FA reset on another reputable exchange, and the whole process took over 2 to 3 days to verify my identity.

Both industries have suffered from exploits that are almost impossible to prevent, as hackers keep finding ways to penetrate the top-notch securities of these institutions. Fortunately, I don't recall any major recent hacks, but I might be wrong as well.

There's also a security problem in crypto-gambling sites but we just don't hear those cases most of the time. In crypto exchanges, even the considered Tier III exchanges are being widely in focus once there is confirmed security-breach-related stuff. I even believed that security in crypto-gambling sites is much more breachable than in exchanges. If you don't see casinos got hacked then maybe you are staying only at the one side of the internet.

Generally, there are also lots of crypto-gambling sites being hacked, and at most cases, that situation will just come and go and then will be forgotten.

If hackers will focus more on gambling sites, we should also see the same situation with the exchange. But that's not the case.

Anyway, what's the point? Do you mean crypto exchanges do have poor security compared to gambling sites? No. It's just that when exchanges got hacked, they received more attention as they were an exchange platform, having more users than gambling sites and playing a factor in the price behavior in the crypto-market.

If gambling sites are being hacked, the news isn't that big that's why you end up thinking that exchanges have worse security compared to gambling sites. Overall, based on my own view, gambling sites are more prone to be hacked since then than crypto-exchanges. Again, it's just that when crypto-exchange gets hacked, the news about that is big in most cases.

That only means that most casinos are investing in their security or have people that are working hard to protect their systems and operations 24/7. While for the exchanges, they're probably just doing the same thing but it's that they're more targeted by the hackers and that's why they're inventing and discovering more ways to abuse a little hole that they see and attacks it through it.

Another thing is that, when these hackers do it at the same time and they're more with the exchanges, the success rate that they're doing is more than the casinos. But who knows, I don't have the stats for that.

Since casinos have fewer users than cryptocurrency exchanges, some transactions may go through manual confirmation. Therefore, casinos may be less likely to be hacked. Also, if a cryptocurrency exchange is hacked, we all hear about it, but if a casino is hacked, it's not even newsworthy. I don't think casinos are more secure than cryptocurrency exchanges. But, fundamentally, both are not secure because both are centralized systems. Never trust them too much.

I'm pretty sure that exchanges are far more capable in deflecting hacks and attacks on their systems. It's just that they have more money in them hence why they're being targeted more. Gambling platforms are also heavily beefed up when it comes to security, but their volume is smaller compared to exchanges that are moving and facilitating millions of dollars every single day. If your platform is doing that, might as well improve security in every way possible.

Many, if not most of the casinos used online are operated from exotic jurisdiction and often unlicensed and unregulated in the countries they provided their services in. Which means, that if something goes wrong, they wouldn't care to inform their customers to not scare them away.
Big exchanges are mostly regulated (one way or another) and have to follow much stricter requirements, including keeping the customers informed of any breaches.
Also, the top exchanges are much larger than casinos, so any hack of the exchange is much more "newsworthy" than of the casino that most people haven't heard about.

^ This!
First, the number of users plus the amount being held and that is the reason why gambling often hack more than exchange.
Because the potential financial gain for hackers in breaching a cryptocurrency exchange can be immense due to the large sums of cryptocurrency held and traded on these platforms in exchange. Plus another reason could be, that crypto exchanges handle a massive number of transactions within short periods, potentially creating more opportunities for hackers to exploit vulnerabilities. Probably that was a reason and I think it is not all about security.

Maybe it's not about security though, it's about how much money crypto exchanges has at a certain time as compare to crypto based casinos. And for obvious reasons, and even if there are like thousands of gamblers around at a certain period in a casinos, I doubt think it can beat the numbers of crypto traders in a given hour or even in a minute.

And that is why exchanges are a target for this criminals, as it can house a millions to billions of dollars and most likely they have security lapses that this criminals studied and explored.

If you frequent the reputation and scam accusation board you’ll see so many threads of users complaint that their account was somehow compromised and they don’t know how an unusual activity (like their money being withdrawn) happened in their account with out them knowing and sometimes they even blame it on the casino for not being able to protect their system properly.

But in the case of information leakage in a casino, I haven’t really read any threads here about it but I have for that of exchanges, but that doesn’t mean that they are totally secure from hacks and it can happen at anytime.

There's no proof into that but in speaking about the difference between exchange and gambling sites then when it comes to technicality or scope of its service then we could really tell that exchanges is

more that technical or more complicated in regarding transfers and we cant really be able to deny in speaking about the volume that  goes in and goes out and having that tons of payment methods and other services that had been attached which simply shows that the higher the number the more possible chances of things to be exploited and since casinos are only focusing on one thing which is on the
security of their site and there would be no breaches. Im aint saying that exchangers doesnt have but since to those lots of possible holes then maintaining could really be a pain in the ass.

Comparing the number of exchange hacks and casinos then there's really those differences but come to think that if im a hacker then i would definitely be targeting exchange
platforms knowing on how many millions been circulating on this platform rather than on a gambling site. Right?  

You shouldn't even be comparing casino security measures vs exchanges security measures, in the first place.
They both have their own threats and risk they are prone to and that is where they strengthen accordingly.
A casino may be bothered by hackers or scammers, but am quite sure it would be harder to bother much bearing in mind the physical nature of their modus operandi. They may be more concerned with theft, vandalism. For hackers they got these days too and the best is who they hire.
It is not same as an online exchange that one might find it hard to track down the individual, mostly in the decentralized network. The security measures will be more strict inorder to dicepher bugs, AI , human, hackers.

That's what I've been saying, you literally just paraphrased it lol. It's happening all the time, arguably at the same rate that it happens in regular exchanges. The thing is that people are just not that fond of hearing about exchanges losing millions of dollars in 10 minutes due to hacking than a couple thousands of accounts from different gambling sites losing all their funds through a hacker attack. It's literally just easier to fetch data and scoop about exchanges than it is to gather news about gambling sites crashing due to hackers.

It's not a matter of what's more secure and what's not. It's all about which one's going to make more clicks in the long run at this point. And since exchanges are a hot topic in crypto right now, they are getting the brunt of the work.

I don’t believe this because as what I’ve noticed, there are also some hacking incidents on gambling sites wherein not only they stole money but also the personal information of the gamblers as well, or they hack some online casinos just to make the games rigged. However, it’s also undeniable that hacking in centralized exchanges is high simply because there is huge money in exchanges. That’s why be cautious not to put all your hard-earned money in exchanges, as they can be very unsafe for fiat or crypto deposits especially on unsecured centralized exchanges.

Hacking is not only common one to the exchanges,it may occur in the exchange in large number.But the hacking will be targeted in the casino website with the account holding high price amount.Mostly after the big price amount the same will be reflected in the social media by the gambler or by the website.So the hacker start to track the account of the gambler.Now casino also provides all the security measures and giving KYC as mandatory and enable the 2FA as like the exchanges.The casino is secure as like exchanges now.

I think that exchange owners are more greedy as for me the majority of those hacks and breaches are inside jobs.Nowadays if a site is designed with security in mind it is very difficult for the hackers to get in.Also casinos have little to medium money to hot wallets and most of the money they keep it in separate cold wallets,a practice which should be also done by those exchanges.I don't think the security is better in casinos or exchanges,it is just that exchanges when they reach a certain level they create those breaches as exit scams,only true ones like Binance keep going.

That's a massive misinformation brother. Hackings on casinos happen every other day in here too. I'd argue that it happens as much as exchange cause hell, there's nothing that's different about these two anyway when it comes to security features. The thing is that since centralized exchanges are on a keen eye given the fact that news outlets within crypto and out are looking at its whatabouts, you'd get more news about hackings in centralized exchanges compared to casinos.

They offer the same thing, KYC, 2FA, the works. It's all just about the sensationalization of the media that's targeted towards these centralized exchanges. nothing more, nothing less.

I do not think that gambling sites security is higher than those of exchanges, but just that exchanges have higher amount of money that attract hackers.

Be it exchanges or gambling sites, any coins that you want to hold or save, do not leave it on any centralized site. The money that you want to use for trading should only be left on exchanges. Also only the money that you are using to gamble should be left on your gambling site account.

We heard that data breaches and hacks in the crypto currency exchanges are more often and almost every exchange faced that but when it comes to casinos they're actually better in that isn't it cause I don't see any casino's got hacked like exchange which means the casinos are having better security standards when it comes to protecting the data and funds.

If that so then how is it possible for the casino why not by the exchanges.

Your thoughts!!!