Bitcoin Forum

It is reported that by forbes.com that $4 billion worth of cryptocurrency was lost to scammers through Hacking. It even claims binance in May lost about $40 million to Hacking. This development has lead to development of new cryptocurrency projects mostly exchange claiming they use quantum resistant which helps protect against the theft and Hacking of individuals wallets on their platform.
Won't this be a dimension to which another scam springs up

I am sure that scammers/hackers will improve their skills as well as protection methods. get rid of scammers forever will not be possible. even the existing banking system is constantly hacking

Indeed, we can't easily get away from them because just like what you have said they will do anything whatever it takes just to deceive other people and take advantage on them particularly for those people who doesn't have enough understanding on how they can secure their assets. For that reason, we need to be more cautious to avoid having some problems when it comes to scammers.

Promises and sweet talks is where they get their money. Many new investors still fall for "great ideas" and I won't be surprised if they start giving out their money to these developers with "great potential" projects. We'll see where this quantum resistant craze leads the crypto exchange market.

Surely scammers can exploit this. They know what's happening and they can utilize the latest information to enrich themselves

There is no exchange that can protect your funds with 100 percent safety. Sooner or later an exchange would be hacked or have another issue, the main factor is how exchange management is going to handle this, because nobody really cared about Binance hack, because all the funds were restored.

"quantum computers" and "quantum resistance" has turned into the new buzzwords of these days anyone who wants to fool others into thinking their product is secure are using these terms!
the funny thing about this case is that exchanges don't get hacked because of the encryption technique they use! they get hacked because of lack of it or because of their flawed overall system that had easy ways of getting hacked. and not to mention all those exchanges that scammed their users and called than a hack.

Exactly. No matter what kind of resolution they'll do still these hackers will upgrade. I hate these hackers because they really are making the reputation of crypto bad in the eyes of the newcomers and no coiners. But they are not only existing to the crypto market and most of the people don't know about that. Because they are hot in crypto and there's a huge money that's involve with the news and reports, this is preventing the newcomers to come.

no system is really safe,
hackers will always be there and will attack exchangers, especially DEX and cold wallets, it's more difficult to hack than an exchange that uses a hot wallet, for example cryptopia and until now still can't recover. my advice how to make a development we can transact without using the internet, if this works then I am sure every exchanger will be safe.

Most of the 4 billion dollars were most likely stolen  from exchanges

Are you doubting the availability of quantum resistance solutions for cryptocurrency exchanges or you think most(not all) of the claims are lies?

Well, I think the developers, whether or fake or not, realized that people are in desperate need of safe exchanges due to persistent hacking of cryptocurrency exchanges these days

The key to safety of crypto-currencies exchanges is in the development of Decentralized exchange. Anything hosted online and is centralized will invariably be susceptible to hacks. I do not think any exchange can offer any absolute security when it comes to providing security of user's funds.

As long as as centralized exchanges are on the market, security is really a prone to hacking. But if they just launch their own decentralized exchange then hackers cannot hacked the system. Its hard to say right now that centralized exchanges cannot be hacked. Hackers are developers as well that's why they knew the flaws on the codes.

As the exchanges and online banks secure their assets through different software and hardwares The hackers are also seeking and learning more and more methods to penetrate or breach the security.

Trusting new exchanges is not a good idea and most people are not going to simply trust their words of trust level.It will take time for them to build reputation in the meanwhile time scam exchanges will fade away so only believe the exchanges after years of showing good attitude to the community.

We cant really blame them, in order to market their exchange they need to said and promise this things because this is the most common problem of centralized exchanges. Is that it is very prone to hacking and no exchange are secured enough for the hackers not to hack their system.

That protection thing should be only tested whenever there is a challenge to gather all different programmers to hack the security of a program. And the person to be selected will be the guy to raise the security of a system. Besides that illegality is concerned.

When its come security  issues  its  doesn't matter  if the exchange  new  or  old.Every business  has  it way of marketing so every exchange  promised heaven when it  come to  security. but its  up you a trader t o secure your  self  first.  even  Binance we all trusted was  hacked.  and one thing we have  notice is that  internet  is 100 percent secured.   

We don’t expect them to all rely on one single technology, it is just like when you are using a particular drug for a sickness, it is believed that the virus causing the diseases will develop resistance to it and will not work for them again, so the doctors have to look for more ways to develop a strong one.

This is the same way that I really expect those blockchain security experts to keep changing their hands of their security because these hackers too are wise to always boycott most security system, you know the hackers too are well trained, so it’s a battle between the good ones and the bad ones, if they say the new quantum system will help, so we should give it chance even though I know it would be temporary, it would not be long that hacker will get to this one too, and I know that in future, another one will still come.

We always need to develop ourselves and safety. Fraudsters are also evolving so we should not stay the same.

No matter how strong the security of any exchanges is, either new or old hackers will always find a way to breach them and they will successful run away with funds, the one way exchanges can escape hackers is to change their security from time to time

This issue wont stop, because the more there is upgrade the more scamers and hackers are at work, what i believe strongly is that most of this hacks are inside job and always there is an insider working out plans of hack with hackers  and they are sole mind behind more hacks

No exchanges are immune from hacking, even your own wallet can be hacked by the fraud expert scammers. If you're not an active traders do not keep your coins in the exchange it should be in your own wallet, because even the old and  reputable exchange is still at risk.

Hackers are very comparable to scammers, they have same motives and aims and they don't have the giving up spirits just like how devoted you are to aiming for better life, they won't stop until they jail break any security claimed exchanges, no matter how strong the exchange claims to be it can be jailbreak

There is no way to get rid of hackers and scammers off the face of crypto world, presently all new exchanges are claiming that their exchange security is better than the rest well its all lies, they are only saying this to gain the heart of investors and promoters, hackers will always be among us so its left for us to watch out for this con artists

None of the exchanges ca bring an impenetrable security option but its good to see that quantum computers will engage into cryptocurrencies specially with an exchange besides facebook doing a coin therefore I will watch if they can compete with the current ones that are on top like Coinbase or Bistamp or even Binance.

What is still under question is the fact that we're still years away until we gonna see an exchanges based on this tech or maybe who knows they already developing it without public knowledge but exchanges will always get hacked no matter what :(.

I very much doubt that any exchange will use a quantum computer for protection, because it is very expensive.
Perhaps large companies with funds for this kind of technology will provide security services to everyone else.
However, will exchanges go to such a degree of centralization. As far as hackers are concerned, they will not even have the opportunity to use such expensive equipment.

yes of course, when the security system is upgraded of course they are the scammers will continue to do various ways to get through it.
and maybe those who make this development act as one of the scamer, until they can prove that they are not part of the scamer.

The issue of hacking can't be stopped cos each day the hackers keeps developing and upgrading their hacking software. No exchange site is safe anymore cos there are organization whom specializes more on hacking into exchange site