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Blockchain platform Nuls has lost almost $480,000 worth of NULS tokens due to a hack, according to a security update tweeted on Dec. 22.

In its tweet, Nuls said it had detected that 2 million tokens had been transferred, of which 548,354 tokens — worth roughly $131, 600 — had entered the trading market and were now untraceable.

https://cointelegraph.com/news/hackers-grab-nearly-480k-from-blockchain-platform-nuls?utm_source=Telegram&utm_medium=social

Will there be a remedy for the incessant hacks in 2020?

hacking there must be a cure, that is, from a very good security system but hackers will never stop because they occupy the job as hackers and also I think hackers are smarter than security systems

Second or third big hack in december. Terrible

Remedy is prevention. Cure for this quite hard to decipher even a tight security has been implemented. There are different blockchains and of course those new tech are still not safe from threats. Even bitcoin and major coins has been hacked before what more those new projects.

Hack is one thing new projects should be ready for cause this is one enemy that often lead to a very bad publicity just like this. Which isn't good for project and could affect its liquidity.

Well i won't blame them since security is still in embryo stage in this cryptophere. You can't blame a hacker for finding it easy to steal couple millions, the crypto owner should be blamed for that.

There is no perfect system and from my understanding it it wasnt mentioned of what kind of hacking was that. Correct me if I'm wrong but base on the article, there was a sudden transfer of those tokens which can lead to wallet hacking. 2% of entire supply was hacked.
They have already learned from this and it is really an expensive lesson for them.

There will never be a fully security network that cannot be hacked so I don't see 2020 safer than 2019 when it comes to crypto hacking. I know , its sad , we don't want to see news like this but its up to see to protect our assets and big project should be aware that a hack on them can happen anytime. This is the 2nd announcement of hacking a project funds in 2 weeks so lets hope it will end here for this year.

So, another hack at the end of 2019! The crypto never can come out from hackers, scammers and these are the main drawbacks of crypto! We started the year with the loss of an old crypto exchange which is Cryptopia and the year was full of hack incidents! I pray 2020 will be a positive year for the crypto lovers in every way where hack will be less to no more, BTC, ETH price will recover well and so on.

This is really serious, how can this be avoided, incurring such lost is hurtful. Hackers are sets of unavoidable people in Cryptocurrency, reason why we have to be absolutely careful to avoid falling victims.

This is one of the main reasons I think that many ordinary folks are really apprehensive to invest or incubate their life savings into this niche market because of the security risks involved in it. We need to really improve security and education in this space if we want to attract more laypeople to invest. I am very sad for all those people who lost their NULS today unless they can be compensated of course. I wonder how expensive it is now to underwrite your project or one of the exchanges. I used to work for Lloyds Underwriters in the City very early on in my life and I remember back then it was very expensive. Insurance in this fledgling market really must cost a bomb. I know Binance is underwritten and a few other places, but most places and projects have no insurance cover or the proper security against an attack of this sort to protect their investors, so we really need to be careful where and how we invest in Crypto in general.

These hacks are getting out of hand simply because all these project and also exchanges seem to less invested into the security side. they need to realize that it's crypto and one security hole could lead to the destruction of their token. I just baffled to see that they seem to never learn about anything even if the hacking always occured. more hackers are targetting crypto because it's all vulnerable money and people need to put their concern and put security as highest priority.

I ever heard that if nuls claimed to be the safest blockchain  but we know that right now if that is not more than another crap blockchain with so many vulnerabilities. If the developer can't create a solution to prevent the more vulnerabilities to be exploited by the scammer and I think the hacked cases will be remedy again next year.
Remember not so many blockchain platform know where is the problem that makes their blockchain can be hacked by the hackers.
that shows if the majority of blockchain developer is not competence especially when it comes to maintain the security system.

This is not only happening in the market of cryptocurrencies, this is happening everywhere, as we are relying more and more on digital communications it is obvious that hackers are going to find a bigger number of victims to which they can take advantage and when you add that very few people take their online security in a serious way this creates a huge problem.

The only way to reduce this is to take care of our online security as seriously as possible, this is not going to diminish the number of hackers and incidents like this but at least it is going to protect us from suffering the same fate.

Damn, we're almost at the end of the year but hackers are continuing their misdeeds but stealing almost half a million here. I guess everyone, including the devs, should look at their code so that there will be no exploits whatsoever so that they can prevent this happening in the future. They should do a test first on their code, before releasing it because hackers are always one step of the game and we don't want to hear this kind of news, specially at the end of the year.

This is indeed sad news I hate it when I read such news about hacking, because it gives crypto’s a bad impression and due to this kind of news people prefer to stay away from crypto’s. @nanaimogold the answer is negative one cannot stop hackers because at times it’s an insider person who passes sensitive information to hackers, other times it’s poor security protocols that are exploited.

Any code must be have the weakness and the hackers is usually really good at code breaking because they've tested many platforms and i'm sure if they able to took away almost half mils, they must be a group of people who doing the system penetration thousand times.

I think this will continue as long as the crypto world is still running. I don't really know if this is really a hack or just an issue that the developer made to obscure some money. It could also be to reduce the price of the coin so that there are some people who want to buy it at a low price. This is still very biased for me. What is clear, always be careful. It could be that one day hackers attack individuals instead of coin developers.

Again one more hacking incident happens in crypto and stolen worth of $480k nuls tokens and my point is how can the hacker target weak address and find the private keys, maybe in the coming days we can see more incident like this in crypto? or there is any way to stop this?

There is no way to stop this. This has been happening ever since. The only way to stop this is if the security of rich wallets are so strong no hacker could penetrate ever, which is not possible at all. Thus no way to stop this. And security is always a race. Sometimes hackers beat the security system and they win raking huge sums of money.

Hackers and security systems are ever evolving, and usually hackers are the first who brings issue to the table, so in a way, security systems are dependent hackers.

The unfortunate thing is, no system is safe. It doesn't matter how much you invested into the security there'll always be a hole that could be penetrated by the hackers though if invested massively to the security it could somehow bring more security or at least buy time for yet another improvement like all those internet giants for example google. I guess hacking activities will still occur in the future but I hope I'm wrong.

The hacking case that happened on the Nuls Blockchain Platform is not the first to occur in the world of cryptocurrency, previously the same case also happened with Bitfinex, Binance, and CCEX. This kind of thing is very difficult to avoid, because the majority of hackers will continue to carry out their evil intentions to carry out its mission. And to reduce hacking again, the platform must immediately improve security so that the same case does not re-occur.

Why very easy for platform on crypto hacked? last month Upbit exchange market hacked with many eth in their account today we got bad news with Nuls hacker and lost about $480k worth token stolen, why not many platform in crypto upgrade their security system and make bounty bug for their exchange to make is very safety later, why always happen the same hacked in crypto.

Hopefully there is a solution for events like this, investor losses can be compensated. Hacking attempts will always be there and I hope there is an increase in security so that hacking does not continue to recur.

we probably won’t see the medicine from the hackers. and most likely this will never happen. the only way to avoid such hacker attacks is not to invest your money in such coins. in the usual economic system, hacking attacks also always happen and they cannot be predicted or stopped. I choose the safest coins for investment, but I'm also not always sure that they can not be hacked or stolen.

I wonder how hackers were able hack a Blockchain/Blockchain platform. I guess the hackers stole the coin from a single entity. Or could be a centralized platform calle Blockchain by the writer. Article mentions "enterprise Blockchain".
I guess it's a good thing the company is considering ahard fork to reverse the hack. What then happens if the coins has been bought by another person?

It seems that 2019 hacking is becoming increasingly common and this usually happens on several platforms and market exchangers that have a fairly low security system, so hackers can easily take valuable assets, I think from a number of events that have passed should be a lesson for exchangers or other platforms should prioritize their security systems to be more sophisticated and difficult to hack.

The problem is that centralized  exchanges are vulnerable to hacks and we face the risk that they just steal our coins.

The answer is probably decentralized exchanges which are apparently in the works now. Supposedly with these, the user hold their own private keys.

Yet another hack incident to add to the list of hack cases in 2019, this year has been an awesome one for hackers and a bad one for investors, the two major exchanges that were hacked refunded their users the tokens they lost but these individual project hacks is usually the most devastating because the hackers would dump the token price in most cases and it would take a lot of time for the price to recover, if it ever does.

There will be no remedy as long as we uphold this decentralized system, hackers will continue to develop utilizing the freedom and anonymous nature of this system. The only way out is to always update the system of every coin developed, only that is the step to prevent it because hackers will always look for and find loopholes. Even though in a centralized system, it is still able to hack but at least it can be traced and not for here.

Well they are hackers and if the documentaries I have seen about them are any indication this is the moment of the year in which they are the most busy since people are using all forms of electronic forms of payment and they want to take advantage of that.

You are right when you say the developers should take better care of their code and their first priority should be to look for vulnerabilities on their code, but we are assuming they actually care for their project and for their investors something we know is not true in the majority of the cases.

The fight against hackers will be a long and very difficult one. Every time we upgrade security, hackers take it to the next level.
Perhaps the best way to combat hackers at this point is to always increase security.

This has been the biggest issue this 2019 and it will continue to happen this 2020, it's now up to investors to only trust exchange that can beef up their technology to the highest possible level, and those who can guaranty their trader's account and funds, and as long as there are hacking attempts Cryptocurrency will not progress and adoption will not move fast.

That's something they have to look unto, they are lucky it's not a big amount and we can really tell that this kind of incident is not quite new to the crypto already, this news is bad but there's worse than this in the past so they have to continue improving their security to prevent this from happening again.

Too many hacks were in this year

This is really bad and hacker make people afraid to invest/ trading in crypto world. I believe government already has cyber crime to handle this problem, we only need to make report into police station and let them work. Not easy step and maybe we only wait for nothing. Government is the only answer we have, they have resources to make safety for their citizen. Keep trying to find best method for our safety asset and never make transaction with stranger, that's not recommended at all.

this can be said to be a risk when you are trading or investing in cryptocurrency and the government or police cannot help deal with this, they only help to imprisonment while these theft cases often occur and often make the cryptocurrency name worse because of many cases of hacking like this.

If some information or the database of the server or computer has a permanent Internet connection, then here the chance for any character is already increasing.  The safest way to save information is something like a cold cryptocurrency vault (eg: Ledger Nano) and even in this case it is very difficult to give a 100% guarantee, because in this case a cold wallet can be stolen not by a hacker, but by someone else.  That is why a serious company has a security service that constantly monitors its systems, changes the password, access codes, and so on, to reduce the risks of hacking.

That's how fast hackers unanimously hide the stolen coins. This is not just some simple hacks, it took them some months or years to finalize their plan and on that day, they finally begin their mission. which will lead of course to some doubt regarding the investment in the crypto industry. This will make some newbie investors to further study the security on how to protect their crypto assets and some other to quit the crypto industry.

that comes from the nuls wallet and that means if investors are not loosing anything but the team is a part who has been getting a loss caused by this case. The developer is believing if the platform that has already created by them is perfect and that's why those developers are not updating their platforms regularly.
This is the problem when it comes to the security. The major companies spent a lot of money for the security improvements. this is a very important part.

You can't be any wrong on this at all because if these exchanges spend extra cash on bug hunting on monthly basis, I am sure a lot of vulnerabilities these hackers swoop on to their advantage would have been discovered on time and as well corrected

This is the umpteenth time, when a sophisticated defense system, the hacker also develops and adapts to that sophistication. It is undeniable that this will continue to happen, and what is astounding is the $ 480,000 token should just disappear. And of course you need a high level of intelligence to hack the blockchain.

Hackers will always find a way to hack exchanges, I mean we are talking about hackers here, that is what their job is and it is impossible to stop them, you can only hope they get away with as little as possible.

Even binance lost millions of dollars since it started due to hackers and we are now used to it, hell binance just paid from their pockets and moved on because that was easier. We just have to let hackers be hackers and steal money if they can and not focus on that, if we keep focusing on that all we can do is improve the laws against hacking (which they don't care) and improve the security to websites (which they will work harder and still hack) all of which is useless against a dedicated talented hacker. This wasn't the first time a hacker stole money and it won't be the last.

Hackers usually moves ahead of the security that's why I can say that there is no way hackers can be stopped. Though there are instances that solution to hacks is achieved but it's only temporary and still hackers find ways to do their crime.

Hackers keep studying over and over so there's no sense to say that you can be free from their site once you have good protection. You always need to keep improving so countering attempts will keep succeeding. Developers have the responsibilities as they needed not to stop keeping their tokens safe by  stricking policies for their securities.

What a bad experience to end the year. They also have a fault for not securing their system very well. Although hacking is really unstoppable in the internet. If this cannot be prevented, maybe in the future this will become one of our major threat in crypto.
I don't know if this can be stopped. If there are smart people to upgrade their security, their will always be smart people who can still hack it.

No system will ever be 100% secure, there are always weaknesses that can be exploited by those that have the resources and the intelligence to figure out how to take your money away, however this is not a reason to give up and accept defeat, increase your security as much as you can and never reveal the amount of coins you are holding if you do those simple two steps most hackers will ignore you since they will not know how much coins you are holding and it will simply not worth the effort to try to hack you.

But you need to always be vigilant because you only need to make one mistake for hackers to get your coins and never see them again.

Crazy how many hacks we've seen lately. Guess why? Centralization!

This is why I stay away from ERC20 tokens in general, these premined projects is not worth the risk IMHO.

I'd much rather accumulate a project like Blocknet, who's one of the most decentralized projects I know off. Not only is their oracle solution (Xrouter) decentralized in the way it's running (through service nodes), but their DEX itsef is the only real DEX on the market, despite all the wannabe projects claiming to be "decentralized", when really, they are not.  ::)

Somebody got a very expensive new year present for such money. It is not even funny anymore, that every single day, there is a new thread on Bitcointalk about some new scam project that seemed to function well.

I have got a lot of applauds for blocknet too. Its architecture is totally decentralized and represents the true nature of crypto. We can't really overemphasised the need for a decentralized crypto market irrespective of the fact that the incessant hacks might negate my claim. While hacks can't be totally eliminated, I think the security structures of the exchanges and crypto platforms are constantly breached because of the lazy attitudes of the platforms towards development and improvement. I mean, Hackers improve their tech and relearn daily, why areemt most crypto exchanges or platforms doing that.

What happens is that most people have the thought nothing bad is ever going to happen to them and they never take the right precautions to protect their coins or they invest in coins that they believe may be worth a lot of money in the future not thinking they could make a mistake, basically they only think in the positive results they can get but never in the negative ones.

And when they finally realize they have made a mistake it is too late to do anything about it, it is getting old that almost every day we have news like this but it is inevitable until people decide to take better care of their security and their money online.

It's the reason why they have to change their mindsets because they will only feel remorse at the end if they keep thinking that way particularly knowing that hackers are capable on doing anything for the sake of money. They will always look for opportunity to take advantage of you so they can get the benefits they wanted that's why we can't assure ourselves that our funds are safe and secured. They don't analyze the possibilities that's most of them end up losing their own money, they don't realize that a single mistake can make a huge impact on their lives.

And the most incredible part is that it doesn't really take that long to secure your coins and it is not really that difficult either, the only thing that you need to do is to install a secure operative system in your computer that is not full of backdoors and viruses, then you need to install a wallet there and verify that the wallet comes from the original sources, then deposit your coins in your wallet and finally to not use that computer to install software that may be infected with some kind of virus.

If you do that then the chances that you are going to lose your coins are very close to zero but people are too lazy to do all of that.