Bitcoin Forum

Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.

Well, can you please name that exchange platform that you have said that hacked. There are certain exchanges that have been hacked but everyone has been considered as totally lose and moving on. Perhaps you are choosing the wrong exchange, --just like what happened to finance exchange they hacked last year but they are able to return the traders fund that has been hacked through their SAPU wallet.
Well, just forget and move on if you have been scammed, but it sure that it won't happen by next time.

Just get used  to it since this isnt the only thing that would happen in the market in future years to come and if you've been  here on this place for a quite while now then you wont really have that kind of insecurity yet this is just like a typical stuff that can happen anytime where hacks, scams/frauds is the part of the ecosystem. Hackers are always  there no matter what market you get  involved into
as long it do involves money then expect that these kind of certain of events will happen.Dont worry about losing popularity because it is still far from reality.

Hackers succeed to ruin the reputation of many exchanges and most of the hacked exchange are already closed and if its continue to happen in the future, then those exchanges are not worth it at all. To overcome this situation, don’t put too much money on exchanges instead put it on a wallet where you have a control. There’s a lot of scams before and fortunately, cryptocurrency is still good and continues to grow.

To be fair, some of the bigger incidents have been inside jobs (like Cryptsy and whatever the hell happened at Mt. Gox).  But I'm not arguing that some of these exchanges have sub-par security, and some of them (like Binance) have legitimately been hacked. 

None of that seems to be souring people's opinion about crypto, however.  Judging by the posts I've read here over the years, it's kind of become an accepted thing that exchanges should be assumed to not be secure unless they've been proven otherwise.  One piece of advice that's given the most on bitcointalk is to not keep funds on an exchange for long--and it's good advice indeed.  But none of that has kept people from being passionate about crypto, and I don't suspect it's going to be a problem even if we continue to see huge hacks on big exchanges (which we probably will).

I've also noticed that a lot of crypto enthusiasts tend to have a strong gambling instinct, so I'm sure a lot of them can tolerate the risk of losing their funds to an exchange hack--and a lot of them have, too.

The first thing to do is let your crypto sit in your personal wallet that you have total control and learn how to secure it so that you can sleep well. And then educate yourself, how are hackers able to get those accounts?

(1) Never click on any suspicious links because it might contain a malware that will steal your information
(2) Used 2FA in specially in crypto exchanges, this is a must
(3) Used strong password
(4) Don't trust, verify
(5) Don't put all your coins in an exchange

Hackers will always find a way how to get a hold of the exchange or an account. So yes, those tips above will be of great help in avoiding those hackers. Having your own wallet and be cautious of what you are doing over the internet are just some of the few ways how to avoid being rekt.

If you merely use exchanges to buy and sell, and not keep your coins there for indefinite periods of time, then I think you're not exposed to much risk.
Don't use exchange as a bank, just use it for its utility. Then you can store funds in your own cold wallet for example and have the security of being your own bank.
Exchanges are sadly or not the best way to acquire bitcoin in terms of market price, and are especially necessary if one wants to buy large amounts of BTC at a time. But until we get fully decentralized exchanges, we can't have an exchange whose wallet client is also fully trustless, much like bitcoin always was.

That's the reason why government do not legalize cryptocurrency that easily due to some hacked exchanges and that's a serious issue.

You just need to become more careful and become responsible with your assets so that you will not become the next victim of those hackers. Criminals will not be completely eliminated so that using cryptocurrency is risky in some point. But in order to become confident in your assets, increase your security especially your bitcoin wallets and learn how to choose a reputable exchange where there's no history of getting hacked. Plus, choose an exchange that immediately fix the issue in their platform with an improved security so that you can become free from that insecurity that you are saying.

Look.

1. There are lots of money on exchanges.
2. If hackers manages to crack an exchange's security, they could potentially get away with it scot-free(if they know what they're doing).
3. Lots of uneducated people are leaving unnecessary amounts of money on exchanges.

Hence, based on those 3 facts alone, it's pretty safe to asswume that there will always be hackers trying to crack crypto exchanges. The risk:reward is just great.

The solution is pretty simple though. Learn how to hold your funds in self-custody. And of course, if you're trading, obviously you really need funds on exchanges. The solution:

1. Only leave the minimum amount of money you need for trading on exchanges.
2. Withdraw frequently.

No need to worry, there will always be vulnerabilities when it comes to money, what you need to focus on is the financial development that Bitcoin represents and cryptocurrencies in general. Don't be alarmed by page hacks, just keep security levels relevant to your wallets, exchanges so you can operate in total comfort.

All vulnerabilities are completely covered and repaired once they occur. The 2fa represents an additional layer of protection for your account, whenever possible it supports everything when there is the option.

Hacked events have happened long before crypto even became famous as it is today and you can see that crypto became even more famous. As long as you are still in the crypto world then you should be more concerned with the security of all your accounts from email, exchange and others, you must really maintain this security, but still there is still the possibility to be hacked but mistakes from other parties such as exchanges.

Insecurities will continue for a long while. Not all exchanges are safe for us to store our cryptocurrencies, because they can get compromised by advanced-minded hackers and intruders out there. The more it becomes secured, the higher chance that hackers and intruders can counterattack.

This is why it is not a good idea to store cryptocurrencies in exchanges. It’s definitely good for trading purposes, but transaction fees is something you had to deal with every time you transfer it to wallet and to exchange, vice versa.

There is no such thing as “safe and secure’ exchange right now, even Binance isn’t exempted of it.

I think to avoid getting trouble with the exchanges you want to use it is better if you are trying to use the old one which is popular and gained a lot of reputation into the world of exchanges because they already know about the possible outcome on the world of trading.

Still even the highest known exchange experience some data breaches and hacking but still it's on security that's why you need to find which is a good platform to go with.


Even the secured platform has a hole on their system that could possible go and attached with the hackers just to get the information and trying to scam the whole management but still its them to make it secured no matter what happen to be a good on the world platform.

No, there will be no way out of that insecurity, but you can prevent that by activating the security that is available on every exchange. You don't have to feel paranoid because of the hackers, and I suggest you follow every instruction from the exchanges to secure your account. By doing that, I am sure your account will be safe from the hacker, although that is not guaranteed to get 100% safety because we live on the internet, and we can get hacked anytime.

Cryptocurrency will not lose popularity because people will have time to secure every account they have in the exchanges or on other websites. The important thing is you can activate 2FA, email confirmation, text message confirmation that is available on the exchange, and I think that is enough to cover you from the hackers.

Above all the good points above, if you want to trade, don't transfer all your coins at once from your personal wallet to the exchange wallet because this is risky especially if the exchange is not reputable.

well,everything started by human weakness,when u got hacked by phising,You've contributed directly to hackers to steal information from the system.Then we move the the part two,system weakness,after the hacker get some information,they needs to capitalize on that mistake – using exploits and malware to gain and expand access to the system.The use of exploits allows the attacker to leverage a flaw in the system to gain access. Last part is the Implementation Weakness.No matter how good u to secure ur account,when the implementation of software is deficient,it will be useless.That why binance claim the attackers was able to overcome two-factor authentication (2FA) when binance hacked last year.
So what the point of this ? of course yourself,no matter how secure that exchange,how high the reputation of that exchange,if u dummy,its will become easy for hacker to penetrating the system,maybe,the security system will response immediately about a few phising attack,but how about a lot of attack ?
Maybe system can easly block direct attack to the system,but how about that attack come from user which it already controlled by hacker ?
Always becarefull and smart is more than enough to secure exchange u use it.

This had been the norm and can possibly happen anytime because exchange platform are one of the best place on where hacker can get tons of money.
When you are minding that much about security specially with exchangers then the best thing you can do is not to leave your funds for too long.

Primary mistake of some is that they do leave huge amounts and when hacked do happen or even the exchange itself do make some lockdown or exit scammed
then youre doomed.

Always set out that kind of mindset because no matter how reputable or known the platform is, you cant be sure on when they would be hacked nor exit scammed.

Hackers exist long way and keep moving alongside this industry, the only thing you can do from this hackers is to keep your guard always up.

 Learning everything and try to keep being well informed.



That's unavoidable, mistakes or some inside ob might take placed even you did try everything from your part.  You just need to face this fear in order for

you to keep moving forward from this business.

It isn't just cryptocurrency websites that get hacked, so do keep that in mind.  I recently learned about getting pwned and looked up all my emails and I had been pwned at least 3-4 times for each email.  LinkedIn for example screwed me by allowing themselves to be hacked.  I think as time goes on however, this is something that will only continue to get "tighter" and less and less of this will be seen.

There is really nothing major to be done except a bit more careful security in those exchanges but considering that most of them actually say that they were hacked but in reality they are probably just putting all that money into their own pocket and that is why they can never fix their security because there was no problem with the security to begin with, it was all inside job, how could you stop that.

However if its purely just security, there is really not much you can do about it but to work with great developers to make sure you get it perfected and not have any loop hole at all. Plus, you can pay people to try and hack you and see if they can, if they can't that is good, if they can they would be paid and you will fix it anyway. So basically work on it, but I doubt it will ever be fixed.

We really have to get used to that in the world of cryptocurrency scams often occur. Therefore choose popular and trusted exchanges,
so when the exchanges are hacked. These exchanges are capable of returning users funds, as well as the choice of coins will be bought.
Must be able to choose coins with high volumes, so you can avoid shitcoins. Which if we buy shitcoins will difficult to sell, even some
shitcoins become deadcoins that cannot be sold at all.

you dont need to overthink yourself  .experts are not thinking too much about this but why should you ? hacking did occur before not just minor but big hackings too starting from normal people and site to big exchanges where thousand and millions of dollars are stole but the good part is that we are still here and there are new people that are still being involved here  . there are bad impacts that will occur after hacks but it wont last and all can recover to start again

At least the best thing you can do is to stay away at those not popular or newly established exchanges and trading platforms to minimize the risks.

About the hacking issue in general, no way it can be avoided that's why platforms do their best to maximize their security as possible.

And no, I don't see this will bring a negative impact in cryptocurrency. Good thing, there are now lots of reputable and big crypto exchanges today that will erased all doubts that crypto is not safe.

Trust the process mate.

Exchanges can only do everything to minimize the risk of being hacked. This is the reason many of them source for the very best security measure coupled with constant security auditing. Individual account being hacked depends on the owners and this is also part of the reason why it is encouraged not to store information about your online exchange account where it can be public be access by the third party. They say security is an illusion. Exchange can't totally secure everything

feeling uncomfortable there really is always haunting for many internet users, especially those that have to do with exchanges, social accounts, etc.

With the rampant hacking that has happened so far, on the contrary makes someone more careful in doing things related to assets.

If anxiety / discomfort keeps happening and terrorizes you, in the world of crypto all you have to do is;

• "Look for an exchange platform that has kYc with high level of security process by process".
• "Make your account password as complicated as possible with very complicated characters. You yourself don't remember and memorize them, and write it on one paper and keep it at home, never store it on a laptop or Android phone ".
• "Never publicly reset your password or account name, unless there is an official change from the exchange and social accounts".

The reason why exchange are easy to hacked because it is not regulated and they have no sense of responsibility to refund user fund in case there exchange was hack. It is so easy to start a exchange business because there owner are not focusing that much on security.

If we compared stock market and crypto exchange. Stock market is too hard to hack because it has a strong security due to most people are using it. On the other hand the crypto exchange which the owner has no liability in case funds was hacked. They can easily hire a hacker to hack there exchange then run away the money without tracing it. This is the reality of the exchange business on crypto. So it's better to not hold funds there for a long period of time.

Whats your concern anyway if someone else's account gets hacked? If you are still following social media channels of popular people then you just need to grow some proper logic as to not believing everything that is said on the internet. If someone is offering you doubling then it is a scam wheoever it might be. Follow that attitude and you will be safe. In the meantime secure your own accounts and put up strong passwords one for each account and turn on 2FA where available.

Now if you still get greedy and send money to some "pandemic fund" then you are at a loss. Trust nobody here, unless you know whom you are sending money in real life.

Exchange getting hacked, the way to save your money is to not keep coins stored there after trading is over. Of course this cannot be applied to open orders that have not been filled yet but that is the risk that you have to take for now.

Banks get robbed. Do they lose popularity? No they gain back their reputation with even stronger security. Bad people are there in the world but that does not mean that the innovations are going to stop. Humans need to be careful what they are doing.

Some of the simple things atleast from our side what we can do is that only use the exchanges which ahs a good reputation and which is also old. Secondly, we can store it in ledger rather than string it online unless you want to sell it immediately. Thirdly in crypto risks always exists it can be either of hacking or due to volatility the prices could be falling. So, for people with weak heart or cannot take such risks ideally should stay away if possible.

That's the importance of conducting some research first before accessing it or observing first the platform that you are using.

Crypto related websites, exchanges, or wallets, are really prone to those hackers because it involves money and assets, but you should also consider that they have their own level of security so that they can maintain their good reputation towards those cryptocurrency users. They are working on it so that those insecurities of other people, not only you, should be lessen and those popular exchanges or platforms are really doing their best for its customers to become comfortable while accessing a crypto related programs.

These are exchanges and sites that has a weak security and do not allocate funds and hire the best security experts, we should not trust these kind of sites and exchanges, if they cannot keep up then they better ship out, they do not have business operating in an industry where there are so many hackers roaming around.

 
I think the only way to protect you from the unsafe situation you mentioned is using a cold wallet. In addition to using cold wallets, you can protect your electronic devices with special antivirus software and feel a little more secure and realize that you are really safer compared to other users. On the other hand, the services you mentioned are obliged to ensure their own security and you cannot do anything for the security measures of these services. The only thing you can do here is not to use the services you don't trust.

This depends on the cryptocurrency exchange, some exchanges are the cause of their hacks, sometimes some of these hacks are been investigated and traced to internal involvement which we can wholeheartedly said they are the architect of their misfortune. Good cryptocurrency exchange can't be a threat because of their investment in their security shields against any hacks. When choosing your cryptocurrency exchange, ensure to put security first before making your coins deposits.

Crypto won't lose its popularity just because of it. Because there are more severe cases with the bank online thefts yet people are still using the banks so that can be the comparison that I can give. And for your security, make sure that you are not keeping a big amount on exchanges.
Turn on the 2FA for better security, 2fa with google app or authy or through your email or sms.

That would be an ideal solution, but a large percentage of crypto users are not at all familiar with the concept of desktop/mobile/hardware wallets and keep everything they have online. On the other hand, those who would practice your advice would have a rather big problem if they would often withdraw their funds due to rather high fees when it comes to BTC.

In fact, it's about controlling the risk as much as possible, and making you aware at all times that the funds you have on the crypto exchange can be hacked, your account frozen or shut down at any time. Those who do not want to live with such a risk choose a much safer method to simply keep their coins in non-custodial wallets and profit from price increases over a longer period of time.

I was thinking different until I read the whole message "insecurity" = uncertainty or anxiety about oneself; lack of confidence. But I guess what you mean is to have better security and privacy on our accounts on exchanges. Hacked is something we cannot stop hackers always find a hole or bug to penetrate, but of course we can prevent it if the exchange have tight security. If indivual accounts, most likely it is a user base attack maybe a phishing or something, but the bad thing is if the hacker hack the exchange but some exchange has insurance like binance and cover any losses.

Unfortunately it's their only option if it's the case that they do trading with a significant bankroll. Especially those who trade high-liquidity pairs like BTC:USDT on spot exchanges without leverage. It's not like they're trading 24 hours a day though, so a lot of them probably wouldn't mind slow transactions for their non-trading hours.

As long as the exchanges can protect their site from hackers, we don't have to worry about anything.
I am sure the exchanges, especially the big exchanges, will try to secure their site and be aware of the hacker attack.
If you still worry, you don't have to join the exchanges, but you can use another way to trade.
But I am sure that the cryptocurrency will not lose popularity because of that problem because people will have another exchange to trade, and they will not back to that exchange.
People have many good exchanges that they can use to trade, so they don't have to worry about hackers.

As long as the crypto exchange will remain in the internet hackers will try to hack them. And they become successful sometimes for the poor security. If we don't make secure ourself we continuously will victims of these hacks. So what should we do. Use always most trusted/secured exchanges. Again don't hold your capital in any exchange. Exchange only for trading not for holdings your money. So avoid doing it and always hold your capital in an external wallet.

That's the reason why we do our own diligence upon choosing a good exchange. Hackers will never stop chasing to scam exchange as long as they know they can get profit on it. Once there's an exchange that weak security measures, hackers will take advantage that might be causing security breaches.
Always prefer to the good exchange and have multiple security features and funds should be safe like Binance exchange that has a Secure Asset Fund for Users or (SAFU).

The most important thing is don't leave your money in exchange. Pull out when you have done in trading. There's no way to trust them to hold our fund for long term purposes.

Once you deposit your coins to an exchange and you activate 2FA there is not much to do except what you should always be doing like surfing safely the web and not install anything suspicious on your computer or phone, once your coins are in the possession of someone else then it is the responsibility of the one holding the coins to secure them, your only option to reduce this risk is to become a position trader, position traders only perform a few trades per year, which means you could deposit your coins, make your trade and then get your coins out of the exchange, if you are fast this could take just a few minutes and it will be very unlikely for you to lose your coins during that period.

Hacking is a global market problem, in fact, not only it happens to crypto market but also in social media accounts. But could we see this a horrifying scenario? Maybe yes, but I wasn't thinking that we can put this to an end because hackers will still be making way to crack down keys just for them to succeed with their intention.

We can just minimize this but certainly can't be avoided. Besides, the hacking incident of Binance never has been expected as well and this also happens to others. What we are doing now and for these big exchanges is to thighten up their security and more vigilant with the activities.

You know it's not just crypto exchange's been hacked before, right? Bank accounts, social media accounts and any other kinds of accounts connected to the internet is a target for hacking. So get used to it already since you can't stop them from doing it anyway, all you have to do is to fully secure your account all the time since anytime the hacking could happen. There is no perfect or safe system, everything is vulnerable to hacking.

Don't expect all cryptocurrency exchange to be same when it come to it security, some had the money to use while others don't. Mostly, the exchange we should be afraid of are the new cryptocurrency exchange and not some old exchange that has good reputations when talk about security. The likes of Binance and other good exchange should be embrace and use.

If we keep going on studying on different exchanges' hack events, we can easily find out some similarity and one of them is basic vulnerability to be found on crypto wallets; before devs find them those hackers exploit them for their benefits. When exchanges are keep updating their wallets, the chances for hacking will be greatly minimized. I'm just talking about what happened with  one exchange and there could be many other security breaches and these are the the actual invitation for hackers.

Another important thing about exchange hacking is, insider information. Running exchange is a big business and this is the reason the owners need to hire many people and when one of them is going corrupted for their own benefit or guided by others for some reasons, the hacking will become inevitable.

You are right! Nothing is unhackable out of this world and it does exist even crypto market havent existed yet.So the best thing to be done is indeed to follow is on how to secure all of the accounts you do have.

When you do have some money on wallets then always back it up plus setting out the most secure kind of way on protecting towards hacker,once you've done this then they cant easily access it out

unless if the platform or said service had completely been breached nor take controlled.This is how thing goes into this market and its not really something new.

The problem occurs with emails mainly in my opinion as people are sent lucrative offers via emails and those who are new clicks on it to go into the world of hackers where they will ask you to login and you are basically giving away your money and account to them.

The root of the problem is how the hackers are getting your email id and that is via airdrops and various other sources so just make sure the email you use for exchanges and accounts you never use the same emails for airdrops and other activities.

You need to safeguard your money and no one else is going to do it for you, so be smart and firstly, don't make your email known to hackers and if even somehow they do, make sure you check the web address thrice before putting data.

I think a small 2-step verification can solve most of the problems and hacking will be almost neglected because like Binance asks you to verify code every time you make a withdraw so that enables either the hack to have access to your mobile or you are tricked into sending the hack the OTP via a phishing site which is not as easy as it is easy without the OTP.

Most of the exchanges have implemented and actually made mandatory to have a 2FA enabled which sometimes sounds irritating but is the need of the time we are in and since crypto can't be tracked so you cannot do anything once you have been stolen.

^ Definitely right and this is the fact.
Anything can be hackable, even good exchange can be hacked also. I saw that reply above was referring to Binance exchange but we know that they had a hacker record last year because of breaching their security system which is losing thousand of Bitcoin in different accounts. So, theoretically, there is no safe exchange at all. You are not lucky if you have been chose an exchange site that was hacked. Nevertheless, there is always a good advantage if we choose a reputable exchange than the shady one.

Even the big , best and well established exchanges cannot escape in the hands of the hackers. It is a normal thing that is happening now. I remembered Binance when it was hacked before but they compensate and return the lost bitcoin of users. Given that it might harm their reputation that is why the owner took the responsibility and return the funds of those users that got affected.

The point here is that even the tightest security can be deminished.

Don't use exchanges then. And as a matter of fact, you should also stop using any type of social media, forum, hell don' t use the internet. Nothing is perfect in this world, and hacks and the like are, as much as I hate to say it, perfectly natural for exchanges and companies to experience, especially if they're just in the beginning stages. It's rather simple to actually avoid your funds getting hacked from an exchange tbh, use a hardware wallet. Stop storing coins in exchanges and you're basically safe. You're insecurity rather really just stems from you believing that crypto wouldn't last due to these setbacks, but setbacks themselves are the ones that provide development to something.

If you fully believe that crypto would die due to this, just stop using it entirely, no one is really forcing you or anything. Being hacked/scammed of your funds is basically avoidable if you put enough preventive measures, especially since you're only managing your own sole funds.

Yes, not just binance, but poloniex, and bittrex and the other big exchange have those experiences. The exchanges can protect their site from hackers, but they can not always secure the website, especially if hackers have high skills to break the security on the exchanges. But the exchanges need to take responsibility if they don't want to see the members leave on their site because they can not protect the site. It is hard for the exchanges, but I am sure they will do their best to protect them.

I think this is a growing concern in the crypto space and believe it or not it will have some negative effect when it comes to new investors coming in to the market, just like you are feeling insecure so will be new investors, their thoughts will be on the lack of security and the frequent hacks that have taken place in exchange, if you are not a trader and don't have the need to keep your funds in any exchange, you may not be bothered about it,

However, i think it has gotten to a point when this various exchange should put all hands on deck and find a lasting solution to this problem, it won't be nice to constantly face with same issue, security should be a top priority, am sure there is a way this can be resolve to reduce this attacks.

Exchanges out there are vulnerable to hackers even though they have really tight and high security. This is one of the factors why we should not see it as a wallet to save our coins there for a long period of time. What I deposit in my exchange is the money that I willing to risks, I deposit in my exchange there because I actively buy and sell altcoins and my goal is not to deposit there for a long period of time. For those traders out there, just choose an exchange that has high security in order to guarantee that your funds out there are safe and secured.

In fact, hackers are not stupid people and they can always find ways to get to your account and your cryptocurrency funds. But nevertheless, it is best not to store all your capital in the wallets of the cryptocurrency exchange, but only the part that is needed for trading. in addition, I made a choice in favor of binance, since this cryptocurrency exchange is not only the most balanced in its functionality for a trader, but also provides a good degree of protection, including confirmation of actions via SMS by phone.

There is no absolute security, we need to be aware that. Every account and wallet can be hacked, just like any bank can be robbed.
However, exchanges and other crypto services can raise the level of security and we also need higher awarness among users to protect themselves. We need to be aware that cyber security is very important, that there are some technical measures that could be implemented and we can also protect our personal and financial data.

Nothing is secure and this is why there are security measures that we can somehow able to use like on-site 2fa and other verification before it can be breached out and as a user then its part of our responsibility
to be active on setting things up since we know that we are storing our funds in.

In all cases, we should really be aware on how possibilities could happen when in talks of hacking incidents thats why just like on what others said that leaving big funds on exchanger or any platforms
is really a bad idea.

Insecurity? get used to it because these circumstances isnt really something new into this crypto world.

It still boils down to doing your own research on any platform that would be housing your money. There are exchanges with great security and also have users fund safu.

I think all things that involve money has always its scammers around no matter what we do. We should face the reality and just get used to it. This is the reason why we should always be responsible with our own accounts not to be steal by other people and always assure its security by not putting all our investments in a single exchanger.

Doing research about security level of an exchange or platform you use before trusting them with your fund but online platform is ever cautious even with the said SAFU cause sooner or later human error will occur and this is the reason why people are advised to keep online the fund they can afford to loose on exchange site.
@OP, to over the issue of insecurity every crypto exchange and project owner need to think like scammer/hacker in other to provide adequate security.

Therefore do not keep all the coins we have on exchanges, only keep what we will use for trading. The rest of coins that we have keep
in the hardware wallets, then choose popular and trusted exchanges. So when these exchanges are hacked, our lost coins can be replaced
by them. Don't forget to activate 2FA and use strong password. The last thing to prevent being a victim of hackers, don't just click the link
that we don't know. If all the things mentioned above are done correctly, we should be able to avoid being a victim of hackers.

This is mostly the common thing that people who are scared on hacking do, I also do this on my trading account. I don't make my asset sit on my trading accounts since there's always a possibility that it can be hacked, Though I don't have any experience of being hacked, it is my own safety precaution for myself not involved in any hacking activities. 2FA is a simple but really strong additional security, Most of my account has it. Of course, you need awareness of what's happening in the environment you're having at. If you're having a weird experience on your trading account or the device you use, It's better to check out the asset you have and make move.

Insecurity arises because you are too paranoid so there is no safe gap in your mind.
All systems will indeed not be safe and have gaps, but you will remain safe as long as you follow all the rules, follow the safety instructions properly.

Hacking various kinds of sites such as Exchange sites is already common, it is the duty of exchange providers to continue to build strong security. Even Binance as the most popular exchange has now been hacked by hackers.

Never leave all your assets with an Exchange Provider, it will be very dangerous. Use your personal wallet, which is Hardware wallet which in my opinion will be safer.

It is what we need to do for our assets because we never know what will happen to the exchanges. If we feel insecure to keep our assets in the exchange, we need to move it to the personal wallet and don't risk your fund in the exchanges. That will be a side job too you, means, if you want to trade or sell the coin, you need to send the coin to the exchange, but that will be worth doing to prevent hackers.

It is not that easy for day traders to move their assets in and out of exchange anytime they want to trade, this is the more reason why exchanges needs to up their game in tighten the security of their exchange,
in most cases, traders have the majority of assets on exchange, an investor who just want to hold a coin should be wise enough not to leave the assets on exchange,
The best option will be to use dex but we all know dex has less volume than cex, it is not easy for day traders to use them, although they are more secure.

Some traders think that purchasing a hardware wallet is expensive and they can't avail it. If that's a problem to them, they can download those wallets for the coins that they have specifically for the desktop wallets where the security is better.
2FA is a must. It makes the security tighter if most of the coins are in the exchanges but for the sake of safety, newbies should stop keeping their coins in exchanges.

They don't  hack without a source, those hackers do carryout their dubious actions through compromised emails and systems, many had sometimes given out their social medias handles which had exposed them to hackers, they then use the opportunity to maliciously steal from their victims. To be safe in this cryptocurrency industry, ensure to hide your identities from hackers and always  double check your URL before imputing your data.

just to clarify,Why are you becoming insecure?i mean what about the hackings?have you invested Huge amount?
The way you react seems like you have been a victim of hacking or you are a big investor that afraid to become a victim?

Lets just be realistic here.

Because  you  made us confused since the topic is very serious when we as long term Holders are very precise in our trust in this market.

Even government sites get hacked.
Everything in the internet is vulnerable.
Have you heard about the recent Twitter hacks that scammed a lot of people recently?
There's no such thing as perfect security as long as you're using something under one's creation or code to be precise.

So for exchanges, regardless of how reputated it is, hacks aren't avoided.
That's why people are advised to not keep their money/fund/capital in an exchange wallet when they're not trading.
It's not your money when you put it in an online wallet because you don't hold the private key, remember that.

Always try to develop and move forward

Don't just look at the news because basically, a large exchange will remain safe from hacking, if you save more assets then you don't need to exchange because there are still many safer hardware wallets. I think that's enough for a solution.
So don't overdo it about what you think it might be what the OP is afraid of just looking at it from the news and its basics are still many who believe in the cryptocurrency market.

When it comes on securing out your money or coins then its suggested to pull it off from time to time and store it on the wallet which you do possess the keys but there are really people whom do prefer on parking out their coins on exchange wallets because they dont like the hassle on making transfers from time to time.

When certain situation or incident happen then thats the time they do realize that even on the basic ways on how to secure their coins  is important.Trade of on the amount that you do actively use then
pull it out.

This is what im doing even im dealing or do make use of Binance platform.

Yes, it is not easy because they need time to moves the assets. While they move the asset and wait for the confirmation, they can run out time to sell at a high price, which can make them get lost. That is what we can do to prevent from saving all of the assets in the exchange. That can be a way to avoid hackers. I can't entirely agree that dex is the best option because it can be hacked too, as the cex. After all, there is no 100% safe on the internet.

I have same story before when the hacking is rampantly happening and news  here and there are  constantly releasing.
But i realized mate?the more i am affected is the more i will lose the chance to make profit.
Yeah there are this hackers that given gift to overpower others but we are human also,we must find  ways to overcome our fears.
what i did?is protecting my wallet by using  ledger and  never to let my funds stays in exchange or gambling sites overnight.
this is  how i treat the Insecurities and now?i am good as new for the market.

Well actually not only crypto related sites and exchanges. In general every sites are prone to hacking no matter how high the security is. For example binance, its one of the trusted and high security exchange, same goes to twitter recently.

Hackers/scammers are already existing long before so what we can do is to be more careful and not use an exchange as our wallet and choose a reputable one when we are planning to sell our assets.

Just read those article about the convicted scammers that had put behind jail to satisfy yourself that the governments are doing their Jobs about these kind of people.

From that you will understand that this is part of every market,scammers and hacker are there because this proves how healthy this market and  profiting.

But don't worry this is isolated cases only  and there is once in a million victims.

I think you are wrong, being updated and looking at the news is the most important part of crypto trading community because a lot of exchanges go through hack attempts and there are times when a particular exchange stops withdrawals like cryptopia did and those are the signals that hints towards an exit scam or being hacked so if you are not updated you might continue depositing money into the exchange and loose it all.


Believing in the market is one thing and trusting the required process involved are two completely different aspects and you have to be careful and very active with your decisions because as we know crypto once hacked/stolen/lost cannot be recovered.

This is not called insecurity. You are just being concerned about the safety of your accounts which is quite normal. Look, no matter how much secure the company claims they are , they are not! They are always prone to getting hacked (and I guess you have already seen it).
The only way to keep your coins secure is not not keep them lying around everywhere without any reason. If you are done with exchanging, just withdraw your coins and keep it somewhere safe. Preferably in cold wallets and hardware wallets. As long as the coins are being held by a third party, they are never safe!
Make sure to use every security layer they provide. Won't totally secure your account, but will at least keep it more safe than not using it at all.

Once you have decided to enter this market, you should accept all the risks when investing as you will never be able to feel safe keeping your money in this market.

There have been many hacks in the past and most of them target large exchanges so use only half of your assets to invest. I also lost money many times in this market and most of it was my mistake when not checking.

always use popular exchanges in crypto that already have good credibility for users.
Until now, although many exchanges have been closed, I feel that the popularity of crypto has not shown any decline. In fact, there are always innovations that collaborate with crypto to increase extensions in various industrial products.

As we move more and more of our lives online then expect the hacks to increase, and while we cannot help everyone at least we need to learn how to protect ourselves and to be honest it is not as difficult as you may believe, it is just that most people do not want to take responsibility for their security, and this creates a weak link that hackers are too happy to exploit as much as they can, as long as you install a secure OS and do not install any suspicious software in your computer you will be fine for the most part.

No reputed exchange or wallet will leave their traders or investors hanging if a theft has occurred. Most of the top exchanges have a section of fund reserved for such scenarios. They usually reimburse their traders and investors with the full amount that has been stolen as soon as possible.

Some exchanges might not be able to reimburse the whole stolen amount, but they will offer their users concession in some way or the other through the exchange itself. So, basically, they somehow make it up to their users for the stolen amount. All I would advice you is to find reputed, trusted and well-established exchanges to trade and store your coins.

Hmm, first it would be useful to people on here generally and traders to provide some names of the exchanges you're talking about. This way everyone can determine for themselves if this is a valid statement or not.

Second, hacking is something that can't be completely eradicated and while strong measures are put in place, sometimes these do get breached but this is not often. And if you keep worrying about something that could potentially happen and you don't have much control over it then I say there's no point at all. This is the same as being worried that if you go out even if you take all the necessary precautions someone might pull your mask off and you might catch the virus. The point is that sometimes you have to take some calculated risks and can't always live in fear of something happening.

People wont learn if they wont experience such disaster and when the time that they do experience it then they will surely be mindful on next time cases.
Its always been fault or towards human error this is why hacking do exist because people arent really that serious on setting things up to secure out their
assets even the features needed are already integrated. Ex. 2fa. This had been a common feature but still people do neglect out on using it.

Theft happens everywhere. It is not just the crypto space that is being affected by it. Cash gets stolen from houses, shops and banks as well; credit cards information are hacked every day and even ATM card pins are hacked. There is nothing safe in this world. Just like every theft that happens around the world, crypto space is not different.

We should learn to live with this while exchanges and wallets keep their securities updated to ensure the safest experience for their users. So basically, insecurities occur in everything and I don’t think crypto currencies will lose popularity because of the same.

That is a very common mistake people do because they find it very difficult to download all the core wallets for each coin and hence they try and keep their coins on an exchange that supports these coins.

It has been recommended so many times, I have lost the count that people should not use exchanges as wallets and only keep the money they intended to trade with in the exchange and to avoid hacks and other stuff just make sure you have setup some 2-factor authentication and don't click unknown links that are being spammed all over the internet.

No, that’s not much of a problem, there are still good exchanges you can make use of. This is one of the reasons why you should be making use of the top exchanges who are always ready to upgrade and update their system to have the latest security features that will protect their customers/investors. There are some exchanges that even go to the extent storing your coins offline to secure them, and some have insurance.

Lastly, stop having all your assets stored on exchanges. After choosing a good exchange, you still have to play your own role in ensuring that your money safe. Don’t just leave everything to them, it’s risky. At the same time, withdrawing daily and then depositing just before starting trading is not possible for anyone honestly, this is why people are holding accounts on multiple exchanges and holding small funds on each exchanges. This is one simple trick yet you cannot do anything when one or two exchanges get hacked or bankrupted.

There's no such thing we can call as perfect when it comes to security because just one mistake is enough to ruin everything. I've seen many hacks in the past where there was no lapse by the exchange's end but they still got hacked maybe due to some insider person's involvement. The worst part is, we don't know the intentions of people as well as even exchanges and whether they could be trusted forever or could turn dark any time. It's better to use all the security measures provided by your exchange if you want to minimize the risks of getting your account compromised. Else, the only option is to keep your money (coins or tokens) with you until you want to trade it.

  This is a decentralized market and that's why there are so many hackers, scams and manipulation organizations here. We have the right to trade freely but not taxed, this is the price to pay for that. If we work in the background, we need to have plans to guard against risks. In normal financial markets, we are protected by law but not here. Keep your computer clean and don't click on strange links, that's how I protect my assets.

There is no way we can handle such insecurities like hacking and scamming because the problem is not on the cryptocurrency itself but with the mindset the people have. Such insecurities are being made because of the greediness that people have in personality due to the want to earn easy or instant money but such eagerness is being done through an illegal way on which they steal what other people have worked hard for.

For the past few years such happenings become normal in this industry because we are in a modernize community wherein hacking is connected since cryptocurrencies are into technology and online and digital form. You cannot control such insecurities as a whole but you can protect yourself from getting victims of those kind of people. Just always do secure your device and verify if you are entering a secured site where your account and information is safe and do always be mindful not to accidentally click strange things online for it might get you into unfamiliar pages created by scammers and hackers. Securing yourself is the only way possible but to protect the entire crypto community seems hard to be achieved since we cannot control how people thinks and such insecurities are within their personalities.

When it comes to money then its somehow anticipated for a person to go dark specially if they do able to see huge numbers that can really changed up their entire lives on where it do results
into possible insider issues.

If youve been here on this market for a while now then you will surely able to say such thing that these situations arent really rare to happen.This market do involves multi millions
which means the best spot for hackers to target on.

When it comes to security then it all matters on us in the first place.You should know on how to secure things up even into those lapses.

Actually no one can guaranty that this is not going to be hacked. Maximum exchanges sites are vulnerable. But you have to be careful & don't give your personal information to avoid risk. Last few years so many new exchanger came to the market. From my side new exchanger is very risky. So if you can avoid new exchanger. But there is always risk & you have to be careful.

You are right that security totally depends on our own decisions. Why do scams occur? They mostly occur due to our own mistakes or due to we being unknown about the type of scam being carried on us. Anyways, I believe that when it comes to exchanges, we should set up every single thing before using them (which is where we played out our end to be safe). But whenever a hack happens is when our bad luck strikes in and if we've got anything on our account, we'll need to be lucky enough to have our exchange either insured by some big entities or the exchange itself offers some or full compensation back of the amount we lose.

I think you misunderstood the situation...
Cryptocurrency will not lose popularity just because an exchange is hacked, hacked by hackers is that exchange, not the cryptocurrency. so that will lose population only exchange that attacked by the hackers, not cryptocurrency.

agree, nothing is 100% safe for all cryptocurrency exchange markets, because most crypto markets are decentralized and we must be able to bear all the risks that will be faced, it all depends on our caution, hackers will not come to us if we are always vigilant and not careless to secure the private key that we have

Not just self confidence but also self-awareness because hacking is something that you can't be a victim of unless you somehow gave the hacker your information. There can be emails that contain phishing links or there can be brute forcing methods applied by hackers to gain access to your accounts.

What one needs to do is just set a strong and different password for each website/exchange and make sure to avoid clicking any emails they receive from unknown sources and verify the sender's email (sent-from).

I am also being in crypto since a long time but I never got hacked because these are basics and I was always aware of these.

It is not really necessary to go through a scam or hack to take your online security seriously, as they say it is better to prevent than to cure, especially in this market because once you lose your coins there is no way to get them back, and I do not like the idea of a scammer enjoying my coins that have taken me so much time and effort to get while they just take advantage of my ignorance, I prefer to take the necessary steps to ensure the security of my coins and never lose them than to take the easy way out and lose them.

There has always been but in recent months it seems that now if it has been seen more frequently, especially in the digital media, it is going to happen as a real ad, a new person who enters this world of cryptocurrencies to think that this is always the case. worries

There are no such technology is perfect when it comes to security because no system is safe from hackers. You are right. Prevention is better than cure that you need to learn how to take care of your coins or funds away from hackers because we don't want them enjoying our funds that we put a lot of time and effort just to give them away. It is why we need to be aware and becareful on the sites we visit and the devices we use.

To survive in the long run you need to be aware of what can hurt you, and to avoid that of course. Any rushing in unknown is risky, trying new things is risky, but if you do your research, if you check all the angles, before you try something you can save yourself from many troubles.
I am in crypto for a long time too, and we saw many scams, and many victims. We have to learn from that and calculate our steps, there's no magical protection, education is the key, it's how you protect yourself, with knowing what is around you and how it works.

Lack of understanding and awareness can be the main reason why there are traders who are worrying to their funds because of the security of some certain exchange. It is the fault of the trader if he keeps worrying because he do not understand and he do not have enough knowledge on what exchange that he is currently using. Depositing in trusted exchange can help us to remove our worrying in terms of security of our portfolios.

I think at present time hacking is going to be part of us. Its a cyber crime that does by some people for various reason but i think if any site hacked by hacker there is no way to save your account. Yes its fully depends on developers experience about hacking security. For this reason big exchange developers make bug system to check their site before starting and does regular maintenance.

Why you are saying cryptocurrency will lose popularity? those who engaged here in trading for investing knows about hacking so we all have to familiar with it and have to work with anti-hacking system.

thanks.

The problem starts when the exchange itself gets hacked because no matter how smart we are and how cautious we are towards our approach but you cannot do anything when the exchanges turn scam or get hacked because that is not in our own control.

I was someone who used to praise and suggest cryptopia to everyone but they turned shady and eventually stopped withdrawals and then said that they got hacked, I don't know if they are lying or actually got hacked but there is no way I can login and withdraw my funds now. The problem is I always keep my alt-coins on exchanges so I can track them easily and sell them once price rises for any coin.

You know, the only way to put your mind at ease of your over worry about security matter on the exchange is:
+Get to the best exchange as possible to reduce the risk of exchange got compromised
+Get all the security option for your account on that exchange ( 2FA, phone code verify, IP-browser,... heck, turn on anything they have)
+Make sure your email also has the same security, you don't want hacker get to your account by your password of 123456 ;D
+Try to make a second PC workplace and smartphone for business only and another one for playing vidya, leisure activity, porn and such.
If you had gone thru all of the above already but still feel insecurity then you are really need to see the therapy.

Even banks got hacked and security information from the various developed countries are also hacked so we can't stop the hackers but we need to do our best and keep watching for the security flaws.I don't think cryptos will get affected by the hacks but the exchanges might lose its reputation completely so they need to be more careful.And for the user don't store your funds on websites just keep it in your wallets then you can feel safe for sure.

There is not really any technology that can protect you completely from hackers however that is not really the idea, hackers either go for low hanging fruit just to get whatever they can or they go after places with a lot of security but with a high reward, if you do not have a lot of coins but still implement  the security measures of an exchange or at least something similar hackers will leave you alone as there is simply too much effort to try to get to your coins.

The funny part of this is that some of you that will be talking about exchanges getting hacked will be mentioning exchanges that nobody knows lol.

Exchanges that are not good, why would you expect them to be able to defend themselves from hackers?

If you want to make use of an exchange, make use of the exchanges that can be fully reliable and not the ones that are not secure. Read everything about them, there are even review sites that will help know the kind of experience have had with a particular exchange, always go through them.

The conclusion is like this, traffic accidents have become the number one killer in the world so will people stop using their vehicles and start walking again? I don't think so, likewise with risk exchange, there will always be, but it will not eliminate this activity directly.
or rather people will continue to transact while developing so that the same thing will not happen or at least decrease in the future.

If you feel that your funds may get lost then it only indicating that you are still not prepared to the risks that you are taking, you can overcome that fear and insecurity if you will make investment in your knowledge. In what way? By simply becoming aware to the exchanges that have good security. You feel insecure because it seems that you do not know what you are doing but if you able to understand yourself then you can get out and overcome your fear and insecurities.