Hacking crypto-wallets

[max fray]

Personally I was shocked by the news that crypto investor Ian Balina had been hacked for millions in ether (https://www.ccn.com/ian-balina-hacked-for-millions-through-old-email-account/).
Being a "newbie" in the crypto-world I asked myself a question: "what should I do to protect my earnings?".
It is much better to lose $10 and understand what can happen and how to avoid it, than to lose $100 or more.

With this respect what would you recommend?
Backing up your private keys? Printing them out? Creating e-mails that could never be accessed by anyone?

[Meysa_richa]

Email security is very important in securing the crypto we have and we can add Code 2FA to protect our exchange market account.

[gentlemand]

What a complete twat that bloke is. A big time crypto investor should not be making mistakes that basic.

If you're involving email anywhere you should be using 2FA, and not phone or email based. The most secure is printed codes from gmail. After that it's Authenticator.

If you intend to move coins regularly then a hardware wallet is a no brainer. If you're holding for the long term then do a properly created paper wallet.

[stompix]

Personally I was shocked by the news that crypto investor Ian Balina had been hacked for millions in ether (https://www.ccn.com/ian-balina-hacked-for-millions-through-old-email-account/).
Being a "newbie" in the crypto-world I asked myself a question: "what should I do to protect my earnings?".
It is much better to lose $10 and understand what can happen and how to avoid it, than to lose $100 or more.

With this respect what would you recommend?
Backing up your private keys? Printing them out? Creating e-mails that could never be accessed by anyone?

One thing you should never do is this:

Balina stored the personal and public keys he needed to access his digital assets on popular cloud storage program

Basically nothing related to bitcoin was  "hacked" , and his way of doing things is just puzzling:

Balina recalls receiving a message about his college account being targeted, saying “I remember getting an email about it being compromised and tried to follow up with my college security to get it resolved, but wasn’t able to get it handled in a fast manner and gave up on it thinking it was just an old email.”

You receive a security message about your email being compromised and you don't think about changing passwords to all your accounts?
About storing your private keys on a cloud service I'm not even going to comment, .....

Best way to secure your coins would be to get a hardware wallet and store your recovery phase somewhere where you are 100% nobody can get access to it.

Or go for paper wallets although personally I really don't like them.

Check the Alternative clients section

[rommelzkie]

im not believing for Ian Balina claim that he got hacked. I think of it as an exit strategy to bypass his TAX responsibility for Crypto on which is due in USA. His reason and explanation is very weak. He is buying ICO and trading crypto for a long time and yet he didn't secure his own wallet? geez. can you stop joking around! We are not children anymore!

[tabas]

im not believing for Ian Balina claim that he got hacked. I think of it as an exit strategy to bypass his TAX responsibility for Crypto on which is due in USA.

Same thing on what's on my mind, how can a big investor would let his private keys stored on cloud? Since when he started to become a crypto investor? for sure he do know that you shouldn't do that kind of ignorance. Storing your keys/seed on the web will definitely lose you.

[kaya11]

Giving private information should be limited to only who you trust. I have been done once when I was at the starting point. The hacker sent an email to me in spam folders and I randomly clicked the sites that was there. Next thing in the morning my Etherwallet was empty, he got my ethers and my precious tokens. Even now I still have the fear to click one of those messages, whenever I see them there I quickly delete and no questions and at all.

[drm]

im not believing for Ian Balina claim that he got hacked. I think of it as an exit strategy to bypass his TAX responsibility for Crypto on which is due in USA.

Same thing on what's on my mind, how can a big investor would let his private keys stored on cloud? Since when he started to become a crypto investor? for sure he do know that you shouldn't do that kind of ignorance. Storing your keys/seed on the web will definitely lose you.

Some say it is a little too hard to believe he would store his keys there, also coincidentally happened with tax day coming as well.
Waiting for some more news on this.

[tabas]

im not believing for Ian Balina claim that he got hacked. I think of it as an exit strategy to bypass his TAX responsibility for Crypto on which is due in USA.

Same thing on what's on my mind, how can a big investor would let his private keys stored on cloud? Since when he started to become a crypto investor? for sure he do know that you shouldn't do that kind of ignorance. Storing your keys/seed on the web will definitely lose you.

Some say it is a little too hard to believe he would store his keys there, also coincidentally happened with tax day coming as well.
Waiting for some more news on this.

It's hard to guess and believe if he really does. I'm sure that he's aware that tax day is coming. Visit his twitter account and eat popcorn with some drinks while reading the comments of his followers.
We can't do something but to wait for more updates.

[JoshKulot]

Hacking crypto wallets is quite impossible because of cryptowallets company sites that provides super privacy keys like MyEtherWallet. They provide 2 way keys non-recovering Private keys and others uses gmail verification also. On my opinion its impossible unless the holder of the company was hackers but it was impossible also. Nice topic Bro. Have a nice day.

[max fray]

Personally I was shocked by the news that crypto investor Ian Balina had been hacked for millions in ether (https://www.ccn.com/ian-balina-hacked-for-millions-through-old-email-account/).
Being a "newbie" in the crypto-world I asked myself a question: "what should I do to protect my earnings?".
It is much better to lose $10 and understand what can happen and how to avoid it, than to lose $100 or more.

With this respect what would you recommend?
Backing up your private keys? Printing them out? Creating e-mails that could never be accessed by anyone?

UPD:

Okay then, I have printed out my wallet info and made a couple of backup USB-sticks will all the data, and now I'm wearing them on my neck (joking   ).
All files are protected by a password that would take a rather long time to decrypt.
I've also revised my email boxes and deleted the backup info that could help hackers access my main email.
Anyway, forewarned is forearmed, so I believe that all these "mitigation measures" would be effective 

[lekleklek]

Storing them offline is a must. Writing them down by hand scares me a little bit. I feel like a usb never used online is among the best ways. But I'm not OpsSec wizard.

[ArtVal]

You cant completely eliminate the risk of losing funds from your wallet.
This is what I follow:
1) Do not keep everything in one place
2) Computer security and access
3) Dont talk about your savings
4) Keep Calm and hodl

[Spain2000]

Some time due to our weakness and lack of interest in an activity cause us very bad experience so if we secure our selves and our digital wallet in the present time many hackers can hack your accounts and fort this security the best thing is the privacy of self computer and mobiles and the e mail should use with great care the password we have to change after regular intervals and we should give a strong combinations of words for the better security reasons so i suggest this to every one to not log in in other people computers and laptops.

[NinjaCryp]

For MEW, I never back up a private key. Which I just backed up JSON and created multiple copies to save many places. That is my experience, and luckily all is safe. I have heard of hackers attacking wallets. That's really dangerous.

[Liternyy]

Hackers get control over the mobile phone number in a rather trivial way - they ring the operators and come up with various emergency reasons, according to which the number must be transferred to another device. It would seem that no manager in his right mind and solid memory would approve such an operation, but "hackers do dozens or even hundreds of dialing in different offices until they find one at the other end of the idiot's wire," says Joby Wicks, bitcoin- a businessman whose hackers took a million dollars out of the account, despite the fact that he asked the mobile operator to increase security after his relatives were attacked the same way.

Authentication by mobile phone is considered one of the safest. It is used by Google, Facebook, Twitter, as well as crypto-currency wallets. But having acquired the phone number, hackers can reset passwords on all accounts via the button "Forgot password?". They do not even have to crack them.

"My iPad rebooted, my phone restarted, and my computer started up again, and then I seriously got scared," says Chris Berniske, a crypto-currency investor who lost control of his phone number at the end of last year.

[squatz1]

Not possible on the big wallets which have the big money behind it. The only time this is going to work is if someone could abuse a new deelopers code who made a shitcoin. That is the only time it's going to be possible, as big wallets with big money behind it can't be taken down so easily with hacks.

Plus how could hacks even hurt crypto-wallets anyway? What would it include?

[obinine]

Most people don't bother to secure their wallet,  forgetting that there is a difference between the bank and the blockchain,  the banks holds the private key to your account,  therefore they keep it secured for you.  But in the case of the blockchain,  you have access to your private key and you need to take all the necessary steps to make sure your funds are secured.

[pooya87]

Personally I was shocked by the news that crypto investor Ian Balina had been hacked for millions in ether

you say his name as if he is some sort of expert! no dude, he is just some random idiot on Youtube who is pump and dumping shitcoins mostly ICOs. and he lost his funds because he was so busy participating in pump and dump shitcoins that he forgot the first step is to secure your funds in a cold storage not on some online storage in the cloud which is only protected by your email address!