Hacking is the Big Problem

[South Park]

Guys…

I read the new the Japanese Exchange Coincheck loses ¥58 billion in the hacking attack. It’s not a single case in this after a few weeks ago Etherdelta was also Hacked. So how can we ensure that our money is safe on exchanges?

this is one of the main reasons many of us recommend to not put the most of your money on exchanges. The safest way to keep your money is into your own wallet, where you have full control. Otherwise you are at the mercy of similar events.

Yes keeping your coins in your own wallet is better but you also need to take precautions, many do not even bother to store their money securely in their computers and that is why we hear many stories of people that lost their coins even  when they were holding their coins in their personal wallets,  that is why hardware wallets are the best option to store our coins, yes it is not free but when it comes to our coins we cannot afford to be cheap.

[Atect90]

Using exchange for saving money is not recommended you should fund your exchange account the amount that you can afford to lose and use the exchange for trading not for keeping money for long period of time. For me if you want to keep your fund safe just transfer your fund in hardware wallet which you are the only one can access that wallet.

Yeah wallets are the most good and best places for it if you are having bitcoin you will have to hold it and holding is not the problem if you have wallet, hardware of paper wallets are the best option as it can be use anytime. You will have to install a wallet I your PC or in your phone so no one will be able to hack your bitcoin. Blockchain service is the best service among all wallets now.

[unexecuted]

Guys…

I read the new the Japanese Exchange Coincheck loses ¥58 billion in the hacking attack. It’s not a single case in this after a few weeks ago Etherdelta was also Hacked. So how can we ensure that our money is safe on exchanges?

I also was shocked when I heard about this news. As i understood it was the biggest hack attack in the history of crypto. Actually I think nobody is safe in the world of crypto. It is unstable and risky. People have to understand it when they buy cryptocurrency

[davinchi]

In most cases, the security of your money depends only on you. In the case of Etherdelta, those who used MetaMask and hardware wallets were not harmed.

Yes that’s true, everyone’s safety depends mostly on them, so you’ve got to be careful on how you share your info and things that has to do with your bitcoin wallet. Most people do say that it is good to have your accounts/wallet 2fa setup, cause it protects against hacking, but I don’t know how effective 2fa will be in protecting against hacking… when I was using Yahoo mail, they had a feature that let’s you make use of a particular mobile system for your wallet, which will act as the key for anyone that wants to log in. So as long as you have that mobile device with you, nobody would be able to log in.

[gamalzour]

In most cases, the security of your money depends only on you. In the case of Etherdelta, those who used MetaMask and hardware wallets were not harmed.

If you will keep yourself secure by taking all the possible precautionary measures, then it will be very much difficult for any of the hacker to breach the security and to get access over your account or to get your money. The only thing which can harm you is leaving any such kind of spot whom hackers can then target easily and thus making things very much difficult for you. You need to be well prepared especially when it comes to that of the security.

[serjent05]

Guys…

I read the new the Japanese Exchange Coincheck loses ¥58 billion in the hacking attack. It’s not a single case in this after a few weeks ago Etherdelta was also Hacked. So how can we ensure that our money is safe on exchanges?

I also was shocked when I heard about this news. As i understood it was the biggest hack attack in the history of crypto. Actually I think nobody is safe in the world of crypto. It is unstable and risky. People have to understand it when they buy cryptocurrency

Everything else is not 100% secure especially when we are entrusting our currency/cryptocurrency to an institution.  There is always this kind of bankruptcy thing and even though they tell us our investment is secure and insured, there is only part of our investment that is secured, and if we exceed the amount allocated for insurance then all of it is gone.  If you are talking about trading and investing in cryptocurrency, you can always nullify or minimize the risk as long as you are capable of researching and updating yourself.

[eann014]

Making money by hacking is a very bad thing because the good man has many problems. Myethear wallet has been hacked a few days ago. Man's money, bank account is not safe.

Bank account is also not safe, there are also hackers who hacks in some bank accounts. Bitcoin wallet can also be hack so maybe let's just double take good care of our wallets to avoid being hacked.

[Kevin77]

You don't. Hacks target the exchanges wallet by finding exploits and not the user accounts separately. If you want your funds to be safe, use exchanges for trading only and withdraw to your personal wallet.

it makes me little scare sir, how about the wallet? it's still safe?, if you have any recomend ,what's good exchanges  sir?

There is nothing like a good exchange. If you are holding for the long term, you can decide to go the cold storage way. If you do not have the cash for stuffs like ledger Nano, you can just generate a paper wallet and your public key is the only thing you need to always receive funds.

As long as you are not trading, never leave your funds in an exchange and even if you are trading, make sure your account security is sound enough.

One thing is to always make sure safety is paramount when it comes to cryptocurrency just like the OP stated. We cannot always avoid some of these things, but the earlier people started knowing how to stay secured, the better. Expert hackers or not, if you leave yourself vulnerable to an attack, you will definitely be a victim and the best is to always be on the lookout, most especially for any phishing links.

[Meowth05]

Guys…

I read the new the Japanese Exchange Coincheck loses ¥58 billion in the hacking attack. It’s not a single case in this after a few weeks ago Etherdelta was also Hacked. So how can we ensure that our money is safe on exchanges?

Just don't leave your coins into a exchanging sites and put it all in a cold storage or to most trusted online wallet. As long as you are not making a transaction don't ever leave your balance to prevent from being stole. Bitcoin has a huge amount yet, it is digital that is why be secure to your saving because online world is vulnerable to hackers.

[South Park]

Guys…

I read the new the Japanese Exchange Coincheck loses ¥58 billion in the hacking attack. It’s not a single case in this after a few weeks ago Etherdelta was also Hacked. So how can we ensure that our money is safe on exchanges?

I also was shocked when I heard about this news. As i understood it was the biggest hack attack in the history of crypto. Actually I think nobody is safe in the world of crypto. It is unstable and risky. People have to understand it when they buy cryptocurrency

Hackers are dangerous that is true but at the same time you can avoid most attacks by just being cautious, do not use pirated software of any kind a lot of that software has viruses or key loggers, install a safe operative system, a lot of people still use windows when they should use Linux, install a wallet from the official site and keep that wallet offline, if you do that the chances of being hacked are lower.

[AngelSky]

Guys…

I read the new the Japanese Exchange Coincheck loses ¥58 billion in the hacking attack. It’s not a single case in this after a few weeks ago Etherdelta was also Hacked. So how can we ensure that our money is safe on exchanges?

Just don't leave your coins into a exchanging sites and put it all in a cold storage or to most trusted online wallet. As long as you are not making a transaction don't ever leave your balance to prevent from being stole. Bitcoin has a huge amount yet, it is digital that is why be secure to your saving because online world is vulnerable to hackers.

But many times we see people who looses the fund on the trading site only. Other than this some sites got stolen funds like NiceHash and something. Which is used to sell the hash power. As you said I too wanna advice the people to move the fund to the desktop wallet in every week atleast.
I do not know when they comes to bitrex, LBC and other big trading platforms.

[mostkey]

You don't. Hacks target the exchanges wallet by finding exploits and not the user accounts separately. If you want your funds to be safe, use exchanges for trading only and withdraw to your personal wallet.

this will be one of the safest ways that can be used. but if one exchange is hacked. can we get back the money we have deposited? I think some big exchanges will have exceptions about the missing funds. and maybe you can deposit the funds in a large and highly enriched exchange. because it is unlikely that the exchange will be crushed

[iconzi]

Now a days, its more likely the insider job if any crypto exchanges is really hacked. Due to untracable, Decentralized properties of Crypto, It's really easier to hack it and move funds anywhere they want.

[Coppers]

because I am new in the world of crypto hopefully all this problem can be given way out because my anxiety

You are new it means you have a lot of research to do before you go ahead, first of all you will have to know the rules of bitcoin, as it is all the time best to buy low and sell high, for this you will have to remain active in this forum so you will be updated about the bitcoin price change. If you are knew I would suggest you to invest small at first then after getting profit buy more, once you buy bitcoin be fast to install a wallet and it should be blockchain that is the best wallet for bitcoin.

[bert20]

Therefore, the basically Prolema haking. The work of people not thinking right. This major problem you can profit and lost account.Must we always secured our accounts so that it cannot be hacked because when hack can lose all our money .

[bravehearth0319]

Guys…

I read the new the Japanese Exchange Coincheck loses ¥58 billion in the hacking attack. It’s not a single case in this after a few weeks ago Etherdelta was also Hacked. So how can we ensure that our money is safe on exchanges?

Etherdelta don't have 2FA authentication factor which other exchanger's have, no wonder why etherdelta is a dangerous platform to trade in. BUt still there more traders using it even they know it has a big risk for what they're doing it.

[Rooster101]

There are already countless measures used to prevent hacking but hackers always find ways to get ahead in technology. if modern technology gave us numerous benefits by using it, it will also give us serious problems because it can be use by someone to steal valuable information from you computer. Frequent upgrade in security is needed to avoid being hacked in the future. Developing more secure environment should also be pursued to keep up abreast with the newest development in technology.

[zhanghoqi5]

There's nothing to do. The more you encrypt money, the more hackers will go up, and your wallet can be hacked, and that's something you can't do.

[adzino]

If you get hacked than its your own fault. If you play smart and don't do anything stupid, you can avoid getting hacked and lose your money.
Exchanges do/can get hacked. So that is why everyone recommends not to store your coins on an exchange for a long time. And also always choose a very trusted exchange when trading coins.

[Lanatsa]

If you get hacked than its your own fault. If you play smart and don't do anything stupid, you can avoid getting hacked and lose your money.
Exchanges do/can get hacked. So that is why everyone recommends not to store your coins on an exchange for a long time. And also always choose a very trusted exchange when trading coins.

Theres no such trusted exchange yet all of them do really have the possibilities on getting hacked.Theres no assurance anytime since anything on this online space do really have hackers which can penetrate security and this is why as a trader or investor we should think off on these possibilities and only store up few amounts of coins on various exchange. Better to be wary than sorry.