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Author Topic: With Hackers everywhere, How safe is Cryptocurrency?  (Read 4174 times)
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July 31, 2018, 12:16:27 PM
 #561

it's really necessary to increase defence of transactions of cryptocurrencies
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July 31, 2018, 02:17:01 PM
 #562

We all know that in every business in this world. Everything that money is involve, we can say that hackers are just everywhere. They are just waiting for the right moment to attack. I think the system of cryptocurrencies like bitcoin are very secure. They will not let the hackers win. So that is why bitcoin is safe.

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July 31, 2018, 03:21:45 PM
 #563

Crypto is safe as long as you protect your private keys. Your bitcoin address is like a username (public info), and the private key is the password (keep this private).

When possible, use a cold wallet (encrypt and store private keys offline, and keep encrypted backups) or use a hardware wallet e.g. Trezor or Ledger. Sign the tx offline and only connect to internet when you push the tx.

If you use Windows, make sure to use anti-virus to protect from viruses that can steal BTC. This probably isnt necessary on OSX or Linux. Be aware of phishing attacks and scams. Make sure to type the exact URL of any exchange or web wallet to avoid misspelled phishing URLs. If you receive an email or message that asks for your private key, dont send it (even if they claim to be from support) because this is a scam. When you buy or sell a product or service for bitcoin, use escrow to avoid scams.

Dont store large amounts in exchanges. If you dont control your private keys -- or if a third party has access to your private keys -- your BTC are not fully yours and they can be stolen. Treat any web wallet or exchange like a physical wallet for daily spending, and an offline wallet or hardware wallet like a secure safe for your savings.

If you control and protect your private keys, you should be safe and have no problems with crypto.

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July 31, 2018, 03:41:22 PM
 #564

Its no longer news that an ICO in Japan has lost over $400 million to hackers. They promised to pay back investors who invested in their ICO. Thsi is a huge loss. After I read that news, I began to wonder. How safe is Bitcoin and Other altcoins? What measures should we take to avoid being hacked ?

First of all search for a secure wallet to protect your funds. It is better to secure a hard copy of all the information in your wallet, social media was very prone to hacking so avoid storing the information to your social media account. Also, when receiving emails, filter it. always check if the link included was not suspicious or rather ignore these messages and the golden rule, don't talk to strangers especially about the information.

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July 31, 2018, 05:19:47 PM
 #565

Honestly speaking, cryptocurrency is a very unsecured and unsafe commodity. Since it is a trending thing nowadays and is seen by many as the future of money, it appears very interesting in the eyes of everyone, especially in the thieves'. Another thing about it that grabs the attention of the online culprits is its being new as a technology. They probably sense that it has still a lot to improve. Cryptocurrency has a huge potential and edge over fiat currency; thus it’s not surprising if almost everyone, if not all, swarms to have it by hook or by crook, even at the expense of hacking.
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July 31, 2018, 06:29:00 PM
 #566

Its no longer news that an ICO in Japan has lost over $400 million to hackers. They promised to pay back investors who invested in their ICO. Thsi is a huge loss. After I read that news, I began to wonder. How safe is Bitcoin and Other altcoins? What measures should we take to avoid being hacked ?
hackers like ghosts in cyberspace, they come suddenly take what they want and then just go as they pleased.
about bitcoin security, there is a term that says "no security system is really safe".
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July 31, 2018, 07:12:25 PM
 #567

I do not think that in the modern world we are completely safe from hacker attacks and this applies to all spheres, and not just cryptocurrencies.

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July 31, 2018, 07:19:26 PM
 #568

Its no longer news that an ICO in Japan has lost over $400 million to hackers. They promised to pay back investors who invested in their ICO. Thsi is a huge loss. After I read that news, I began to wonder. How safe is Bitcoin and Other altcoins? What measures should we take to avoid being hacked ?

To me I don't see it has top notch hacking. Taking a background entry inside exchanges, hacking coins on exchanges using someone's gmails, also jacking people wallet with private keys. To me I feel like all these acts ain't hacking. Where am from Hackers don't really key they device there own key. But making use of private keys or using peopled's gmail to gain access to exchanges isn't really hacking I feel like its once act of carelessness or exchanges act of carelessness. Such transactions always have an insider like an admin for the exchange betraying the whole firm.  And the issue of wallets being hacked, watch ur back. It's ur best friend or a neighbor...trust me that person has access to you.  A strange person can't just hack ur wallet. Or the issue of airdrops. Airdrop requesting for passwords also use that method to hack people's mail. For people using the same password thereby making them vulnerable. This is what I know.  Cryptocurrency is still very safe.

In addition to this. The act of phishing isn't really hacking. There are over 250000 hackers. Nobody has been able to hack a single wallet. Crypto is not joke. There was a man that misplace his private key with thousand bitcoin said he was gonna pay huge to anyone that can hack the wallet. The probability and combination of a private key is just infinity. 😂
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July 31, 2018, 07:20:56 PM
 #569

Its no longer news that an ICO in Japan has lost over $400 million to hackers. They promised to pay back investors who invested in their ICO. Thsi is a huge loss. After I read that news, I began to wonder. How safe is Bitcoin and Other altcoins? What measures should we take to avoid being hacked ?

In my own opinion, cryptocurrency is not safe as banks and that is one of the downside of bitcoins as well as other altcoins but not all the markets has the same security system and that is the reason why there are exchangers like kucoin or binance which has a good reputation in terms of hold the coins of their investors.
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July 31, 2018, 09:30:00 PM
 #570

Hackers are really everywhere so better never give anyone informations about your wallet keys and keep it safe by activating your two factor authentication and also keep many back up to secure your wallet.
I agreed with what you said because that's the proper way to protect ones wallet but if will see any users which his/her don't allow the use of 2 factor authentication such person should use update antivirus, updated wallet, block ads on his/her browser and don't open suspicious email.

Base on the OP question. Crypto currency is safe and it only the owner or user that need to avoid human errors.

MrKubeem
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July 31, 2018, 09:58:26 PM
 #571

I think cryptocurrency is still safe for every people and it's more secure if we can save our private keys and our wallet from the attacker and you can find many ways about how to secure our wallet. and if you still afraid of the attacker, I think you can move your coin to your personal wallet so only you that could control and only you that can watch your coins. but there is no 100% guarantee for us to keep our wallet or our coin safe in all day long but we could prevent the attackers.
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July 31, 2018, 10:02:54 PM
 #572

Risk from hackers arw everywhere but there are things that we can do to prevent becoming a potential target. Never share or access your wallet in unsecure environments to avoid jeopardizing your account.

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July 31, 2018, 10:23:10 PM
 #573

India has launched a new branch of Police investigate all the cases inside India which are related to cryptocurrency. I think it's a good step because in India other people will and are starting to use Bitcoin and other altcoins. As time will pass Bitcoin Ban will also convert into the freedom of using Bitcoin and that time we need a lot of Government support to make this secure.

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July 31, 2018, 10:24:35 PM
 #574

Cryptocurrencies are really safe even with lots of hackers all over the world. However every user of crypto must follow a number of strict rules in order to keep his funds safe.

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July 31, 2018, 11:14:18 PM
 #575

We really can't tell that the internet is safe anymore. Knowledge and skills are very easy to gain, just by watching at youtube videos, you can be a hacker. But, if the hackers are evolving and developing, even the moderators, programmers, and I.Ts of the cryptocurrency are gaining knowledge and skills to counter the attack of the invaders. You can only say that the internet is totally not safe anymore is when the computers have its own mind, and start creating codes for itself to bypass every data base in the world.
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July 31, 2018, 11:22:38 PM
 #576

India has launched a new branch of Police investigate all the cases inside India which are related to cryptocurrency. I think it's a good step because in India other people will and are starting to use Bitcoin and other altcoins. As time will pass Bitcoin Ban will also convert into the freedom of using Bitcoin and that time we need a lot of Government support to make this secure.
That looks good from a country that has a plan to ban the usage of cryptocurrency. More the usage, more will be the complications faced by the users. This can be of the hackers or some other ways of scamming, when there is someone to inspect if something happens malicious surely gain trust upon people to use it in a better way.

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July 31, 2018, 11:38:16 PM
 #577

I did got informed of a very close colleague that got his ethereum wallet hacked. I do know the guy to be a very careful person and the thought of having him hacked means I don't know how secured/safe mine is and with some of my other friends who have only just started gathering some altcoins. I feel cryptocurrency so still safe to some extent till extra measures are being taken to safeguard people's wallets.

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August 01, 2018, 04:03:49 AM
 #578

You have nothing to worry if you secure your account properly. Keep your codes and passwords plus wallet keys on a safe place and be sure to use 2Fa authenticators so that it will be hard for hackers to open your account.
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August 01, 2018, 06:40:29 PM
 #579

It is just as safe, as careful we are. If we take all the neccesery steps to not be hacked, it is not that risky IMO.

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August 01, 2018, 07:14:24 PM
 #580

Its no longer news that an ICO in Japan has lost over $400 million to hackers. They promised to pay back investors who invested in their ICO. Thsi is a huge loss. After I read that news, I began to wonder. How safe is Bitcoin and Other altcoins? What measures should we take to avoid being hacked ?
Almost every digital data in this world can be hacked, so our funds are as safe as any other resourse (emails, pin-codes, social accounts, personal info).
Storing coins on exchanges has become a huge problem because you never know whether another hack attack would affect your money.
I can't think of a clear answer what to do in such a situation, maybe just try to choose the most reliable exchanges for trading.
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