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Author Topic: With Hackers everywhere, How safe is Cryptocurrency?  (Read 4193 times)
tikanurqaidah
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August 12, 2018, 01:44:47 AM
 #641

A private key is a very vital thing from your wallet, like a private key's human body like your heart is your wallet if you give it to someone else like you give your own heart to someone else. Never store large amounts of Bitcoin on an Exchange website for a long time, because the wallet provided by the Exchange site is basically their wallet address especially if the wallet has a generate feature
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meaamir86
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August 12, 2018, 02:17:28 AM
 #642

Bitcoins are secured using a combination of cryptography and economics. You have to solve a difficult cryptographic puzzle and this means very powerful computers are needed to do Bitcoin mining. These computers are very expensive to buy – which at the same time makes them very secure.

The risk is that Bitcoins would be stolen, in the same way that money could be taken from a person’s bank account. Criminals might look to infect someone’s computer using a virus by sending out phishing emails targeted at those with Bitcoin wallets.
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August 12, 2018, 02:21:10 AM
 #643

If you take the proper precautions you can render hackers unable to steal your funds.  It's up to you though to be responsible for your own security.  Keep a backup on paper along with a usb buried in a pvc pipe.  Have a dedicated computer for your crypto transactions.  This can be a pos computer.  No need to spend a lot.  Get a hardware wallet.  A bunch of simple things can really protect you. 

MyCryptoBank.io  ――  Legal and Reliable Crypto Bank
――  CRYPTOBANK FOR CRYPTOCOMMUNITY  ――
Voidcrafter
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August 14, 2018, 09:12:36 AM
 #644

Before hackers hacked the websites of banks. Now hackers break into websites and smart contracts. And thus helps to protect the code. Creators and developers will always find vulnerabilities in the code that can be leaked. Many large companies announce tenders on the, who can able to crack their code and for this pay them big money. As for hackers, you don't need to go that far. Every hacker is a developer, only he stood on the black side of the Internet.




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Janation
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August 14, 2018, 09:22:48 AM
 #645

Before hackers hacked the websites of banks. Now hackers break into websites and smart contracts. And thus helps to protect the code. Creators and developers will always find vulnerabilities in the code that can be leaked. Many large companies announce tenders on the, who can able to crack their code and for this pay them big money. As for hackers, you don't need to go that far. Every hacker is a developer, only he stood on the black side of the Internet.

There are the bad type of hacker and there are also this type of good hacker. The hacker we usually knows rob information or data from us when our security is not that really tight against them.

As far as I know, White hats are the good hackers, they are also called ethical hackers and I agree that they are really developers since they are responsible for a lot of improvement from the vulnerabilities of the system.

Salala1
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August 14, 2018, 06:10:09 PM
 #646

Cryptocurrency now is not safe nowadays due to numerous hackers in the system. I remember my first account was hacked after i had filled an email form that i stand the chance of doubling my coins. It is all about vigilance. Let us keep awake because hackers are all over.
Crystal24
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August 14, 2018, 08:12:06 PM
 #647

Cryptocurrency wallets and accounts are vulnerable to hackers and malicolious elements.
This they can do when they gain access to ones private key etc.
Reason users should be very careful with storing their private keys.
innocentlamb
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August 14, 2018, 08:24:32 PM
 #648

20% safe and 80% dangerous. Cryptocurrency is the new playground for hackers and if you are skillful enough, you can pull out very big heists and become a BTC millionaire in no time. It's sad, but true. That's why you should be very careful and protect your portfolio at all costs.
Pab
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August 14, 2018, 08:34:20 PM
 #649

Hackers are everywhere not only in crypto. They are even in buses when you discover
that your wallet disappear you have been hacked
There is lot of story about crypto hack not so much about bank hacking guess why
At least if you keep money in your own wallet one hacker is off.That hacker is your own bank

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Cobrak777
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August 14, 2018, 09:02:19 PM
 #650

Cryptocurrency is vulnerable to hackers and they always find different ways to get a hold of your funds so we should learn from others mistake and do what we can to increase the security of our private keys, I suggest that we explore this forum because there are lot of advise from the expert on how we can secure our funds.
Daday23
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August 14, 2018, 09:11:30 PM
 #651

We cant deny that today hackers is also increasing and wherever you go there is always a hackers.For you to avoid become the victim àlways keep your coins safety.Avoid using free internet when you open your account there is a tendency that your coin will loose.And also avoide using other gadget when you open your wallet.
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August 14, 2018, 09:31:26 PM
 #652

Cryptocurrency is vulnerable to hackers and they always find different ways to get a hold of your funds so we should learn from others mistake and do what we can to increase the security of our private keys, I suggest that we explore this forum because there are lot of advise from the expert on how we can secure our funds.
Protecting the account in this market is also a way that investors need to learn to not lose money unfairly. The cryptocurrency market is targeting hackers with bad intentions, so keep your account and wallet secret safe because your assets can be stolen at any time.
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August 14, 2018, 09:34:17 PM
 #653

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 ?

while blockchain shows promises in its ability to support an endless number of innovative financial trading, payments, healthcare, government and other critical applications, recent high-profile breaches of exchanges show that blockchain participants and their access to the blockchain represent a security weakness that must be addressed before the technology can reach its full potential.

Protecting cryptographic keys remains a top concern. Using hardware security modules (HSMs) and trusted computers in place of digital wallets and as blockchain nodes will give security-conscious users and organisations assurance that no matter what blockchain application they choose, they have the means to protect digital assets.
Holucoin10
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August 14, 2018, 09:35:35 PM
 #654

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 ?
It is very true that there are so many great hackers everywhere that's why we should make sure that we are using a very secured wallet like using myetherwallet or maybe blockhain because when we used a secured wallet for sure the hackers can not hack it.

In blockchain applications, the digital asset and the means to protect it are combined in one token. Nobody can steal or copy the digital asset unless they have the secret code or ‘private key‘ that unlocks the cryptographic protection of the asset. However, storing private keys in software or on a piece of paper is the equivalent of leaving your house keys under the welcome mat.

While blockchain technology secures data in transit from place to place using cryptography, the private key becomes vulnerable to theft when it is stored or displayed at one end or the other – whether that is on a piece of paper, screen, disk, in memory or in the cloud.
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August 15, 2018, 02:56:32 AM
 #655

A private key is a very vital thing from your wallet, like a private key's human body like your heart is your wallet if you give it to someone else like you give your own heart to someone else. Never store large amounts of Bitcoin on an Exchange website for a long time, because the wallet provided by the Exchange site is basically their wallet address especially if the wallet has a generate feature

I concur. It's advised to never share a private key with anyone, as your funds could be easily stolen. Also, leaving coins in an online exchange is a terrible idea, especially if you don't have access to the corresponding private keys. Your funds would be under the custody of an exchange, which is a huge risk as hackers can compromise it and take your hard-earned money away.

To be safe, just leave the amount of coins you're willing to trade on an exchange, and quickly cash out, to prevent losing funds. Depending on a hardware wallet for any kind of transaction, is a wise idea, since it prevents malicious actors from gaining access to your cryptocurrency balances. With good education, I'm sure that many people would avoid getting their funds easily hacked by a hacker. But newcomers, are usually the victims here, since they don't follow the necessary steps to help secure their cryptocurrencies. Grin
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August 15, 2018, 05:51:03 AM
 #656

All we need to do is limit ourselves from exploring websites that are not trusted. stop believing in something they say is too good to be true. it's better to have the benefit of doubts in everything you do, especially on the Internet. All we need to do is limit ourselves from browsing websites that are not trusted. stop believing in something they say is too good to be true. it's better to have the benefit of doubts in everything you do especially on the Internet .
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August 15, 2018, 06:06:45 AM
 #657

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 ?
It is very true that there are so many great hackers everywhere that's why we should make sure that we are using a very secured wallet like using myetherwallet or maybe blockhain because when we used a secured wallet for sure the hackers can not hack it.
and also dont click unknown link, it can be very dangerous if this is one of their methode to attack our wallet.the security is depend on our self.

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August 15, 2018, 06:47:07 AM
 #658

altcoin and bitcoin are very safe to use. an insecure one is an exchange site. bitcoin uses a blockchain system with a high level of security. You can see, many hackers are trying to break into the exchange site. not blockchain. that means blockchain is very safe to keep your bitcoin. and don't save your bitcoin on the exchange site.

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August 15, 2018, 06:54:47 AM
 #659

If you hold any cryptocurrency, you’ve probably heard horror stories of people opening their wallets to find all of their coins missing. Some months ago, cryptocurrency investor and influencer Ian Balina suffered a hack that drained $2 million worth of cryptocurrency live during one of his regular youtube streams. Also, MyEtherWallet, a popular free web based ethereum wallet fell victim to a DNS attack which emptied the wallets of some of its users.

With all the bad press about millions being stolen through cryptocurrency hacks, the average consumer may wonder why anyone would risk their hard earned money on crypto. As it turns out, cryptocurrency is actually the safest form of currency you could possibly use online today. With some extra effort, you can safely view your balances, send and receive transactions all with near 0% chance of your funds being stolen. Sound too good to be true? It’s simple.
Holucoin10
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August 15, 2018, 07:05:07 AM
 #660

A private key is a very vital thing from your wallet, like a private key's human body like your heart is your wallet if you give it to someone else like you give your own heart to someone else. Never store large amounts of Bitcoin on an Exchange website for a long time, because the wallet provided by the Exchange site is basically their wallet address especially if the wallet has a generate feature


Just my point. If you want to use cryptocurrency without getting hacked then you need to both create your wallets and make your transactions entirely OFFLINE.
Unlike with traditional banks, you have the power to create accounts (wallets) and transactions by yourself and while your computer is completely disconnected from the internet. To understand how this works let’s use ethereum as an example and take a brief look into what makes up an ethereum wallet:
Ethereum wallet is made up of a private key, public key, and address.

The private key is like your account’s password. Its used to “sign” transactions (think sign off or approve). It should never be shared with anyone. It’s a long string of text that is randomly generated when you create your wallet.
0x3a1076bf45ab8..................................fdd9a537d8fe266

The private key is used to generate an even longer string called a public key. Public keys are used to validate transactions with the private key. You can learn about how public-key cryptographic works from this article.
0xefb99d9860f4dec4cb548a...58b19a89d2e56a864427298f826a7f887

The public key is used to generate a 40 character string called your ethereum address. This is like your account number It can be used to look up your balances and receive funds.
0xc2d7cf95645d33006175b78989035c7c9061d3f9

The only two things you need to keep track of are your ethereum address (Account number) and private key (password). If you’ve ever used a random password generator you can think of your private key the same way. It was generated through a process that randomly selected each letter/number in a way that is so random the result is nearly guaranteed to be unique for practical purposes. This process happens directly on your computer without any need for an internet connection.
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