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Author Topic: With Hackers everywhere, How safe is Cryptocurrency?  (Read 4155 times)
Holucoin10
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August 15, 2018, 07:06:53 AM
 #661

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.


NB: this only protects your holdings if they are stored in an offline wallet that was generated, has always been, and always will be offline. This is commonly referred to as “Cold Storage” in the industry and is a practice used by many cryptocurrency exchanges such as Coinbase and Binance.

With this, we have all we need to create a new and unique ethereum wallet entirely offline. As described above, once you have your private key generated offline its used to create your public key which is then used to create your ethereum address.
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August 15, 2018, 12:54:05 PM
 #662

Actually it's pretty easy. You just need to use your common sense actually. First of all you just need to not do any financial transactover public wifi and changing your password frequently. I'm sure hackers are getting smarter but in turn security measures gey more elaborate. It's just a matter of eliminating the human error in it.
Yeah I admit that changing and strengthen your password regularly and avoiding public wifi while making any importance transactions is the key point to protect us from hackers. Nothing is 100% safe and secured and cryptocurrencies are not an exception and hackers just keep getting smarter and smarter so it is detrimental to prepare yourself some ways to minimise the possibility of getting hacked.
Hacker always trying to hack the wallets of the people and get their crypto currencies, therefore I think that it is important to give extra security to our accounts and protect them from hacking by these hackers. We should 2FA for that purposes and I think that we should also try to keep our cryptos in hard wallet.

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August 15, 2018, 12:56:37 PM
 #663

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 ?
Take all of the security and everything taht can stired it safely and be responsible enough to tust somebody. Be careful about your keys and never save it in email or any social accounts.


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AllCryptoplus
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August 15, 2018, 12:58:20 PM
 #664

Something should please be done to stop the activities of this hackers. It is not good for crypto.
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August 15, 2018, 01:13:20 PM
 #665

For hackers, any new appearance that can attract their attention will be the most urgent topic for hacking.
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August 15, 2018, 01:18:46 PM
 #666

Everyone should just try and protect their wallets as much as possible.
SacriFries11
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August 15, 2018, 01:54:37 PM
 #667

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 ?

Wow. $400 million ? I wish I have at least 1/4 of it but no. It is a really big money and the hackers are probably very happy. They can already stop hacking and start a new happy life with some legal business or what.
Nothing is safe in online. Hackers are everywhere. In order to avoid them, I am very careful in opening my wallet, in giving my address (I make sure that it is not my private key), I only check my coins in etherscan.

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August 15, 2018, 02:52:13 PM
 #668

Yes, this is unpleasant news but I hope that over time there will be no vulnerability.New startups that are now coming out give hope for this.Interacting with the blockchain, artificial intelligence will achieve this goal
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August 15, 2018, 04:00:28 PM
 #669

.It is dangerous to follow all precautionary measures of the blocking system - a kind of bank safe in which tokens and a register with records of transactions are stored. Block-book is a series of records (blocks) containing data and links with which each block is attached to the previous one. In the case of a block, a kind of bank safe that stores tokens and a register with transaction records. Block is a series of records (blocks) containing data and links, with which each block is attached to the previous one.
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August 15, 2018, 06:04:36 PM
 #670

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 ?

Aside from keeping your private keys in a place where you are the only who knows where it is and secured, I think this question doesn't make any sense, i mean they are hackers, you don't when they are going to attack and no matter how strong is your security they are going to find that one weakness that your program has and that's it, the next thing you knew you was hacked by someone.

No one wants his cryptocurrencies to be hacked by those hackers out there, and hackers won't even announce that they are going to hack you, that is weird. So, there is no such thing as "secured" but there is a thing called "precautions".



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August 16, 2018, 09:48:25 PM
 #671

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.

We are the future makers for us, we are the money earner and not money losers so if we will not give anyone a chance to take our money and gives us lose no one can do this, crypto currency is safe if you are careful because it has a lot of wallets which keep it safe and it never lose, we are here so we just need to be a bit careful not to trust everyone website do research and make good, and safe decisions so you will not lose anything.
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August 16, 2018, 10:35:37 PM
 #672

People make security system and 'crackers' eventually find the way to crack it. It's always like that in all areas, never-ending story, going on loop.
On personal level maybe we could protect our device by installing security system and keep it clean as much as it can be using it for nothing else but for that purpose. Maybe separate PC, just for wallet and so. I know that by clicking on something online that can looks harmless you could let some Trojan virus in to your comp and they are in(hackers). Will they be able to make damage, I don't know and I wouldn't like to find out.


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August 17, 2018, 12:34:23 AM
 #673

i think We need to use good and safe wallets trezor is good to use but sometime it does  not appear to be safe the most, I think bitcoin  is safe using bitcoin wallets like blockchain which has private key and password not good to share with anyone, hackers are around us who are in search of chance to scam with us don’t open all kind of links to, people hacks by making some fake sites and names is as PROFIT MAKING s those are scammers they just attract people by such captions so don’t open unknown links,yes till now i never catch out hacked!
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August 17, 2018, 03:15:59 AM
 #674

I do not think anyone's really safe. We now speak the internet here in general. Regardless of the site where you stay, always have the risk of being hacked. Hackers do not sleep for daisies. They will always exploit the script of the site and will take whatever is in it, to avoid hackers from securing your coins in a difficult wallet, or simply not opening sites or links sent to you because some of them can be used by hackers to get your personal information.
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August 17, 2018, 03:38:47 AM
 #675

I would say hackers are everywhere and they can not stop running the crypto currencies because they know very it's anonymous nature is leading factor for them. They kind of get extra layer of protection. Anyway with some research they can be caught.

About the precautions . .

1. You should store your tokens and/or coins in the wallet for which you hold the private keys.
2. Obviously store these private keys in safe place and I would suggest that you should save them in the offline password manager.
3. Never ever go to link of your wallet from different websites, chats etc. Always bookmark your wallet website link.
4. Using the hardware wallet is advisable but looking at the cost you may prefer focusing on the first three points.
5. Storing the tokens on exchanger is worst idea. Hence follow the rules 1, 2 & 3.
5. Do not use public internet and I am pretty sure if you access wallets like that then you will loose your money.


That's all I know and I follow.
Hackers are always searching or making new ways just to hack. It will be much better if we are browsing the net anonymously to avoid being tracked by hackers.  Avoid also clicking PHISHING SITES because when you put your credentials it will easily be hacked.  This thread will become useful when it comes to avoid scam/hacking cryptocurrency. Link here.

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August 18, 2018, 11:47:21 AM
 #676

I would say hackers are everywhere and they can not stop running the crypto currencies because they know very it's anonymous nature is leading factor for them. They kind of get extra layer of protection. Anyway with some research they can be caught.

About the precautions . .

1. You should store your tokens and/or coins in the wallet for which you hold the private keys.
2. Obviously store these private keys in safe place and I would suggest that you should save them in the offline password manager.
3. Never ever go to link of your wallet from different websites, chats etc. Always bookmark your wallet website link.
4. Using the hardware wallet is advisable but looking at the cost you may prefer focusing on the first three points.
5. Storing the tokens on exchanger is worst idea. Hence follow the rules 1, 2 & 3.
5. Do not use public internet and I am pretty sure if you access wallets like that then you will loose your money.


That's all I know and I follow.
Hackers are always searching or making new ways just to hack. It will be much better if we are browsing the net anonymously to avoid being tracked by hackers.  Avoid also clicking PHISHING SITES because when you put your credentials it will easily be hacked.  This thread will become useful when it comes to avoid scam/hacking cryptocurrency. Link here.
hackers in my opinion he's a smart person he always uses new things to hack our account. we must always open an account and change a password that is a little complicated.

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August 18, 2018, 11:50:09 AM
 #677

You should not go on unfamiliar links, including in the sent letters. You should get a hardware purse.

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August 18, 2018, 01:10:07 PM
 #678

I think it's safe. Because it's hard to steal crypto currency. In other words, to steal tokens or modify a distributed registry in a different way, cybercriminals will have to infect hundreds of thousands of computers on the network at the same time. Decentralization and encryption of the blockade protect the crypto currency from hacking.
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August 18, 2018, 02:43:30 PM
 #679

You should not go on unfamiliar links, including in the sent letters. You should get a hardware purse.

It's still relatively safer from hackers than fiat though. With your own safe keys and phrase and a super random address, it would take hackers a lot of time and effort to even have a chance at cracking your wallet, if they even get through the randomness of your address. Your own carelessness would be what will compromise your funds.

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August 18, 2018, 03:43:27 PM
 #680

a solution that i want to share is try the cold wallet, a cold wallet is an offline storage device that can only be accessed physically. a hot wallet, on the other hand, is stored online and can be accessed through the internet. The advantage of a cold wallet over a hot wallet is that the latter is not accessible online and is therefore not prone to hacking.

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