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Author Topic: With Hackers everywhere, How safe is Cryptocurrency?  (Read 2957 times)
zhekinsp
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January 31, 2018, 06:56:02 AM
 #81

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 ?

Crypto is actually really safe, what's unsafe are the companys holding our money.

You are right,crypto currency are totally safe but we have to keep it in a safe wallet for without being hacked.If you keep you funds in online wallets or in exchanges then no one is resposible if that money hacked.

Crypto currencies are really safe until it kept in a wallet with private key access.

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January 31, 2018, 07:09:58 AM
 #82

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 ?
Yes there are a lots of hacker here in this world. Most of the time we really don't know when the hackers will attack. We should be aware and make it sure that our accounts are secured , I also used online wallets to make it secured and no one will allowed to hacked .
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January 31, 2018, 08:18:06 AM
 #83

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 ?

Crypto is actually really safe, what's unsafe are the companys holding our money.

You are right,crypto currency are totally safe but we have to keep it in a safe wallet for without being hacked.If you keep you funds in online wallets or in exchanges then no one is resposible if that money hacked.

Crypto currencies are really safe until it kept in a wallet with private key access.
Yes, algorithm based on which the encryption done for crypto currency is always ensuring (at least so far) the security of our of assets.

Breaking that encryption will not be possible for any hacker in near time as it is kind of searching one particular sand in beach. Some people do claim that quantum computer will be a threat for the encryption of crypto currencies. But we can be sure like crypto currencies will be switching into new encryption model which will be more secure against quantum computers too. So, we never need to worry on this as there are many developers and experts will be working hard to ensure our crypto currency's protection always.

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di.ako.toh
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January 31, 2018, 10:09:08 AM
 #84

I think it would be safer for cryptocurrency from hackers as long as the security are locked from hackers and there are safety precautions. As hackers are everyone, so awareness are very must  to consider in the cryptocurrency.

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January 31, 2018, 10:12:39 AM
 #85

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 ?

I think bitcoin and other altcoin is safe but the problem is how good the dev and the team to protect their website or the project so there is no hacker that will try to enter the project and steal the investor money. as long as the dev and the team could give a good protection, I think the project will be safe and they can continue the project without worry. and if somehow the ICO is getting hacked by someone, then the dev and the team needs to give the investor money and this is the consequences that they should know.

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January 31, 2018, 10:55:00 AM
 #86

I dont think its safe because we can be hacked without we even noticed about it. But mostly i think some wallet didnt have enough protection, some only used private key to gain access into their wallet without any other secondary protection. My mew was hacked a few weeks ago without i even noticing about any changes in my computer and after that i took counter measurement to store private key and any other thing necessary to gain access in offline storage.
4. Using the hardware wallet is advisable but looking at the cost you may prefer focusing on the first three points.
5. Do not use public internet and I am pretty sure if you access wallets like that then you will loose your money.
Using hardware wallet is mostly advisable but how do we know that the wallet didnt have any flaw in productions? And i dont know about public internet, i used home internet and i dont even know how my internet was compromised as i also got a total antivirus which block ads and anything. But i guess no matter what, any hacker will always be more cunning then people like me  Angry Angry

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January 31, 2018, 10:59:25 AM
 #87

We are all now not safe from hackers, hackers are everywhere just waiting for us to make mistakes.
So always becareful in everything you do, you didnt know it might scam. Always keep your private information dont expose it, like your private key and always make a strong password. If you have a big money or cryto just keep it in a safe and strong wallet.
So, always be wise and always be aware in everything you do.because in every mistakes theres always a consequences.
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January 31, 2018, 11:14:20 AM
 #88

I think it would be safer for cryptocurrency from hackers as long as the security are locked from hackers and there are safety precautions. As hackers are everyone, so awareness are very must  to consider in the cryptocurrency.

The reason you are increasing the security of your Digital currency wallet in order to keep them safe and sound from hackers that is so active right now since some of the digital currencies right now are really valuable. Every hacks that is happening these days must be a lesson to people especially to a lot of trusted and mostly used Exchanges in the Internet. For us Users, securing our currencies are easy, there is a lot of ways to make it secure.

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January 31, 2018, 11:25:32 AM
 #89

Sad to hear that,
now indeed looks the hackers are increasingly vibrant considering the price of cryptos had a higher tendency. Well.. we should be more vigilant on the selection of wallet address site, including exchanger's site and can really to observe about the security of wallet. And also we should be more vigilant on the ads that will not necessarily be the clarity and the truth.
In the country that already has been legalized.. it was had been hacked, let alone for the countries that hasn't legalized bitcoin yet., maybe it will be more prone to be hacked.
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January 31, 2018, 11:29:52 AM
 #90

I think the best way to secure our cryptocurrencies is through keeping it in an offline wallet or some cold storage,
We should use Nano ledger or any Hardware Wallet just to make sure that it is safe and secure.

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January 31, 2018, 11:42:08 AM
 #91

Simply put, this is the major reason the 2FA and SMS authenticators are optioned on exchange sites and wallets too. Sadly, not many traders look at these features let alone enabling them. People say web wallet are porous but I have been using the blockchain for almost a year now without any incidents. All you have to do is own a wallet you have the private keys or seeds. Wth that, you should be safe.

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January 31, 2018, 06:25:31 PM
 #92

Cryptocurrency, specifically bitcoin being very popular and well known all over the world attracts interest of many hackers because as we all know bitcoin being a digital currency which can be accessed through internet many hackers find their way of stealing accounts from others, and as long as technology develops, hackers also finds ways to easily steal, so I can not really say that cryptocurrency is safe although we have the so called blockchain.
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January 31, 2018, 07:13:59 PM
 #93

Hacking the stock exchange and the ICO cannot be prevented. It will always be. Hackers are monitoring the entire network. It seems to me that over time the exchange will come up with a mechanism to delay the application for withdrawal of funds in order to be able to verify the authenticity of the request for withdrawal of the coins. The withdrawal of Fiat in my exchange occurs within 3 days. I think all this time, you can stop the payment if it were made by hackers. For me this delay will not be a tragedy.
But to prevent hackers from being able to, hackers are now speeding and operating very fast; they are also equipped with a very high digital knowledge, so the attack on a market is a thing. It's easy, nowadays hackers can be anywhere, but we cannot detect him, and the prevention is difficult.
Basically problem is that hackers are just like us. There is no specific method through which we can identify them and no particular attributes that every hacker possess. We need to understand that it is really stupidity to trust someone whom you even don’t know well or someone who is not form your family. Only a silly dude is going to provide all his or her personal information on internet or to anyone whom he came to know via some social app.

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January 31, 2018, 08:01:41 PM
 #94

How safe is it to have an account in any other bank? Nobody knows, and when you're using your on-line account in your bank it can be hacked as well.
Precautions are the same with bitcoin: do not give anyone your personal details.
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January 31, 2018, 08:16:05 PM
 #95

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 ?
I think these type of things will happen in future also.
Because we can't stop these we just need to be very careful and cautious about these incidents.
You can use ledger nano or Trezor.
Everyday cryptocurrency industry needs upgrade for extra security.

Platio
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February 02, 2018, 08:08:32 AM
 #96

I think it would be safer for cryptocurrency from hackers as long as the security are locked from hackers and there are safety precautions. As hackers are everyone, so awareness are very must  to consider in the cryptocurrency.

The reason you are increasing the security of your Digital currency wallet in order to keep them safe and sound from hackers that is so active right now since some of the digital currencies right now are really valuable. Every hacks that is happening these days must be a lesson to people especially to a lot of trusted and mostly used Exchanges in the Internet. For us Users, securing our currencies are easy, there is a lot of ways to make it secure.
You are right about this. There are many ways in which the holder can secure his wallet. Bitcoin is a secure currency. It is designed in a way making it impossible for the hackers to guess the private key which means nobody can get access of anyone's wallet without his willingness.

Individuals are supposed to take some security measures such as multi-signature wallets, two-factor authentication/cold storage and private key encryption.


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February 02, 2018, 08:54:47 AM
 #97

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 are everywhere and even with all our security in our cyberspace and world there would still be so well off our reach. What I can really say is that you would have to really watch your every step to minimize but there would always be that threat that you can’t imagine. However hackers don’t attack just by stealing they do it with a purpose and not just for their own gain I believe

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February 02, 2018, 10:21:19 AM
 #98

Some of cryptocurrency must focus on security, because hacker will try to hack the system again. So better cryptocurrency must improve the security.
We must beware every time, because hacker everytime will attack. I hope in the future the security will improve and more secure.


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February 02, 2018, 10:55:26 AM
 #99

For me I believe that Bitcoin is well aware of this. Hackers. I do believe that Bitcoin is secure and safe.

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February 02, 2018, 11:14:55 AM
 #100

Sad to hear that,
now indeed looks the hackers are increasingly vibrant considering the price of cryptos had a higher tendency. Well.. we should be more vigilant on the selection of wallet address site, including exchanger's site and can really to observe about the security of wallet. And also we should be more vigilant on the ads that will not necessarily be the clarity and the truth.
In the country that already has been legalized.. it was had been hacked, let alone for the countries that hasn't legalized bitcoin yet., maybe it will be more prone to be hacked.
Hacking and phishing attacks are among the biggest security threats to cryptocurrencies, so setting a strong passwords for wallets and all accounts that deal with cryptocurrencies is a must. I know this is not enough kind of setting up our crypto but at least it can lessen the chance of getting hacked.

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