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Author Topic: With Hackers everywhere, How safe is Cryptocurrency?  (Read 2880 times)
wantjokull
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January 29, 2018, 07:03:09 PM
 #21

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 ?

That’s look like mistake of ICO to me. How could they be so unreasonable I would say. The only source for the security breach is via their website or the token address of wallet where they are storing their tokens. How on the earth they end up leaking that kind of information.

Quote
They promised to pay back investors who invested in their ICO

That’s going to be hard punch on them. Lolz. Next time they won’t leave it open.

Quote
How safe is Bitcoin and Other altcoins?

They are completely safe for the time being, but it’s upto you how you handle them. Any misleading step, and you loose it.

Quote
What measures should we take to avoid being hacked ?

The #2 post looks enough to me.

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BITDEPOSITARY - Make ICO's , More Secure


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January 29, 2018, 07:22:31 PM
 #22

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 ?
When we do talk directly into coins to be hacked then its not possible but stealing them from a wallet then its possible that hackers can really bypass when they do saw a hole towards it or any exploits which will able for them to get coins and we do know cryptos can give shit out tons of money once you get the right spot. This is why if we should really took importance on securing wallets where funds being stored up.Any important informations regarding on the wallet should really be kept no matter what.


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January 29, 2018, 09:58:23 PM
 #23

have hard wallet
dont store at the exchages
have separate pc for crypto on linux
pretty much that
SaShiRaJaVu
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January 29, 2018, 10:05:11 PM
 #24

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 ?
The token you are talking here is XEM,sure they lost millions of dollars worth of coins,but the core problem lies with the practices of the exchange and you cannot complain about the wallet that XEM is providing,they have not taken enough security measures to safe guard the coins,if it was the issue with the wallet then the team behind the project would have gone for a hard fork,but that did not happen ,you coins are safe as long as you are holding it in your own wallets where you own the private key.


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January 29, 2018, 10:15:00 PM
Merited by Siopao (2), andreibi (1), LordDisick (1)
 #25

Since bitcoin uses digital technology it is very easy for developers to create a tool to hacked certain accounts online or get into the system of a specific project the truth is as much as we make all those counter measure such as making a very difficult private keys this can still be access online so as to me my way of protecting my bitcoin is by converting them right away instead of keeping in online wallets I'd rather keep them on my nank account rather than taking risk of losing them from hackers

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January 29, 2018, 10:48:45 PM
 #26

I am personally facing this problem. Hackers are now available beside us. We should alert all time. If you want to safe out account secure, we should be aware of hackers. We need more awareness and keep privacy on all over the internet world.

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January 29, 2018, 10:55:09 PM
 #27

A lot of people wants to own cryptocurrency now and some of them wants it in an easiest way. Hackers are everywhere, you have to fully protect your holdings because for me cryptocurrency are safe base on its technology but some people is not, they will make ways to scam other, so be careful.

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January 29, 2018, 10:58:57 PM
 #28

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 heard the news, One of the biggest exchange company in Japan was hacked and 520 million USD was stolen,
this shows that crypto has more weaknesses and still need to upgrade the security measures. They said that hackers are the new robbers! But with this, we will expect a vast improvement on the site especially security measures.


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Siopao
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January 29, 2018, 11:02:29 PM
 #29

Security is the top concern of everyone when it comes to storing coins. As a precautionary measure, i don't use public internet when accessing my wallet. You can also opt to use a cold wallet and keep it on your desktop. It is not connected in the internet and hackers won't get into it.
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January 29, 2018, 11:17:14 PM
 #30


3. Never ever go to link of your wallet from different websites, chats etc. Always bookmark your wallet website link.


There's a lot of victims of phishing sites, and this does not only apply to crypto-users. These phishing sites look really legit or similar to sites for wallets or etc and these phishing sites have the intention of fooling you or gathering information about you. Those who fall victim of these mostly do not know how phishing sites operate or the existence of these. These are just one of the many scams or ways for you to lose your crypto.

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January 29, 2018, 11:18:44 PM
 #31

Its no longer news that an ICO in Japan has lost over $400 million to hackers.

Which ICO? Does it have a name?

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 ?

Or they might be pulling out a scam in the name of hack, maybe?



this shows that crypto has more weaknesses and still need to upgrade the security measures.

Wrong.
Its the lack of responsibility within the holders of assets that fuels such hacks in the first place.

They said that hackers are the new robbers! But with this, we will expect a vast improvement on the site especially security measures.

Either that or they might wanna try and pull a new scam. *ahem* Tether hack *ahem* Roll Eyes



Security is the top concern of everyone when it comes to storing coins. As a precautionary measure, i don't use public internet when accessing my wallet. You can also opt to use hardware wallet and backup your private keys

Did you even read the OP?

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January 29, 2018, 11:23:01 PM
 #32

Well, thieves are everywhere, but if you don't close the door of your house, you can blame only yourself.
I don't know exactly what happend in japan, but it seems that someone lost his private key.
Well, in this is true, hackers don't need to be very high skilled...

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January 29, 2018, 11:47:22 PM
 #33

Only the lazy did not hear about the theft of 532 million dollars in the crypt currency NEM (XEM) from the hot wallets of the Japanese exchange Coincheck. However, this hacker attack did not have the same effect on the market as the well-known story with Mt.Gox.
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January 29, 2018, 11:55:42 PM
 #34

It is nearly impossible to hack the Bitcoin network and steal Bitcoins. You will need to find the private key for a particular public address. The easiest way to hack bitcoin if its already in the exchange, where al your fund is not in your full control. For example, if hackers attack a website, they might possibly get information to get access with the fund stored. The blockchain is so complex that a hacker cant do the computing power for them to be able to get hacking.

Your account depends really on your own hand, do not let anyone got your private key. You should be more careful on giving personal information specially in the internet websites this might risk your acvount.
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January 30, 2018, 12:52:08 AM
 #35

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 ?

This is not only about bitcoin or crypto. You must have heard the term fool and money are parted sooner.
If you are trusting someone you know for a week and giving him your most of your details then he can work around it and gather more info about it and might use it for wrong purposes.
Best measure would be to use the different password I would say +20 characters with special symbol, numeric, alpha keys for different websites and keep that file encrypted on your computer.

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tweetbit
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January 30, 2018, 12:57:16 AM
 #36

How safe is your life when they’re are tons of criminals in this world. Same with cryptocurrency we can’t insure a total protection from this elements they’re a cancer in our society but we have to try to invest even with this kind of risk. No guts, No glory as they say. So take an option it’s either to ignore the opportunity to profit or to runaway and hide because of fear that this would be hacked.

HODL
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January 30, 2018, 01:03:02 AM
 #37

No one is really safe. Hackers are just a keyboard away to hack and rob all your investment. You just have to play safe and put an extra careful in all of your transaction especially if your in doubt, do not attempt to proceed to transact. There's a lot of way and legit way to transact bitcoin.
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January 30, 2018, 01:27:10 AM
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 #38

For me all things that we have is not safe hackers will snatch all our things. Also our personal stuffs can be steal by bad persons because they need to have money to feed their family thats why they doing crimes. If we also give our private keys to others they can steal all our tokens.
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January 30, 2018, 01:30:27 AM
 #39

Hackers are indeed everywhere, but the crypto is also evolving every day and becomes more safe as we speek
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January 30, 2018, 01:32:28 AM
 #40

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 that is the biggest risk in this gamble that we are doing in the cryotoworld. Sure there are gains that is unimaginable, but with that comes the threats particularly risk of being hacked. Just recently, there had been security threats in my ether wallet sites that have put accounts and transactions at risk of being hacked. Also there had been reports like what happened in Japan which (according to a credible news source) almost lost half a billion dollars in investments.
In plain view, we, being the end users, should also contribute for the betterment of secutity by not gving away passwords of better have an offline wallet for your coins. Never share passwords and enhance passwords. That, in my opinion can help reduce this kinds of incidences. And also I think devs should formulate an enhanced security measures for the sites and undergo maintenance for that purpose.

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