With Hackers everywhere, How safe is Cryptocurrency?

[DarkTaiga]

I think it is a cycle. Hackers beats the security systems then the security systems improve then hackers tries to beat the improved security system and so on. I think the best move here for us consumers is to take care of our access. We should always look out for phising websites and transactions over unsecured connections to eliminate human error in our part.

It seems we are the only victims in the battle between hackers and exchanges  Most of the coin/token that hackers have stolen are from exchanges. Perhaps the simplest method to prevent hackers is never to keep the money in the exchange wallet. In addition, users should learn how to protect their own assets. As I see, many people lose money just because of their own carelessness (click on phishing websites, ...)

[1714987029]

1714987029

[Priaa165]

We know when we talk about money nothing really safe. Any form of money is a very interesting thing for the hackers. One easy way that can be used is to limit each form of money in a certain amount. Do not store eggs in one basket, so if bad things happen then we don't suffer too much.

[Rastafarian]

Crypto can be safe and unsafe. It all boils down to how you manage and critically view all forms of documents before proceeding to fill for money. It is sad to hear most people being hacked for filling email forms where they were asked to provide their private keys. Never be a victim.

[Anyobsss]

Crypto can be safe and unsafe. It all boils down to how you manage and critically view all forms of documents before proceeding to fill for money. It is sad to hear most people being hacked for filling email forms where they were asked to provide their private keys. Never be a victim.

Yes, I agree. Sometimes it is our own fault that leads us to being hacked. We were too careless and gullible which is really wrong if we want to protect something so valuable. We can avoid being hacked if we take an action to counteract  or do some countermeasures like installing adblockers, metamask and etc.

[Chrystora123]

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 ?

With hackers everywhere, anything that involves internet and gadget is risky. If we don't know how to keep our accounts safe and our private keys and private, it would really be risky and unsafe for us abd our hodlings. We must always try to avoid suspicious people and we should keep our private keys secured.

don't underestimate hackers, I've lost 1 wallet because I underestimated hackers and let the security level on my laptop low. I think cryptocurrencies are very safe and impossible to be attacked by hackers, based on what I know cryptography is very difficult to solve.
so, you should worry about the security of your laptop and wallet, not cryptocurrency...

[tylerderden]

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 main thing is that it was the ICO project owners fault that they had their wallets online and had some major security issues on their website so that's why they lost $400 million but if the wallets would have been offline and also the website secured and free of bugs then this wouldn't have been happened.

[Haliburton]

I think it is a cycle. Hackers beats the security systems then the security systems improve then hackers tries to beat the improved security system and so on. I think the best move here for us consumers is to take care of our access. We should always look out for phising websites and transactions over unsecured connections to eliminate human error in our part.

Correct! This is usually the trend on cyber space, where security systems need to become improved over time. Hackers will always find a way how to penetrate a specific system, but developers are always aware of this, releasing proper patches and bug fixes to address such issues. Until today, I think cryptocurrencies are safe enough if you make use of a hardware wallet. But, if the devs of a specific coin are careless and don't make sure that the network is resistant against 51% attacks, then the hacker could easily disrupt the cryptocurrency's blockchain.

Therefore, even if you were to hold your coins safely on a hardware wallet, you would be subject to the risk of a hacker successfully performing a 51% attack on a specific cryptocurrency's network, if the devs don't manage to fix it on time (like what happened with Verge). All in all, sometimes we as humans are the critical error of any system no matter how secure it is.

[AlexKr]

Now hackers can carry a threat not only for the crypto currency. The whole economy is threatened.

[PEDROMAP]

Its safe as anything else, if you are carefull and do your part, like have all the passwords in a safe place, have your computer correctly protected, and finally hope for the best, because there is nothing safe anymore.

[IGP50]

The cryptocurrency market is saturated with numerous hackers in the system. These hackers are keen and vigilant in hacking investors and bounty hunters account. It is a precaution to keep your account details at safer place in order to keep it out of reach of these people.

[sultanGol]

Certainly, there is a higher than average risk factor in this market. That is why, we have to be careful, and diversify, as much as possible.

[Sand King]

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.

[icecream sandwich]

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 bitcoins is not as safe as bank that is for sure but the thing is they are more profitable than anyone else so what are you gonna choose of course in that kind of thing gaining a lot of money in a short period of time always involve a lot of risk. That is how it works the more risky the business is the more money you are gonna make. So it depends on the people what kind of approach they are gonna do.

[Ganbound]

I think it is a cycle. Hackers beats the security systems then the security systems improve then hackers tries to beat the improved security system and so on. I think the best move here for us consumers is to take care of our access. We should always look out for phising websites and transactions over unsecured connections to eliminate human error in our part.

It seems we are the only victims in the battle between hackers and exchanges  Most of the coin/token that hackers have stolen are from exchanges. Perhaps the simplest method to prevent hackers is never to keep the money in the exchange wallet. In addition, users should learn how to protect their own assets. As I see, many people lose money just because of their own carelessness (click on phishing websites, ...)

That is not only a problem in online currency but, there are people who are always trying to snatch and steal the people money from their houses even from banks, so we need to be too much careful not only in online world but also in real world if we are carrying and keeping a big amount of money.

[Bitfling]

I think it is a cycle. Hackers beats the security systems then the security systems improve then hackers tries to beat the improved security system and so on. I think the best move here for us consumers is to take care of our access. We should always look out for phising websites and transactions over unsecured connections to eliminate human error in our part.

I have same opinion with you. We should always carefull with phising link on our email. Most coin wallet are safe if we keep our private key and not share it to anyone. Always double check on website we visit because hackers always looking our mistake

[Haliburton]

The bitcoins is not as safe as bank that is for sure but the thing is they are more profitable than anyone else so what are you gonna choose of course in that kind of thing gaining a lot of money in a short period of time always involve a lot of risk. That is how it works the more risky the business is the more money you are gonna make. So it depends on the people what kind of approach they are gonna do.

That is somewhat true, but banks are also risky since you can lose your funds if something unexpected happens in the long run. I think that cryptocurrencies are much safer if you follow the right rules to secure your funds. There are many ways to protect yourself against hackers, from using hardware wallets to storing your crypto funds in a cold storage wallet with keys that had been generated offline.

If you're tech savvy enough to do it, then I think that there's no hacker that would be capable of getting access to your funds ever. I always use a cold storage wallet that has been generated offline along with the use of a strong passphrase, which has resulted in the good safety of my funds. But, newcomers into crypto land would experience constant hacks or theft probably because of lack of education in the crypto space.

[ziac]

I would consider hacker as a challenge to all opening there own blockchain based project.. Its the teams dutu to make it secured proof frok hacker to avoid fututr loses.. Hackers are everywhere that will test everh vulnerability found in some project.

[tikanurqaidah]

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

[meaamir86]

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.

[feelingfroggy]

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.