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Author Topic: hackers becoming smarter than exchanges?  (Read 2919 times)
Getmon
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September 10, 2018, 04:40:37 AM
 #301

It is always a battle of brilliance and skills. For sure, there are so many individuals out there who are more capable than any individual hired by some exchanges. The good thing with exchanges is that they have enough resources to hire a pool of brilliant developers to counter any individual move from the outside to try hack their system. Two heads is always better than one. If the exchange is penetrated with individual attacks from without, it would definitely be blamed to the management.


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September 10, 2018, 05:13:48 AM
 #302

It is always a battle of brilliance and skills. For sure, there are so many individuals out there who are more capable than any individual hired by some exchanges. The good thing with exchanges is that they have enough resources to hire a pool of brilliant developers to counter any individual move from the outside to try hack their system. Two heads is always better than one. If the exchange is penetrated with individual attacks from without, it would definitely be blamed to the management.
Well, but so far, hackers have always been the cause, and the reason for exchangers losing their coins. yeah, that's very natural. sometimes we don't know the greatness of a hacker, and sometimes they pass our estimates.

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CryptoCompas
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September 10, 2018, 03:42:04 PM
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 #303

There is an opinion that these hacks are the exchanges themselves, not just hackers. The information is hidden. As an example, the bithumb hack occurred in February 2017, and reported it only in June.  Hacks were made repeatedly, but the exchange did not provide additional protection of the wallets of its users.

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September 10, 2018, 04:38:27 PM
 #304

Well most of us here are already aware of the hacking activities of binance and bancor.They are taking practical measures to track down the culprits but the question on my mind is why could coincidentally both exchanges be hacked?Now it appears that the exchanges are not moving at a faster and innovative ways to upgrading their systems and allow these hackers time to study their systems well,identify the loop holes and cause the problem.In my opinion, exchanges should always move in an unpredictable way so as to always confuse these scammers .The scammers are scaring new investors away and this must stop.Exchanges must be up and doing so that we can attract new investors into cryptocurrency else our efforts are going in vain to attracting new investors.

I don't want to jump into conclusions but what if the hacker is also the exchange?lets be realistic sometimes because we know how secured and un hackable the exchangers has been designed so i find no suitable reason why many of them are involving into hacking without good explanation

Thats why i am not confident about leaving my funds overnight in single exchange i make sure that after doing some transaction ,i take out my coins/tokens and bring back to my designated wallets for safety’s
There was a time in which there were many hacks to exchanges, there were so many that we had a hack almost every week and then some of those exchanges disappeared, to people that was a sign there was not a hack and in fact that was an exit scam and they were just trying to cover their tracks, but now after a hack the exchanges do not disappear and sometimes they try to repay their customers, in that case I think we can say the exchange was clearly hacked.
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September 11, 2018, 07:43:41 AM
 #305

I do not think they have become smarter. I think now is the era of technology and there are many tools that can crack the tight layers of security. This has helped many hackers and security need a very optimal way to prevent hackers intrusion.
Well this is a fact that the security of coding and decoding is not a hard nut to break and this is a reality that with the passage of time, the hackers are becoming smarter and can easily spot bugs in the security system of many top companies online and offline. That is the reason people hire hackers to improve their company’s security.

In case of cryptocurrency, the blockchain technology has really proved a hard nut to crack and it is not so easy for them to get access to your wallets and all they want.
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September 11, 2018, 08:11:31 AM
 #306

They sometimes use this little point and check whether our data can be compromised or not and results are mostly in their favor. Experts have devised some best practices that must be followed for a classical safety. Otherwise we would be complaining like everyone else.
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September 11, 2018, 08:44:10 AM
 #307

I think it is a cycle of sorts that makes both parties stronger and better in the long run. If both didn't try to crack the technology of the other then they would stop developing something new or better to make things more secure. I believe this has to come to be. What we could do is to eliminate human error and be responsible account holders.

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September 11, 2018, 04:26:36 PM
 #308

A lot of hacks because, there are only 2 out of 260 degrees of protection key options. According to statistics, the wallets with bitcoins hacked much less frequently.
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September 11, 2018, 04:57:43 PM
 #309

I am sure that now someone is sitting and working on in order to protect investors from fraud.Let's be patient and soon we will see the crypto world without scams
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September 11, 2018, 05:19:44 PM
 #310

There is no regulation in place to check these exchanges. So many of them are not worth being called an exchange at all because they are too lackadaisical and not innovative. Until these exchanges sit up, innocent people will continue to suffer these day to day hacks.

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September 11, 2018, 05:32:56 PM
 #311

This is the war of knowledge, those skilled people behind an exchanges are defends their exchanges and those hackers are try to attack. The smarter people will be win. I think most of the defenders are smarter than the attackers.
Absolutely correct that defenders is the most smarter than attackers. That's why I believe that hackers will fail to steal others peoples money from an good exchange.

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September 11, 2018, 06:16:53 PM
 #312

Well most of us here are already aware of the hacking activities of binance and bancor.They are taking practical measures to track down the culprits but the question on my mind is why could coincidentally both exchanges be hacked?Now it appears that the exchanges are not moving at a faster and innovative ways to upgrading their systems and allow these hackers time to study their systems well,identify the loop holes and cause the problem.In my opinion, exchanges should always move in an unpredictable way so as to always confuse these scammers .The scammers are scaring new investors away and this must stop.Exchanges must be up and doing so that we can attract new investors into cryptocurrency else our efforts are going in vain to attracting new investors.

Scammers will do anything to find any vulnerabilities that could lead them into stealing something from someone like any exchange any vulberability small or big will be a window for scammers and hackers to steal.

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September 12, 2018, 11:13:41 AM
 #313

I do not think they have become smarter. I think now is the era of technology and there are many tools that can crack the tight layers of security. This has helped many hackers and security need a very optimal way to prevent hackers intrusion.
Well this is a fact that the security of coding and decoding is not a hard nut to break and this is a reality that with the passage of time, the hackers are becoming smarter and can easily spot bugs in the security system of many top companies online and offline. That is the reason people hire hackers to improve their company’s security.

In case of cryptocurrency, the blockchain technology has really proved a hard nut to crack and it is not so easy for them to get access to your wallets and all they want.
Yeah you are right, exchanges are trying to strengthen their security and hackers want to reach their system. Both want to defeat each other, but as a user I want the exchanges to win in this battle. It is good for all the investors of cryptocurrency. Everyone wants to stop hacking as soon as possible. It is not easy but the exchanges and blockchain technology are trying their best to create obstacles in their ways.
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September 12, 2018, 05:32:25 PM
 #314

This is the war of knowledge, those skilled people behind an exchanges are defends their exchanges and those hackers are try to attack. The smarter people will be win. I think most of the defenders are smarter than the attackers.
Absolutely correct that defenders is the most smarter than attackers. That's why I believe that hackers will fail to steal others peoples money from an good exchange.

Well we  can'y expect all smart people to simply play by the rules if they have the wits to outthink it. There will always be people like this and the longer people are exposed to crypto, the smarter these hackers will get

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September 12, 2018, 05:52:52 PM
 #315

Well most of us here are already aware of the hacking activities of binance and bancor.They are taking practical measures to track down the culprits but the question on my mind is why could coincidentally both exchanges be hacked?

Suppose that hackers need certain technological capacity to be used for hacking a resource. So why can't they use those virus-infected computers simultaneously for several attacks?
Another reason might be that both these exchanges had similar vulnerabilities that simplified the breakdown of their protective system.
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September 12, 2018, 07:17:17 PM
 #316

The hackers seems to have developed more sophisticated means of carrying out their heinous acts. They kept on trying to break the security protection of the registered accounts. Just be careful with your account that's all.


I think black hat hackers are really smart, which is why white hat hackers must know how black people think. It is their duty to protect exchanges because hacking will make exchanges less credible and will affect the entire crypto market. Just like what you say, investors start to fear now.
One reason why the market is currently downtrend. Exchange security is so low that they cannot protect it from hackers and intruders. The technology they use for security is not guaranteed and is strong enough to withstand hacking.
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September 12, 2018, 07:30:08 PM
 #317

Well most of us here are already aware of the hacking activities of binance and bancor.They are taking practical measures to track down the culprits but the question on my mind is why could coincidentally both exchanges be hacked?Now it appears that the exchanges are not moving at a faster and innovative ways to upgrading their systems and allow these hackers time to study their systems well,identify the loop holes and cause the problem.In my opinion, exchanges should always move in an unpredictable way so as to always confuse these scammers .The scammers are scaring new investors away and this must stop.Exchanges must be up and doing so that we can attract new investors into cryptocurrency else our efforts are going in vain to attracting new investors.

Yes i do agree on that, there are a lot of hackers today who are manipulating the prices in the market and that is the reason why some of the people are loosing their edge on cryptocurrency.

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September 12, 2018, 09:43:45 PM
 #318

Blackhat hackers are becoming smarter, they can easily break through the layers of security that programmers write to protect their bitcoin, but with their intelligence to attack the back door to serve. for theft, profit for yourself.
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September 12, 2018, 11:15:42 PM
 #319

I think hackers are getting smarter as they keep looking for loopholes. And now it's hacking in several exchangers. I think this is bad news and will cause the holder to be worried. I think we must keep securing what we have in our wallets. And always be careful of any exchange.

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September 13, 2018, 02:25:54 AM
 #320

Well most of us here are already aware of the hacking activities of binance and bancor.They are taking practical measures to track down the culprits but the question on my mind is why could coincidentally both exchanges be hacked?Now it appears that the exchanges are not moving at a faster and innovative ways to upgrading their systems and allow these hackers time to study their systems well,identify the loop holes and cause the problem.In my opinion, exchanges should always move in an unpredictable way so as to always confuse these scammers .The scammers are scaring new investors away and this must stop.Exchanges must be up and doing so that we can attract new investors into cryptocurrency else our efforts are going in vain to attracting new investors.

well. since we are digitally based, there are no safer place for our coins, that is the risk we have to take, from the time we have jumped in to cryptos, just look for the safest exchanges that has a good feedback from users, i know there are few safer exchanges out there, but since binance has been hacked i am sure they will be well guarded after what had happen, so theoretically, binance will be safer. they say lightning dont strike at the same place twice. 

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