hackers becoming smarter than exchanges?

[bettercrypto]

Most of these "hacks" are inside jobs.  They come up with excuses so they can easily run away with users' money.  I've seen it time after time and it looks like this will never stop as long as there are greedy people in this world.

This are the staffs of the exchange that fired. Maybe, they are the technical manager or who officiates the technical part. Exchange never easily intercepted without an inside job. It has many computer programmers that stabilize the system. But because of these "inside job" thing, hackers can attack easily the exchanges.

[googol.star]

It's not that simple. Hackers will always have the upper hand because in technology you cannot protect all the vulnerabilities that you are not even aware of. It's just the nature of technology.

And even just constantly changing the technology is no good, because then you open yourself up for more unseen exploits.

[mamesso]

Most of these "hacks" are inside jobs.  They come up with excuses so they can easily run away with users' money.  I've seen it time after time and it looks like this will never stop as long as there are greedy people in this world.

This are the staffs of the exchange that fired. Maybe, they are the technical manager or who officiates the technical part. Exchange never easily intercepted without an inside job. It has many computer programmers that stabilize the system. But because of these "inside job" thing, hackers can attack easily the exchanges.

Sounds funny, I've never heard of a case like this. Sounds like watching a drama movie on TV. But this might happen.
Hackers always learn anything and try to do anything to get a security hole.

[BennyK]

Just as every business man adopts new strategies on how things work in order to maximize profit, hackers in crypto are also always on the move to come up with new strategies and codes to break the walls of protection of crypto users' wallets. This is why wallet creators and exchange site developers must always renew and strengthen their security in order to counter-attack any incoming attacks from hacker.

[congresowoman]

Maybe they are also conspiring with hackers. But this is just a wild thought. If hackers can break through the system, then it is about time that exchanges strengthen their security. Maybe upgrade personnel to further back up and also analyse lapses on the system.

[Nhebu]

This is not new, hackers are also opportunist. They are much like a magnet attracted to metal (money). However, companies and end-users aren't doing what they need to defend themselves. Do you think there's a conspiracy about this? As the old cliche goes by, an enemy will get close information to his enemy and they use it as an asset.

[waynechong1995]

Some might be insider job where certain employer expose the loophole to hackers, or simply the hackers were too good at preying these exchanges. The potential reward was too great on efforts being used. Hacking wouldn't stop and it's the only way for exchange to truly consider and defend their systems. Hackers are mostly organized set of attackers and being successful as one isn't that bad either. One of the recent hacks where the hacker got access to a fat BTC wallet, and cleared the CAD/BTC orderbook, yet prior he placed several members buying at oddly low price and was able get away by buying time from the exchanges to identify the malicious members

[geegaw]

Maybe they are also conspiring with hackers. But this is just a wild thought. If hackers can break through the system, then it is about time that exchanges strengthen their security. Maybe upgrade personnel to further back up and also analyse lapses on the system.

Cooperating with hackers is really one thing people are always skeptical about exchanges when exchanges report unexpected attacks on their systems, but we may not be able to determine the truthfulness of this issue, it is too secret and few people can understand it. But hackers are becoming smarter, that's something we can't deny when technology sector is too developed and easy to penetrate, the exchanges are better, they still can't resist too many smart people but the intelligence of hackers will help the exchanges get better, we will feel safer when our money is in the exchanges.

[bitzizzix]

Above the sky there is still sky and if it is not smart, it is not a hacker, it has become a law of nature with hackers with the aim of destroying the system only for their own interests without thinking of other people who have been harmed.
what they want is their own satisfaction because they feel great and the crypto currency exchange system can make it rich which makes hackers hack it.

[Alijiindahaus]

I think that each of us should understand why all this is happening.  The fact is that hackers are not only aiming to steal money from users.  It seems to me that in this way they show the vulnerability of the system with which cryptocurrency users deal with and give away their assets, thinking that they will be safe.  I do not condone hackers, but we must resist such a tendency hacked and make everything inaccessible to thieves.

[MidnightWolf]

Even the top-rated trading market, Binance, was also hit by hackers.  There is a very serious vulnerability for all users of cryptocurrency, because we do not control the protection of our funds.  If my cryptocurrency is on wallets, then there I am responsible for my property.  And if my cryptocurrency is on the profile of a certain stock exchange, then the stock exchange is liable here.  Perhaps there is a definite connection between the administration of trading exchanges and hackers.

[eaLiTy]

Exchanges have their systems and they need good securities since they will be holding a lot of money and cryptocurrencies but these hackers are so smart that they can bypass these securities despite the fact that they are just so close to being impregnable. That is the reason some companies hire hackers to develop their securities, hackers can counter hackers and there are kind of hackers.

The crypto exchanges and their security are not up to the mark when you compare the the rest of the financial exchanges, rarely do you hear a hack in the stock exchange, the reason is that they take the security seriously and make sure no one can compromise it and there are other securities and bonds involved if your money is lost through the hack if it is not your fault, but in this space every year you will hear multiple exchanges being hacked and so on and there is no way you can trust any exchanges with your coins.

[whirlcoin]

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.

whenever they are doing something to hack anything the technology is also developed so that the people mind set is more on go with the safe and security for their first priority so that it will be not so easy for them to hack anything.

[Akoldi_ibk]

Hackers are not being smart, they are just pure definition of what wickedness is. I understand these guys are good and can be excellent in hacking, but doing so and cutting away with people's funds is no more act of smartness from my perspective. Instead it is pure fraud and scam. They explore the system vulnerability with the sole purpose of theft and fraud rendering the system imperfect in the process. I think exchanges need to upgrade their system on daily basis and be yards ahead of the hackers.

[googol.star]

This is not new, hackers are also opportunist. They are much like a magnet attracted to metal (money). However, companies and end-users aren't doing what they need to defend themselves. Do you think there's a conspiracy about this? As the old cliche goes by, an enemy will get close information to his enemy and they use it as an asset.

The best thing to do is to stay clear from the enemy. In this case by keeping your money out of the exchanges and in a secure computer.

[Tigerw]

if someone keeps their money on the stock exchange, then this is a stupid person.  Of course, traders always have open orders, but they almost always provide control over their funds.

[adzino]

Hackers are always one step ahead of us. Why don't you outsmart them? Just don't store your coins unnecessarily in an exchange wallet. If you have to trade or exchange your coins, then make a quick exchange and just remove those coins from there. No matter how much they say that they are very secure, they are always vulnerable to hacks. Also, try to secure your account by using extra layer of security such as 2FA.

[hahay]

Hackers have many ways to carry out the action, so even though an exchange claims they are safe but still hackers have many ways to create systems that can damage security. so far there have been several hacked exchanges and I'm sure this incident has made exchange developers continue to study them to have a better way of security systems that they keep updating so that the steps will at least make hackers more complicated to break the security system on an exchange.

[Krislaw]

if someone keeps their money on the stock exchange, then this is a stupid person.  Of course, traders always have open orders, but they almost always provide control over their funds.

For that reason, if someone keep crypto on exchange for fast selling when high price, thi is a short time to getting profit like a daily trader. if for long term she/he will keep it on own wallet.

[xSkylarx]

if someone keeps their money on the stock exchange, then this is a stupid person.  Of course, traders always have open orders, but they almost always provide control over their funds.

It's ok if he is trading daily. What a stupid person is someone that doesn't secure his account well. If you know that you have a huge amount of money on that platform, obviously you will do all possible countermeasures to secure your account. Enabling all its security authentication to prevent hackers from hacking your account easily.