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Author Topic: hackers becoming smarter than exchanges?  (Read 4340 times)
Jating
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August 22, 2019, 11:40:32 AM
 #561

Sometimes it is not always possible to see in advance all the vulnerabilities in your system. You offer exchanges to act more unpredictably, but with every new update of this type there is a risk that a new vulnerability will appear in the security system. At the same time, it’s much easier to get rid of vulnerabilities that are revealed after a hacker attack.
No exchange could guarantee that they are a hack proof site, vulnerability is always their and smart hackers can find it.
That is why it's necessary for them to focus on the security of the exchange as once it's breach, their reputation will be affected and that could be the reason for them to loss their business. Binance was just lucky to have a SAFU funds, but if they'll not improve, next hack might be bigger that could possibly result to a close shop.
This is business that involves a lot of money, cash flowing in and out just like in a traditional based casino. The only difference is that when you are inside the casino floor, there's no way that some criminal can steal money from you. On the other hand, when you play inside a trading platform, theres a lot of ways that you can loss your money.

Service providers need to give us protection when we are inside their platform, simply as that. Hire competent people (inside job), or at train them to the latest technology and cyber security prevention. Although there is SAFU, but that should be only plan B. Plan A should be the protection of their customer.

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August 23, 2019, 08:36:03 AM
 #562

This is a classical game of mouse and cat.
The cybersecurity problems are not just limited to crypto exchanges. A lot of institutions are hacked , also very high class government institutions. It is not that exchanges are not thinking of their security but the hackers constantly find new ways to exploit some holes in their security.

That is true. That's why, consistent development on their security systems is a must. We now know that hackers also grow smarter as time goes by but that should be taken as a challenge to also evolve and grow smarter than they are and create a stronger and more improved security. This is a wake up call, not just to those huge companies with looming amount of money stored, but also to us simple individuals to be very cautious with everything and everyone so that our security will not be compromised.

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August 23, 2019, 08:38:15 AM
 #563

I also think so...and it is becoming more regular than before as even i have got mails from exchnages that successfull login from different locations around the world...so it means some one else accessed my account...
But i never had any amount in exchanges so i never worried that much about that

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August 24, 2019, 06:06:32 AM
 #564

I should think about it, is Exchange are becoming smarter right now. why? exchange is our way to trade our funds with crypto and exchange does not do a lot of improvements to prevent hack system and instead they will just let the news spread all over site that their lost its own security. I might think that why exchanges let that happen...? that's why now its too difficult to trust even you use top list exchange.


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August 28, 2019, 03:41:05 AM
 #565

Basically it might have three reasons.
First One
The technology they are using is not enough strong for security. Furthermore There will always have some bags, which works as Main gate for hackers. So it can be said that hackers Are becoming more smarter then Exchanges. That's why exchanges should have to update their technology daily so that to prevent hackers from hacking
Second One
The second and the most important reason that I think is,, They Stole money from there own exchanges and they're pretending as like exchanges are hacked. Because There is no strong evidence that exchanges were hacked by hackers
Third One
Maybe their officials are involved with those hacking incidents.
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September 01, 2019, 01:47:39 PM
 #566

The confrontation between hackers and exchanges will always exist, because exchanges have money and hackers prey on everything where they can make a profit. But it can hardly be said that hackers are smarter than exchanges, because some exchanges hire hackers who help test the security system of the exchange in order to help the team identify vulnerabilities and eliminate the possibility of hacking.

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September 01, 2019, 01:59:37 PM
 #567

There are more and more legacy (and not so legacy) code and more and more money. Important reasons to make exchanges good target
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September 01, 2019, 06:23:05 PM
 #568

If there is no hackers we could've never reached such a level of growth in the information technology industry. They are the key who serve as the key factor for development of more new features and several updates. As a lot of money flow happens with cryptocurrency exchanges, now they keep their focus over cryptocurrencies. This too good for development of exchanges with good security features that will not allow someone to breach into our accounts.

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September 01, 2019, 07:44:51 PM
 #569

It's hard to say who is smarter and more professional, but that there is a constant confrontation between the exchange team and hackers. We do not see this confrontation and only sometimes find out if some hacker managed to steal the funds of the exchange. Technologies are developing, everything is improving, so this is a completely normal situation, but I would not say that hackers are smarter.

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September 02, 2019, 01:13:09 AM
 #570

Hackers are not becoming smarter than the exchanges. Exchange sites are always under attacks yet these exchanges prove to be extra mile ahead of the attackers. This is not flatter the exchanges but to commend and encourage them to keep the hard work in protecting the funds of investors, traders and holders.

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