hackers becoming smarter than exchanges?

[hatshepsut93]

In my opinion, exchanges should always move in an unpredictable way so as to always confuse these scammers .

What are you talking about? This isn't some convoy of armored trucks that can change its course, it's the Internet. Are you proposing for exchanges to constantly change their codebase? If so, that would introduce 1000 times more bugs.

The scammers are scaring new investors away and this must stop.

Hackers are only scaring ignorant noobs, which might be good, because noobs are bad hodlers, they easily panic. Smart investors don't hold their coins on exchange and don't panic when some crappy exchange gets hacked, just like people don't rush liquidating their fiat whenever a bank gets robbed in their country.

[1715578103]

1715578103

[1715578103]

1715578103

[1715578103]

1715578103

[1715578103]

1715578103

[Kurokyy]

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.

In my own opinion, hackers cannot easily penetrate market but there are people inside the corporation who are actually stealing cryptocurrenyc from investors and they will just report in the media that it was a hacking activity.

[usorin]

I belive that when you work with a lot of money there is always someone ready to steal from you, it is a question of the human nature. I am sure that exchanges make everything to secure the assets, perhaps they will even be ensured, who knows what the future brings..

[bennypagulayan]

yeah. and you know what. you can never be sure if it is a real hack or it is exchange platform itself that announced they were hacked but maybe they are just tricking. centralized exchanges are always very risky for traders.

The cryptocurrency market has been a major target of professional hackers and in the past has documented a number of hacker attacks and theft of Exchange assets. I think there is a need for preventive measures from organizations to reverse this situation in order to create a safe trading environment for the cryptocurrency market.

[jackky]

This is the fault of the exchange. They did not protect their exchange, and whenever hackers attacked, they could not solve the problem quickly, and they let hackers steal lots of Bitcoins and altcoins.

[galambo]

Even recently MEW(MyEtherWallet) was hacked again and the hacker stole some funds this time even. Hackers are really becoming more powerfull and some or the other way should be needed to avoid these hackers along with high security. Storing funds is getting much harder these days due to these hackers.

[kingkonjac]

have you ever thought the possibility that those exchanges hack themselves. Just imagine no one gives any responsibility and there is no tracking from no one, what an easy game as there are not regulations you could say just I am hacked and don`t give a report for lots of millions gone.

[Aveatrex]

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.

Exploits and security holes are constantly found no matter how the systems are upgraded.Even Youtube got hacked;though cryptocurrency related organisations are being focused by hackers more than others.
But in the other hand you are right,some exchanges just don't do enough effort of protecting the funds,this reminds of Bitgrail who was hacked 12 millions of nano coins (that coin got heavily damaged from that hack,investors lost alot of money because of it)

[bombie1]

well this is a dicey topic because many people believe and are of the view that most of the hacking situations are internally motivated.We do not have facts to prove that so now the point is that every trader needs to be careful and do not leave their funds at exchanges even though sometimes it looks cheaper to keep short term trading coins at exchanges.

[Jannatul Shefa]

Hackers always try to hack exchanges. They are always busy to find a new and smart way to hack any exchanges. But exchanges should be aware of this. They should secure their exchanges more.

[SinisterS]

That's not a good statement. Exchanges are not godlike, able to be aware of every possible exploit there could possibly. No computer company it, whether is Apple, who recently had a USB lock immediately exploited in days, and anything computer related.

[charlzyeby]

I think exchanges are being lazy rather. Every tech is prone to hacks so it should be a top priority to always be a step further. More competent computer scientists and excellent programmers should be hired, and cyber security should be topmost most priority. Some exchanges only care about liquidity and volume but security should rather be topmost priority.

[pekingcoepo]

If things like this continue then investors will not be interested anymore to make trades because we will also be afraid to store the assets we have on the market especially if something unexpected happens such as hacking done on bancor lately will lose the assets in it, I just hope the big market should start to rise by adding security to the web they use so we all feel comfortable to trade.

[Indrawan77]

Hackers should be the exchanges priority, a lot of people already not believe in exchanges, this could make the new exchanges difficult to be accepted and this also could make the investors run away, I personally see some exchanges not serious to tackle this problem, but this is a serious problem, most if the transaction volume is coming from trading, so if the investors and traders stop their activities, this could lead to disaster for crypto

[Roukawa]

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.

Hacking of exchange becomes prominent issue nowadays. I thought that they have greatest security but still some of the exchange are intercepted by hackers. In my opinion, it may become a conspiracy in the core of the team. Because a hacker cannot enter a secured place without the help a person in the core system. Probably, this case always happen because there are some people that are greed in money.

[harizen]

"All the hackers in the world are targeting cryptocurrencies." -Eric Larcheveque, CEO Ledger Wallet Company

It's not that hackers are smarter than exchanges, it's just that they are focused too much to find the weak spot of every exchanges security. No such thing as other priority but focus on single goal of hacking a certain exchange. They spend time on it, they dedicated their time on it, they do brainstorming on it etc. Just imagine the group of all-star hackers once they shared their knowledge to each other.....success!

Exchanges security is not a joke. It's difficult to breached and can't bypassed easily. But again once hackers focused on destroying it, chances that they can get through is possible.

[jarojak]

As long as I know, bad guys always one step ahead.  That is what they do and they will be gone before people realize.

[nicster551]

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.

We can say that those people that are hacking some of our exchanges are learning everyday since that is their profession. But we should also try to improve our systems in order to protect ourselves from those hackers.

[meanwords]

I think the probably is that they are not paying much attention to the users and that money is their first priority. Most of the hacks are coming from those large exchanges. Even small exchanges are more secured than this big exchanges. Also, I think those hacks is an inside job and that to prevent any further news, they are hiding it by saying it's the securities fault. The hackers are getting smarter each day, I wish the exchanges too.

[Metamorps]

I can't understand why such big exchange can be easily hacked, whereas the rotation of funds there happens so fast. is their security so weak? even sometimes I think that this hacking issue is just nonsense and trickery. like a a fake hacking cases