hackers becoming smarter than exchanges?

[AjithBtc]

Hackers were getting more smarter exploring ways to enter the world of cryptocurrency. At the same the exchanges as well wallet service renders too have involved in the process of making them more stronger to stay away from hackers. In the past hackers could have entered with ease, and now scenario is different.

[arin_muah]

Security is core in cryptocurrency exchange platform, I always recommend exchange platform to employ hackers in there team before embacking on the establishment of there website, test run and re test run, before launching out, If you security is intact and highly rated, you tends to enjoy more folllowers and user of the site compare to an exchange with low security.

security testing is need before exchange launched.and this testing always involve this hackers.but there are two type of hackers.and one of them is blackhat that always steal or crack network system.

[w33man]

I totally agree, however, it can be that most of these hacks are inside job. A lot of exchange sites are hacked this year which caused the market to drop. That is why most people are avoiding using major exchanges since some are scared that it might be targeted next.

[The_Dark_Knight]

Hackers do not become smarter than exchanges. I think that most of the hacking is either fake or internal hacking. Perhaps the "whales" themselves and organize these hacking. From the news about the hacking, they can speculate and earn.

The whales have nothing to do with the hacks, in fact the whales are afraid of the hackers since one day you are a bitcoin whale and the next day you get hacked and you are a small fish, this is one of the reasons of why exchanges keep most of their coins in cold storage so no hacker can steal from them, but they still need to keep some coins online so their clients can cash out instantly and those are the coins hackers can steal.

[Marlo0619]

Yes that is very true. We all know that technology nowadays is very popular to the whole world. Then internet is very vulnerable to all people because all people can use the internet and you can do everything there. The only problem is that you will choose whether good or bad you are going to do. But there are people who chose bad things. Like the hackers. Hackers are very wise when it comes to hacking the systems of a certain website or evwn banks. We just need to be wiser than them.

[mornabo]

I think this is due to the fact that not all exchanges are properly concerned about their security. You can force people to two-step authorization, then everything will be calmer.

there are some exchanges that force using 2fa for their users and I think it will be much better because someone's account will be
safer, I think other exchanges must follow that, besides that the internal exchange system itself must be stronger so that hackers cannot enter in it

[RockHenki]

 Yes, they are much smarter than we think. The trading platforms have increased the security level very high but they can still penetrate all the way. Perhaps security systems have not had a big impact.
We should transfer all of our wallets or transfer them to the cold wallet. It will help you preserve your property better.

[pat4cryptoreal]

All of us that are not programmers and developers working in those exchangers that were hacked will blame them for allowing hackers to hack those exchangers. I know there is exchanger that will not do everything possible to prevent such occurrence. I just want to advice the exchangers to work harder on security.

[GangNamSK]

Hackers were getting more smarter exploring ways to enter the world of cryptocurrency. At the same the exchanges as well wallet service renders too have involved in the process of making them more stronger to stay away from hackers. In the past hackers could have entered with ease, and now scenario is different.

Exactly. I think so.
These types of hackers are increasingly smarter to explore ways to enter the electronic money world.
At the same trading floors as well as seo services are also involved in the process of making them stronger to stay away from hackers.
In the past the hackers may have entered easily, and now the script is different.
So invest wisely and know how to protect your assets.

[peter_coin]

Hackers have existed long before exchanges and cryptocurrency became mainstream and popular. So there would always be hackers. Cryptocurrency exchanges are fully aware of this and continuously make it possible for their exchanges to be secure and impenetrable. Some nonchalant exchanges that do not take security seriously would be harmed by them, but majority of the exchanges out there are very secure.

[crpytpublica]

Everything happens because hackers develop 24 hours a day, 7 days a week and I think at the moment the protection is bad and therefore break.

[pinoyden]

yes they are. exchanges are only built by people therfor people can also be the way to destroy it but that can take much time because almost all exchanges are built with high standard security as they are carry a lot of money around the world.

there is only a small chance that hackers can bypass the security of an online exchange . so i guess it is still safe to put your cash thru it and do trades all the time.

[RobotNIK]

In my opinion, each new protection only requires no standard hacking.  Any protection can be bypassed, only skills are needed!

[dams87]

I think hackers are smart people who wasted their cleverness, cheated and harmed others for the satisfaction of themselves without thinking of the impact that will be generated. every security there must be a gap that can be utilized by them, we can only hope that we do not become their victims.

[just_Alice]

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.

Cyber attacks do take place, but they aren't that frequent. Just think how many people there are who work for Binance and how many are there hackers out there willing to steal some good money. Also some money losses are users' fault because they don't do some precautionary actions - like don't use the private key to access the wallet, or create mnemonic phrases, even though it is highly recommended. Not to mention that some people are too lazy to even double check the address line to see if it's safe (like it has happened with MEW recently).

[el kaka22]

it can be that most of these hacks are inside job. A lot of exchange sites are hacked this year which caused the market to drop. That is why most people are avoiding using major exchanges since some are scared that it might be targeted next.

Still, it is not about hackers becoming smarter. It is about bitcoin price going really high compared to once what it used to be and in return it attracted more hackers, smart ones as well. So, we now have a lot of really smart hackers checking out what this bitcoin thing is and see that if they hack proper places they can really profit from it. Back in the day it wasn't this way because bitcoin didn't worth much for them, however now their hacks are really paying off.

In the past hackers could have entered with ease, and now scenario is different.

We cannot stay calm even we are having highly secured systems are in act. Because, when a weakness being discovered, hackers will get ready to exploit that to the maximum and we cannot be sure that they cannot discover something all the times.

[Wayan_Pedjeng]

Since Bitcoin is a digital asset, it will always be quite vulnerable to the hackers. The exchanges are adding new security features, but at the same time the hackers are getting more innovative. The only solution is to keep your coins in your own personal wallets.

[Elizabeth4Mitchell]

I am and will still trade in Binance. Known as the number one trading platform, Binance is the latest victim of network attacks. Unlike insider trading in Mt. Gox and personal code stolen at Coincheck, Binance was somewhat confused by a more sophisticated and sophisticated behavior. However, miraculously, the security of the trading platform has detected suspicious activity and hackers can not take a single dollar.

[cahbagus555]

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 am believe big exchange like binance and bancor always increasing their security. Hackers always find a way to stole our money because its what they do for living. What we can do is protecting our accounty by activate 2FA on our account. Activating 2FA increasing security on our account on exchange

[ecnalubma]

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 believe Binance was not hacked it was due to third party bots being compromised. There's always a possibility that hackers can penetrate any systems no matter what platform it is, for that instances they continue to improved and upgrade their systems. There is no perfect program and security is always a nightmare for every developers.