hackers becoming smarter than exchanges?

[ParkSaezz]

They work with great discipline to be able to enter the network they want to crack, even through very small gaps, so theft can occur. Sometimes it even involves insiders. For hacked crypto exchanges that lose millions of dollars, prove that the level of security is still not perfect.

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[Viper_Unleashed]

MT gox was the probably the beginning of a new time era.
After that we had seen things are slowly turning ugly and they saying still holds "only invest what you can afford to loose".
Regulations bans and more things going on and each day hackers are trying out new things with more focussed approach.
Bancor bithtumb and still going on.

few days back also heard news about cryptolocker malware.
Mining and working on a same computer probably increases the risk of getting compromised.

[tumokatok]

Hackers are always looking for ways to steal information from the person who is holding the bitcoin and, moreover, the bitcoin will give us a lot of valuable assets, but the bitcoin system is very safe and hackers can not. more intelligent than the exchanges

but as a trader we must always be aware of hacker attacks, my advice is not too long if you keep your assets in a crypto exchange, because it will be a big risk if the stock is hacked

[RudeeTam]

I believe their systems are intact and well secure enough. I think the problem is likely it's an inside job. I'm not pointing fingers but it would take a lot of cloak and dagger to get inside their systems them knowing that they are handling millions of dollars worth of coins.

[shesheboy]

Hackers are always looking for ways to steal information from the person who is holding the bitcoin and, moreover, the bitcoin will give us a lot of valuable assets, but the bitcoin system is very safe and hackers can not. more intelligent than the exchanges

but as a trader we must always be aware of hacker attacks, my advice is not too long if you keep your assets in a crypto exchange, because it will be a big risk if the stock is hacked

do you mean if a site is hacked ? stock cant be hack but a site or exchange can . anyway , i agree on you that we need to safeguard our funds on our own hands and not on any exchange or wallet because they are open to hackers .

hackers are always smarter than any exchange because an exchange is only built by humans . humans or hackers is the only one that can destroy it .

[TheWolfCrypto]

Hackers aren't smarter than cryptography, the main vulnerability here is in the people who run the exchanges. Most of the hacking occurs with the use of "social engineering" to gain access to closed technical files.

[slyfox]

The problem with exchanges is that it doesn't matter how high their security really is they have to interact with people, and this opens up a lot of possibilities for hackers to send links or viruses in those messages that could infect a machine in the network of the exchange which eventually will give the hackers a way to steal the coins of the exchange and their customers.

[kramat]

indeed, for those who have many assets, they will worry about hackers, which can damage the security system and take everything without exception, so that additional security is needed so that hackers find it difficult to make money laundering.

[BTC_ADA]

A lot of Finance now hangs on the crypto-currency exchanges and for hackers it's just tidbits,it's much more difficult to hack the BlockChain wallets,and for a large community of hackers to hack the Russian exchange for example Yobit is not difficult.

[ocid]

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.

sometimes hackers are more geniuses and they can do anything to take the assets of others, their cunning intentions have been carefully thought out by studying weaknesses in various exchanges. This is not strange anymore, even though the exchange market has extra security without them knowing there is always someone who is greedy by using his intelligence to do everything that can harm others.

[Fendi23]

I think the exchange must be in extra security for transaction because it will the investor comfortable

[leavolnhals]

I do not think that. Because there are many other applications that help hackers to easily penetrate the security layers of the trading platform. So the trading floors are vulnerable to attack. So I hope we should invest and trade on some major exchanges to be safer.

[efxtrader]

Hackers always find a way to stole crypto in exchange. If we have plan to keep our crypto for long term, its better to transfer our crypto to our own wallet not exchange wallet. Beside that, to secure our account, we should use 2FA

[Eijrafarm]

I think that many hackers started to breach the security system of many exchanges this is why exchanges started to implement KYC system to protect every exchange that involve in crypto.

[shushanika]

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

You bring up a good point, nowadays there are so many exchanges, not everyone should be trusted. In the history there were several exchanges that closed down and run away...last year there was a hack on Etherdelta and many believed it was an inside job...the companies owners sold the platform...and just when it changed hands...hacked

[andika2018]

The safest way to secure our coin and token is not keep it on exchanger wallet. After we buying coin and token in exchanger, better transfer it to wallet and make back up and keep private key or seed from others. Hackers always improving their skill and we should be not careless

[Olalomi]

Binance and bancor are two reputable exchanges of  Cryptos  they should ensure that they employs experienced cyber security experts to prevent hackers from gaining access into their system, this give credence and credibility to them and encourages more traders to use their platform and will go a long in trusting their system.

[Getmon]

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.

[OrangeII]

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.

[CryptoCompas]

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.