hackers becoming smarter than exchanges?

[Oilacris]

it's not like that. hackers are not smarter then exchanges it's just the fact that they focus on finding the security loopholes and exchanges try to secure their sites in every possible way. it's like a war between the security vs majority because there are a lot of hackers searching for a bug or vulnerability and there is one 1 exchange to protect from them. Even good and Microsoft got hacked so why can't exchanges be hacked.

You say yourself that hackers are smarter than "exchanges". IT security team of exchanges have to take care of their website/online service securities, try their best to get rid of bugs but they fail and instead of it, hackers are more clever in finding them and exploiting. So this is real truth which isn't good of course. There may be another task, security team manually leaves some bugs and then act like hackers, maybe it sounds foolish but who knows, such fact was on slots too.

Where there is a lot of money spinning nothing can be excluded.Although for a big exchange like binance,it looks very funny.For them reputation is more valuable than small hooliganisms.

Depending on the mindset because there are some security personnel's might really fall out into a pit where their greed turns on.

we wont even know if they do solely or intendedly making a hole and later on they do exploit out the site.Inside job is inevitable
because everyones minds can change from time to time.

[Janation]

Yes sometimes it will be true but how we can handle our properties safe and secured is very important because if we are very safe then no one will enter into our side and hack something if we are very careless then they will perform more and more powerful than us.

You see that is the misconception of people right now.

They think that hackers can't hack into their PCs or computers since they are confident that they can't do it but they are forgetting the most vulnerable despite with that close to impenetrable security, we, humans. We are the most vulnerable, the weak point of our security and unless we make ourselves develop or knowledgeable about them. They are tricky and so smart that is the reason why we should still be careful.

[aioc]

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 never know, could be an inside job and besides hacking exchanges is a multi-million dollar business, it's a bane to the community, it is something that should be addressed immediately because the impact is wide, every time we read about hacking exchange, it follows a drop of price, all exchanges should guaranty their users coins.

[Duzter]

A hack executed perfectly on the crypto ecosystem is a life changer. Based on the fact hackers were much dedicated to it. This has made them to be smarter than the exchanges. Hacks happen quite often, and Binance getting hacked is not a big news. This needs to be considered the right time to make the platform highly effective to avoid security problems which is much important in cryptocurrency usage as the funds lost can be traced and can't be retrieved back.

[FUD Expert]

No, I think these hackers just study thoroughly the security protocols or anything that these top exchanges implement. Whatever complex security feature comes out, it is very certain that there will be a course or explanation because a company sells that kind of online security. That means it is available for the hackers to check on it and find a way to bypass it.

[xSkylarx]

Imo hackers become smarter when they can't hack something. It's a challenge for them to hack that website. There are many types of hackers, there are some who hack the website to find a vulnerability then report it to the dev of that website, there are others too who do hacking to steal money. Because crypto transaction are anonymous, if they can hack it no one would be able to identify them.

[OnceTwiceThird]

Last years many exchange was hack and they have lost billion USD, hacker becoming smarter than exchange because could stole many altcoin kinds from exchange market.

[Barbut]

Imo hackers become smarter when they can't hack something. It's a challenge for them to hack that website. There are many types of hackers, there are some who hack the website to find a vulnerability then report it to the dev of that website, there are others too who do hacking to steal money. Because crypto transaction are anonymous, if they can hack it no one would be able to identify them.

If you don`t make progress with the time you will be left behind. It`s not just a case with hackers and exchanges, it`s the case with everything, with us. We need to make progress, we need to get better in what we do over time. Hackers aren`t an exception.
And about this matter, I agree with people who say that exchange hacks are mostly inside jobs. Proven to be true several times.

[mirawantirinjana]

I think IT technicians from an Exchanger are certainly not stupid people they are great people, but a system certainly has its disadvantages. so that the shortcomings were traced by hackers, for them to be damaged.
But that does not mean the Hackers are smarter than exchangers

[toast]

I think IT technicians from an Exchanger are certainly not stupid people they are great people, but a system certainly has its disadvantages. so that the shortcomings were traced by hackers, for them to be damaged.
But that does not mean the Hackers are smarter than exchangers

I think the hacker is indeed clever, he is always looking for loopholes to be able to commit a fraud. so sometimes hackers are indeed looking for an opportunity that sometimes we are off guard. therefore we all have to be careful about the existence of hackers. because the hackers really are very detrimental.

[Clark05]

Hackers are now more smart than the exchanges and it's time to change that. The exchanges now need high security to protect their exchanger 24/7 for the sake of the trader because possible the trader will be suffer that also if exchanger hacks. Not only them need to be smarter but we as a trader too we need to become smart now by simply transfer our coins from the exchanger to the wallet.

[coinluisa]

We all know that the hackers is very smarter they can do anything in just one click. Maybe the problem is the low security of the exchanges that's why they easy to hack. They need to make a strong security to make sure that this hackers can't make enter anymore.

[Lanatsa]

And now we are seeing that the entire market is already booming up and BTC is on the rise.Lets expect for an another possible
exchange hacks news because most of the time when market tends to be bullish,these kind of news do pops out unexpectedly.
Hackers do attack when its the right time.

[reality18]

Exchanges are doing well each time because the exchange site is always under attack. The exchange developers, however, need to put in extra effort to improve the security as hackers always find new codes to break the old security walls.

[sulendra12]

They are being called hackers for a reason, they can bypass the security no matter how tight and secure the system is as they can try many ways to bypass and fulfill their jobs to be done. If they were not smart, then they wouldn't get call as hackers.

Also for those whose saying that exchanges need to improve their security. It's not easy to do and it takes time to do it.

[Rufsilf]

They are being called hackers for a reason, they can bypass the security no matter how tight and secure the system is as they can try many ways to bypass and fulfill their jobs to be done. If they were not smart, then they wouldn't get call as hackers.

Also for those whose saying that exchanges need to improve their security. It's not easy to do and it takes time to do it.

Exactly, hacking is like a profession to them that they put a lot of effort to look for loop holes for them to take advantage, they are indeed the smartest because they are able to bypass any security so exchanges should revisit their security measures and tighten it to avoid this types of problems.

[Janation]

Exactly, hacking is like a profession to them that they put a lot of effort to look for loop holes for them to take advantage, they are indeed the smartest because they are able to bypass any security so exchanges should revisit their security measures and tighten it to avoid this types of problems.

They earn lots of money through it.

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.

[shoreno]

Exactly, hacking is like a profession to them that they put a lot of effort to look for loop holes for them to take advantage, they are indeed the smartest because they are able to bypass any security so exchanges should revisit their security measures and tighten it to avoid this types of problems.

They earn lots of money through it.

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.

according to google there are three types of hackers namely black , white and grey ( hat ) . the black is the bad one because they use thier skills on  stealling  . white and is good and grey can do both  . the one that your talking about that a company hire is a white hat hacker and yes there are counters .  hacking is really a profeesion because they also study and learn with it  , it takes a long time to master it because hacking is a verry hard job even if you are already a computer litterate  .  thats the reason why hackers are smarter than an exchange or any website/security  .

[fiulpro]

I do think that they were always smarter than exchanges .
The bad things about technology is , no matter how perfect I seems right now but 10 years from now it will actually start getting used less because sooner or later technology is going to evolve and people will find faults within it and hack it.

If a particular exchange , a particular online firm , a company isn't able to update itself up every once in a while then I don't think it is going to survive 10 years from now.

With technology you need:- updates , simple.

[mazdafunsun]

I highly doubt that Binance could be named as hackable exchange . I remember that I red about Binance attempted hack where hackers had gotten access to many accounts with phishing and then one day they decided to use those accounts to sell users assets, buy another coin which hackers already had. Then they sold those coins for high price and tried to withdraw the funds.

I think that this is very advanced attempt but the Binance had already automatic algorithms which prevented this theft.

This shows that Binance is going with the times and is working to be secure.
It is hard to say about other exchanges which are hacked very often with or without help form inside.