hackers becoming smarter than exchanges?

[Carreuh]

Whatever hackers can do, no matter how secure the security of an exchange they are, hackers have a loophole to hack it, either in the near future or long, and the hacking precepts that occur against binance may have been their way of knowing how they are far away  far away so they can hack it

[1715633026]

1715633026

[iv4n]

Evolution is the right word here, you will either make progress and develop yourself and your skills or you will be outperformed by someone or something else. It was like that and that will be like that in the future, do not doubt in that. Hackers will exploit any kind of weakness exchange has, it`s what they do, it`s on exchanges to try to stop them.

[Rishblitz]

All the smart HACKERS will do any various things ways to steal, We just have to beleve in the security of the exchanges, exchanges needs to strengthened their security to prevent the hackers, Hackers keep incriasing and evolving so we have to.

[Wolfwar]

No need to leave large amounts of their funds in the accounts of the exchange.  This is said everywhere and always.  No need to violate these rules, so you do not regret.

[MTL4]

Reminds me of the old saying "Best way to rob a bank is to own one!"

[Moshaid]

One thing I keep saying is that no matter how small a user fund could be, he/she should not keep it on exchange for a long time. No exchange in the crypto space can guarantee 100% maximum security, everything on this space is prone to hacking which is one of the reason why users must store their funds in a decentralized wallet or an hardware wallets which are simply the safest.

[Dread Pirate Roberts]

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 a security system there must be a gap that is very guarded by the system. all depends on the security of the website and the people behind of the website. there is Many reputable exchange cases have to ended horribly and claimed the company was hacked and the coin was lost. if we remember the past like mtgox and other exchange that are trusted exchange at that time. but the possibility of vulnerability of stil systems exist these days. so this why i just believe with my own wallet . im just using exchange for Exchange to real money, not as my wallet to saving money there.

[Sirait]

right, everyday hackers get smarter and innovate. so for the security of exchange accounts, we should use many security doors, such as email verification, google authenticator verification, short message verification and use metamask (if needed). at this time you should not use an exchanger that does not provide this security door feature because the chances of getting hacked are huge.

[Vaskiy]

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 a security system there must be a gap that is very guarded by the system. all depends on the security of the website and the people behind of the website. there is Many reputable exchange cases have to ended horribly and claimed the company was hacked and the coin was lost. if we remember the past like mtgox and other exchange that are trusted exchange at that time. but the possibility of vulnerability of stil systems exist these days. so this why i just believe with my own wallet . im just using exchange for Exchange to real money, not as my wallet to saving money there.

Already several horrible incidents have took place when the price of bitcoin was very low compared to the present. When something gets more value automatically the focus of the innovative people will turn towards the same and keep on learning to acquire it. Some does it in the right way while some try the back door. Everywhere everything can't be perfect, exchanges too have loopholes and the same is being used by the hackers. This is endless however secure we keep the funds.

[Jamjamz30]

It is true that Hackers nowadays are really smart even scammers as well, if there is sometime that the exchange has been hack it means the protection security of the exchange platform was not safe. And hackers doesn't care if it is big or small exchange just for them their aim is to hack and get something to satisfy themselves.

[bryant.coleman]

Many of the smaller exchanges don't have enough staff or resources to look after the security. And this is one of the issues, when we have hundreds (if not thousands) of exchanges vie for the limited number of traders. From what I have seen during the last 7 years, if BTC gets stolen from an exchange, then there are mostly two possibilities - either the exchange was complacent, or it was an inside job.

And there is an altogether different issue in storing ETH and the ERC-20 tokens in exchanges. The security system of the ERC platform is not that advanced. And this is one of the reasons why Cryptopia initially refused to allow ETH and the tokens in its platform. Despite all the forks, the Ether platform lags behind in security. 

[Hallmader]

It is always a battle of brilliance and skills and knowledge online. The two companies that you mentioned should be ahead of this battle because they have the resources to hire the cream of the crop when it comes to security maintenance. There are individuals who are really brilliant in their field that they can break security protections made my a number or team of people. This is a huge call to these companies to step up or get compromised once more in the future.

[BennyK]

Hackers are always on the move to come up with new ideas to decode and break the security walls of exchange platforms in order to get to the hot wallet. This is the profession of the hacker. Knowing how relentless these hackers may be, exchange platforms are always entreated to update their security walls and employ high tech personnel capable of ensuring absolute security on the trading platform.

[SvonioneFromMangoCoinz]

No, I think they don't need to change the security all the time because that is a waste of time and effort.
CZ said that Binance's exchanges were hacked because they announced their security system at press conferences and that revealed a lot of information about the type of security they are using.
To prevent that, they have to create a better security layer and keep it secret, not public.

[veleten]

it is always easier to attack something than to prepare defense , the attacker knows when and where and how
while the defender has to be prepared to as many scenarios as possible
with the cryptocurrencies it is much easier to transfer and spend the stolen funds
also , IMHO , many of the "hacks" are inside jobs , at least it looks like this
some incidents cannot be explained from the commons sense standpoint , for example the loss of the private keys when the owner died
somehow he was the only person who knew where are they stored , it is very likely that he was murdered and the story was invented to cover up the tracks

[Mehr Sher]

I am sorry but hackers are always smarter than these companies. However, I strongly believe majority of the hacking is done on self-purpose to just get the cake out, and leave thee cream for users to fight over. So this is why we should only go for established Crypto Exchanges only instead of trying to join hands with any random name. If we go with the random option, we are likely to see some major struggle and that won’t be good at all for anyone.

[coin-investor]

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 agree with your observation, they should a step ahead of these hackers, they should employ the best security people to manage they have the funds to do that, security should be their main concern, I advise investors to go for a big exchange, that has proven to have very good security in place and can guaranty traders funds in case of a hack.

[samridhi20]

Hackers becoming more smarter its not true, they are good knowledge they implemented on time they utilise their time more focused way , and peoples are not fullly aware about their planing so we are missed to caught them their activity so first of all we can improve our knowledge and improve our security they just take advantage of weak point just.and exchanges not full secured by cyber attack so first improve our knowledge .and recognised the all action of hackers and to fail them on the spot .

[Polar91]

Hackers becoming more smarter its not true, they are good knowledge they implemented on time they utilise their time more focused way , and peoples are not fullly aware about their planing so we are missed to caught them their activity so first of all we can improve our knowledge and improve our security they just take advantage of weak point just.and exchanges not full secured by cyber attack so first improve our knowledge .and recognised the all action of hackers and to fail them on the spot .

Hackers' mind set is dynamic. There are a lot of possibilities and methods they can use in order to penetrate through the security of an exchange. Even the most secured thing in this world is not vulnerable free at all as innovation makes hacking do anything possible. On the other hand aside from improving our security, it's also important to choose wisely whom should be trusted or not. By this way, the risk of being hacked tend to be lesser.

[fortunecrypto]

It's really too bad, exchanges have enough funds to covert their security, they can hire top security experts to use the best tools and servers to make sure that hacking will never be an issue because exchange hacking has an effect on the market, it's like we are moving backward, instead of moving forward.