hackers becoming smarter than exchanges?

[Barbut]

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.

Centralized exchanges are much more vulnerable than decentralized exchanges, that`s why we see so many hacks connected with centralized exchanges. Step forward will be when we start using DEx instead of CEx, because DEx is much safer. I don`t think that are hackers can be smarter than exchanges, they just use the opportunity and in most cases, they have some help from the inside.
Recent hacks didn`t have huge effects on the market like it was the case before. Things are changing as we can see.

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[boyptc]

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.

It's one result when there's an exchange that lost a lot of money through hacking.

The popular ones have hired the best security devs/experts that they can. It's just these hackers are always looking for loopholes and studies on how they can penetrate to their system. They are hackers and they are living to steal people's fund.

[kennen1113]

I wouldn't say that hackers are smarter than exchanges. Exchanges are very well aware of security risk, they just don't pay enough attention to protect their users. We might as well say that they are reluctant to invest in security. So users actually don't have much choice but to be more careful and protect themselves the best way they can.

Your thoughts are the wrong, the best exchanges after achieving stable developments, they always focus on developing the security and protecting their users in the perfect way because they know these little notes, it will be a factor for long-term development, if they don't take care of their customers and let their customers take unnecessary losses, customers will abandon them, even bad news will spread. But unfortunately, hackers are really smarter than exchanges, bad news about binance in recent days is the best evidence, exchange will need better before customers lose faith

[TrueColorsBby]

It will be an eternal race. When the hackers invent a new method, the exchanges will do the same, and so on.

[Dannaey]

Most of these "hacks" are inside jobs.  They come up with excuses so they can easily run away with users' money.  I've seen it time after time and it looks like this will never stop as long as there are greedy people in this world.

I thought that so. This hacking issues with these two major exchanges may be an inside job. I am not 100% sure but it might be because there's no one else who can do the hacking unless they where the one who developed the system. Maybe one of the developer team of that exchange is part of that hacking incident.

[Irvinn]

The fact is that one hacker can be smarter than another hacker, and the exchange can hire such a person or use the services of a certain group of hackers, even if they do not advertise this or hide this information as a corporate secret.  Based on this, you do not need to consider the exchange dumber than hackers.  An example is the connection between the administration of binance and a certain character, which helps to identify the attacker who hacked Binance and those people who are in the administration of the exchange and helped the attacker.

[Genamant]

this thread was made 2018 , now its the 3rd quarter of 2019
seems the statement still stands even being one of the top exchange unfortunately Binance security is still under construction.

[mandor]

I was also surprised to see a large exchange hacked and indeed hackers are very smarter to break into money from exchanges or steal lots of coins. each exchange may have advantages or disadvantages of each and I think security in the exchange must be increased again so that hackers find it hard to hack money / coins in exchange.

[mirakal]

I was also surprised to see a large exchange hacked and indeed hackers are very smarter to break into money from exchanges or steal lots of coins. each exchange may have advantages or disadvantages of each and I think security in the exchange must be increased again so that hackers find it hard to hack money / coins in exchange.

Every time there is an exchange hack, usually the other exchange knew it and they will also find out how the exchange is hack so they can improve their system. There is no exchange that is hack proof and we have proven that we the recent hack of Binance just this year and just good that people did not complain because they have the SAFU funds, this is the kind of strategy that every exchange has to add, an insurance to their cllients since exchange is always vulnerable to hack even if they have a strong security.

[spike420211]

Sometimes it is not always possible to see in advance all the vulnerabilities in your system. You offer exchanges to act more unpredictably, but with every new update of this type there is a risk that a new vulnerability will appear in the security system. At the same time, it’s much easier to get rid of vulnerabilities that are revealed after a hacker attack.

[kumala_abi]

Sometimes it is not always possible to see in advance all the vulnerabilities in your system. You offer exchanges to act more unpredictably, but with every new update of this type there is a risk that a new vulnerability will appear in the security system. At the same time, it’s much easier to get rid of vulnerabilities that are revealed after a hacker attack.

bug or vurnerability will always occur when exchanges upgrade their system.there is no perfect system , and hackers always trying to find its bug or vuln and exploit this weekness to their own advantages by stealing wallet.exchanges team must do something to prevent accidents again to their security system so there is no investors harmed with this accident.

[Pab]

Hackers are getting smarter than exchanges and also smarter than big companies secured by best possible security systems
I think that people was already able to learn to not leave his funds on exchanges
There was thread on bitcoingarden forum Cmentarny of exchanges.Biggest and small ones
There is hard to find exchange what never experiencing hacking in his history
Other thing is self hack and oh sorry out exchange was hacked goodbye

[Chrystora123]

lone hackers and group hackers always try to find fault loopholes from all exchanges, and their main target is large exchangers who have large daily transaction rates.  many tricks they tried, ranging from phishing sites, fake e-mails and utilizing BUG loopholes.

bug or vurnerability will always occur when exchanges upgrade their system.there is no perfect system , and hackers always trying to find its bug or vuln and exploit this weekness to their own advantages by stealing wallet.exchanges team must do something to prevent accidents again to their security system so there is no investors harmed with this accident.

absolutely right, BUG is a gap that is always exploited by HACKER, this is the reason why bug hunters are needed in testing the security level of a site because just one mistake can make developer exchange a big loss especially from user trust.

[Schirer]

This is a classical game of mouse and cat.
The cybersecurity problems are not just limited to crypto exchanges. A lot of institutions are hacked , also very high class government institutions. It is not that exchanges are not thinking of their security but the hackers constantly find new ways to exploit some holes in their security.

[bitbunnny]

Hackers are getting smarter than exchanges and also smarter than big companies secured by best possible security systems
I think that people was already able to learn to not leave his funds on exchanges
There was thread on bitcoingarden forum Cmentarny of exchanges.Biggest and small ones
There is hard to find exchange what never experiencing hacking in his history
Other thing is self hack and oh sorry out exchange was hacked goodbye

I don't think that hackers are smarter but exchanges just don't care enough for security and don't invest enough to prevent attacks. And hackers will find every vulnerability they can use. They are always step ahead and cybersecurity is still something that people are not aware enough
But I guess that exchanges have estimated that potential loss is still cheaper for them than investment in security features.

[Kasabus]

Sometimes it is not always possible to see in advance all the vulnerabilities in your system. You offer exchanges to act more unpredictably, but with every new update of this type there is a risk that a new vulnerability will appear in the security system. At the same time, it’s much easier to get rid of vulnerabilities that are revealed after a hacker attack.

No exchange could guarantee that they are a hack proof site, vulnerability is always their and smart hackers can find it.
That is why it's necessary for them to focus on the security of the exchange as once it's breach, their reputation will be affected and that could be the reason for them to loss their business. Binance was just lucky to have a SAFU funds, but if they'll not improve, next hack might be bigger that could possibly result to a close shop.

[Jating]

Sometimes it is not always possible to see in advance all the vulnerabilities in your system. You offer exchanges to act more unpredictably, but with every new update of this type there is a risk that a new vulnerability will appear in the security system. At the same time, it’s much easier to get rid of vulnerabilities that are revealed after a hacker attack.

No exchange could guarantee that they are a hack proof site, vulnerability is always their and smart hackers can find it.
That is why it's necessary for them to focus on the security of the exchange as once it's breach, their reputation will be affected and that could be the reason for them to loss their business. Binance was just lucky to have a SAFU funds, but if they'll not improve, next hack might be bigger that could possibly result to a close shop.

This is business that involves a lot of money, cash flowing in and out just like in a traditional based casino. The only difference is that when you are inside the casino floor, there's no way that some criminal can steal money from you. On the other hand, when you play inside a trading platform, theres a lot of ways that you can loss your money.

Service providers need to give us protection when we are inside their platform, simply as that. Hire competent people (inside job), or at train them to the latest technology and cyber security prevention. Although there is SAFU, but that should be only plan B. Plan A should be the protection of their customer.

[samputin]

This is a classical game of mouse and cat.
The cybersecurity problems are not just limited to crypto exchanges. A lot of institutions are hacked , also very high class government institutions. It is not that exchanges are not thinking of their security but the hackers constantly find new ways to exploit some holes in their security.

That is true. That's why, consistent development on their security systems is a must. We now know that hackers also grow smarter as time goes by but that should be taken as a challenge to also evolve and grow smarter than they are and create a stronger and more improved security. This is a wake up call, not just to those huge companies with looming amount of money stored, but also to us simple individuals to be very cautious with everything and everyone so that our security will not be compromised.

[juliepower]

I also think so...and it is becoming more regular than before as even i have got mails from exchnages that successfull login from different locations around the world...so it means some one else accessed my account...
But i never had any amount in exchanges so i never worried that much about that

[randyboy]

I should think about it, is Exchange are becoming smarter right now. why? exchange is our way to trade our funds with crypto and exchange does not do a lot of improvements to prevent hack system and instead they will just let the news spread all over site that their lost its own security. I might think that why exchanges let that happen...? that's why now its too difficult to trust even you use top list exchange.