Hacking kills the cryptocurrency market

[Incodium Coin]

Hacking is one of the biggest obstacles to the cryptocurrency market.
1- Ever been hacked?
2- Lost your coins in an exchange hacking?
3-Did the exchange pay you back for lost coins?

Please share your story, and give some TIPS on how to avoid being hacked.

[Westfiled]

Hacking is one of the biggest obstacles to the cryptocurrency market.
1- Ever been hacked?
2- Lost your coins in an exchange hacking?
3-Did the exchange pay you back for lost coins?

Please share your story, and give some TIPS on how to avoid being hacked.

It should be a correct answer if that was saying the speculators and manipulators have killed the cryptocurrency market. 
For some reason if you are using the major Exchange sites just like binance and then they have been paying all of those victims are getting hacked by hackers and they give a lot of guarantee for your Money.

[flowers5]

I have had very good luck thus far and have not suffered a hack.  I do believe the hackers and maybe even more so the scammers will have a huge impact on crypto.  Many of the elderly and young are going to fall victim to these schemes.  When the paradigm shifts certain people are going to be taken advantage of.  There is just no way to save them all. 

[kobita333]

I never faced such an issue. The only thing where I got sticked is with the shitty sistemcoin exchange. I didn't know they ask for verification process like KYC for withdrawal but it's not required while I deposit.
Good luck is that, I tested a little amount worth $10. Lol

[qiman]

Both my Wife and I have been hacked in MYETHERWALLET and also on exchanges and two developers stole a lot from my Wife. Do NOT trust anyone on the internet, especially in crypto, most are out to steal whatever you have. Telegram groups are full of stealing bots and also even in the bounty sections we are getting people cheating and trying to steal our content and identities. There are big gangs of thieves lurking even on this forum, trying to steal whatever you have. TRUST NO ONE! That is my advice to you here. This is what is putting off mass adoption in crypto right now, too many negative and rogue elements that need to be weeded out first before we can invite others in.

[Isay_Gonzales]

I believe that one of the most important reasons for the fall of the market is hacking and losing money. People lose hope and their assets.

[a2offrb]

Hacking is one of the biggest obstacles to the cryptocurrency market.
1- Ever been hacked?
2- Lost your coins in an exchange hacking?
3-Did the exchange pay you back for lost coins?

Please share your story, and give some TIPS on how to avoid being hacked.

There is no doubt about it at that when Exchanges were hacked, Cryptocurrency market were badly affected because many investors flee as a result and many lost lots of coins. Though, I had not luckily fall A victim of this Circumstance, probably because I withdraw my coins back to my personal Wallet immediately after my transaction had taken place correctly.

[NeuroticFish]

Hacking is one of the biggest obstacles to the cryptocurrency market.

No. Hacking is there since.. 2010? and cryptocurrency market didn't care much of it.
The fact that some businesses or individuals don't know how to keep in a safe manner big amounts of money has nothing to do with the markets.
The fact that the world (including the crypto world) is full of scams and inside job has nothing to do with the markets.

It's like you'd say "the stock markets are a failure because banks and shops are getting robbed from time to time".


Now about staying safe, you have to stick to some obvious rules:
1. Online services are not proper wallets and you should not entrust any service to keep your hard earned money. Of course, they are okay and even handy for small amounts you afford to lose.
2. The proper wallets are on computer/laptop/smartphone, but those need safety. However, it's not normal to buy an 100$ hardware wallet to keep save 50$ worth of Bitcoin. But if you have 1000$+ worth of Bitcoin, a hardware wallet could be a good idea.
3. For companies: it's not normal to handle millions of dollars worth of Bitcoin without a proper cold storage (and maybe even insurance).
4. Most important: don't keep online/hot wallet the funds you don't want to spend in the next months/years. If you do, then it means you love to give presents to the hackers.

[Stavri]

Hacking is one of the biggest obstacles to the cryptocurrency market.
1- Ever been hacked?
2- Lost your coins in an exchange hacking?
3-Did the exchange pay you back for lost coins?

Please share your story, and give some TIPS on how to avoid being hacked.

i have been hacked. but it was not an exchange. my ethereum based wallet was hacked while ago. i have a hardware wallet but i was temporary keeping my tokens in an other wallet. and they hacked and transfered all my balance to another wallet.

[rollingstorm45]

luckily I have never experienced hacking on the exchanger that I use
but, as far as I know, every exchanger must register the platform with an insurance company, so when they lose money, the insurance will replace the lost money

[Hillthy]

Hacking is one of the biggest obstacles to the cryptocurrency market.
1- Ever been hacked?
2- Lost your coins in an exchange hacking?
3-Did the exchange pay you back for lost coins?

Please share your story, and give some TIPS on how to avoid being hacked.

indeed. Every year we recognize many hacker attacks and bring about very bad injuries and trends. You can remember about bithumb, bancor, etc. that is scary. Fortunately, I have not been hacked on the trading floor. but with MEW is there. I was confused because did not know their methods. I removed the privatekey and only retained Json for the login. This method is OK.

[batang_bitcoin]

1. No
2. No
3. No experience so it never happened.

My advice is don't be so caught up with new exchanges that you are curious with. And secure your wallets as well because hacking isn't only happening through exchanges. When there are events like this to an exchange, larger amount of funds are being robbed and that's the portion of total money of that exchange. Don't login to unusual websites and bookmark websites that you use.

[DeepChipolino]

I think that the biggest damage to crypto is scam. Hacking does not take out so much money from crypto, but creates a FUD.
Scam ICO is the greatest damage. Investors' funds do not work for the industry, but lambos and yachts are given to the wrong people. This reduces the faith in crypto, reduces the flow of new funds. As a result, the crypto industry is oppressed and does not develop.

[Herbert2020]

not at all. hacks have been happening for as long as computers existed and mostly when the internet was invented. and they always been a nuisance but they never preventing growth or anything like that. the cryptocurrency market is also suffering from hacks and lack of security mostly because exchanges are shit when it comes to trust (not just security because they are known to scam their users and call it "hack") but it still isn't a preventing force.

[mh6e]

I have had very good luck thus far and have not suffered a hack.  I do believe the hackers and maybe even more so the scammers will have a huge impact on crypto.  Many of the elderly and young are going to fall victim to these schemes.  When the paradigm shifts certain people are going to be taken advantage of.  There is just no way to save them all. 

Yes those scammers and hacking issues are the one factors give negative impact to cryptocurrency. That's the reason some investors still afraid and hesitant to invest or put up more for those already invisting. Although I think crypto is doing all the possible measures to prevent it still some scammers and hackers get through.

[CreamIce]

I am still young in this market, so no, thankfully it's been a safe experience me so far.
There are various measures we can take in order to keep safe,
Minimum dependency on exchange, best to use wallets. There are multi-coin wallets available too. They can be targeted too but still safe compared to exchange.
And some golden rules that apply to banking in general, awareness about phishing techniques and not bragging about the investments and gains you have made.

[Incodium Coin]

not at all. hacks have been happening for as long as computers existed and mostly when the internet was invented. and they always been a nuisance but they never preventing growth or anything like that. the cryptocurrency market is also suffering from hacks and lack of security mostly because exchanges are shit when it comes to trust (not just security because they are known to scam their users and call it "hack") but it still isn't a preventing force.

Interesting perspective. Very correct, l must say. However, you do agree that hacking in the market erodes confidence, gives people who do not want cryptocurrency to flourish a good excuse to condemn the market.

[kier010]

i never experience being hack since i start in crypto. we should do things to keep are crypto safe. i always withdraw my coins after i traded and never left it exchange sites. even though exchanges site have good review we can't trust them. also i access MEW through metamask instead of accessing it directly.

[Incodium Coin]

I think that the biggest damage to crypto is scam. Hacking does not take out so much money from crypto, but creates a FUD.
Scam ICO is the greatest damage. Investors' funds do not work for the industry, but lambos and yachts are given to the wrong people. This reduces the faith in crypto, reduces the flow of new funds. As a result, the crypto industry is oppressed and does not develop.

Very right, hacking is bad but scammers are the worst. They do so much damage to confidence and the market.

[Incodium Coin]

Hacking is one of the biggest obstacles to the cryptocurrency market.

No. Hacking is there since.. 2010? and cryptocurrency market didn't care much of it.
The fact that some businesses or individuals don't know how to keep in a safe manner big amounts of money has nothing to do with the markets.
The fact that the world (including the crypto world) is full of scams and inside job has nothing to do with the markets.

It's like you'd say "the stock markets are a failure because banks and shops are getting robbed from time to time".


Now about staying safe, you have to stick to some obvious rules:
1. Online services are not proper wallets and you should not entrust any service to keep your hard earned money. Of course, they are okay and even handy for small amounts you afford to lose.
2. The proper wallets are on computer/laptop/smartphone, but those need safety. However, it's not normal to buy an 100$ hardware wallet to keep save 50$ worth of Bitcoin. But if you have 1000$+ worth of Bitcoin, a hardware wallet could be a good idea.
3. For companies: it's not normal to handle millions of dollars worth of Bitcoin without a proper cold storage (and maybe even insurance).
4. Most important: don't keep online/hot wallet the funds you don't want to spend in the next months/years. If you do, then it means you love to give presents to the hackers.

Great advice.