Hacking kills the cryptocurrency market

[Flor1982]

It is true, as it will make crypto currency users to be disappointed on this investment making some of them to leave and will shift to none crypto investments. I have observed many times that after an exchanges will be hacked the market will crash as maybe those hackers are dumping right away the stolen cryptos for the fiat making the price to fall. Hopefully these people will be fully avoided as they are really one of the obstacles to the success of crypto currency.

[10BTCaDay]

When it comes to the security of your assets, you should first of all be concerned that they are safe. The most secure way to store cryptocurrency is your software or hardware wallet. In no case do not store your tokens on centralized exchanges, and your private keys and passwords on network resources.

Why not store on centralized exchanges? if you are a trader then you can't without it. just need to be stored on different exchanges. Well, if at the centralized exchanges that something happens through the fault of the exchange, you have a chance to return the money. if the money disappears on your wallet, then there is no chance

[Russlenat]

There are also no guarantee that a centralized exchange can return all your money because when the time they got hacked maybe they will announce its closure and bankruptcy so not sure about that.

[Asimmo]

Someone mentioned insurance in above pages and what type of wallet insurance do we have?
WHo offers best services for it?

[tranquangvinh]

 If you are using those best exchanges on the cryptocurrency  ,  I think it will be difficult to happen . Even if it happens , I think the exchange will refund the lost coin for you .

[jan.nicolas]

I will tell you about my sad experience, I had the MEW wallet cracked and almost all the means were stolen and nothing could be done about it. And if we are talking about the theft of funds from stock exchanges, then this greatly affects the market as a whole, since in the future large volumes of tokens are sold for a pittance

This is true today and it is very often practiced, although the exchanges say that they label these coins so that they can be seen where they are sold and how they are sold. But in the end no one is punished.

[Aryleeto]

Fortunately, of course not hacked but friends almost all hacked , and they certainly were very upset and abandoned cryptocurrency is of course very sad

[James_Cline]

I agree with you. Hacking is very very big reason. I think not biggest but big reason. cyrptocurrency market is very risk because of this people scary about the investment this market. People do not trust the markets and projects.

Exactly. People will be hesitant to invest on something they could potentially lose to a potential threat. I mean, I’d rather lose money because of a slow market then to the hands of a greedy hacker, right? I despise this hacking so much, that I’m currently looking into other options that could be safer and more secure. Has anyone encountered the Virie Market here? According to posts about it, market entries in this DEN are non-editable, non-erasable, private, decentralized and cannot be hacked. One of their selling points is also easy storage and transfer wherever one is in the world. Because it’s digital, you don’t need to disclose your identity or the purpose of the payments, you can transfer funds regardless of amount without the need of providing data and additional documents. Accounts can’t be frozen as well. Looks promising, in my opinion.

[martabaktelor]

This is a very serious problem, hacking has resulted in people experiencing heavy losses. Lots of hacking occur and their money is non-refundable. All we can do is prevent hacking from happening. It's better to keep your assets in a hardware wallet and you also need to be able to save the password for the password correctly.

[Tervelatuk]

This is a very serious problem, hacking has resulted in people experiencing heavy losses. Lots of hacking occur and their money is non-refundable. All we can do is prevent hacking from happening. It's better to keep your assets in a hardware wallet and you also need to be able to save the password for the password correctly.

we have to able to make our accounts and wallets be secure.each methode has own disadvantages such as hardware wallet.when it gone we could not access our asset.each day hackers develotp their skill to attack our wallet and exchanges account.

[Duogembrot]

yes, you are really hacking, many will try to destroy crypto markets by stealing funds stored in crypto market users so that you should be careful when storing cryptocurrency in exchange.

[elis74]

For some reason it seems to me that lately everything depends on how we perceive cryptocurrencies. And since we perceive them in a negative way, investors rather than hackers are to blame for the fall

[rafa_uefa3]

I've told long ago, that hacking kills market, moreover it's causing FUD and used by whales to manipulate the market,
maybe decentrilized exchanges will help industry.

[bitcoinst]

I am always extremely skeptical about hacking messages from users. In 90% of cases, the user himself is to blame for the fact that he was able to hack. There are a lot of options like this: from installing non-licensed software to switching to phishing sites that easily steal your data. Your vigilance is a pledge of your protection against hacking.

[jan.nicolas]

yes, you are really hacking, many will try to destroy crypto markets by stealing funds stored in crypto market users so that you should be careful when storing cryptocurrency in exchange.

Do you mean that there are some other ways of hacking? I think that there are such opportunities at the level of social engineering because many people do not pay attention to some actions that they do.

[bartusv]

I do not think that hackers kill the market as many exchanges are refunding their customers if they were hacked.
On personal level we have to do all the needed protection measures not to fall in the trap of a hacker and it is
our own responsibility.

[oneforall]

  I was involved in many areas of cryptocurrency and not been hacked, nor attempted to. You just need to follow simple security rules and all.

[labilaab]

Yes you’re right. I think its one of the main reasons also as to why cryptocurency is still not fully accepted worldwide that there are still countries banning it. But since we are in a modern times already all I can suggest is that cryptocurrency should be taught to any schools so that people who are new to crypto are not new to it at least. Since mostly the ones being hacked are those still ignorant to crypto itself or even some of the experienced also sometimes. Well I myself is just a mere a 2nd yr of BSME and didn’t finished my degree but now proudly experienced enough in crypto field. IMO, its individual’s careless decision on visiting site to what exchanges he gone through and not being careful enough to take good care of he’s or her private key.

[pinoyden]

  I was involved in many areas of cryptocurrency and not been hacked, nor attempted to. You just need to follow simple security rules and all.

Were on the same boat mate as i dont also experienced to get hacked maybe because we are only a small time hodler ? Hackers wont ever get interested to our balances because its not really worth it all if they will try to attemtp stealling our accounts/wallets  .

Yet   ,  crypto wont ever be killed by hackers because even though many exchange and business man have been hack,  they will still continue to invest and buy cryptos because they know that hacking is only normal and have been a part of our lives .

[libert19]

Three simple formulas to avoid getting scammmed/hacked.

1. Don't put your funds on exchanges.
2. Don't share your private key/seed words with anyone.
3. Don't trust PMs you receive in telegram/slack/discord.