Hackers Just Had A Field Day on Nuls. $480k Worth Token Stolen

[TastyChillySauce00]

Again one more hacking incident happens in crypto and stolen worth of $480k nuls tokens and my point is how can the hacker target weak address and find the private keys, maybe in the coming days we can see more incident like this in crypto? or there is any way to stop this?

The unfortunate thing is, no system is safe. It doesn't matter how much you invested into the security there'll always be a hole that could be penetrated by the hackers though if invested massively to the security it could somehow bring more security or at least buy time for yet another improvement like all those internet giants for example google. I guess hacking activities will still occur in the future but I hope I'm wrong.

[mamesso]

The hacking case that happened on the Nuls Blockchain Platform is not the first to occur in the world of cryptocurrency, previously the same case also happened with Bitfinex, Binance, and CCEX. This kind of thing is very difficult to avoid, because the majority of hackers will continue to carry out their evil intentions to carry out its mission. And to reduce hacking again, the platform must immediately improve security so that the same case does not re-occur.

[asus09]

Why very easy for platform on crypto hacked? last month Upbit exchange market hacked with many eth in their account today we got bad news with Nuls hacker and lost about $480k worth token stolen, why not many platform in crypto upgrade their security system and make bounty bug for their exchange to make is very safety later, why always happen the same hacked in crypto.

[jcarlo]

Why very easy for platform on crypto hacked? last month Upbit exchange market hacked with many eth in their account today we got bad news with Nuls hacker and lost about $480k worth token stolen, why not many platform in crypto upgrade their security system and make bounty bug for their exchange to make is very safety later, why always happen the same hacked in crypto.

Hopefully there is a solution for events like this, investor losses can be compensated. Hacking attempts will always be there and I hope there is an increase in security so that hacking does not continue to recur.

[Thomas-s]

we probably won’t see the medicine from the hackers. and most likely this will never happen. the only way to avoid such hacker attacks is not to invest your money in such coins. in the usual economic system, hacking attacks also always happen and they cannot be predicted or stopped. I choose the safest coins for investment, but I'm also not always sure that they can not be hacked or stolen.

[Ucy]

Blockchain platform Nuls has lost almost $480,000 worth of NULS tokens due to a hack, according to a security update tweeted on Dec. 22.

In its tweet, Nuls said it had detected that 2 million tokens had been transferred, of which 548,354 tokens — worth roughly $131, 600 — had entered the trading market and were now untraceable.

https://cointelegraph.com/news/hackers-grab-nearly-480k-from-blockchain-platform-nuls?utm_source=Telegram&utm_medium=social

Will there be a remedy for the incessant hacks in 2020?

I wonder how hackers were able hack a Blockchain/Blockchain platform. I guess the hackers stole the coin from a single entity. Or could be a centralized platform calle Blockchain by the writer. Article mentions "enterprise Blockchain".
I guess it's a good thing the company is considering ahard fork to reverse the hack. What then happens if the coins has been bought by another person?

[Roidz]

Blockchain platform Nuls has lost almost $480,000 worth of NULS tokens due to a hack, according to a security update tweeted on Dec. 22.

In its tweet, Nuls said it had detected that 2 million tokens had been transferred, of which 548,354 tokens — worth roughly $131, 600 — had entered the trading market and were now untraceable.

https://cointelegraph.com/news/hackers-grab-nearly-480k-from-blockchain-platform-nuls?utm_source=Telegram&utm_medium=social

Will there be a remedy for the incessant hacks in 2020?

It seems that 2019 hacking is becoming increasingly common and this usually happens on several platforms and market exchangers that have a fairly low security system, so hackers can easily take valuable assets, I think from a number of events that have passed should be a lesson for exchangers or other platforms should prioritize their security systems to be more sophisticated and difficult to hack.

[aardvark15]

The problem is that centralized  exchanges are vulnerable to hacks and we face the risk that they just steal our coins.

The answer is probably decentralized exchanges which are apparently in the works now. Supposedly with these, the user hold their own private keys.

[pgbit]

Yet another hack incident to add to the list of hack cases in 2019, this year has been an awesome one for hackers and a bad one for investors, the two major exchanges that were hacked refunded their users the tokens they lost but these individual project hacks is usually the most devastating because the hackers would dump the token price in most cases and it would take a lot of time for the price to recover, if it ever does.

[Amel]

There will be no remedy as long as we uphold this decentralized system, hackers will continue to develop utilizing the freedom and anonymous nature of this system. The only way out is to always update the system of every coin developed, only that is the step to prevent it because hackers will always look for and find loopholes. Even though in a centralized system, it is still able to hack but at least it can be traced and not for here.

[wxa7115]

Damn, we're almost at the end of the year but hackers are continuing their misdeeds but stealing almost half a million here. I guess everyone, including the devs, should look at their code so that there will be no exploits whatsoever so that they can prevent this happening in the future. They should do a test first on their code, before releasing it because hackers are always one step of the game and we don't want to hear this kind of news, specially at the end of the year.

Well they are hackers and if the documentaries I have seen about them are any indication this is the moment of the year in which they are the most busy since people are using all forms of electronic forms of payment and they want to take advantage of that.

You are right when you say the developers should take better care of their code and their first priority should be to look for vulnerabilities on their code, but we are assuming they actually care for their project and for their investors something we know is not true in the majority of the cases.

[xZork]

The fight against hackers will be a long and very difficult one. Every time we upgrade security, hackers take it to the next level.
Perhaps the best way to combat hackers at this point is to always increase security.

[coin-investor]

Blockchain platform Nuls has lost almost $480,000 worth of NULS tokens due to a hack, according to a security update tweeted on Dec. 22.

In its tweet, Nuls said it had detected that 2 million tokens had been transferred, of which 548,354 tokens — worth roughly $131, 600 — had entered the trading market and were now untraceable.

https://cointelegraph.com/news/hackers-grab-nearly-480k-from-blockchain-platform-nuls?utm_source=Telegram&utm_medium=social

Will there be a remedy for the incessant hacks in 2020?

This has been the biggest issue this 2019 and it will continue to happen this 2020, it's now up to investors to only trust exchange that can beef up their technology to the highest possible level, and those who can guaranty their trader's account and funds, and as long as there are hacking attempts Cryptocurrency will not progress and adoption will not move fast.

[Kasabus]

That's something they have to look unto, they are lucky it's not a big amount and we can really tell that this kind of incident is not quite new to the crypto already, this news is bad but there's worse than this in the past so they have to continue improving their security to prevent this from happening again.

[murat131]

Too many hacks were in this year

[nicolas1979]

This is really bad and hacker make people afraid to invest/ trading in crypto world. I believe government already has cyber crime to handle this problem, we only need to make report into police station and let them work. Not easy step and maybe we only wait for nothing. Government is the only answer we have, they have resources to make safety for their citizen. Keep trying to find best method for our safety asset and never make transaction with stranger, that's not recommended at all.

[pikkie]

this can be said to be a risk when you are trading or investing in cryptocurrency and the government or police cannot help deal with this, they only help to imprisonment while these theft cases often occur and often make the cryptocurrency name worse because of many cases of hacking like this.

[Spaffin]

With high security increase then the hacking will be maintained although this has not guaranteed 100% because the hackers are always looking for a gap to penetrate the target they want, especially in the crypto world is certainly a lot of hackers who want to Hack every existing coin market, because there they can easily eliminate the track of hacking they do, in this case they can only monitor as much detail as possible in order to safeguard the assets they have.

If some information or the database of the server or computer has a permanent Internet connection, then here the chance for any character is already increasing.  The safest way to save information is something like a cold cryptocurrency vault (eg: Ledger Nano) and even in this case it is very difficult to give a 100% guarantee, because in this case a cold wallet can be stolen not by a hacker, but by someone else.  That is why a serious company has a security service that constantly monitors its systems, changes the password, access codes, and so on, to reduce the risks of hacking.

[yazher]

That's how fast hackers unanimously hide the stolen coins. This is not just some simple hacks, it took them some months or years to finalize their plan and on that day, they finally begin their mission. which will lead of course to some doubt regarding the investment in the crypto industry. This will make some newbie investors to further study the security on how to protect their crypto assets and some other to quit the crypto industry.

[VanDeinsberg12]

Why very easy for platform on crypto hacked? last month Upbit exchange market hacked with many eth in their account today we got bad news with Nuls hacker and lost about $480k worth token stolen, why not many platform in crypto upgrade their security system and make bounty bug for their exchange to make is very safety later, why always happen the same hacked in crypto.

Hopefully there is a solution for events like this, investor losses can be compensated. Hacking attempts will always be there and I hope there is an increase in security so that hacking does not continue to recur.

that comes from the nuls wallet and that means if investors are not loosing anything but the team is a part who has been getting a loss caused by this case. The developer is believing if the platform that has already created by them is perfect and that's why those developers are not updating their platforms regularly.
This is the problem when it comes to the security. The major companies spent a lot of money for the security improvements. this is a very important part.