Is there any way to out of this insecurity?

[beerlover]

Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.

There is really nothing major to be done except a bit more careful security in those exchanges but considering that most of them actually say that they were hacked but in reality they are probably just putting all that money into their own pocket and that is why they can never fix their security because there was no problem with the security to begin with, it was all inside job, how could you stop that.

However if its purely just security, there is really not much you can do about it but to work with great developers to make sure you get it perfected and not have any loop hole at all. Plus, you can pay people to try and hack you and see if they can, if they can't that is good, if they can they would be paid and you will fix it anyway. So basically work on it, but I doubt it will ever be fixed.

[MCobian]

We really have to get used to that in the world of cryptocurrency scams often occur. Therefore choose popular and trusted exchanges,
so when the exchanges are hacked. These exchanges are capable of returning users funds, as well as the choice of coins will be bought.
Must be able to choose coins with high volumes, so you can avoid shitcoins. Which if we buy shitcoins will difficult to sell, even some
shitcoins become deadcoins that cannot be sold at all.

[imstillthebest]

you dont need to overthink yourself  .experts are not thinking too much about this but why should you ? hacking did occur before not just minor but big hackings too starting from normal people and site to big exchanges where thousand and millions of dollars are stole but the good part is that we are still here and there are new people that are still being involved here  . there are bad impacts that will occur after hacks but it wont last and all can recover to start again

[harizen]

Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.

At least the best thing you can do is to stay away at those not popular or newly established exchanges and trading platforms to minimize the risks.

About the hacking issue in general, no way it can be avoided that's why platforms do their best to maximize their security as possible.

And no, I don't see this will bring a negative impact in cryptocurrency. Good thing, there are now lots of reputable and big crypto exchanges today that will erased all doubts that crypto is not safe.

Trust the process mate.

[thesmallgod]

Exchanges can only do everything to minimize the risk of being hacked. This is the reason many of them source for the very best security measure coupled with constant security auditing. Individual account being hacked depends on the owners and this is also part of the reason why it is encouraged not to store information about your online exchange account where it can be public be access by the third party. They say security is an illusion. Exchange can't totally secure everything

[YOSHIE]

share your ideas on what can be done to overcome this situation.

feeling uncomfortable there really is always haunting for many internet users, especially those that have to do with exchanges, social accounts, etc.

With the rampant hacking that has happened so far, on the contrary makes someone more careful in doing things related to assets.

If anxiety / discomfort keeps happening and terrorizes you, in the world of crypto all you have to do is;

• "Look for an exchange platform that has kYc with high level of security process by process".
• "Make your account password as complicated as possible with very complicated characters. You yourself don't remember and memorize them, and write it on one paper and keep it at home, never store it on a laptop or Android phone ".
• "Never publicly reset your password or account name, unless there is an official change from the exchange and social accounts".

[TGD]

Exchanges can only do everything to minimize the risk of being hacked. This is the reason many of them source for the very best security measure coupled with constant security auditing. Individual account being hacked depends on the owners and this is also part of the reason why it is encouraged not to store information about your online exchange account where it can be public be access by the third party. They say security is an illusion. Exchange can't totally secure everything

The reason why exchange are easy to hacked because it is not regulated and they have no sense of responsibility to refund user fund in case there exchange was hack. It is so easy to start a exchange business because there owner are not focusing that much on security.

If we compared stock market and crypto exchange. Stock market is too hard to hack because it has a strong security due to most people are using it. On the other hand the crypto exchange which the owner has no liability in case funds was hacked. They can easily hire a hacker to hack there exchange then run away the money without tracing it. This is the reality of the exchange business on crypto. So it's better to not hold funds there for a long period of time.

[TheUltraElite]

Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity?

Whats your concern anyway if someone else's account gets hacked? If you are still following social media channels of popular people then you just need to grow some proper logic as to not believing everything that is said on the internet. If someone is offering you doubling then it is a scam wheoever it might be. Follow that attitude and you will be safe. In the meantime secure your own accounts and put up strong passwords one for each account and turn on 2FA where available.

Now if you still get greedy and send money to some "pandemic fund" then you are at a loss. Trust nobody here, unless you know whom you are sending money in real life.

Exchange getting hacked, the way to save your money is to not keep coins stored there after trading is over. Of course this cannot be applied to open orders that have not been filled yet but that is the risk that you have to take for now.

I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.

Banks get robbed. Do they lose popularity? No they gain back their reputation with even stronger security. Bad people are there in the world but that does not mean that the innovations are going to stop. Humans need to be careful what they are doing.

[glowing10]

Some of the simple things atleast from our side what we can do is that only use the exchanges which ahs a good reputation and which is also old. Secondly, we can store it in ledger rather than string it online unless you want to sell it immediately. Thirdly in crypto risks always exists it can be either of hacking or due to volatility the prices could be falling. So, for people with weak heart or cannot take such risks ideally should stay away if possible.

[AniviaBtc]

That's the importance of conducting some research first before accessing it or observing first the platform that you are using.

Crypto related websites, exchanges, or wallets, are really prone to those hackers because it involves money and assets, but you should also consider that they have their own level of security so that they can maintain their good reputation towards those cryptocurrency users. They are working on it so that those insecurities of other people, not only you, should be lessen and those popular exchanges or platforms are really doing their best for its customers to become comfortable while accessing a crypto related programs.

[aioc]

Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.

These are exchanges and sites that has a weak security and do not allocate funds and hire the best security experts, we should not trust these kind of sites and exchanges, if they cannot keep up then they better ship out, they do not have business operating in an industry where there are so many hackers roaming around.

[BitcoinTurk]

Is there any way to out of this insecurity?

 
I think the only way to protect you from the unsafe situation you mentioned is using a cold wallet. In addition to using cold wallets, you can protect your electronic devices with special antivirus software and feel a little more secure and realize that you are really safer compared to other users. On the other hand, the services you mentioned are obliged to ensure their own security and you cannot do anything for the security measures of these services. The only thing you can do here is not to use the services you don't trust.

[Sebas.tian]

Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.

This depends on the cryptocurrency exchange, some exchanges are the cause of their hacks, sometimes some of these hacks are been investigated and traced to internal involvement which we can wholeheartedly said they are the architect of their misfortune. Good cryptocurrency exchange can't be a threat because of their investment in their security shields against any hacks. When choosing your cryptocurrency exchange, ensure to put security first before making your coins deposits.

[bhadz]

Over the past few years, I have been horrified by the way accounts of various exchanges and crypto-related websites and individuals have been hacked by hackers. Is there any way to out of this insecurity? I think cryptocurrency will lose popularity if it continues like this, share your ideas on what can be done to overcome this situation.

Crypto won't lose its popularity just because of it. Because there are more severe cases with the bank online thefts yet people are still using the banks so that can be the comparison that I can give. And for your security, make sure that you are not keeping a big amount on exchanges.
Turn on the 2FA for better security, 2fa with google app or authy or through your email or sms.

[Lucius]

1. Only leave the minimum amount of money you need for trading on exchanges.
2. Withdraw frequently.

That would be an ideal solution, but a large percentage of crypto users are not at all familiar with the concept of desktop/mobile/hardware wallets and keep everything they have online. On the other hand, those who would practice your advice would have a rather big problem if they would often withdraw their funds due to rather high fees when it comes to BTC.

In fact, it's about controlling the risk as much as possible, and making you aware at all times that the funds you have on the crypto exchange can be hacked, your account frozen or shut down at any time. Those who do not want to live with such a risk choose a much safer method to simply keep their coins in non-custodial wallets and profit from price increases over a longer period of time.

[LbtalkL]

I was thinking different until I read the whole message "insecurity" = uncertainty or anxiety about oneself; lack of confidence. But I guess what you mean is to have better security and privacy on our accounts on exchanges. Hacked is something we cannot stop hackers always find a hole or bug to penetrate, but of course we can prevent it if the exchange have tight security. If indivual accounts, most likely it is a user base attack maybe a phishing or something, but the bad thing is if the hacker hack the exchange but some exchange has insurance like binance and cover any losses.

[mk4]

On the other hand, those who would practice your advice would have a rather big problem if they would often withdraw their funds due to rather high fees when it comes to BTC.

Unfortunately it's their only option if it's the case that they do trading with a significant bankroll. Especially those who trade high-liquidity pairs like BTC:USDT on spot exchanges without leverage. It's not like they're trading 24 hours a day though, so a lot of them probably wouldn't mind slow transactions for their non-trading hours.

[traderethereum]

As long as the exchanges can protect their site from hackers, we don't have to worry about anything.
I am sure the exchanges, especially the big exchanges, will try to secure their site and be aware of the hacker attack.
If you still worry, you don't have to join the exchanges, but you can use another way to trade.
But I am sure that the cryptocurrency will not lose popularity because of that problem because people will have another exchange to trade, and they will not back to that exchange.
People have many good exchanges that they can use to trade, so they don't have to worry about hackers.

[sujonali1819]

As long as the crypto exchange will remain in the internet hackers will try to hack them. And they become successful sometimes for the poor security. If we don't make secure ourself we continuously will victims of these hacks. So what should we do. Use always most trusted/secured exchanges. Again don't hold your capital in any exchange. Exchange only for trading not for holdings your money. So avoid doing it and always hold your capital in an external wallet.

[sheenshane]

That's the reason why we do our own diligence upon choosing a good exchange. Hackers will never stop chasing to scam exchange as long as they know they can get profit on it. Once there's an exchange that weak security measures, hackers will take advantage that might be causing security breaches.
Always prefer to the good exchange and have multiple security features and funds should be safe like Binance exchange that has a Secure Asset Fund for Users or (SAFU).

The most important thing is don't leave your money in exchange. Pull out when you have done in trading. There's no way to trust them to hold our fund for long term purposes.