Is there any way to out of this insecurity?

[South Park]

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.

Once you deposit your coins to an exchange and you activate 2FA there is not much to do except what you should always be doing like surfing safely the web and not install anything suspicious on your computer or phone, once your coins are in the possession of someone else then it is the responsibility of the one holding the coins to secure them, your only option to reduce this risk is to become a position trader, position traders only perform a few trades per year, which means you could deposit your coins, make your trade and then get your coins out of the exchange, if you are fast this could take just a few minutes and it will be very unlikely for you to lose your coins during that period.

[Yamifoud]

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.

Hacking is a global market problem, in fact, not only it happens to crypto market but also in social media accounts. But could we see this a horrifying scenario? Maybe yes, but I wasn't thinking that we can put this to an end because hackers will still be making way to crack down keys just for them to succeed with their intention.

We can just minimize this but certainly can't be avoided. Besides, the hacking incident of Binance never has been expected as well and this also happens to others. What we are doing now and for these big exchanges is to thighten up their security and more vigilant with the activities.

[Oceat]

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.

You know it's not just crypto exchange's been hacked before, right? Bank accounts, social media accounts and any other kinds of accounts connected to the internet is a target for hacking. So get used to it already since you can't stop them from doing it anyway, all you have to do is to fully secure your account all the time since anytime the hacking could happen. There is no perfect or safe system, everything is vulnerable to hacking.

[Oyarebu]

Don't expect all cryptocurrency exchange to be same when it come to it security, some had the money to use while others don't. Mostly, the exchange we should be afraid of are the new cryptocurrency exchange and not some old exchange that has good reputations when talk about security. The likes of Binance and other good exchange should be embrace and use.

[bitgolden]

If we keep going on studying on different exchanges' hack events, we can easily find out some similarity and one of them is basic vulnerability to be found on crypto wallets; before devs find them those hackers exploit them for their benefits. When exchanges are keep updating their wallets, the chances for hacking will be greatly minimized. I'm just talking about what happened with  one exchange and there could be many other security breaches and these are the the actual invitation for hackers.

Another important thing about exchange hacking is, insider information. Running exchange is a big business and this is the reason the owners need to hire many people and when one of them is going corrupted for their own benefit or guided by others for some reasons, the hacking will become inevitable.

[carlfebz2]

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.

You know it's not just crypto exchange's been hacked before, right? Bank accounts, social media accounts and any other kinds of accounts connected to the internet is a target for hacking. So get used to it already since you can't stop them from doing it anyway, all you have to do is to fully secure your account all the time since anytime the hacking could happen. There is no perfect or safe system, everything is vulnerable to hacking.

You are right! Nothing is unhackable out of this world and it does exist even crypto market havent existed yet.So the best thing to be done is indeed to follow is on how to secure all of the accounts you do have.

When you do have some money on wallets then always back it up plus setting out the most secure kind of way on protecting towards hacker,once you've done this then they cant easily access it out

unless if the platform or said service had completely been breached nor take controlled.This is how thing goes into this market and its not really something new.

[wozzek23]

Don't expect all cryptocurrency exchange to be same when it come to it security, some had the money to use while others don't. Mostly, the exchange we should be afraid of are the new cryptocurrency exchange and not some old exchange that has good reputations when talk about security. The likes of Binance and other good exchange should be embrace and use.

The problem occurs with emails mainly in my opinion as people are sent lucrative offers via emails and those who are new clicks on it to go into the world of hackers where they will ask you to login and you are basically giving away your money and account to them.

The root of the problem is how the hackers are getting your email id and that is via airdrops and various other sources so just make sure the email you use for exchanges and accounts you never use the same emails for airdrops and other activities.

You need to safeguard your money and no one else is going to do it for you, so be smart and firstly, don't make your email known to hackers and if even somehow they do, make sure you check the web address thrice before putting data.

[lixer]

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.

I think a small 2-step verification can solve most of the problems and hacking will be almost neglected because like Binance asks you to verify code every time you make a withdraw so that enables either the hack to have access to your mobile or you are tricked into sending the hack the OTP via a phishing site which is not as easy as it is easy without the OTP.

Most of the exchanges have implemented and actually made mandatory to have a 2FA enabled which sometimes sounds irritating but is the need of the time we are in and since crypto can't be tracked so you cannot do anything once you have been stolen.

[DoublerHunter]

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.

You know it's not just crypto exchange's been hacked before, right? Bank accounts, social media accounts and any other kinds of accounts connected to the internet is a target for hacking. So get used to it already since you can't stop them from doing it anyway, all you have to do is to fully secure your account all the time since anytime the hacking could happen. There is no perfect or safe system, everything is vulnerable to hacking.

^ Definitely right and this is the fact.
Anything can be hackable, even good exchange can be hacked also. I saw that reply above was referring to Binance exchange but we know that they had a hacker record last year because of breaching their security system which is losing thousand of Bitcoin in different accounts. So, theoretically, there is no safe exchange at all. You are not lucky if you have been chose an exchange site that was hacked. Nevertheless, there is always a good advantage if we choose a reputable exchange than the shady one.

[maxreish]

Even the big , best and well established exchanges cannot escape in the hands of the hackers. It is a normal thing that is happening now. I remembered Binance when it was hacked before but they compensate and return the lost bitcoin of users. Given that it might harm their reputation that is why the owner took the responsibility and return the funds of those users that got affected.

The point here is that even the tightest security can be deminished.

[Wexnident]

Don't use exchanges then. And as a matter of fact, you should also stop using any type of social media, forum, hell don' t use the internet. Nothing is perfect in this world, and hacks and the like are, as much as I hate to say it, perfectly natural for exchanges and companies to experience, especially if they're just in the beginning stages. It's rather simple to actually avoid your funds getting hacked from an exchange tbh, use a hardware wallet. Stop storing coins in exchanges and you're basically safe. You're insecurity rather really just stems from you believing that crypto wouldn't last due to these setbacks, but setbacks themselves are the ones that provide development to something.

If you fully believe that crypto would die due to this, just stop using it entirely, no one is really forcing you or anything. Being hacked/scammed of your funds is basically avoidable if you put enough preventive measures, especially since you're only managing your own sole funds.

[michellee]

Even the big , best and well established exchanges cannot escape in the hands of the hackers. It is a normal thing that is happening now. I remembered Binance when it was hacked before but they compensate and return the lost bitcoin of users. Given that it might harm their reputation that is why the owner took the responsibility and return the funds of those users that got affected.

The point here is that even the tightest security can be deminished.

Yes, not just binance, but poloniex, and bittrex and the other big exchange have those experiences. The exchanges can protect their site from hackers, but they can not always secure the website, especially if hackers have high skills to break the security on the exchanges. But the exchanges need to take responsibility if they don't want to see the members leave on their site because they can not protect the site. It is hard for the exchanges, but I am sure they will do their best to protect them.

[Bitstar_coin]

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.

I think this is a growing concern in the crypto space and believe it or not it will have some negative effect when it comes to new investors coming in to the market, just like you are feeling insecure so will be new investors, their thoughts will be on the lack of security and the frequent hacks that have taken place in exchange, if you are not a trader and don't have the need to keep your funds in any exchange, you may not be bothered about it,

However, i think it has gotten to a point when this various exchange should put all hands on deck and find a lasting solution to this problem, it won't be nice to constantly face with same issue, security should be a top priority, am sure there is a way this can be resolve to reduce this attacks.

[Savemore]

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.

Exchanges out there are vulnerable to hackers even though they have really tight and high security. This is one of the factors why we should not see it as a wallet to save our coins there for a long period of time. What I deposit in my exchange is the money that I willing to risks, I deposit in my exchange there because I actively buy and sell altcoins and my goal is not to deposit there for a long period of time. For those traders out there, just choose an exchange that has high security in order to guarantee that your funds out there are safe and secured.

[Arkann]

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.

Exchanges out there are vulnerable to hackers even though they have really tight and high security. This is one of the factors why we should not see it as a wallet to save our coins there for a long period of time. What I deposit in my exchange is the money that I willing to risks, I deposit in my exchange there because I actively buy and sell altcoins and my goal is not to deposit there for a long period of time. For those traders out there, just choose an exchange that has high security in order to guarantee that your funds out there are safe and secured.

In fact, hackers are not stupid people and they can always find ways to get to your account and your cryptocurrency funds. But nevertheless, it is best not to store all your capital in the wallets of the cryptocurrency exchange, but only the part that is needed for trading. in addition, I made a choice in favor of binance, since this cryptocurrency exchange is not only the most balanced in its functionality for a trader, but also provides a good degree of protection, including confirmation of actions via SMS by phone.

[bitbunnny]

There is no absolute security, we need to be aware that. Every account and wallet can be hacked, just like any bank can be robbed.
However, exchanges and other crypto services can raise the level of security and we also need higher awarness among users to protect themselves. We need to be aware that cyber security is very important, that there are some technical measures that could be implemented and we can also protect our personal and financial data.

[Lanatsa]

There is no absolute security, we need to be aware that. Every account and wallet can be hacked, just like any bank can be robbed.
However, exchanges and other crypto services can raise the level of security and we also need higher awarness among users to protect themselves. We need to be aware that cyber security is very important, that there are some technical measures that could be implemented and we can also protect our personal and financial data.

Nothing is secure and this is why there are security measures that we can somehow able to use like on-site 2fa and other verification before it can be breached out and as a user then its part of our responsibility
to be active on setting things up since we know that we are storing our funds in.

In all cases, we should really be aware on how possibilities could happen when in talks of hacking incidents thats why just like on what others said that leaving big funds on exchanger or any platforms
is really a bad idea.

Insecurity? get used to it because these circumstances isnt really something new into this crypto world.

[Da_Primate]

It still boils down to doing your own research on any platform that would be housing your money. There are exchanges with great security and also have users fund safu.

[Kasabus]

There is no absolute security, we need to be aware that. Every account and wallet can be hacked, just like any bank can be robbed.
However, exchanges and other crypto services can raise the level of security and we also need higher awarness among users to protect themselves. We need to be aware that cyber security is very important, that there are some technical measures that could be implemented and we can also protect our personal and financial data.

Nothing is secure and this is why there are security measures that we can somehow able to use like on-site 2fa and other verification before it can be breached out and as a user then its part of our responsibility
to be active on setting things up since we know that we are storing our funds in.

In all cases, we should really be aware on how possibilities could happen when in talks of hacking incidents thats why just like on what others said that leaving big funds on exchanger or any platforms
is really a bad idea.

Insecurity? get used to it because these circumstances isnt really something new into this crypto world.

I think all things that involve money has always its scammers around no matter what we do. We should face the reality and just get used to it. This is the reason why we should always be responsible with our own accounts not to be steal by other people and always assure its security by not putting all our investments in a single exchanger.

[suzanne5223]

It still boils down to doing your own research on any platform that would be housing your money. There are exchanges with great security and also have users fund safu.

Doing research about security level of an exchange or platform you use before trusting them with your fund but online platform is ever cautious even with the said SAFU cause sooner or later human error will occur and this is the reason why people are advised to keep online the fund they can afford to loose on exchange site.
@OP, to over the issue of insecurity every crypto exchange and project owner need to think like scammer/hacker in other to provide adequate security.