Vulnerabilities in gambling websites in past

[Silberman]

Sadly the reality is even worse than that, everything can be hacked, it does not matter how complex is the protection of a piece of software or a website, hackers can always find a way to hack it with enough time, this is why opening up a casino is such an expensive business as not only you need a lot of capital to begin with but a great deal of the money will always go towards securing your website, because the moment you stop investing in this is when hackers will have all the time in the world to exploit the casino.

^ The only solution for this is don't leave any amount of money of gambling casino, if you don't want to gamble in that day, just pull out all of them or else, never store your valuable assets in the casino. Especially those casinos that have been hacked before, there is a possibility that they will hack again due to their lack of securities. That is exactly the truth, when it comes to the internet, everything could be vulnerable and no one is exempted regarding that matter.

While this is the correct thing to do you will be surprised by how cheap some people can be, because they do not want to pay the fees needed to get their coins out and then the fees necessary to get their money into the casino again, as such they decide to leave their money in the casino thinking nothing bad can happen, but unfortunately hackers are everywhere so casinos and exchanges are a big target for them, which is why despite the best efforts of casinos they still get hacked from time to time and some clients get affected by it.

[1714924561]

1714924561

[usekevin]

Sadly the reality is even worse than that, everything can be hacked, it does not matter how complex is the protection of a piece of software or a website, hackers can always find a way to hack it with enough time, this is why opening up a casino is such an expensive business as not only you need a lot of capital to begin with but a great deal of the money will always go towards securing your website, because the moment you stop investing in this is when hackers will have all the time in the world to exploit the casino.

^ The only solution for this is don't leave any amount of money of gambling casino, if you don't want to gamble in that day, just pull out all of them or else, never store your valuable assets in the casino. Especially those casinos that have been hacked before, there is a possibility that they will hack again due to their lack of securities. That is exactly the truth, when it comes to the internet, everything could be vulnerable and no one is exempted regarding that matter.

While this is the correct thing to do you will be surprised by how cheap some people can be, because they do not want to pay the fees needed to get their coins out and then the fees necessary to get their money into the casino again, as such they decide to leave their money in the casino thinking nothing bad can happen, but unfortunately hackers are everywhere so casinos and exchanges are a big target for them, which is why despite the best efforts of casinos they still get hacked from time to time and some clients get affected by it.

In all sites we need to pay some fees.The exchange and website was running with our fee.But after winning of huge money from the gambling some cheap people are not ready to pay a minimum fees to the website. They will be huge greedy on money.But they have to realized that, all the exchange will be closed without fee.And hackers part is different, they try to stole huge funds in exchange. Even in gambling sites, their ultimate option to get a money and they don't care anything emotional. So we should highly secured on the Security of wallets.

[Ryker1]

snip

It is not advisable to leave their money in the casino because we don't know what can happen, but some people still keep their money there. Maybe if the amount is not big, it will be fine, but it can be a risk for us if it is big. But we can hope the casino will guard its site against hacking and always monitor it for possible attacks from hackers. It's even possible that gambling sites can make some bug finder for anyone who finds a bug on their site so that the casino can reward those who find it.

Well perhaps leaving your crypto on a gambling casino wallet is still good for a short period of time like a day or weeks, beyond that --that is too risky.
Because it will perhaps the fees will consume all your balance if after a session per day you will withdraw your crypto asset on the gambling casino because you obsess about the hack or losing your fund. But for me, as long as the gambling casino did not have a serious complaint regarding the financial system it is good to leave money and all of this were depend on their reputation.

[pinggoki]

Well said mate there have been a lot of vulnerabilities in so many gambling sites in the past and a good number of them could not survive the attacks and are forced to close down or pack up, both to aid further discussion on the subject of vulnerability we need to narrow it down to a particularly vulnerable aspect, e.g hack, scam and exit game this all mean different things but link to one thing which is a vulnerability in gambling.

The problem with hacks is that it's evolving together with the improvement of the security because some hackers aren't malicious, they just want to improve the security because there's going to be a fault in there eventually and thus they end up trying to improve it in advance so it's a never ending chase with hacks unlike scams that can easily be solved if people just think twice.

[ipanks]

snip

Yes, it can reduce the risk if we don't save a lot of money at the casino so we don't have to deposit again just to play. The fees for transactions always fluctuate depending on the network and if we can minimize deliveries to the casino, it will also reduce transaction costs. Usually, I deposit some funds to the casino once a few days or once a week to help me play right away and don't have to deposit funds several times.

[Silberman]

Well said mate there have been a lot of vulnerabilities in so many gambling sites in the past and a good number of them could not survive the attacks and are forced to close down or pack up, both to aid further discussion on the subject of vulnerability we need to narrow it down to a particularly vulnerable aspect, e.g hack, scam and exit game this all mean different things but link to one thing which is a vulnerability in gambling.

The problem with hacks is that it's evolving together with the improvement of the security because some hackers aren't malicious, they just want to improve the security because there's going to be a fault in there eventually and thus they end up trying to improve it in advance so it's a never ending chase with hacks unlike scams that can easily be solved if people just think twice.

What happens is that code is always evolving and when a new update is ready the developers most of the time do not have the time to check the code for every single way in which the hackers could try to get access to their systems, so when they release it to the pubic it is nowhere near being bug free, and some of the bugs are so devastating that they can cause a lot of trouble if they happen to be discovered by someone with bad intentions.

[mindrust]

What was the total number of exploits and which ones were the lethal ones, I think that hufflepuff guy on primedice did the most damage.
The exploit was called something like "Race time condition" and I read something similar in my CS class but it was related to a banking system so it could be different.

hufflepuff lol. I remember this guy. I don't have any proof or whatsoever but I remember I was reading lots of stuff about him being a made up account by the casino so they could make a name for themselves. Like I said maybe he was genuine but I wouldn't be surprised if that was a fake event just to gather people's attention. Big casino lost millions of dollars to a random hillbilly is always big news.

[khaled0111]

Well perhaps leaving your crypto on a gambling casino wallet is still good for a short period of time like a day or weeks, beyond that --that is too risky.

The problem here is that you don't know when a hack will happen. So, it doesn't really matter for how long you leave your cryptos on the casino. But, surely, the shorter the less risky! (not your keys not your money).
The good thing, though, is that the money used for gambling is supposed to be a money you can afford to lose and you are supposed to be aware of the risks involved.
On the other hand, I believe securing customers funds is mainly the responsibility of the casino. The least they can do is to have a hot/cold wallet setup. This way even if they get hacked most funds will remain safe and it won't result in their bankruptcy.
 

[coin-investor]

The problem here is that you don't know when a hack will happen. So, it doesn't really matter for how long you leave your cryptos on the casino. But, surely, the shorter the less risky! (not your keys not your money).

You must always assume that when playing in your casino, any violation of their TOS will get you in trouble of course if you happens to play in a scam casino you are surely going to lose your money

The goud thing, though, is that the money used for gambling is supposed to be a money you can afford to lose and you are supposed to be aware of the risks involved.

The most important thing is you enjoy the game and you have a good feeling after the game win or lose because this is what casinos are offering to their players

On the other hand, I believe securing customers funds is mainly the responsibility of the casino. The least they can do is to have a hot/cold wallet setup. This way even if they get hacked most funds will remain safe and it won't result in their bankruptcy.

They will lose loyal players if they cannot secure the funds of their players, there's a lot of risk playing but players can play comfortably knowing if they won they will get the money.

[Fivestar4everMVP]

Here's some similar scenario but this one only talks about 35 BTC.
https://bitcointalk.org/index.php?topic=1340581.0

It was on Rollin.io which is already dead or down as of this moment.Nothing on this world is unhackable no matter how tough the security would be.

But in the case of the casino, once it's hacked that's the end of that casino, only big casinos offer refunds or protect their player's money compared to exchanges where they can do a refund and insured their trader's money, I don't think there's the same guarantee that they can offer that they will do a refund.

Well, it all depends mate, if a really big casino is hacked, what it really need is decision, if they decide to go on or continue, they can still put their shit together and continue, they will at last strive and survive, it is the same with exchanges, even smaller exchanges don't survive when they get hacked, if you've been in this space long enough, you should know cryptopia, cryptopia was my most favorite exchange back then, I lost a lot of money on that exchange when they got hacked, though they claim to have refunded customers, I filled the form but never heard or received anything from them.

Exchanges are bigger and a more serious business than casinos, and I think this is why casinos don't survive after they are hacked, but like I've said before, it boils down to decision, and one of the factors that influence the decision is the impact of the hack, how big or small it is.
And one other thing I will like to add is that, when big exchanges get hacked and they decide to quit, they have more to loose than a big casino getting hacked and deciding to quit, building a big exchange is a tedious task and process compared to casino, this is why it is very hard for exchanges to give up easily because they loose more when they quit due to hack.

[rhomelmabini]

The problem here is that you don't know when a hack will happen. So, it doesn't really matter for how long you leave your cryptos on the casino. But, surely, the shorter the less risky! (not your keys not your money).

You must always assume that when playing in your casino, any violation of their TOS will get you in trouble of course if you happens to play in a scam casino you are surely going to lose your money

You should always have to assume such things and other risks. These days it's hard to discern what a scam casino is so sticking around to old ones are the best course to do instead of changing from time to time or relying on these new casinos, most of new ones are an outright scam.

[Wexnident]

There was one thread here, probably a year ago can't really remember where one user reported his funds being locked due to exploiting something, when in reality what happened was that he indeed exploited something BUT the funds that were locked didn't exactly come from the exploit. Instead, the money he got from that exploit was used to play on something else, and he got really lucky, and he won a pretty sizeable amount iirc. The issue was resolved peacefully afaik, but I can't remember what the site was. The game was slots I think? My memory is failing me lmao.

The goud thing, though, is that the money used for gambling is supposed to be a money you can afford to lose and you are supposed to be aware of the risks involved.
On the other hand, I believe securing customers funds is mainly the responsibility of the casino. The least they can do is to have a hot/cold wallet setup. This way even if they get hacked most funds will remain safe and it won't result in their bankruptcy.

Still leaves a bad taste in one's mouth though. In any case, getting hacked always does that. Whether it's a big casino or us personally, just that in case of a third party holding our funds, we technically have someone to blame though afaik, most TOS indicates that they probably hold no responsibility for hacked funds, especially if the hack came from the user side themselves and not through their system.

[traderethereum]

Well perhaps leaving your crypto on a gambling casino wallet is still good for a short period of time like a day or weeks, beyond that --that is too risky.

The problem here is that you don't know when a hack will happen. So, it doesn't really matter for how long you leave your cryptos on the casino. But, surely, the shorter the less risky! (not your keys not your money).
The goud thing, though, is that the money used for gambling is supposed to be a money you can afford to lose and you are supposed to be aware of the risks involved.
On the other hand, I believe securing customers funds is mainly the responsibility of the casino. The least they can do is to have a hot/cold wallet setup. This way even if they get hacked most funds will remain safe and it won't result in their bankruptcy.
 

If the money we have in the casino is not too big, then maybe it will be felt by us but some gamblers leave a lot of money on the gambling table because they think to use that money to gamble at another time.
And when a hack occurs, their money can be lost to be taken by that hacker but if the casino has the money stored in a safe place, it will not be a concern for them because their money is still safe.
Yes, it would be better if we only use the money we can afford to lose, regardless of whether it's a hacker problem or losing because of that money we use to gamble.
So having a cold wallet for a casino is recommended because that can prevent hacking that can happen anytime.

[PX-Z]

So having a cold wallet for a casino is recommended because that can prevent hacking that can happen anytime.

Cold wallets has nothing to do for security of the gambling website to prevent the hacking.

If you mean it's used to minimize the damage of lost funds taken when a hack happens, then it's reasonable.

In any way, gambling websites should have the same security feature of what exchanges do, it may be a matter of # of funds stored in its hot wallet but it is still a fund to run the business and should be considered in high level of security.

[goldkingcoiner]

So having a cold wallet for a casino is recommended because that can prevent hacking that can happen anytime.

Cold wallets has nothing to do for security of the gambling website to prevent the hacking.

If you mean it's used to minimize the damage of lost funds taken when a hack happens, then it's reasonable.

In any way, gambling websites should have the same security feature of what exchanges do, it may be a matter of # of funds stored in its hot wallet but it is still a fund to run the business and should be considered in high level of security.

It really does not matter whether the website is for gambling or its a crypto exchange. Any site that you transfer your coins to is a decentralised place that now has full control over your funds. And doing KYC or whatever might protect you from a legal standpoint, in some cases, however in a practical sense, your coins are out of your hands. Not your keys not your coins.

What we need is a gambling site which is as decentralised as possible and which does not store funds.

[PX-Z]

What we need is a gambling site which is as decentralised as possible and which does not store funds.

This idea is only good for the business, yes its somewhat secure the funds, but not a customer-friendly. If this is executed by a smart contract imagine you need to pay fee for transaction or gas everytime you bet from your wallet. This is not reasonable and no users will last not unless the fee is too small that it cannot affect enough your wallet balance.
Since bitcoin doesnt have smart contract that works like that then the gambling site will only work using its token? Nah, I don't think it can gather lots of users here though. You cab call it a revolutionary or secured, but nevermind.

[Johnyz]

So having a cold wallet for a casino is recommended because that can prevent hacking that can happen anytime.

Cold wallets has nothing to do for security of the gambling website to prevent the hacking.

If you mean it's used to minimize the damage of lost funds taken when a hack happens, then it's reasonable.

In any way, gambling websites should have the same security feature of what exchanges do, it may be a matter of # of funds stored in its hot wallet but it is still a fund to run the business and should be considered in high level of security.

Cold wallet is just a back-up plan and it can’t really prevent hackers, better to improve the whole system and increase the security on every account to avoid any big losses in the future.

I believe on exchanges security are doing great but I think gambling site can so better than them since there’s also a big money in gambling, they should invest more on their security so gamblers will have a peace of mind trusting that specific site.

[DoublerHunter]

What we need is a gambling site which is as decentralised as possible and which does not store funds.

This idea is only good for the business, yes its somewhat secure the funds, but not a customer-friendly. If this is executed by a smart contract imagine you need to pay fee for transaction or gas everytime you bet from your wallet. This is not reasonable and no users will last not unless the fee is too small that it cannot affect enough your wallet balance.
Since bitcoin doesnt have smart contract that works like that then the gambling site will only work using its token? Nah, I don't think it can gather lots of users here though. You cab call it a revolutionary or secured, but nevermind.

^ Nah, I will disagree also with the comment above that gambling casino is decentralized and need to bind your smart contracts which kill you from massive fees. We should be thankful that there are some gambling casinos willing to cover the fees when their user withdraw the fund how much more if we are going to pay the transaction fee which is very expensive or let's say a dynamic fee process. So, this is impossible to happen in a decentralized gambling casino. Nevertheless, by now, we should pick a trusted one and have strong security support if we are worried about getting hacked.

[Fatunad]

So having a cold wallet for a casino is recommended because that can prevent hacking that can happen anytime.

Cold wallets has nothing to do for security of the gambling website to prevent the hacking.

If you mean it's used to minimize the damage of lost funds taken when a hack happens, then it's reasonable.

In any way, gambling websites should have the same security feature of what exchanges do, it may be a matter of # of funds stored in its hot wallet but it is still a fund to run the business and should be considered in high level of security.

Cold wallet is just a back-up plan and it can’t really prevent hackers, better to improve the whole system and increase the security on every account to avoid any big losses in the future.

I believe on exchanges security are doing great but I think gambling site can so better than them since there’s also a big money in gambling, they should invest more on their security so gamblers will have a peace of mind trusting that specific site.

There are still gambling sites who do only refill out their hotwallets if needed and most of the funds been accumulated or stored would be on their cold wallets yet its true that
gambling sites and exchangers are really that like honeypots for hackers yet this one involves millions of dollars which they could possibly stole.So far there were no huge breach
or exploits happen on gambling sites but we've seen some in the past which do proves out that its possible to be done and having those losses.So only
deposit on the amount which you can afford to lose as a user.

[goldkingcoiner]

What we need is a gambling site which is as decentralised as possible and which does not store funds.

This idea is only good for the business, yes its somewhat secure the funds, but not a customer-friendly. If this is executed by a smart contract imagine you need to pay fee for transaction or gas everytime you bet from your wallet. This is not reasonable and no users will last not unless the fee is too small that it cannot affect enough your wallet balance.
Since bitcoin doesnt have smart contract that works like that then the gambling site will only work using its token? Nah, I don't think it can gather lots of users here though. You cab call it a revolutionary or secured, but nevermind.

Well, if you consider smart contracts and cryptocurrencies of blockchains like for example, the Binance Smart Chain, then you pay mere cents for each bet. That does not sound like a lot to me? So you pay 14 cents and you bet instead of 1 USD, 86 cents. if you want. Seems fair. Even for the poorest among us, that kind of gambling should be affordable. Most bet at least 10 USD so the 14 cent fee won't even be noticable.

Perhaps there can be some sort of bonus system to even out the fees?