Solana Wallet Hack " How to Protect Your Funds

[Silberman]

It's very hurting when we lose funds without making any mistakes. I never move my funds from my hardware wallet unless I want to sell my coins. Here is an investor one should have a Hardware wallet to secure its coins from hackers as I believe hardware wallets are the most secured wallets as compared to other wallets in my opinion. I must say one must have a hardware wallet if he is a holder or regular crypto trader to secure his funds. I hope soon we will come to know what is the cause of hacking and how they make it possible till then we have to wait.

Agree with you mate, this hackers are actually evolving day by day and finding ways how to become more creative about their hacking craft. No one is safe in the crypto space. But what investors can do is be more knowledgeable, be more cautious and always think ahead.

You never know if you were talking to a hacker cause they really mastered social engineering. I hope solana do more about their ecosystem. Become more safer and much more protected.

And that is the problem with hackers, they are always trying to innovate and find ways to get access to your coins and most of the time they are going to be ahead of the developers, this means that we cannot just depend on them in order to protect our coins, we need to do our homework too and if we don't then the chances that eventually we're going to lose our money are incredibly high as sooner or later we will make a mistake and our luck will run out.

[vv181]

It's very hurting when we lose funds without making any mistakes. I never move my funds from my hardware wallet unless I want to sell my coins. Here is an investor one should have a Hardware wallet to secure its coins from hackers as I believe hardware wallets are the most secured wallets as compared to other wallets in my opinion. I must say one must have a hardware wallet if he is a holder or regular crypto trader to secure his funds. I hope soon we will come to know what is the cause of hacking and how they make it possible till then we have to wait.

Agree with you mate, this hackers are actually evolving day by day and finding ways how to become more creative about their hacking craft. No one is safe in the crypto space. But what investors can do is be more knowledgeable, be more cautious and always think ahead.

You never know if you were talking to a hacker cause they really mastered social engineering. I hope solana do more about their ecosystem. Become more safer and much more protected.

And that is the problem with hackers, they are always trying to innovate and find ways to get access to your coins and most of the time they are going to be ahead of the developers, this means that we cannot just depend on them in order to protect our coins, we need to do our homework too and if we don't then the chances that eventually we're going to lose our money are incredibly high as sooner or later we will make a mistake and our luck will run out.

The important factor to prevent that is to simply use things that are fully in control of ourselves. In this case, Slope Wallet is a closed source wallet, so that is a big red flag for our belonging, specifically in cryptocurrency.

If we take a bigger look, this kind of case is indeed a tricky one since it involves an internal entity from the developer of the wallet, but generally, the way of hacking hasn't been much any innovation, we keep hearing the same way of hack gets repeated.

[GreatArkansas]

Another thing that I observed with the recent hack on some Solana platforms, especially on Solana wallets are people crying and spreading FUD about Solana like they are telling Solana got hacked or compromised.
They must know that the platforms or projects in the Solana network are the ones got issues,s not the network.

[makishart]

What makes people lose money in their wallets is not entirely blamed on the blockchain, even though the current state of Solana Blockchain is experiencing problems, sometimes people trust dapps too much that have no clear source, so they use it for certain purposes, on the other hand this is not in safe stages, so that they are caught in the scams that people do, caution is the main step that people who are here need to improve

The blockchain itself can be blamed when it doesn't perform so well. So, Decentralization will not make people waiting for so long just to send their money into the new address that already created before. I think that you must not only pay your attention to the slope but you must also remember that if solana has so many problem with its blockchain. That was also contributing a lot to the hacker to steal money.

[Bobrox]

Exchange market account I think right now the best place for saving and protect our fund, although still have several exchange get trouble with suspend account, freeze withdraw and trouble when deposit fund. I think choose with Binance as your place for saving fund as trading or try with holding coin, Not brave when saving fund on wallet network like Solana exploit and success hacked many Sol coin assets. Right now happening with Solana network and I think later will have several network become target for hacking and stolen assets, not safety when saving your fund on wallet what ever kinds is it between Polygon, Solana, Waves or ERC20 network.

[worle1bm]

Exchange market account I think right now the best place for saving and protect our fund, although still have several exchange get trouble with suspend account, freeze withdraw and trouble when deposit fund. I think choose with Binance as your place for saving fund as trading or try with holding coin, Not brave when saving fund on wallet network like Solana exploit and success hacked many Sol coin assets. Right now happening with Solana network and I think later will have several network become target for hacking and stolen assets, not safety when saving your fund on wallet what ever kinds is it between Polygon, Solana, Waves or ERC20 network.

I would say it's not at all good idea to store your coins over these exchanges if your purpose is to hold them rather then trading.The hardware wallets are the best option to keep your funds safe and under your own control while these exchange can also be hacked so don't trust them blindly.

[masterrex]

IMO, I believe that these hacking incidents are a wake-up call not just to newcomers in the industry, But to all existing crypto platforms old and new in the market. because I always believe in the saying that there's always room for improvement, so they should work better to enhance the security of their platform and avoid all of these hacking incidents to be happen again.

[Tony116]

Exchange market account I think right now the best place for saving and protect our fund, although still have several exchange get trouble with suspend account, freeze withdraw and trouble when deposit fund. I think choose with Binance as your place for saving fund as trading or try with holding coin, Not brave when saving fund on wallet network like Solana exploit and success hacked many Sol coin assets. Right now happening with Solana network and I think later will have several network become target for hacking and stolen assets, not safety when saving your fund on wallet what ever kinds is it between Polygon, Solana, Waves or ERC20 network.

The idea of storing all assets to a centralized exchange is a bad idea. I will agree with you that Binance is the leading and most trusted exchange at the moment, but the crypto market is unpredictable, anything can happen, remember the collapse of Mt.Gox in 2014, Mt.gox was also the largest exchange at that time.

Cryptocurrencies and blockchain are becoming prey for hackers, attacks are constantly on us, so we must protect ourselves. In my opinion, assets should be stored in many different wallets instead of just focusing on 1 or 2 wallets. This will avoid damage when attacked.

[panjay]

well the OP said it, use HARDWARE WALLET or else got pawned, or just use a centralized exchange so you don't think much about tech stuff and got another risk factor come up, like centralized, they can seize your asset and you still can get scam if you not careful enough.

[Silberman]

Exchange market account I think right now the best place for saving and protect our fund, although still have several exchange get trouble with suspend account, freeze withdraw and trouble when deposit fund. I think choose with Binance as your place for saving fund as trading or try with holding coin, Not brave when saving fund on wallet network like Solana exploit and success hacked many Sol coin assets. Right now happening with Solana network and I think later will have several network become target for hacking and stolen assets, not safety when saving your fund on wallet what ever kinds is it between Polygon, Solana, Waves or ERC20 network.

The idea of storing all assets to a centralized exchange is a bad idea. I will agree with you that Binance is the leading and most trusted exchange at the moment, but the crypto market is unpredictable, anything can happen, remember the collapse of Mt.Gox in 2014, Mt.gox was also the largest exchange at that time.

Cryptocurrencies and blockchain are becoming prey for hackers, attacks are constantly on us, so we must protect ourselves. In my opinion, assets should be stored in many different wallets instead of just focusing on 1 or 2 wallets. This will avoid damage when attacked.

If you are still using the very same hardware device in order to generate all of those wallets then you're not really improving your security as your coins can still be stolen as long as that hardware device is compromised, however if you have indeed several hardware wallets or several computers in which you can store your coins then you can indeed improve the security of your coins by having several wallets being generated in different devices, however most of the time this is impractical for most people which is why it's not very common.