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July 06, 2023, 08:59:18 PM
 #21

What is the most unhackable crypto platform?
Are you asking for a wallet or an exchange? Either case, there is no programming that cannot be hacked, you just have to minimize the risk by hodling your coins in a non custodial wallet or more preferable a hardware wallet. This way you are solely responsible for your coins because you alone hold the private keys to your wallet. How safe these wallets and your coins are will mostly depend on your personal security, your job is to keep your seed phrase safe.

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July 06, 2023, 09:06:39 PM
 #22

What is the most unhackable crypto platform?
Are you asking for a wallet or an exchange? Either case, there is no programming that cannot be hacked, you just have to minimize the risk by hodling your coins in a non custodial wallet or more preferable a hardware wallet. This way you are solely responsible for your coins because you alone hold the private keys to your wallet. How safe these wallets and your coins are will mostly depend on your personal security, your job is to keep your seed phrase safe.
I still share in your believe and the one of all other users coming in this thread. There is nothing that is unhackable, the difference is the effort the hackers will put in order to hack the platform. If they are going to spend nearly what they will gain if they hack the platform, is their any need in embarking in the vain mission?
Any code that is open and in the hands of the people will likely find a bug quicker than closed source, especially if many people are interested in the project.
Decentralized non custodial wallet has proven to be more secured.

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July 06, 2023, 09:48:27 PM
 #23

All systems are prone to being hacked if they don't improve their security and this is the main reason why we see maintenances and updates being done. Because the hackers are also able to follow such security measures and the only way to give them some hard time is to update systems and security updates. Also, the users part is also playing the most crucial part, let's say a platform has the strongest security but the user isn't aware on how to take care of his keys and prone to being a victim of phishing. That's also a factor why someone gets hacked and not the platform itself.

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July 07, 2023, 07:55:24 AM
 #24

I will likely say that decentralized exchange are not too porous to hackers because there is not too much concentration on retention or safe where  holders store their crypto assets or funds compared to the centralized exchange which is always a target for scammers and hackers.
Maybe got a point. But if we are talking about incident, we cant really exclude even dex or cex. Of course its much safer for dex since a lot of people focuses on cex. But if the security they have still not strong enough to prevent someone to penetrate then it still be possible. Anyway OPs question really have a tight answer anyway.

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July 07, 2023, 09:21:05 AM
 #25

What is the most unhackable crypto platform?

No exchange is immune to hacking; once hackers discover their vulnerability, they will use it against them. The more security measures put into protecting users assets, the more hackers are also investing more time in upgrading their tools.
 
The only good thing about decentralized exchanges is that your funds are not stored in them, so even if they are hacked, you will only have little to lose since you will have to disconnect your wallet from the DEX when you are done using it. It's only when your funds are still there that hacks will affect you, like what I read about Etherdelter.
 
If hackers can penetrate smart contracts and create their own token or do whatever they want with it, to what length do you think they can go? Some exchanges have stronger security than others, but that still doesn't make them immune from being hacked.

 
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July 07, 2023, 09:22:30 AM
 #26

What is the most unhackable crypto platform?
If you think there is any unhackable crypto platform you are wrong, I don't want to deceive myself and start believing that there is any 100% secured platforms, even the decentralized exchanges, the best thing you should do online is keep your assets far away from any centralized and decentralized exchanges, I know that very few DeX get hacked compare to Cex but it's still possible so instead of looking for an unhackable exchange keep your assets away from any exchange.

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July 07, 2023, 11:54:54 AM
 #27

I will likely say that decentralized exchange are not too porous to hackers because there is not too much concentration on retention or safe where  holders store their crypto assets or funds compared to the centralized exchange which is always a target for scammers and hackers.
Maybe got a point. But if we are talking about incident, we cant really exclude even dex or cex. Of course its much safer for dex since a lot of people focuses on cex. But if the security they have still not strong enough to prevent someone to penetrate then it still be possible. Anyway OPs question really have a tight answer anyway.
Very correct sir. The security features of the CEX matters too because the CEX depends on it for the safety and as such, must be highly sophisticated to protect the funds and assets of holders but dex does not really hold funds but rather they do swap one only needs to connect their wallet to do swap unlike CEX that requires retransfer out of your own custody to a third party. So in all bother are still porous but anyone dealing needs apply caution as it is said "not your keys, not your coin"


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