Security measures in casinos are better than exchanges!

[Bitcoin Smith]

We heard that data breaches and hacks in the crypto currency exchanges are more often and almost every exchange faced that but when it comes to casinos they're actually better in that isn't it cause I don't see any casino's got hacked like exchange which means the casinos are having better security standards when it comes to protecting the data and funds.

If that so then how is it possible for the casino why not by the exchanges.

Your thoughts!!!

[Oshosondy]

If that so then how is it possible for the casino why not by the exchanges.

I do not think that gambling sites security is higher than those of exchanges, but just that exchanges have higher amount of money that attract hackers.

Be it exchanges or gambling sites, any coins that you want to hold or save, do not leave it on any centralized site. The money that you want to use for trading should only be left on exchanges. Also only the money that you are using to gamble should be left on your gambling site account.

[Casdinyard]

That's a massive misinformation brother. Hackings on casinos happen every other day in here too. I'd argue that it happens as much as exchange cause hell, there's nothing that's different about these two anyway when it comes to security features. The thing is that since centralized exchanges are on a keen eye given the fact that news outlets within crypto and out are looking at its whatabouts, you'd get more news about hackings in centralized exchanges compared to casinos.

They offer the same thing, KYC, 2FA, the works. It's all just about the sensationalization of the media that's targeted towards these centralized exchanges. nothing more, nothing less.

[swogerino]

I think that exchange owners are more greedy as for me the majority of those hacks and breaches are inside jobs.Nowadays if a site is designed with security in mind it is very difficult for the hackers to get in.Also casinos have little to medium money to hot wallets and most of the money they keep it in separate cold wallets,a practice which should be also done by those exchanges.I don't think the security is better in casinos or exchanges,it is just that exchanges when they reach a certain level they create those breaches as exit scams,only true ones like Binance keep going.

[Westinhome]

That's a massive misinformation brother. Hackings on casinos happen every other day in here too. I'd argue that it happens as much as exchange cause hell, there's nothing that's different about these two anyway when it comes to security features. The thing is that since centralized exchanges are on a keen eye given the fact that news outlets within crypto and out are looking at its whatabouts, you'd get more news about hackings in centralized exchanges compared to casinos.

They offer the same thing, KYC, 2FA, the works. It's all just about the sensationalization of the media that's targeted towards these centralized exchanges. nothing more, nothing less.

Hacking is not only common one to the exchanges,it may occur in the exchange in large number.But the hacking will be targeted in the casino website with the account holding high price amount.Mostly after the big price amount the same will be reflected in the social media by the gambler or by the website.So the hacker start to track the account of the gambler.Now casino also provides all the security measures and giving KYC as mandatory and enable the 2FA as like the exchanges.The casino is secure as like exchanges now.

[mirakal]

I don’t believe this because as what I’ve noticed, there are also some hacking incidents on gambling sites wherein not only they stole money but also the personal information of the gamblers as well, or they hack some online casinos just to make the games rigged. However, it’s also undeniable that hacking in centralized exchanges is high simply because there is huge money in exchanges. That’s why be cautious not to put all your hard-earned money in exchanges, as they can be very unsafe for fiat or crypto deposits especially on unsecured centralized exchanges.

[Casdinyard]

That's a massive misinformation brother. Hackings on casinos happen every other day in here too. I'd argue that it happens as much as exchange cause hell, there's nothing that's different about these two anyway when it comes to security features. The thing is that since centralized exchanges are on a keen eye given the fact that news outlets within crypto and out are looking at its whatabouts, you'd get more news about hackings in centralized exchanges compared to casinos.

They offer the same thing, KYC, 2FA, the works. It's all just about the sensationalization of the media that's targeted towards these centralized exchanges. nothing more, nothing less.

Hacking is not only common one to the exchanges,it may occur in the exchange in large number.But the hacking will be targeted in the casino website with the account holding high price amount.Mostly after the big price amount the same will be reflected in the social media by the gambler or by the website.So the hacker start to track the account of the gambler.Now casino also provides all the security measures and giving KYC as mandatory and enable the 2FA as like the exchanges.The casino is secure as like exchanges now.

That's what I've been saying, you literally just paraphrased it lol.

I don’t believe this because as what I’ve noticed, there are also some hacking incidents on gambling sites wherein not only they stole money but also the personal information of the gamblers as well, or they hack some online casinos just to make the games rigged. However, it’s also undeniable that hacking in centralized exchanges is high simply because there is huge money in exchanges. That’s why be cautious not to put all your hard-earned money in exchanges, as they can be very unsafe for fiat or crypto deposits especially on unsecured centralized exchanges.

It's happening all the time, arguably at the same rate that it happens in regular exchanges. The thing is that people are just not that fond of hearing about exchanges losing millions of dollars in 10 minutes due to hacking than a couple thousands of accounts from different gambling sites losing all their funds through a hacker attack. It's literally just easier to fetch data and scoop about exchanges than it is to gather news about gambling sites crashing due to hackers.

It's not a matter of what's more secure and what's not. It's all about which one's going to make more clicks in the long run at this point. And since exchanges are a hot topic in crypto right now, they are getting the brunt of the work.

[Bananington]

You shouldn't even be comparing casino security measures vs exchanges security measures, in the first place.
They both have their own threats and risk they are prone to and that is where they strengthen accordingly.
A casino may be bothered by hackers or scammers, but am quite sure it would be harder to bother much bearing in mind the physical nature of their modus operandi. They may be more concerned with theft, vandalism. For hackers they got these days too and the best is who they hire.
It is not same as an online exchange that one might find it hard to track down the individual, mostly in the decentralized network. The security measures will be more strict inorder to dicepher bugs, AI , human, hackers.

[Oilacris]

We heard that data breaches and hacks in the crypto currency exchanges are more often and almost every exchange faced that but when it comes to casinos they're actually better in that isn't it cause I don't see any casino's got hacked like exchange which means the casinos are having better security standards when it comes to protecting the data and funds.

If that so then how is it possible for the casino why not by the exchanges.

Your thoughts!!!

There's no proof into that but in speaking about the difference between exchange and gambling sites then when it comes to technicality or scope of its service then we could really tell that exchanges is

more that technical or more complicated in regarding transfers and we cant really be able to deny in speaking about the volume that  goes in and goes out and having that tons of payment methods and other services that had been attached which simply shows that the higher the number the more possible chances of things to be exploited and since casinos are only focusing on one thing which is on the
security of their site and there would be no breaches. Im aint saying that exchangers doesnt have but since to those lots of possible holes then maintaining could really be a pain in the ass.

Comparing the number of exchange hacks and casinos then there's really those differences but come to think that if im a hacker then i would definitely be targeting exchange
platforms knowing on how many millions been circulating on this platform rather than on a gambling site. Right?  

[Cantsay]

We heard that data breaches and hacks in the crypto currency exchanges are more often and almost every exchange faced that but when it comes to casinos they're actually better in that isn't it cause I don't see any casino's got hacked like exchange which means the casinos are having better security standards when it comes to protecting the data and funds.

If that so then how is it possible for the casino why not by the exchanges.

Your thoughts!!!

If you frequent the reputation and scam accusation board you’ll see so many threads of users complaint that their account was somehow compromised and they don’t know how an unusual activity (like their money being withdrawn) happened in their account with out them knowing and sometimes they even blame it on the casino for not being able to protect their system properly.

But in the case of information leakage in a casino, I haven’t really read any threads here about it but I have for that of exchanges, but that doesn’t mean that they are totally secure from hacks and it can happen at anytime.

[Baofeng]

We heard that data breaches and hacks in the crypto currency exchanges are more often and almost every exchange faced that but when it comes to casinos they're actually better in that isn't it cause I don't see any casino's got hacked like exchange which means the casinos are having better security standards when it comes to protecting the data and funds.

If that so then how is it possible for the casino why not by the exchanges.

Your thoughts!!!

Maybe it's not about security though, it's about how much money crypto exchanges has at a certain time as compare to crypto based casinos. And for obvious reasons, and even if there are like thousands of gamblers around at a certain period in a casinos, I doubt think it can beat the numbers of crypto traders in a given hour or even in a minute.

And that is why exchanges are a target for this criminals, as it can house a millions to billions of dollars and most likely they have security lapses that this criminals studied and explored.

[klidex]

I don't think there is any comparison but for me both have the same level of security as strong it's just that hackers target exchanges because the possible amount of money on those platforms is different.
As some people have said here, if we don't know for sure whether gambling has never been hacked or the personal data of its customers has been leaked, because this is all online, we will not know the truth, it could be that gambling has experienced this, it just hidden from the public.
Actually, if you look at it as a whole, it a little difficult to compare the security levels of these two parties, but in my view, both have the same level of security and gambling owners and exchange owners always improve the security of their sites, it doesn't mean that one of the two parties doesn't do anything to improve security.

[DoublerHunter]

~snip~

Maybe it's not about security though, it's about how much money crypto exchanges has at a certain time as compare to crypto based casinos. And for obvious reasons, and even if there are like thousands of gamblers around at a certain period in a casinos, I doubt think it can beat the numbers of crypto traders in a given hour or even in a minute.

^ This!
First, the number of users plus the amount being held and that is the reason why gambling often hack more than exchange.
Because the potential financial gain for hackers in breaching a cryptocurrency exchange can be immense due to the large sums of cryptocurrency held and traded on these platforms in exchange. Plus another reason could be, that crypto exchanges handle a massive number of transactions within short periods, potentially creating more opportunities for hackers to exploit vulnerabilities. Probably that was a reason and I think it is not all about security.

[pawel7777]

We heard that data breaches and hacks in the crypto currency exchanges are more often and almost every exchange faced that but when it comes to casinos they're actually better in that isn't it cause I don't see any casino's got hacked like exchange which means the casinos are having better security standards when it comes to protecting the data and funds.

If that so then how is it possible for the casino why not by the exchanges.

Your thoughts!!!

Many, if not most of the casinos used online are operated from exotic jurisdiction and often unlicensed and unregulated in the countries they provided their services in. Which means, that if something goes wrong, they wouldn't care to inform their customers to not scare them away.
Big exchanges are mostly regulated (one way or another) and have to follow much stricter requirements, including keeping the customers informed of any breaches.
Also, the top exchanges are much larger than casinos, so any hack of the exchange is much more "newsworthy" than of the casino that most people haven't heard about.

[dothebeats]

I'm pretty sure that exchanges are far more capable in deflecting hacks and attacks on their systems. It's just that they have more money in them hence why they're being targeted more. Gambling platforms are also heavily beefed up when it comes to security, but their volume is smaller compared to exchanges that are moving and facilitating millions of dollars every single day. If your platform is doing that, might as well improve security in every way possible.

[flipme]

Your thoughts!!!

Since casinos have fewer users than cryptocurrency exchanges, some transactions may go through manual confirmation. Therefore, casinos may be less likely to be hacked. Also, if a cryptocurrency exchange is hacked, we all hear about it, but if a casino is hacked, it's not even newsworthy. I don't think casinos are more secure than cryptocurrency exchanges. But, fundamentally, both are not secure because both are centralized systems. Never trust them too much.

[blockman]

We heard that data breaches and hacks in the crypto currency exchanges are more often and almost every exchange faced that but when it comes to casinos they're actually better in that isn't it cause I don't see any casino's got hacked like exchange which means the casinos are having better security standards when it comes to protecting the data and funds.

That only means that most casinos are investing in their security or have people that are working hard to protect their systems and operations 24/7. While for the exchanges, they're probably just doing the same thing but it's that they're more targeted by the hackers and that's why they're inventing and discovering more ways to abuse a little hole that they see and attacks it through it.

If that so then how is it possible for the casino why not by the exchanges.

Your thoughts!!!

Another thing is that, when these hackers do it at the same time and they're more with the exchanges, the success rate that they're doing is more than the casinos. But who knows, I don't have the stats for that.

[goinmerry]

We heard that data breaches and hacks in the crypto currency exchanges are more often and almost every exchange faced that but when it comes to casinos they're actually better in that isn't it cause I don't see any casino's got hacked like exchange which means the casinos are having better security standards when it comes to protecting the data and funds.

If hackers will focus more on gambling sites, we should also see the same situation with the exchange. But that's not the case.

Anyway, what's the point? Do you mean crypto exchanges do have poor security compared to gambling sites? No. It's just that when exchanges got hacked, they received more attention as they were an exchange platform, having more users than gambling sites and playing a factor in the price behavior in the crypto-market.

If gambling sites are being hacked, the news isn't that big that's why you end up thinking that exchanges have worse security compared to gambling sites. Overall, based on my own view, gambling sites are more prone to be hacked since then than crypto-exchanges. Again, it's just that when crypto-exchange gets hacked, the news about that is big in most cases.

[harizen]

We heard that data breaches and hacks in the crypto currency exchanges are more often and almost every exchange faced that but when it comes to casinos they're actually better in that isn't it cause I don't see any casino's got hacked like exchange which means the casinos are having better security standards when it comes to protecting the data and funds.

There's also a security problem in crypto-gambling sites but we just don't hear those cases most of the time. In crypto exchanges, even the considered Tier III exchanges are being widely in focus once there is confirmed security-breach-related stuff. I even believed that security in crypto-gambling sites is much more breachable than in exchanges. If you don't see casinos got hacked then maybe you are staying only at the one side of the internet.

Generally, there are also lots of crypto-gambling sites being hacked, and at most cases, that situation will just come and go and then will be forgotten.

[Ultegra134]

Although gambling websites have improved their security measures, I will have to disagree with you. The most major exchanges, such as Coinbase or Binance, are established financial institutions that deal with transactions worth billions of dollars on a daily basis. Of course, they take security extremely seriously, which sometimes makes it tiring and annoying. Binance requires two separate 2FA authenticators just to log in to your account: one code from your phone's authenticator app and one through your email. I had once requested a 2FA reset on another reputable exchange, and the whole process took over 2 to 3 days to verify my identity.

Both industries have suffered from exploits that are almost impossible to prevent, as hackers keep finding ways to penetrate the top-notch securities of these institutions. Fortunately, I don't recall any major recent hacks, but I might be wrong as well.