Nowhere is safe part 2

[Best-mary]

I remembered when I posted this some time ago and some people kept saying to be safer you need to be on an off/hard wallet.

https://bitcointalk.org/index.php?topic=5469814.msg62971784#msg62971784

And here, I talk about Hacks that happened both in Cex and Dex
https://bitcointalk.org/index.php?topic=5471139.msg63031458#msg63031458


I said it, if we are in this cryptocurrency ecosystem, our first safety comes from us. No matter what you want to use, there are times when what we believe is the safest won't be the safest. In my post in that link above, I talked about navigating how to be at least 60-80% safe with your assets.

I just got this news that some users lost over $600k from hackers on their Ledger wallet.

https://www.dlnews.com/articles/defi/a-ledger-employee-got-phished-defi-users-lost-thousands/?utm_source=telegram&utm_medium=organic_social&utm_campaign=

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[Makus]

Indeed you where correct, now it's obvious no where is safe for the safe keeping of your cryptocurrency. Hackers are becoming more smart and fast, most especially this period, but that doesn't mean we should avoid the use of hardware wallets. They are still the best and the safest for now until a more top secure wallet is built beside, ledger claims that the attack was not centered on hardware wallet but on the Dapps who used ledgers connectkit. Tether have already frozen the account of the hacker while $254k was still found in the hacker wallet address, so it's possible it might be reversed back to ledger, ledger are looking forward to make a more secure upgrade, so let's keep our hopes high that such aren't gonna happen again.

[btc78]

I said it, if we are in this cryptocurrency ecosystem, our first safety comes from us. No matter what you want to use, there are times when what we believe is the safest won't be the safest.

exactly there are people with bad intentions everywhere we should never be complacent when it comes to making sure the crypto we hold is safe whatever system you use, you have to maintain a certain alertness still

[oktana]

Life’s a risk, businesses are risky, investing in Bitcoin is a risk, but it doesn’t mean one shouldn’t make calculated risks. Now, I can tell you that it is riskier to have your money on a CEX than a DEX. In fact, you can’t even have money in DEX because you only connect your wallet to make a transaction but it isn’t as if you are storing your crypto with them. Many people are conscious to disconnect their wallet afterwards to further reduce the risk (we should try to do so too). But CEX? Your funds are with them before you can even transact. Not only does your fund depend on their security, even the platform can lock you out and you lose your money (not often though). I believe it’s reduced risk to just have your wallet to yourself… that’s the best one can do.

[Sophokles]

This was really shocking that a hardware wallet was also compromised. If a hacker can put value draining codes in a hardware wallet library then whom could we trust? After this incident, I am thinking of using two separate wallet one for interacting with dapps and another for holding funds that don't need to move for a long time. The hacker only managed to drain user funds from those who have used certain dapps with their ledger wallet. Another thing that we should keep in mind is to provoke connection to any dapps we have interacted with with our wallet. Complex smart contracts are the ones targeted by hackers more frequently than any centralized exchange these days.

[livingfree]

This news was about Ledger's library and has been made some topics on certain sections of the forum. But as you're pointing out the safety of everyone and with wallets we use.

The problem starts with the person who owns a wallet. If you're careful and regardless of the wallet you use, of course the official ones. You're unlikely to get phished or hacked.

Monitor your internet activity and the websites you're browsing especially the applications that you're downloading. Because most of these hacks start from people's negligence.

[sheenshane]

Different hacks happened and also different stories of why they are hacked, the main problem is lack of knowledge.
If you're knowledgeable in technical matters plus using decentralized, I often heard of hack incidents.

Yes, I tend to agree, that nowhere is safe in crypto and everything is prone to hacking especially when we're connected to the internet but we can minimize risk when we are fully aware of those risks.  Negligence is one of the primary subjects why people keep getting hacked nowadays, especially newcomers.

[Obim34]

The world is getting more advanced and why technology is suppose to help make things much easier and safer for we, many people are out there trying to do it the wrong way by scamming, frauding and hacking people had earn money from their banks, Cex and Ledger wallets.
The truth is that no matter how safe we try to play there are people who understands technology better and can by that means be able to steal from us that should not mean we should be careless with stuffs. First applying safety will help us not fall victim as of many hacks and fraud.

[bluebit25]

Although I am not someone who is very knowledgeable about security methods, I am aware of what it means to adapt to the field we are learning about. The cryptocurrency space has many pitfalls and risks at different levels. Experiencing and receiving reports from someone helps us to be somewhat aware of improving our own protection. I don't like to look at external factors to evaluate because in the end the biggest mistake always comes from personal ignorance. There are many lessons for us to exploit to become more mature over time, the balance of good/bad people is partly the meaning of life. If we don't try to learn, being afraid and not daring to face will never help our goals be accomplished.

[fapar]

This news was about Ledger's library and has been made some topics on certain sections of the forum. But as you're pointing out the safety of everyone and with wallets we use.

The problem starts with the person who owns a wallet. If you're careful and regardless of the wallet you use, of course the official ones. You're unlikely to get phished or hacked.

Monitor your internet activity and the websites you're browsing especially the applications that you're downloading. Because most of these hacks start from people's negligence.

Moreover, storing coins on Ledger is safe in itself - offline. We are exposed to danger only at the moment of connecting it to any site (market, CEX/DEX, etc.) - online. And this incident in itself with duplication of the “Wallet Connect” window revealed the inattentiveness of users. The simplest risk assessment will lead to the conclusion that your crypto assets should be divided into operational expenses and savings, as CEX (cold/hot wallets) do. That is, you can have two Ledgers, if of course we are talking about hardware crypto wallets.

[EarnOnVictor]

You can't be wrong about this, but first, why are these posts in the altcoin section of the forum? They are better in the main section of the forum to gather more recognition and reading, even as it's the right place fitting for this post. You might want to contact a moderator to help you move them (including those in the links attached) to the right section.

Well, there is no total security in the crypto space, I will always say that, but there are layers of security which I would like people to always consider for the protection of their money. Those who have huge amounts of money will always need offline wallets and so on, after all, they visit the internet not often, especially if they are to be held for long years. While others in terms of exchange, there is no way the DEX will not be better than CEX, but still, as you said, nothing is hidden under hacking, and once they know the domain server itself, it's all done. This is applicable to any system whatsoever and the most protected assets in the world inclusive.

This is why some hackers smile when you say a thing is unhackable, they might trail it for years until they find the weak point to act upon.

[Best-mary]

You can't be wrong about this, but first, why are these posts in the altcoin section of the forum? They are better in the main section of the forum to gather more recognition and reading, even as it's the right place fitting for this post. You might want to contact a moderator to help you move them (including those in the links attached) to the right section.

Well, there is no total security in the crypto space, I will always say that, but there are layers of security which I would like people to always consider for the protection of their money. Those who have huge amounts of money will always need offline wallets and so on, after all, they visit the internet not often, especially if they are to be held for long years. While others in terms of exchange, there is no way the DEX will not be better than CEX, but still, as you said, nothing is hidden under hacking, and once they know the domain server itself, it's all done. This applies to any system whatsoever and the most protected assets in the world inclusive.

This is why some hackers smile when you say a thing is unhackable, they might trail it for years until they find the weak point to act upon.

Wow! Is that so, I never knew of such. I'm trying not to break any rules that's why I feel posting it here is better. I'll contact the mod right away...

I don't know but I think cex might be better in a way if we don't look into the centralised aspects for a second. Now, we know how coins are getting listed every day and everyone is eager to make money not minding what link they click on as far as they get what they want. Same can't be said for cex. You don't need to click here and there and avoid giving hackers your information

[Best-mary]

I said it, if we are in this cryptocurrency ecosystem, our first safety comes from us. No matter what you want to use, there are times when what we believe is the safest won't be the safest.

exactly there are people with bad intentions everywhere we should never be complacent when it comes to making sure the crypto we hold is safe whatever system you use, you have to maintain a certain alertness still

Yes! Especially the system we chose to use is improving daily in their security. I have used like three exchanges and just one dex and can say among these three, Bitget and Binance are really improving in their security. As for dex, I have only used Trust wallet so far

[KingsDen]

You can't be wrong about this, but first, why are these posts in the altcoin section of the forum? They are better in the main section of the forum to gather more recognition and reading, even as it's the right place fitting for this post. You might want to contact a moderator to help you move them (including those in the links attached) to the right section.

I also do not believe that this topic belongs here, I think it would have better fit in the cyber security sub board if it were created. Maybe, it will be nice Op send the topic where he made the first topic about no place is safe.

Actually, the cryptocurrency industry is full of risk and the best way to avoid being hacked is to avoid people knowing you own bitcoin and the wallet you have it.

[Ben Barubal]

  Hackers or scammers are very smart these days. And because they are so smart, we should be smarter than them. Now the question is, how do we do that? This is where people argue and have problems. Yes,  most of the community here in the crypto industry knows that they or we should be careful, but most of them don't know how.

  Can anyone here tell us the steps to take to avoid this? It's so easy to say, Let's be careful, but the action to avoid is that no one really knows what steps to take.

[batang_bitcoin]

As for dex, I have only used Trust wallet so far

Trust wallet isn't a dex but it has an integrated exchange. Well, it's a wallet that many are using because it supports a lot of cryptocurrencies.

Can anyone here tell us the steps to take to avoid this? It's so easy to say, Let's be careful, but the action to avoid is that no one really knows what steps to take.

Do not download files that you don't know, don't visit or click links that are unfamiliar. Start from having that discipline and you'll be able to avoid getting hacked or scammed.

[livingfree]

This news was about Ledger's library and has been made some topics on certain sections of the forum. But as you're pointing out the safety of everyone and with wallets we use.

The problem starts with the person who owns a wallet. If you're careful and regardless of the wallet you use, of course the official ones. You're unlikely to get phished or hacked.

Monitor your internet activity and the websites you're browsing especially the applications that you're downloading. Because most of these hacks start from people's negligence.

Moreover, storing coins on Ledger is safe in itself - offline. We are exposed to danger only at the moment of connecting it to any site (market, CEX/DEX, etc.) - online. And this incident in itself with duplication of the “Wallet Connect” window revealed the inattentiveness of users. The simplest risk assessment will lead to the conclusion that your crypto assets should be divided into operational expenses and savings, as CEX (cold/hot wallets) do. That is, you can have two Ledgers, if of course we are talking about hardware crypto wallets.

Yes, technically it's safe if you do nothing. But I guess everything is fine now but still always check for updates if you are the type of guy that usually connects your hardware wallet to these dexes.

Well, IMO, these hardware wallets should be good for storage and not for active usage which usually connects to the dexes. Because the purpose of it should be main storage than a daily drive you use if you're an active trader.

[Text]

It's the reality that security breaches can happen even in the safest platforms, whether CEX or DEX. So individual responsibility and vigilance in the crypto space are very important. But you know, honestly, based on my personal experiences, I have never been robbed of funds on centralized platforms, perhaps because of second-layer protections such as 2FA and email or mobile confirmation and verification, but on decentralized platforms, it has happened several times. I admit that maybe I wasn't careful enough or I had some shortcomings that led to it happening to me. When I became aware of hacking incidents, I started avoiding dapps or defi platforms that require connecting wallets.

[Beparanf]

Nowhere is safe if you don’t know how to secure your asset properly. All of the issue including hacking events only possible because the victim itself use the service that got exploited. Crypto holders should have a separate air gapped wallet for their main holdings to their money for trading to avoid exposing to risk all his asset at once.

You will lower your chance of being scam by using your wallet frequently online instead use a separate wallet that contains part of your funds to connect online frequently.

[Samlucky O]

Nowhere is safe if you don’t know how to secure your asset properly. All of the issue including hacking events only possible because the victim itself use the service that got exploited. Crypto holders should have a separate air gapped wallet for their main holdings to their money for trading to avoid exposing to risk all his asset at once.

I agree with you. I believe the real or possible cause of this hacks is as a result of using main wallet for all transactions. I think there is need to have separate wallets, so that one should be for storage while the other one is for frequent transactions.