Nowhere is safe part 2

[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.

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.

That's true. You might be able to avoid your people knowing, but you can't avoid internet knowing. So, the best option here is to use an exchange that you know is working well with securities. I'm familiar with cex especially those two I mentioned in my link. Those two securities a top-notch notch that's why I prefer using them among others and always get updated with their protective funds and reserve ratio

[Best-mary]

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.

Yes, this is plausible. Among the cex I mentioned about their hacks. Bitget wallet wasn't really hacked per se. It was through the link users clicked on one group like that. That made the hacker have a way into their wallet. But the issue was resolved and affected users got compensated. This happened when the wallet wasn't bought by bitget yet.

I think you've given me an idea.. I'll likely have a part in this diffusion and discuss how people should avoid getting affected by hackers

[Miles2006]

Concerning security no one can be smart enough to avoid such not only in the crypto world, I think anything that has to do with money scammers will always be ready to take advantage over every little mistake, even a crypto expect can fall victim when he's not careful with his investment, just like what the op said security starts from us cause if we decide to play with our investments scammers will always be ready to take advantage, my first idea on security do not disclose personal informations to the public, the issue with hackers have asked such question before I don't think crypto hackers can be tracked cause if possible a lot of them who are involved in such act will be punish.

[synchronym]

Bitcoin is risky. When we invest in bitcoins we must be aware of the risks involved in investing in bitcoins. Likewise, whichever wallet we keep our coins in, we must be careful with security. Because day by day hackers are hacking different wallets with their modern methods. Whether we keep hardware wallets or any other wallets, hackers will try to hack our wallets by fooling our eyes with their fancy methods. Of course we should try our best to protect our wallet from all those hackers.

[Out of mind]

Since you plan to keep the money safe by investing in crypto, it is rarely safe. However, there are many safe places where you keep your money, but you can keep your money safely using that wallet. But you must keep your wallet keys in complete security and safe, then you will have fear of losing your money and chances of hackers hacking. Many times it is seen that if there is a large amount of money deposited in an account, hackers plan to hack and can take your money by hacking. That's why you should keep some money in few wallets and then invest for a long time, but you will get some security for the money.

[rhomelmabini]

Bitcoin is risky. When we invest in bitcoins we must be aware of the risks involved in investing in bitcoins. Likewise, whichever wallet we keep our coins in, we must be careful with security. Because day by day hackers are hacking different wallets with their modern methods. Whether we keep hardware wallets or any other wallets, hackers will try to hack our wallets by fooling our eyes with their fancy methods. Of course we should try our best to protect our wallet from all those hackers.

It's easier said than done but I think when it comes to security you really have to be well-educated on anything involving crypto. For me hardware wallets are still the best when it comes to security, it's still on you if something happen on your assets.

[Sophokles]

Bitcoin is risky. When we invest in bitcoins we must be aware of the risks involved in investing in bitcoins. Likewise, whichever wallet we keep our coins in, we must be careful with security. Because day by day hackers are hacking different wallets with their modern methods. Whether we keep hardware wallets or any other wallets, hackers will try to hack our wallets by fooling our eyes with their fancy methods. Of course we should try our best to protect our wallet from all those hackers.

It's easier said than done but I think when it comes to security you really have to be well-educated on anything involving crypto. For me hardware wallets are still the best when it comes to security, it's still on you if something happen on your assets.

Those who lost funds with the recent ledger exploit have done transactions with various dapps which opens a loophole for the exploiter to drain some users accounts. If you use one wallet to store your funds and another one to do transactions or interact with various dapps then that solves the problem. Just separate your long term portfolio from your regular-use portfolio so that your long term portfolio can be safe which has most of the funds. Hackers and Exploiter is smart so we need to be smarter to be on the safe side.

[Johnyz]

Bitcoin is risky. When we invest in bitcoins we must be aware of the risks involved in investing in bitcoins. Likewise, whichever wallet we keep our coins in, we must be careful with security. Because day by day hackers are hacking different wallets with their modern methods. Whether we keep hardware wallets or any other wallets, hackers will try to hack our wallets by fooling our eyes with their fancy methods. Of course we should try our best to protect our wallet from all those hackers.

This is a risky investment but more worth it compare to other investments option.
When it comes to security, this should be your top priority as you are putting your hard earned money here and we know that hackers are always there watching your account and waiting for the right moment to hack you. You should activate every security feature available in your wallet, and protect your keys at all cost.

[goaldigger]

The market is a big ocean where the hackers are trying to catch those fish who don’t know how to protect themselves and that can happen to you as well especially if you don’t focus on the security of your wallet. We must protect our wallet at all cost, and we should not save any crypto on any exchanges because we don’t have control over it. Hackers and scammers are always here in the market, know how to be more secured and don’t ever trust anyone without doing your own research.

[o48o]

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.

Well i don't know about that. It's definitely closer to crypto ethos to be decentralized as possible, but when it comes to being risky, many of the CEXes get hacked but still keep enough funds to have money for their customers. Unlike hacks in decentralized finances. <- (on which you might want to take a look that link).

I understand why people argue that we should head for decentralization, but using DeFi, isn't risk free. Far from it. In fact i wouldn't say it's riskier in any legit CEX.

[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.

Well i don't know about that. It's definitely closer to crypto ethos to be decentralized as possible, but when it comes to being risky, many of the CEXes get hacked but still keep enough funds to have money for their customers. Unlike hacks in decentralized finances. <- (on which you might want to take a look that link).

I understand why people argue that we should head for decentralization, but using DeFi, isn't risk free. Far from it. In fact i wouldn't say it's riskier in any legit CEX.

But you acknowledge that you have to be connected to the exchange for you to also be a victim when decentralized exchange hack happens? I think it is easier for someone to disconnect their wallet when they are done. Unlike centralized exchanges where most people rather store their funds since it’s stressful to send in and then out again. I know centralized exchanges can take responsibility when something goes wrong but I don’t think I’ll risk my money on that. What if it’s too much money than they can give? And many more what ifs. But it’s all personal preference and opinions.

[wheelz1200]

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=

Well first off steer clear of any exchanges to store any coins obviously.  But in terms of safety it's real easy.  Air gapped computer, gen up a cold wallet or even paper wallet.  Throughly wipe the computer and bam ypu have yourself a safe wallet that can't be hacked.  I don't think it's as hard as people are making it.  Problem really lies with people taking the easy way out and not learning crypto storage safety it's not really hard at all.

[odunybiz]

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.

Our negligence and carelessness is the key for the hackers. No matter how save the wallet you use is, being careless can make hackers get you down. A friend of mine was scammed of few dollars just because he connected his wallet with a website to claim an airdrop. One has to be careful with the site or app one connect his/her wallet with.

[Bushdark]

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=

Well first off steer clear of any exchanges to store any coins obviously.  But in terms of safety it's real easy.  Air gapped computer, gen up a cold wallet or even paper wallet.  Throughly wipe the computer and bam ypu have yourself a safe wallet that can't be hacked.  I don't think it's as hard as people are making it.  Problem really lies with people taking the easy way out and not learning crypto storage safety it's not really hard at all.

Nowhere is safe so we need to make sure that we don't invest our money anyhow or in a project we don't have good knowledge about
Cryptocurrency has a lots of risk beneath it but we might not understand since we have never become a victim of hacks or cryptocurrency scam. Things are happening and we should always look for ways to safeguard ourselves so we don't become too focus on what we make us lose in the cryptocurrency market. We can make profits from the market if we know what we are doing and how to go about things.

[Belarge]

Nowhere is safe so we need to make sure that we don't invest our money anyhow or in a project we don't have good knowledge about
Cryptocurrency has a lots of risk beneath it but we might not understand since we have never become a victim of hacks or cryptocurrency scam. Things are happening and we should always look for ways to safeguard ourselves so we don't become too focus on what we make us lose in the cryptocurrency market. We can make profits from the market if we know what we are doing and how to go about things.

Scamming projects are everywhere in the market, before it can be selectively spotted out but now, it requires lengthy period of time before things will finally fall in place for a trader. Everyone should be extremely careful of not fulfilling the entire purpose of grabbing golden opportunities, everything falls to become lesser than our figures, I mean our money invested. I'll never welcome the idea of defeats which I don't find in my personal dictionary of my mind. Nowhere is safe in crypto, we just gave to apply our good sense of humor if we want to survive in the market and milking heavily from the system.

[Oasisman]

 Of course, nowhere is indeed safe, especially for the people who is careless and lacks of knowledge how to secure their assets and wallets. There are a few things we can do or apply to put extra layer of security to our wallet, but that doesn't guarantee your asset is untouchable and I agree to what you have said that we are responsible for our own safety. Once you got expose with the hackers/scammers, you'll become their next target waiting to fall for their gimmicks.

[Bushdark]

Of course, nowhere is indeed safe, especially for the people who is careless and lacks of knowledge how to secure their assets and wallets. There are a few things we can do or apply to put extra layer of security to our wallet, but that doesn't guarantee your asset is untouchable and I agree to what you have said that we are responsible for our own safety. Once you got expose with the hackers/scammers, you'll become their next target waiting to fall for their gimmicks.

Nowhere is safe for us and what we are left with is to make decision that will affect our present consistent.
Those that understand the market will not have much problem from taking appropriate decision that will lead to them making money from the market. Even investing in Bitcoin has it own risks so we have to be careful and prepared for the better things the market has for us..
Whether investing in altcoins or Bitcoin, we can still make profits from the market with relaxation and calmness.

[justdimin]

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.

That is only one reason to get hacked, but there are still other more. Have you heard about phishing? It's when we use the website/app that we think is legit but it was actually a clone (a fake one). And once we entered our sensitive information, like passwords, that is how phishers can access our accounts.

We can get aware with it, but it's almost too late to do an action because our accounts were already got emptied by them. Apart from separating our main wallet, we also need to hang out often in the communities, so that we are updated on what are the in's and out's. This already includes knowing the tactics of the hackers, and on how can we avoid them.

[Hewlet]

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=

safety is not always 100% guaranteed, but their are method that are safer than others although they both require carefulness and lack of unnecessary greed that could lead to hacking of a users account.

One has to know that anyone can be victim of hack and so its necessary we put in the effort in ensuring that we put in law all the safety measures that are needed to guarantee our safety to a reasonable extent

[Y3shot]

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.

Their is no total guarantee that cryptocurrency is very safe, it is risky that is why people don't need to put in all they have in cryptocurrency.  Cryptocurrency is not what people needs to rush into,  people needs to understand it very well because if you go into the wrong investment in rush you can end up losing your hard earned money.  It is important to invest only on the amount you afford to lose because of how risky the market is.