Is hacking the new game now?

[5W-KILO]

Why is it that their major targets was on well know sites?
Does it mean that no one can develop a stronger security measures to outsmart those hackers

This big platforms are the target why because that were the money is. The security teams have to be 100 % right at all time but a hacker is just looking for a single mistake.

Checking things out most of this major hackers don’t actually break blockchain code, all they do is to exploit human weakness through stolen staff passwords or even inside leaks. In security humans are actually always be the weakest. That why to leave your funds on exchanges is really risky. The one way I see to protect you money is through self custody.

Not entirely true, there are many crypto wallets holding millions in dollars worth of Bitcoin and also other cryptocurrency too, hackers are the ones to find vulnerabilities either on crypto exchanges, gambling platforms or crypto wallets.

Hackers will point to where the next vulnerability is found, it doesn't matter, and right now vulnerability is everywhere, hacking has gotten better unfortunately, all because we now have AI and they are getting more powerful.

[TheUltraElite]

Companies screen their employees so as to prevent possible black hat people from getting into the inner circle. The ones who still get in are always kept under watch by controlling what they were viewing and doing. Of course hacks can happen any time and since forum members here are not exchange ownerw but customers, what is important is keeping the money safe.

For that dont store coins on exchanges for any sort of time period whatsoever and take care to avoid falling trap into scams.

[Oasisman]

My question is: does it mean that no one can outsmart those hacker?
Why is it that their major targets was on well know sites?
Does it mean that no one can develop a stronger security measures to outsmart those hackers or does it mean that most of the hacks that is happening are from Insider? Or maybe someone who is already in the system are leaking out their information to hacker ?

Again, how do you trust the people that are being employed to work with most of the exchange or gambling site?
What are the strategies to ensure that the staff they are hiring is trusted and can not compromised their duties or works, because it's always said that only those who are Inside that can know the way about the system.

I would want to know, and your response will means a lot to me.

The security on these big exchange are actually pretty solid and hard to compromise. It's always the leak from the inside that would take the security down and put everything vulnerable. Hackers normally starts attacking when the company are quite complacent on their current security status. Hackers and developers are always like playing cheese, when one of them makes a move the other one would always have a counter moves.
There's no way we can easily determine how trustworthy an employee is, and that is something that we should no be worrying about. As long as the platform offers insurance if there's a hacking incident and anything like that, I guess we'll be fine.
I think gambling platforms should now consider allocating budget for insurance, otherwise they'll gonna lose everything if something like this happens to them.

[Ashawowo(OS)]

Why is it that their major targets was on well know sites?

They target places that the bulk of the money exists.

Does it mean that no one can develop a stronger security measures to outsmart those hackers or does it mean that most of the hacks that is happening are from Insider? Or maybe someone who is already in the system are leaking out their information to hacker ?

There are always loose ends, if they don't see one they create one themselves..
Polymarket was through a third party provider
Coldcard was firmware bug
Binance was a compromised devop offered a job in disguise
Bitget was a bug in a third party security product.

Hackers are always looking out for loose ends or vulnerable employees or third parties to compromise and gain entry.

[BluebloodCXVI]

The reality of it all is just that there’s no security system that is completely hack proof, the best they can do is make the attacks more difficult to affect people and more importantly, to ensure that one compromised account or security weakness doesn’t give the attackers access to the rest or everything.
Security is a phenomenon that evolves, and the same way it evolves is the same way attackers, hackers and scammers evolve too……It’s not something an organization can just perfect and call it a day, they need to continuously update their security systems, identify any vulnerabilities and adapt to possible emerging threats, that’s the best they can do.

[Taricoins]

This binance hacking that happened on Thursday is not the first time the crypto exchange point have been under attack and may not  even be the last because as the their is advancement in all aspects same also should we expect such news, although am sure binance will close the gap and such won't repeat itself again.
Statistically looking at the lost of capital experienced over the years, you will realize that it is not only in the crypto world all this are happening it also happens in the traditional banking institutions and there's appears worst because most customers losses there money because the banks finds ot difficult repaying them except the government chooses to intervene on the matter but that of the crypto world is different as the exchange institutions repays investors to maintain there integrity.

I understand the advancement in every sector you are talking about but even as the hacking guys improve their games, that's how we are expecting the cyber security folks to up their game, counter measures should have been put in place as soon as the first 30 hacks attempted was heard, this proves that their is something bigger that what we think.

The question the OP, was asking, you don't have to trust them, a tighter security should he implemented, office systems should strictly be scrutinized and pinged for irregular activities

[Sammysmart001]

The reality of it all is just that there’s no security system that is completely hack proof,

No company can actually promise 100% safety forever, hackers also finds new ways to break in as security gets better.
The best for us to do is to protect ourselves since we cannot control how exchanges manage their security.

Your long term money should be kept in your own wallet and what you are actively using should be kept on your exchange.

[Mr. Magkaisa]

AI is a powerful thing we can use to make our daily life much eaasier specially in research. Ai tools make life easier in editing, making something and even AI movies. But how dangerous life with internet now specially with crypotocurrency is AI will be another weapon for hackers, Imagine A brain of a hacker + the tool of AI? how dangerous is this?  Weell hacking is the new game now, it is just used by dirty minds.

[Agathamay]

I have thought of where to make this post but didn't know the right section to post it. Although, I know that if there is a better place to make you could direct me to move it there.
Back to my question, this year has seems to be the worst year for the crypto space, Duelbits hack, Binance hack, many more hacks that happened on the space. My question is: does it mean that no one can outsmart those hacker?
Why is it that their major targets was on well know sites?
Does it mean that no one can develop a stronger security measures to outsmart those hackers or does it mean that most of the hacks that is happening are from Insider? Or maybe someone who is already in the system are leaking out their information to hacker ?

Again, how do you trust the people that are being employed to work with most of the exchange or gambling site?
What are the strategies to ensure that the staff they are hiring is trusted and can not compromised their duties or works, because it's always said that only those who are Inside that can know the way about the system.

I would want to know, and your response will means a lot to me.

Business is already a very risky one and that is why nothing seems to be certain when having business deals and for the hacks, no matter how secure a platform wants to be, there are always still possibles that it can be hacked and one way to be ahead of the scammers is to be able to recover what was lost and that was what Binance did which implies they where in some ways ahead of the scammers.

I don't want to believe that, there are always insiders in these hack cases but if there was then, these platforms have to do proper screening of their staff and more better orientations.

[Pikiboy]

AI is a powerful thing we can use to make our daily life much eaasier specially in research. Ai tools make life easier in editing, making something and even AI movies. But how dangerous life with internet now specially with crypotocurrency is AI will be another weapon for hackers, Imagine A brain of a hacker + the tool of AI? how dangerous is this?  Weell hacking is the new game now, it is just used by dirty minds.

When you talks about hacking as the new game now you would see that people who has refused to work or staffs that was previously employed and after some months or possibly years interval they fire him, all these things are what also leads to some of these hacked because already they knew as the exchange or gambling site operates they could do anything possible just to make sure they have their way inside the site because they had knowledge towards how the site works.

[Cookdata]

AI is a powerful thing we can use to make our daily life much eaasier specially in research. Ai tools make life easier in editing, making something and even AI movies. But how dangerous life with internet now specially with crypotocurrency is AI will be another weapon for hackers, Imagine A brain of a hacker + the tool of AI? how dangerous is this?  Weell hacking is the new game now, it is just used by dirty minds.

AI is not that dangerous, they are only used to engineer the old way system how hack were done before now. Have you read the announcement Binance released recently regarding their employee who was exploited? Like, they used a fake job to gain access to the employee and were able to compromise their laptop. As big as Binance is, this is the most avoidable mistake that cost them a $6B attack, yet they didn't see that coming for a while. As sensitive as this looks, he couldn't get a separate laptop for daily needs. They shouldn't sack him, he needs to be arrested. 

Whether we like it or not, AI is here to stay, and we have to look for ways to tighten up our security. If you fuck around, you are definitely going to find out. If you also exploit a system and steal money because you think hacking seems easy with AI and it's the new game now, you are going to jail if you are caught. The fact that FBI is involved in this Binance exploit means anyone that take $1 from this heist will answer a lot of questions if caught.

[Emitdama]

Does it mean that no one can develop a stronger security measures to outsmart those hackers or does it mean that most of the hacks that is happening are from Insider? Or maybe someone who is already in the system are leaking out their information to hacker ?

Again, how do you trust the people that are being employed to work with most of the exchange or gambling site?

Even though we can't totally remove the possibility of insiders leaking information outside, With the view to helping hacks more successful. I don't think that these hackers actually rily on insider information to carry out their activities, the truth is that these hackers have advanced cracking tool which most people believe is from the dark web. We should not try to defuse this matter to in-house sabotage because that is not likely to happen because we have seen several exchanges been hacked this year.

I believe that before someone is employed such a person will be critical scrutinized before been employed. There is one thing that we are forgetting in this whole hacking stuff that is going on, and that is almost all the Exchanges that has been hacked has some security lopeholes which the hackers use in penetrating.

With those advanced tools, insider information will be like cherry on cake for these hackers. They will still have to identify the target and insider can help them a lot here. I strongly believe that these is always some insider information coming out which helps these hackers get hands on these funds. Corporates like Binance have a strong tech team so getting into the wallets is not that easy. Even the smartest group from north korea will have to spend years in being able to identify the flaws.

But if someone actually helps them within the organisation, this saves them years of hard work and the same hack takes places within a few months. There should be strict investigations and any such insider should be caught to create an example to others.

[tbterryboy]

Preparing for the worse and hopeful for the best has always been the standard for those keeping their asset or holding in centralized exchange jack is never a new thing in the crypto system despite not spending quality of years but have read many update and information about keeping one holding in centralized exchange it's danger apart from biance some centralized exchange are once some twice hack before now , it's advisable to act in every vital information regarding security mostly if your Bitcoin holder who target is long time to utilize cold wallet, or self custodian where absence of middle men could be much access like the opened market like centralized, those who are doing daily trading is having that mindset of leaving their asset in centralized exchange not holder that will stay with 10year above such decision is too risky to take.

We always have to keep this in mind that our money can be stolen at any point in time. We should take utmost care to keep our money safe and holding all of our money on these platforms is never a good practice. We should never hold big money on online platforms for more than 2 days if it is siting idle.

We can always move it to a wallet where only we control the keys and keep moving it to and forth as needed. Paying a fraction in transaction fees is okay for me instead of risking all my money with the exchange. Those who are involved in daily trading have no other option but when I used to trade daily, I used to withdraw daily profits and only keep the capital there. I did not chase compounding just because I always like to take that extra step when it comes to precautions.

[Captain Corporate]

These hackers are getting smarter so outsmarting these hackers is a real task for exchanges or casinos. These platforms are the first target because the reward is extra ordinary for these hackers. They won't mind spending a few months in finding flaws or penetrating the system until they can get in and out with all the money. Binance hack teaches us that even reputed platforms can get hacked so our money is never safe with these platforms. Binance has still assured that the user funds are safe so hopefully it does not affect the users.

These exchanges or gambling sites have most of the employees overseas who are working remotely so the risk of data breach always remains constant.

[Queen uloma]

This binance hacking that happened on Thursday is not the first time the crypto exchange point have been under attack and may not  even be the last because as the their is advancement in all aspects same also should we expect such news, although am sure binance will close the gap and such won't repeat itself again.
Statistically looking at the lost of capital experienced over the years, you will realize that it is not only in the crypto world all this are happening it also happens in the traditional banking institutions and there's appears worst because most customers losses there money because the banks finds ot difficult repaying them except the government chooses to intervene on the matter but that of the crypto world is different as the exchange institutions repays investors to maintain there integrity.

I totally agree with you, security attacks doesn’t only happen on crypto space, even traditional banks also experience same issues. I feel we ain’t suppose to use bank failure to justify exchange hacks. The most essential thing is to know how the platform responds and protect customers,  how they take care of the responsibility for their losses.

Even if binance can refund  those who were affected, it doesn’t change the fact that those exchange still carries risk.