Why Are Crypto Exchanges Hacked So Often?

[Feraye_deniz]

Because of vulnerability of blockchain. It must fixed! Currently im looking to invest on projects that works on security for blockchain. One of them is SupraOracles. They are working for secure blockchain prototypes and also secure gaming sector. If they could achieve their projects needing,it will be HUGE news for whole blockchain communities,thats why i trust SupraOracles,i highly recommend to do research about that project.

[Luicci_Estraso]

Because of vulnerability of blockchain. It must fixed! Currently im looking to invest on projects that works on security for blockchain. One of them is SupraOracles. They are working for secure blockchain prototypes and also secure gaming sector. If they could achieve their projects needing,it will be HUGE news for whole blockchain communities,thats why i trust SupraOracles,i highly recommend to do research about that project.

I was checking SupraOracles on Medium's forum. And they announced,they are working with Algoblock from now. I think secure system also so important but i didnt expect that kind of new project working with Algo. I will probably follow Supra after that announced,thanks for ur advice btw,if i make profit from following Supra,i will send you a gift,promise. 

[Dreamer]

Scammers and hackers always want to get things easily, and that is why they will find a way to steal our money easily which we worked hard to earn it. Another thing is because crypto is free money, so they feel safer to attack a crypto exchange and steal a few coins rather than hacking banking systems for governments.

[Lifetime]

They should have moved the funds into different wallets so this could not be an easy way to scam large amount of funds. These hackers target people anyway as long as their is money inside it.

[Sonjoy]

Some of them might be once in their life had been employed in  Crypto Exchange so they have a big picture of how the system works. Not counting out that maybe some of the attacks are inside jobs, which make it more easier for doing an hack do go off too much about the topic title , the main reason why exchange are getting hacked because of the money , hackers want money so they target the most exchanges that have the lowest protection system in the field using their tools of course.

[Pagli]

These applications store our private keys on an online server, and you can imagine how 'safe' that'd be!
And if you're asking for the reason why hackers hack these exchanges, then, again, obviously because these exchanges have their users' accounts linked to them and as so many users have their crypto stored, hacking the exchange would mean the hackers would get their hands on the crypto of all the users, which would amount to a lot of money

[amzexpert]

Dear thanks you have provided very useful information about the wallet hacks. I want to tell you that there are a few wallets that are too much safe and hackers may face a lot of difficulties to hack that wallet. I would suggest you use the Binance and the Coinbase wallet. These wallets are safe.

[Freemind]

Dear thanks you have provided very useful information about the wallet hacks. I want to tell you that there are a few wallets that are too much safe and hackers may face a lot of difficulties to hack that wallet. I would suggest you use the Binance and the Coinbase wallet. These wallets are safe.

I do not agree with you. No exchange is 100% secure, you can search the network for information about the hack that Binance suffered in 2019 to verify it, you can also check out the many CoinBase user reports on phishing. I will never recommend anyone to keep their funds on an exchange, we never know what could happen, so I will always say that keeping our funds and private keys with us is always the safest and most reliable. And remember, not your keys, not your coins.

[sadia batool]

The hackers are main and biggest problem in crypto world. All the things are best and even crypto is so profitable but one thing that its risky because of hackers and spammers and by making our security strong we can defeat them.

[Btclover]

They should have moved the funds into different wallets so this could not be an easy way to scam large amount of funds. These hackers target people anyway as long as their is money inside it

[Btclover]

Dear thanks you have provided very useful information about the wallet hacks. I want to tell you that there are a few wallets that are too much safe and hackers may face a lot of difficulties to hack that wallet. I would suggest you use the Binance and the Coinbase wallet. These wallets are safe.

[Honor20]

Hackers is high material interest, since, as can be seen from the above topic, tens of millions of dollars are being stolen from cryptocurrency. In this case, some digital programs Some exchangers just have to copy the same code used in another exchange without even minding to check if there are certain vulnerabilities in it. That is one of the major reason that's why Decentralized exchangers are hard to get hacked

[Freemind]

Hackers is high material interest, since, as can be seen from the above topic, tens of millions of dollars are being stolen from cryptocurrency. In this case, some digital programs Some exchangers just have to copy the same code used in another exchange without even minding to check if there are certain vulnerabilities in it. That is one of the major reason that's why Decentralized exchangers are hard to get hacked

I think you're wrong. No exchange that wants to be serious and have a quality product would copy the source code of another exchange. The source code of an exchange is not public, it is closed source, and it is also very well preserved. If one exchange could copy the source code of another, it wouldn't know if malicious code and back doors were included, so it would be a disaster. Each exchange uses its own code, the problem with hacks is how that code is implemented and what budget is available to keep it up to date.

[elaine345]

There are uncountable reasons why cryptocurrency are easily to be hacked, to protect yourself always buy a hardware wallet like Trezor and Nano Ledger. These 2 are the safest way to ensure that you're not gonna risk you and your digital assets to someone else hands.


You can post without spam, thanks.