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Author Topic: Why Are Crypto Exchanges Hacked So Often?  (Read 43752 times)

Offline Jamie07

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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #30 on: October 18, 2020, 04:26:25 AM »
Hackers are really expanding their knowledge about how to breach securities. 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.
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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #30 on: October 18, 2020, 04:26:25 AM »

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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #31 on: October 25, 2020, 01:09:17 PM »
I think if its password system was more powerful then maybe it could have been hacked.The goal of hackers is to hack.They always notice that there is a huge amount of dollars in any exchange.
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Offline Renampun

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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #32 on: November 05, 2020, 06:32:04 AM »
the main reason why there are still many exchanges that get hacked is;
  • developers are lazy to upgrade their security system
  • does not run bug hack campaigns to find out about their system leaks
  • do not pay attention to the performance of their employees

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Offline iloveyobit

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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #33 on: November 17, 2020, 11:36:07 AM »
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.

Offline Dora Walletinvestor

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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #34 on: November 18, 2020, 09:59:55 AM »
I like the detailed explanation of the original post. Unfortunately exchanges are still vulnerable, as users it is our responsibility to choose a good exchange and to store our funds in a secure way.
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Offline yemight62

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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #35 on: December 01, 2020, 06:06:38 PM »
The total cap of an exchange can't be compare with that of an individual,  hence much money can be derived from hacking of an exchange.  But with the increase in hacking of exchange,  exchanges too are developing high security techniques in other to protect themselves. I think the rate will decrease soon. 
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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #36 on: December 13, 2020, 12:05:43 AM »
Crypto currencies are prone to hacking, As far as you're in a site that has up to a million running members you need to know scamming AMD hacking might take place. And beware of where you jump in to invest on crypto.
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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #36 on: December 13, 2020, 12:05:43 AM »


Offline monig18

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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #37 on: December 13, 2020, 12:58:24 PM »
Exchanges are hacked because of inadequate security arrangements. Their websites are not properly built.Sometime user's accounts are connected to the exchange account which gives the hackers a chance.There is no way to catch and punish hackers in crypto.

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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #38 on: December 30, 2020, 01:40:26 PM »
Cryptocurrency hacking, because there are many newcomers to cryptocurrency trading, and because of some anonymous currencies, it is easy to buy and sell, and finally there is a legal vacancy.

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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #39 on: December 30, 2020, 01:47:35 PM »
From what I have seen over the years, most of the hacked exchanges are due to lack of security, as they say has happened with the last case, Livecoin, with Cryptopia something similar happened, although I think they were going to return the funds to users (we'll see if they do or not) although I've seen quite a few exit scams as well.
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Offline Casual

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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #40 on: January 03, 2021, 07:08:58 AM »
Crypto exchanges are hacked from time to time, whether it's new or not. The kucoin exchange was hacked several months ago. Those who have hackers are always trying to figure out how to hack something. Especially those that are at the top of popularity are prone to hacking exchanges.
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Offline yemight62

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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #41 on: January 08, 2021, 11:06:05 PM »
Exchanges are hacked because of inadequate security arrangements. Their website are not properly built.
I won't agree with you on that. Even to security organisations and even countries are hacked into.  Tell me a renowned exchange that has not been hacked into.  It's not necessarily because of inadequate security.
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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #42 on: January 19, 2021, 05:27:14 AM »
Exchanges are hacked because of inadequate security arrangements. Their website are not properly built.
I won't agree with you on that. Even to security organisations and even countries are hacked into.  Tell me a renowned exchange that has not been hacked into.  It's not necessarily because of inadequate security.

Yes, you are right as until now almost all the major exchanges face the hacking issue. Some exchanges are in the news because they are not able to control it and some can handle it and don't leak the news.
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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #43 on: January 20, 2021, 10:56:48 AM »
Let no one forget the exit scam, sadly it has happened many times and nothing can be done against it. The last case that has not been clear is that of Livecoin, which closed its exchange after the "attack suffered" in December last year. They say they will return the funds to users but we'll see...
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Offline Cryptolover5

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Re: Why Are Crypto Exchanges Hacked So Often?
« Reply #44 on: January 22, 2021, 11:01:38 PM »
Your article is very educative and will really help most people learn a lot about why exchanges are being hacked and I agree with the points you listed out, actually there are so many reasons why an exchange can be hacked easily, tho it isn't easy hacking an exchange because it got security which guides it, the main reason is that hackers study alot on hacking and becomes very smart thereby checking out exchanges will low security level and break through it. So I think exchanges should try as much as possible to upgrade their security to a very high standard to ensure hackers to find it very difficult to break through.
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