Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: OptimusPrime on November 11, 2018, 06:46:49 AM
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Recently we have read so much about crypto exchange hacks and it is becoming a very bad impression to the crypto community.
1. In your own understanding, what steps would you suggest to the crypto exchanges to enhance security to avoid hack.
2. What advice will you give to your fellow crypto community to protect themselves from being a victim of crypto hack.
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I do believe the team behind crypto exchange to manage and handle all obstacles.
They won't be with them if they are idiot. So at the proper time the project is under control again.
I recommend the more strict security system.
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I do believe the team behind crypto exchange to manage and handle all obstacles.
They won't be with them if they are idiot. So at the proper time the project is under control again.
I recommend the more strict security system.
Most team behind some crypto exchanges has little or no idea about how to secure it's members from hack which is what baffles me most
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I can not advise anything to companies that own exchanges, because they have their own experts in this field who receive huge money to create protection for exchanges. I can also say that it is not necessary to store your tokens on various exchanges.
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1. In your own understanding, what steps would you suggest to the crypto exchanges to enhance security to avoid hack.
Unless we are also that technical, I don't think we have something that they don't already know. To my knowledge, each exchange have their own special team that handles security and they continue to update and enhance their security measures.
2. What advice will you give to your fellow crypto community to protect themselves from being a victim of crypto hack.
Don't trade ;D
Seriously, be careful in dealing with exchanges (for guides, look for the topic created by @EmoneyABC). Double check websites you are visiting. Use hardware wallets. Write down private keys/Paraphrase/Mnemonics or atleast store them on offline devices.
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Cryptocurrency remains unregulated, and many in the community would like it to remain that way. Therefore, it is important that community members receive education and are aware of the risks of cryptocurrency investments. Responsible ICOs along with new solutions against hacking and malicious attacks will also help create a safer climate for future investors.
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I think crypto exchange hack the intention is not scare you but to educate you and make you understand why these attacks happened. If you are interested in learning more about how cryptocurrencies work in detail please take a look at our dedicated.
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Unfortunately I think that all crypto exchanges can be hackable that's why I NEVER leave my coins on any exchange (Binance included) after I made my trades.
Best way to protect your exchange account is to enable 2fa and email check but it's still better non to leave your coins on exchange but withdraw on your wallet
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well that's very likely. To be secure I am not holding my funds on one exchange. If you are not trading don't even keep your funds on the exchange. Instead you can use a hardware wallet.
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Recently we have read so much about crypto exchange hacks and it is becoming a very bad impression to the crypto community.
1. In your own understanding, what steps would you suggest to the crypto exchanges to enhance security to avoid hack.
2. What advice will you give to your fellow crypto community to protect themselves from being a victim of crypto hack.
I will suggest the exchange sites to consider this step.
Use two-factor authentication:
As exchange companies get hacked, the likelihood that password leaked increases. Once hackers get passwords, they try to figure out which personal accounts they can access with the data they stole.
Two-factor authentication - which requires users to not only enter a password but to also confirm entry with another item like a code texted to a phone - is a good way to stop attackers who have stolen passwords. Exchange companies should make it a standard for logging into their sites.
For crypto enthusiasts, be vigilant, do not used a public computer, and be suspicious of emails, in addition, use very strong passwords in your computer systems etc.
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i think the crypto exchange should enhance the security and they can hire the profestional security team to protect sever and anti-hacker.
i think the user should protect theirself, because no safe place in the crypto world
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1. To do this, there are real experts who are engaged in this.
2. Never keep your coins on exchanges, because the exchange at any time can be hacked.
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I do not have any advise to the security team of different crypto exchanges since they are more knowledgeable than I am.
To fellow crypto enthusiasts, add as many security checks as you can. Do not forget to activate the Two-Factor Authentication as @Bobcrypto already mentioned. Exchanges put it there to protect us but if we do not utilize it, then it puts us in a greater risk.