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[AudraMiller]

Security is probably one of the most important questions when it comes to the use of cryptocurrency, as the only way that people are likely to be involved with crypto is if they can be assured that their funds will be safe and secure for the time that they make their investment. However, this is the same issue that is facing EXMO, a crypto exchange. In a recent article, it seems that the exchange has been the victim of a hack that has resulted in them losing 5% of their assets. The incident is still under investigation, but the EXMO exchange wants it to e known to all of the users that those that were affected by this hack will be compensated from the exchange. I think that this is very important in maintaining the user base and in re-establishing the trust relationship between the exchange and its clients.

 

[Niftyicon]

I was hoping against hope that news like this will be reduced to the barest minimum in the crypto world. I hope users are not at the losing end because of this.

 

[Brain]

There's always a disappearance of funds in exchange or the other but the good thing is that they are always humane enough to compensate the users affected. They should sort this out.

 

[westmania]

Security is probably one of the most important questions when it comes to the use of cryptocurrency, as the only way that people are likely to be involved with crypto is if they can be assured that their funds will be safe and secure for the time that they make their investment. However, this is the same issue that is facing EXMO, a crypto exchange. In a recent article, it seems that the exchange has been the victim of a hack that has resulted in them losing 5% of their assets. The incident is still under investigation, but the EXMO exchange wants it to e known to all of the users that those that were affected by this hack will be compensated from the exchange. I think that this is very important in maintaining the user base and in re-establishing the trust relationship between the exchange and its clients.

wondering these stealing is done with normal website hacking way or breaking blockchain technology i mean cryptography is no more a puzzle now. all can be decoded or decrypted. by website hack mean just like gwtting admin area access and from user interface sending coins to a non tracable wallet (probably). what do you think ?

 

[Josemendez]

Is q

Security is probably one of the most important questions when it comes to the use of cryptocurrency, as the only way that people are likely to be involved with crypto is if they can be assured that their funds will be safe and secure for the time that they make their investment. However, this is the same issue that is facing EXMO, a crypto exchange. In a recent article, it seems that the exchange has been the victim of a hack that has resulted in them losing 5% of their assets. The incident is still under investigation, but the EXMO exchange wants it to e known to all of the users that those that were affected by this hack will be compensated from the exchange. I think that this is very important in maintaining the user base and in re-establishing the trust relationship between the exchange and its clients.

Is quite unfortunate that despite the trending hacking happening on exchanges , some exchange sites are still not updating their security measures . It is quite a loss for this firm .

 

[AudraMiller]

Is q

Is quite unfortunate that despite the trending hacking happening on exchanges , some exchange sites are still not updating their security measures . It is quite a loss for this firm .

This is very true. I think hacks such as this one should highlight the vulnerable areas of the entire process and their system and they should use this opportunity to employ more stringent security measures that prevent anything of this nature happening in the future as well. A small investment into the security now may reap major benefits in the future.

 

[Niftyicon]

This is very true. I think hacks such as this one should highlight the vulnerable areas of the entire process and their system and they should use this opportunity to employ more stringent security measures that prevent anything of this nature happening in the future as well. A small investment into the security now may reap major benefits in the future.

You are right about this. The losses incurred at the end of the day would be way bigger that what could have been spent on putting the security of such sites beyond such vulnerabilities.

 

[AudraMiller]

You are right about this. The losses incurred at the end of the day would be way bigger that what could have been spent on putting the security of such sites beyond such vulnerabilities.

Yes, also security measures or investments into security will also be well received by potential future investors because they will have more confidence in the company based on the company's placement of their customer's importance and security of their funds. This would be good for future growth as well.

 

[highspeed]

Which is a great concern for the cryptocurrency holders and investors, it is probably the absence of a real bank for them!
This is perhaps a determining factor that could lead to insecurity and possible theft of "coins".
I ask: could maybe exist in the future a bank for the crypto?

 

[Niftyicon]

Which is a great concern for the cryptocurrency holders and investors, it is probably the absence of a real bank for them!
This is perhaps a determining factor that could lead to insecurity and possible theft of "coins".
I ask: could maybe exist in the future a bank for the crypto?

Do you think the name 'bank' means heightened security? If all possible security measures aren't in place, the same issues will be repeated even in 'crypto banks' if they end up existing.

 

[highspeed]

Do you think the name 'bank' means heightened security? If all possible security measures aren't in place, the same issues will be repeated even in 'crypto banks' if they end up existing.

Do you think the name 'bank' means heightened security? If all possible security measures aren't in place, the same issues will be repeated even in 'crypto banks' if they end up existing.

Well, in Italy where I live, we define banks as "legalized usury !!" Well then, in a certain sense, you are right!!
I'm sorry, can i ask you, where are you from?
Thank you.

 

[AudraMiller]

Which is a great concern for the cryptocurrency holders and investors, it is probably the absence of a real bank for them!
This is perhaps a determining factor that could lead to insecurity and possible theft of "coins".
I ask: could maybe exist in the future a bank for the crypto?

I don't think that a bank will help in terms of security for the main reason that this is an online currency. When it comes to online currencies, it is very hard to ensure complete safety of the coins because the nature of the internet is quite vulnerable. I do understand where you are coming form though and a centralized place to store crypto may help in the long run.

 

[highspeed]

I don't think that a bank will help in terms of security for the main reason that this is an online currency. When it comes to online currencies, it is very hard to ensure complete safety of the coins because the nature of the internet is quite vulnerable. I do understand where you are coming form though and a centralized place to store crypto may help in the long run.

Yes, so I think that you are right. After all, I realized that it would be almost impossible to could keep a bank for cryptocurrencies, because they are not palpable "coins".
Thank you.

 

[Wisdom01]

I hate to see when a crypto exchange site got hacked , like for instance , cant they increase their security system , so they won't have hacking issues , i just hope they compensate the users

 

[Niftyicon]

What can be done to reduce this happening. Whenever something like this happened, it sometimes affect the users of the exchanger. This is sad and something needs to be done fast

It is indeed very saddening. Security measures have to be taken and where there are vulnerabilities, there should be beefing up to avoid future occurrences.