Crypto wallet threat

[Heatman]

After the recent hack of Crypto.com and over $15 million coins lost, do you think that it's safe to still leave your coins in the wallet of exchanger that you make use of?

 

[Monster Masterpiece]

First of all most popular wallets are facing this problem may I remember in the past even Coinbase Coinpayments and FaucetPay have faced hack but they handle the problem with police and recover stolen funds.

 

[C.Grigg]

That’s the unfortunate thing about holding your coins on an exchange. I’m waiting for Robinhood to release their wallets and I’ll be bringing my coins to a personal wallet in which I hold the key to.

 

[Ub40]

It is rather unfortunate that such thing happen to crypto.com. I am just wondering what to attribute all these hacking of crypto exchange platforms. Is it that their security is not strong enough? What is really the cause? I was even planning to open an account with them. But I don't know what to do after this kind of information.

 

[C.Grigg]

It is rather unfortunate that such thing happen to crypto.com. I am just wondering what to attribute all these hacking of crypto exchange platforms. Is it that their security is not strong enough? What is really the cause? I was even planning to open an account with them. But I don't know what to do after this kind of information.

They have added a restriction now. All outgoing transaction addresses must be added to the approval list for 24 hours before being able to send to them.

 

[Ub40]

They have added a restriction now. All outgoing transaction addresses must be added to the approval list for 24 hours before being able to send to them.

Ok. I never knew this. The important thing is that they have tried to do something about the situation. Because I was really scared of opening account with them. Thanks for the timely update.

 

[Nova_]

Metamask seems to have a lot of security issues too. But as long as you keep the private keys safe and also learn not to respond to the rogue wallet connections. I think you should be fine. Another thing to note is that some links on telegram and the whatsapp can be bad for your wallet too. So avoid clicking on links which are suspicious.

 

[C.Grigg]

I think it's still safe if we store crypto in a trusted and reputable crypto exchange wallet, because generally the hacked crypto is part of the crypto that is stored in the cloud by the exchange which is generally used for daily transactions. Also many crypto exchanges have insured their cryptocurrencies. so that if you lose yours, it will be replaced.

Which platform do you use that your coins directly are insured?

 

[Monster Masterpiece]

Metamask seems to have a lot of security issues too. But as long as you keep the private keys safe and also learn not to respond to the rogue wallet connections. I think you should be fine. Another thing to note is that some links on telegram and the whatsapp can be bad for your wallet too. So avoid clicking on links which are suspicious.

I think even the use of private key and also the seed phrase has a lot of risks as there are many keyloggers on the internet that could access, my ether wallet connect from phone number by scan qr code is the best method to not being hacked.

 

[C.Grigg]

I think even the use of private key and also the seed phrase has a lot of risks as there are many keyloggers on the internet that could access, my ether wallet connect from phone number by scan qr code is the best method to not being hacked.

But if you don't have that seed phrase, you don't truly own your coins. It's simply an "I owe You". If something happened, you could use your seed to get your funds back. (As long as they are not transferred out)

 

[Lens]

It is acutely important to choose and a How do you promote your services online? exchange that pique our interest and it most the crypto exchange that has been in existence for along with top notch security apparatus.

 

[Nomad]

Decentralized exchanges and wallets are not a safe place to store your crypto assets. You should use a hardware wallet, if you cannot use a hardware wallet, you can try desktop wallet which is comparatively safe than mobile or web wallet.