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Ethereum network is not secure!

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7 hours ago, Strangernew1 said:

Hackers are always trying to manipulate different things and crypto currency assets nowadays are main targets of the hackers. Coins transaction done through blockchain technology are secured. 

As a programmer i never rests assured, i believe there no kind of code that can not be cracked only the difficulty can increase.

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On 11/27/2019 at 11:18 PM, faceless said:

I think that Ether is not secure, I did not do much research just noticed after these two incidences stated below.

 

  • Ether hack on cryptopia exchange
  • Ether hack on Upbit exchange

The big tokens and coins of the crypto currency are the main targets of the hackers. I advice everyone not to hold larger amount of assets in any exchange. And thanks for making us aware by sharing this information. 

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On 4/26/2020 at 4:39 PM, Saboor said:

Yea,, definitely the main problem of this hacking and getting away with ethereum is within the endpoint if the wallet and exchange, if developers will properly investigate this aspect, they might solve it easily

Correct. Their work will not stop because hackers do the same thing. Reserve funds are needed to manage security. Adequate payment for internal workers is also very important so that their loyalty is maintained. Because insiders are one of the main causes that can cause leakage in the system.

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13 hours ago, GanDuba said:

There are many safe exchanges that have good reputations, binance, eToro, coinbase and many others. There is no way a good trader will not save some amount of cryptocurrencies  on exchanges because of low trading fees. 

Not all exchanges are safe this days, they can be hacked whenever hackers are ready to do their evil work, we just hope it will be less than before

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11 hours ago, lovecrypto19 said:

I do not blame someone who keeps in the country. I only remind you to use safe exchange and safe exchange, as you said. So that's a good thing to do.

Yea, we don't need to blame those that keep their funds on exchange, they will learn their lesson when the exchange has been hacked and there money been halt still further notice

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12 hours ago, lovecrypto19 said:

I do not blame someone who keeps in the country. I only remind you to use safe exchange and safe exchange, as you said. So that's a good thing to do.

That is just it, like me, all I wanted was a non custodian wallet and never use exchanges at all, but yobit and binance probed me wrong as I can not do without them both. 

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19 hours ago, lovecrypto19 said:

If we let that happen, then that means we no longer care about the people who experience it. But we have often been reminded to use a trusted exchange.

We cared about them, but some people are ignorant and not ready to heed to advice, they like to do it on their own ways

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22 hours ago, lovecrypto19 said:

If we have reminded them and they don't listen and use their own way, that means you have done the right thing. and all come back to their respective decisions.

Yea, it is better to leave everyone to their problems as it will be possible for everywhere to get his own right benefits from it

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On 11/27/2019 at 6:48 PM, faceless said:

I think that Ether is not secure, I did not do much research just noticed after these two incidences stated below.

 

  • Ether hack on cryptopia exchange
  • Ether hack on Upbit exchange

From this article, it's probably that of the inefficiency of the exchange security on the storage of the Ethereum coin on their exchange, because hackers hack exchanges as to steal from them, rather than having the Ethereum network to loot from it. As this incidence looks base on this 2 exchanges of upbit  and cryptopia

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Even though, ethereum network is not perfect at all, it is one of the best that is actually working and have some potential to increase its use among users.

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I also think security in Etherium isn't too much good , hackers always target Etherium or bitcoin for hacking purpose . hopefully we Will see good security in next update of Etherium that's is Etherium 2.0 .

this is pretty well if we didn't see this type of hacking agian .


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On 8/16/2020 at 10:26 AM, Abuyaman said:

There's no safe network, hacker will break the safety program soon or later. This is bad news for all of us but we only player that don't have ability to protect all network. Simple solution is keep our asset only in bank, meaning never use exchanges for saving.

While i support you that exchanges are never secure, i also want to assure you that coins network are very secure, maybe there is a vulnerabilities in ethereum but no one can get in, and for coins such as monero it is even impossible. Now the USA government is running a bounty for hacking the monero network and no one has even got close.

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Seriously, I do not know why OP has related exchange hacking with security of Ethereum blockchain. Attackers succeeded hacking due to vulnerability on exchange not due to weakest point on Etherem blockchain network. 

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It's like the Exchange Being Hacked not the Ethereum itself. However, there are other instances where there were 51% attacks on the Blockchain.

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9 hours ago, Swapzone said:

It's like the Exchange Being Hacked not the Ethereum itself. However, there are other instances where there were 51% attacks on the Blockchain.

Maybe the APIs that exchanges uses are are easily read to hack the ethereum blockchain through those exchanges, because ehtereum is mostly the target and that can not be a coincidence.

On 9/19/2020 at 3:40 AM, Abuyaman said:

I don't think there is any thing like this because Ethereum is one of most updated and best technology in crypto world and devs doing best for for many years even community is also checking all things if they feel any problem then surely they give any statement about this but there is no problem like this just few trolls doing rumours about this for some time.

But how do we know that it has the best technology we are not even programmers we can not prove that, i say we should not say things for sure and consider the possibilities my brother.

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On 12/2/2019 at 12:16 PM, BitcoinTurk said:

Unfortunately, the Ethereum network has many vulnerabilities, and project developers are constantly putting these errors in the background.  Even though it is a beautiful and useful project, the Ethereum network needs to be improved and first of all to get rid of security holes.

You are right, but I think that the developers will develop their own network in order to make transactions safer for users.

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On 9/24/2020 at 2:00 AM, Omar Ommeish said:

You are right, but I think that the developers will develop their own network in order to make transactions safer for users.

i think the biggest mistake i've seen in eth is the 51% attacks on mining, because it makes the rewards drop so much

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Yeap thats why i dont have any ETH in my portfolio.. and last bad testnet test soo no stable project..

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Unfortunately, the Ethereum network has many vulnerabilities. Once I personally encountered a problem when my wallet was hacked and cryptocurrency was withdrawn, but there was only a small balance, so I was lucky. I also constantly see information about how exchanges are hacked about 1 time a week and clients are left without coins. I hope this situation will be corrected.

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I have not had problems with the ethereum network, but I have noticed that many dubious platforms use it for scams, many times they are clones and people who are not so familiar can lose a lot of money.

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an automated, decentralized venture capital fund — was launched on Ethereum. Less than two months later, it was hacked, and over $60 million worth of ether vanished in an instant.

The potential of new blockchain  technology  like ETH  doesn’t count for much if it comes at the expense of security. Incidents like the DAO invite the question: Just how secure is the new, decentralized supercomputer that is Ethereum?

The short answer is this: Ethereum itself is more secure than you might think, but using a decentralized app or exchange that hasn’t be properly vetted could leave you and your ether compromised.

Read on for a breakdown of how best to understand the major security issues of Ethereum and its smart contracts.

“Is Ethereum secure?” is an ambiguous question

Asking whether Ethereum is secure is like asking if computers are secure: you need to be more specific if you want the question to be meaningful.

At bottom, Ethereum is a blockchain like Bitcoin’s blockchain: its mining community solves computationally complex problems in order to add new blocks to the public ledger of transactions. The functionality of Ethereum’s blockchain is different from Bitcoin’s, though: it’s designed to operate as a virtual machine that executes smart contracts, which developers can program in a Turing-complete programming language.

So, when you ask “Is Ethereum secure?”, you need to answer the further question: Are you talking about the security of Ethereum blockchain, or are you talking about the security of the smart contracts built on top of Ethereum?

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Well, as I was researching there are some key facts:

1-Ethereum 2.0 would be especially vulnerable to supermajority and finality attacks. As a solution to this, they propose to increase the reward for staking.

2-It will be easier to escalate an attack on Ethereum 2.0 than on the current network. This was noted by Tanner Hoban and Thomas Borgers, from the ConsenSys company in a report of more than 100 pages in which they give their reasons for this.

 

They base their caveat on that the Proof of Stake (or PoS) implementation in Ethereum 2.0 does not have the protection barriers posed by the expensive hardware and high power consumption of Proof of Work. This, Hoban and Borgers point out, is inadequate to achieve sufficient levels of security.

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4 hours ago, Orlandito said:

Bueno, mientras investigaba, hay algunos hechos clave:

1-Ethereum 2.0 sería especialmente vulnerable a los ataques de supermayoría y finalidad. Como solución a esto, proponen aumentar la recompensa por apostar.

2-Será más fácil escalar un ataque en Ethereum 2.0 que en la red actual. Así lo señalaron Tanner Hoban y Thomas Borgers, de la empresa ConsenSys en un informe de más de 100 páginas en el que dan sus razones para ello.

 

Basan su advertencia en que la implementación de la Prueba de participación (o PoS) en Ethereum 2.0 no tiene las barreras de protección planteadas por el costoso hardware y el alto consumo de energía de la Prueba de trabajo. Esto, señalan Hoban y Borgers, es inadecuado para lograr niveles de seguridad suficientes.

The big question is who is safer. For the moment it has been Bitcoin, with the number of nodes it has shows that the most profitable thing is to be a miner there. But this is changing, little by little.

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On 11/27/2019 at 8:48 PM, faceless said:

I think that Ether is not secure, I did not do much research just noticed after these two incidences stated below.

 

  • Ether hack on cryptopia exchange
  • Ether hack on Upbit exchange

your examples have nothing to do with eth. The blockchain has never been hacked, the integrity has not been violated, and transactions always reach the end person.

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