8 ways people lose their crypto stored on exchanges

[CryptoMaxim 3829]

Thanks for the post. The points in the post are worth paying attention to now. Otherwise, after the loss of funds, it will be too late. Beginners should pay special attention to this.

[guatazoo 7150]

Many of people who are using exchanges they are not taking much seriously on keeping their details safely, such as logging in in any person device to their exchanges and leaving their details in the someone phone. 

[DreamStage 2105]

Thank you such long and vast informational topic, i can't give you more reputation cause only 1x is possible 😄

 

I have almost lost my money from some specific points you mentioned such as 1. A week password, 4. not using 2fa, 6. The exchange itself getting compromised.

 

The 6. point i had lucky they were able to restore the funds, but the 1 and 2 i had to get myself solutioned and change password and starting enabling 2fa in everything i would create account for.

 

So listen to my experience and think on your accounts as well people 😉

[Tunuu 2235]

Yes mate a weak password can be the most reason for many people to lost their money with exchanges. That is why many exchanges recommended us to set at least 12 characters including numbers, symbols and letters.

[Jaafar Fahad Hassan 114]

If the newbies and even some old members  can go through this post am sure it will be nice, a very important post, i thing using Google authentication for all sites and application would be a nice opinion also, it will make sense  to have a two factor authentication

[byeibo 17]

yobit.net come together

[Luiiis 31]

I only use exchanges for currency exchange and trading. Storing cryptos on an exchange can be very dangerous because there are many hackers out there trying to hack these exchanges web pages

[Hfaragon33 29]

Hello bro, thanks for the advices! I did all of it! Imagine if yobit show up a new safer yobit app

[Gecko23 77]

Thanks for sharing this reminder. I use yobit because it allows me to have 2FA Security on my account. I feel safer when i use this feature. My money wont be risked if i save it there. Also binance allows 2FA, both are really useful exchanges!

[Juanj1980 33]

Thank you for sharing the information it is good to keep in mind

[carlos291 76]

On 4/4/2020 at 9:56, crypto7x said:

gracias por compartir esta información y quiero decir que lo más seguro es configurar la Autenticación de Google que hará que nuestra cuenta en cualquier plataforma sea más segura.

I also recommend linking your account with Google 2FA Authentication and also using exchanges that require it such as, yobit or binance

[roymundo18 27]

I want to give thanks for sharing your kind and so important information, this informative information so helpful for new commers.

[Kami505030 1617]

It is confirmed that every where we are afraid of hackers, and thinking about of our money to be stolen by some one. This thing made all people in complete worry and thats why every one is searching for most secure exchange where he/she feels no tention and can easily trade.

[Jromz 2158]

Very nice compilation of security considerations, relevant to all of us dealing wth exchanges on a frequent basis. We all should take this security advice seriously to save ourselves from some headaches in the future. I would also add that exchanges are a common target for hackers, and many exchanges do not take responsibility for stolen funds. Then, it is always important to consider only holding a small proportion of our assets in exchanges, and bearing in mind that those assets are exposed to certain risk while they're in the exchange. 

[GanBin 705]

We should also be  able make use of good exchanges, some reason why users lose crypto on exchanges may not be the fault of the user, but because the security of the exchange used can be weak in a way hackers can attack the exchange to steal people funds. 

[raking 50]

lots of useful advice for newbies. Did I know that an application 2fa authy will help you to save 2fa codes if your phone is lost you can login to your account in another phone and you will get the list of 2fa codes you used login.

link : https://play.google.com/store/apps/details?id=com.authy.authy

 

[ShiNorton 906]

Weak password,  phishing is the important  reason to lose money from the exchange sites. Always try to put strongest passwords & never download  Scam app. 

Edited November 1, 2020 by ShiNorton

[huesca123 946]

hi all

 

i have posted in other threads about storing your coins in an online wallet or exchange. to me, its a scary thought to store any coins online or on an exchange.

 

if your trading, leave just enough in your trading account to cover your trades. if you need more, zap some more into your account. the idea of storing my coins in an exchange just doesnt make sense to me.

 

download a wallet to your computer or telephone. ive said this before, treat your coins as if they are your bank account or savings account. make sure you have complete control over their safety. just think what happened to Mt Gox. it happened before, it can happen again. then you have the problem of scam web site wallets. the dark web is famous for scam wallets stealing coins.

 

always back up your wallet. make a copy of your seed. use strong passwords. use a quality respectable wallet.

 

i use exodus & jaxx liberty. they offer for macs & win. i dont know if they are offered for phones.

 

all the best

[RoyalHouse01 9]

All the other factors are less important and people loss less money in them but most of the time people loss money only because the exchanges decide to scam people and they lose their money.

[Nenomao 175]

Yes I also noticed these things but I can't think about broken of mobile phone mostly I noticed that people using weak passwards and mostly they compromise with emails and by that email when they signed in their all curriencies was hacked some days ago I also received email I don't know about the language they used in that mail but by the shape and using peatcure I guess that it's a good way for receiving rewards but I have no time at that day and after few days I received same e mail then after some hours I ready an article on the same mail I come to know that was scamming purpose and thanks god my curriencies are safe. 

[Syedbesharat 5423]

I have make sure to secure my account on every mean by placing strong password, email, mobile phone number and 2FA  protection. But after all of this I always record my activities in journal digital and hard copy. Because life is unpredictable and I want to give my assets to my family if something happened to me. The laptop of mine is connected to my mobile phone so it have also a strong security. I am not a genius just a regular guy who are afraid to lose own assets. So talk to family time to time and share updates of your achievement. 

[Aledar 48]

This just shows that there can be no trust in crypto world, never ever trust people on internet who tells you that you can easily earn crypto buy following their advice or even following their link, everyone wants to have everything easily and without any knowledge in certain subject, that is not how life works.

[Faheem Akhtar304 915]

yes you are right people often do these type of mistakes.everyone here on this platform should be aware of these key factors thanks a lot for sharing these precious points with us i will try to follow thse points because security comes first.

[Mohammad Feyaz 615]

Well dear u raised an important issue and and shows carelessness of the people. People should take their security seriously and should take enough step to make it safe. Actually now the hacker are advanced and without proper security features your data would be compromised and harm u worstly. Take your security seriously and take essential measure to make it better

[Mahmod aljarah 1383]

Encrypting accounts ... and setting secure passwords is the most important among those who have been separated and mentioned .. Most people put passwords for their easy-to-guess accounts, such as their name, serial number 12345, or their mobile phone number. This is what makes the hacker stand mockingly while stealing their money.