Bitcoin/alts - do not leave on exchange.

[Deleted User]

Have recently had a bit of a bad experience where someone hacked my Bittrex account, sold all my cryptos and converted to bitcoin and then withdrew to their own bitcoin wallet.

I can trace the login to a VPN provider in Germany but, pretty much, its gone.

Lesson learned - never leave on an exchange because it can get hacked.

ColdIron

I'd go one step further ...

dealer_wins

Reason no 255447 not to use bitcoin etc

Too much risk of it simply disappearing!

Terry_Towelling

When you say, 'hacked' do you mean they got around the login security (which is hacking), or do you mean they had access to your login details and accessed your account?

If it was truly hacked than almost everyone on the same platform/exchange (whatever) is at risk; if they used your login details then you have a security issue and other aspects of your finance may be at risk.

markj113

Did you have 2FA enabled?


Standard process is to never leave your coins on any exchange.

[Deleted User]

dealer_wins wrote: »

Reason no 255447 not to use bitcoin etc

Too much risk of it simply disappearing!

Must admit that argument is hitting home with me. Credit card gets cloned, used fraudulently, nicked etc and you pretty much phone you're bank cancel it and they give the money back.

Bitcoin nicked and its gone and no-one cares.

[Deleted User]

Terry_Towelling wrote: »

When you say, 'hacked' do you mean they got around the login security (which is hacking), or do you mean they had access to your login details and accessed your account?

If it was truly hacked than almost everyone on the same platform/exchange (whatever) is at risk; if they used your login details then you have a security issue and other aspects of your finance may be at risk.

Still trying to work this one out.

[Deleted User]

markj113 wrote: »

Did you have 2FA enabled?


Standard process is to never leave your coins on any exchange.

No - yes I am stupid.

To be honest, I'd planned to move them off and never got round to it. Most of my cryptos I'd already moved to my ledger nano. Glad I bought that or it'd be a lot worse.

Terry_Towelling

[quote=[Deleted User];75017622]Still trying to work this one out.[/QUOTE]

Sorry. My view on hacking is where an individual is able to break into a system by getting around the system security measures - they can then steal all sorts from all users.

Someone simply accessing your individual account by using your login details is not hacking (in my view) and suggests an account holder has had their security data compromised or their computer may be affected by something that allows others to see what they do.

So the point I was making is that if someone out there has your security info for your crypto stuff they may have more than that and other areas of your finances may be at risk.

markj113

[quote=[Deleted User];75017630]No - yes I am stupid.

To be honest, I'd planned to move them off and never got round to it. Most of my cryptos I'd already moved to my ledger nano. Glad I bought that or it'd be a lot worse.[/QUOTE]




You just need to be sure now that your system is not comprimised with malware such as a key logger.


You can try a scan with something like malwarebytes (free) but the only way to be 100% sure is a format and fresh windows install. I also use a program called "Zemana antilogger free" which encrypts key strokes to add an extra level of protection.

markj113

[quote=[Deleted User];75017508]Must admit that argument is hitting home with me. Credit card gets cloned, used fraudulently, nicked etc and you pretty much phone you're bank cancel it and they give the money back.

Bitcoin nicked and its gone and no-one cares.[/QUOTE]


Part of crypto is complete control of your money, the benefits being you can spend as little or much as you wish without having to jump through hoops for the bank to transfer or withdraw any substantial sum.



Flip side is you need to take security seriously and take responsibility.


Long complex passwords not used across the web on numerous sites, 2FA enabled on all exchanges and a hardware wallet adds peace of mind for not a lot of money these days (have the nano ledger S myself)


Also it goes without saying avoid the bitcoin doubler, get rich quick schemes and only participate in ICO's after some due dilligence and research.