Post
Topic
Board Economics
Re: Cryptocurrency wallets: Can they be hacked??
by
John_Davis
on 20/08/2018, 20:02:13 UTC
No they will not be hacked.  The only way anyone can get your funds in these wallets is if you make a mistake with your security.  The algorithms that are used to secure these wallets are unbelievably secure. 
that's false dude.we heard many news that many exchange walllet hacked.and also cryptocurrency wallet too.few days ago many people claims that their balance in myetherwallet stolen.

Ok buddy but there's a big difference between an online exchange and a crypto wallet. If you keep your own wallet in Electrum, Core, etc. like the OP said, you cannot possibly be hacked unless you are careless with your security. Exchanges, on the other hand, are quite susceptible to hacks because a lot of them don't practice good security. They might have 2FA, sure, but that's not a guarantee. There's always a back door in which is why there needs to be fraud prevention specialists on duty 24/7 at major payment systems like PayPal and banks. I highly doubt that these exchanges are paying to have competent fraud prevention specialists sitting and protecting their exchanges 24/7.