Bitcoin Forum

It seems to me that if you are a hacker and you have figured out how to hack some Bitcoin company you do not have to act at once and can wait. Wait for the Bitcoin price to increase so you can make money of your hack. I have a feeling that more hacks happen is the price is relatively high.
Some will argue that it is the other way round and the high price attracts hackers, but these things need preparation and do not just happen over night. Also some might not have the patience or the price is going nowhere, but a smart hacker would take the risk and wait some time.
So right now would be a good time for the next big hack!

The possible reason why the hackers attack when the price of bitcoin is rising its because that is the time when there are many transactions occurring and the management of the sites were to busy accommodating the transactions of their client and leave a blind spot. And that is the time the hackers attack are unnoticed. And also possibly some sites steal bitcoins themselves and told their clients they were under attack by hackers. At this time it is easy to say it is inside job rather than it is being hacked. When a company declares that they are being hacked when bitcoins price was high is very fishy. This is just my opinion, but you are right in saying hackers activities are well planned.

An attack.Hack can happen anytime regardless of the price. i doubt any big hacking incident will occur majority of this hack are inside job and not from the outside.

If a major hack occurs, then it will affect the reputation of Bitcoin and the exchange rates will go down. It is a vicious cycle. First, the exchange rates rise. After that, the hackers become active, attracted by the high rates. And finally, the exchange rate crashes, after major hacks. Back to ground zero.

Yes sure it can happen anytime and sure some or even many are some kind of inside jobs, but as a hacker you can choose the time of the hack and i just figured that a smart hacker would wait for a high price so his earnings are even bigger.

Do you still think only a major hack of that intensity is about to happen,we have seen many hacks over the years and even last year we have seen many hacks in all the major exchanges and those hacks wont dent the reputation of bitcoin but it will dent the reputation of the hacked exchanges.

It is just a minor set back. just like when bitfinex was hacked last year, the price went down a bit for some time but it bounced back. As long as the one hacked are the sites, then the price will bounce back. But if bitcoin or blockchain is hacked, then that is a different story. But I doubt there is a hacker right now that can hijack blockchain and compromise bitcoin.

Price makes thieves or hackers even more tempted to do it. I agree with you though that it's mostly an inside job: why would they close the website by giving the users their money back and then going away with the profit (probably a few thousands), when they can not give anyone their money back and run away with MILLIONS? The worst part is that governments have nothing to do about it. I know Bitcoin should be anonymous and stuff, but this is all I would like the governments to do: just do something about Bitcoin ponzi schemes and scams.

I just wonder that hacking is that easy like waiting for a price rise and then making it ? You people over estimating hackers. They will work on opportunity and will surely attempt for bigger lump sum but definitely will not wait/delay.

Like someone wants that some big hacker attacks happens on an exchange or something so that price could go down. I'm sure hackers have their own plans how and when to attack and this could be the less expected. Besides I don't think they count the price of Bitcoin so much, they have also other goals and reasons, not just financial gain.

even if you wished to hack someone for bitcoins, if you were hacked as the same, your benefits on hacking would be gone, that is not a good idea.  :-\ why don't you get the time on others regarding bitcoin? ???

It may be good for hacker but not for bitcoin holders/users, nobody wants a big dump right now other than few that have already sold their holdings cheaper and want to buy back at the price they have sold it in.

And talking about big hack, i think most of those hacks were inside job from trading platform as no one can look inside what has really happened that breach their security systems.

Even without this price increase, expect some possibility that hacking will take place.

So better be cautious all the time and make some ways for your coins to be secured. Price increase is just the best time for hackers to hack but don't take it easy when there is no price increase.

Of course i am talking about now being a good time from the hackers perspective and you could expect a drop in the price. What some do not seem to realize is that it does not matter if it is an inside job or not. The coins are gone and now would be a good time. 

Though when the price is not as high as this there are really a ton of hacking incidents that happen, lot of exchanges and wallets been hack and how much more if the price is at high like this. I do agree we should just add more security about our bitcoin and in our wallets we should be careful about it.

The hacking of computers is a crime. It is often glamourised in films with individuals portrayed bring down huge companies for the good of the people. In reality it is a serious offence when certain government databases may be hacked or private companies are hacked for the purposes of fraud. In this case stealing bitcoins to have material gain.
It`s a criminal act, and with this hack many of us will be in the problem. Instead to go up, we will drop again. Instead you to find a way to stop it, I have a feeling that you call for that hack.

argument you make me laugh, perhaps because of the high price of the BTC will conduct transactions with vulnerable and at risk of a hack, but what people believe about bitcoin hack our site, it is impossible hacks but scams circulated widely

If any hacker find out how to hack any trading platform i think they will try to hack it as soon as possible because those platform may find those security holes in their regular security audit and may be it will be impossible for those hackers to hack it. So i don't think they will just wait for price bump to hack any bitcoin related platforms/services.

While its funny, its really a good time for a hacker to find vulnerability for bitcons. And if they are smart enough they can work with a huge bitcoin exchange to set up a hacking incident and the exchange can declare thu are hacked.

Good to know that hacking was a crime and how many crypto currency hackers have being caught till now,zero in my knowledge and there have being more than a hundred major hacks in the bitcoin world.The possibility to catch them are really slim unless and until they are foolish enough to keep some trails.It is the modern way than the age old heist with guns and violence.

It will happen, but the only question is when... Every hacking incident has been nothing more than a well coordinated attack by wealthy individuals operating from several major exchanges. In reality there is nothing that is getting hacked as everything happens from within these exchanges. It's just easy to blame hackers as they benefit from the mostly anonymous nature of Bitcoin. People take everything for granted, plus the fact that the FBI and other related government forced organizations are lacking the knowledge to properly research everything in terms of Bitcoin.

I am sure that if you are in a position that you have found a way to hack a major amount of Bitcoin it is tempting to do it quickly, but a good hacker (not a white hat, more in the sense knows what he is doing) will first make sure he will not get caught. So he need some patience anyway and will have some time to think. Let us say he found a loophole that is quite old. Should he really be worried that it will be closed the next day? Or would it be a calculated risk to wait a bit longer and make a ton more money.

This hack that I am seeing all over the forum, it seems we are even the ones calling for hacks when we are the ones to be hit the most when it eventually happens. Because it will definitely drive down the price of Bitcoin which might even take another year to recover but for the hacker himself, he does not care even if it falls to $100 since he is getting free money after all.

Some big hacking is coming. I even feel how hackers are working to open some site. But I would also notice that protection of bitcoin wallets and exchangers became stronger. But as we know nothing is perfect.

Hack time is also ever happens few years ago, when bitcoin price touch $1000, some exchange site have compromised. There's also have a possibility next hack effort will happens, especially with bitcoin price recently rise.
Time by time the company site who run bitcoin service must upgrade their security, hiring expert people will not hurt their revenue I think.

Yup, it sure will be done by hackers if indeed bitcoin has become a worldwide digital currencies and much used by the vast majority of people in this world, let alone the vast majority who use the bitcoin is those who did have a lot of money in the world. But I am confident that the system will never be in the bitcoin take over by hackers, because in the bitcoin system I noticed that only the original owner bitcoin could unlock and find out the weakness of the bitcoin. So in order not to be exposed to hacker attacks, then we should be able to protect the wallet that we have properly and at maximum
 

In my Opinion, if im a hacker even if the price is too low i will hack what I can hack. Then i will send it in another bitcoin wallet and wait the right time to convert it. And this is not a right time , ofcourse if you have many btc you will secure it now when you will know that the price of bitcoin is high.

I think hackers does not based their right time to hack some company or some sort in bitcoins price . Even if its low then they can just wait since it will increase in time . They can hack anytime but if some hackers like to wait for some opening to make their job easier it is when a site is having technical issues or something .

I would hope that all the major exchanges have learnt serious lessons from what has happened to other exchanges in the last few years, and have employed proper security measures plus some insurance.

Of course they may all be run by doofuses who are too dumb to learn from experience - lets see how this plays out.

I don't believe in hacks anymore well most of the time. Sanfrancisko metro hacked I have high doubts it has been an inside job. Major exchanges hacks I have high doubts they have been inside jobs also. Primedice hack, don't know I am 50% for an inside job and 50% maybe a real hacker.

Based on such statistics, hacking is not easy, it's the people who are given certain power and privileges who do such nasty things because all humans are greedy by nature.

I agree with above comment. There is always a hacking risk. Best way to prevent loosing your asset is keeping your investments and trades in your own wallet.

Though it is right that the chances of occuring big hacks during a high price of bitcoin are very high because they know they will probably get more money in dollars if they hack bitcoin in the current price, but i personally don't think that a hacker has enough patience to wait for months for just bitcoin price to rise so that he can start his hunting, but they just do it whenever they want regardless of the price.

I think Hacking is more common with High BTC prices because the Hackers get desperate that they are "missing the boat". If they had any real business or skills to offer the world, they would be earning Bitcoin legitimately instead of risking JAIL for breaking the law.

The Bitfinex incident happened right when the bitcoin price was surging... then we bottomed all the way down to 450 dollars. Of course intelligent investors used that dip as an opportunity to load on more cheap BTC, but a lot of people aren't intelligent and will succumb to panic selling. I know a lot of guys that lost their bitcoins on that Bitfinex august drop and now they are with empty pockets looking at the 1000+ current price and hating themselves for selling at 450 ish..

no doubt that it is a good time to hack a company that saves bitcoin or works on bitcoin. and then what? do you mean by posting this thread to invite hackers to hack a company or bitcoin or kind of Thing? why prefer to announce this thing instead of giving suggestion to secure bitcoins from hacker?

Haha I think it is right to think so. This is what happens. Bitcoin reaches a peak and then it goes back down because of a hack.
This is what happens when the big boys pump btc.

Yes, these are dangerous times, hackers are more greed than never to steal some bitcoins and make their illicitus profit. Some of them are very skilled and can invade some sites, like the exchanges.
The worse is that they never are caught and arrested. They are always anonymous, can steal everybody and vanish in the end.

Nope, The price increase isn't always good timing. They just try to hack if there is any bug from the site. They won't do that if they don't disclosing the bug by the site. They won't care about the price of bitcoin although it's free money in his perspective. 

Exactly. Any hacker capable of getting into an online exchange would surely know that bitcoin had value long before this recent surge in price. It's not like it's all over the news all of the sudden either. Sure there is slightly more coverage on news networks, but not an extreme amount.

I think hacking occurs anytime.  Hackers when find a glitch on any system never wait for the price of the item to increase to start hacking.  They must act fast because the glitch may have been patch and they can't exploit the security weakness anymore.  So regardless of when, hackers hack as soon as they found the way to hack the system.

Hackers need great preparation and time to get the big fish but you've a point that it could be come from a man inside.
And the first target must be other exchanges as big fish due to what had happened in the past.
When the price at this point, all platforms that holding big amount of bitcoin should be extra careful imo.
For me, I like to stay away from them just in case but hopefully there is nothing will happen relate to hackers or the price will fall down again.

Exactly.
You will do reconnaissance, find your weakness, make your preparations, and strike.
The price of Bitcoin at the time will have nothing to do with it.
Unless, of course, the rise in price created some greater amount of transactions, or more traffic to the site which would help with your attack.

If you could hack bitcoins you would do it whenever you could because 1 bitcoin will always be 1 bitcoin. The price is really irrelevant when you're talking about hacking 10mil vs 100mil. Everyone wants that amount of money, only the very good hackers can ever hack that. If you waited for the price to go up to hack then they would have patched it because in the time between you finding it and the price going up would be someone else that found the security breach.

How can one differentiate between a inside job hack and a hack from outside in an exchange? Just as bitcoiner

Exactly, you can't. This is why Mark Karpelès was only sentenced to a year in prison, and he didn't even serve that.

Thats what I believe too on which most hack incidents are made in the inside and they just make blame that it came from the outside on a hacker.We cant really know the truth behind those previous hacks that happened.The thing that is being mentioned on OP is very true and anytime we could able to witness that,infact I do pray that this ting wont happen so that we wont dip again on the price of bitcoin.

this could be happen if the exchanges not secure their site and they don't know nothing about how to fix the hole or bug of the site. but i hope this would not happen because too many people is investing their money in bitcoin and they hope that can make profit with increasing of btc. for the exchanges, i hope they can maintain their site so they can prevent the hacker attact.

No need for price increase for hackers to execute their hacking "once all was set to 100%" and all things associated in their scheme are being prepared and ready to go. Besides if the purpose of hacking is to hold bitcoin after it was done then no need to wait for a price surge.

So all the time, a bitcoin user must do anything to make their coins secure especially those who has some big amount of trading funds in an exchange site. It's easy to say for some exchanges that hack has been happen in their system but the fair point is selling those funds then purchase it right after a succesful dipped that they triggered.

I can assure you that as the hackers get smarter and having access to stronger hardware and software the same thing can be said about big companies doing daily businesses and trades with large amounts of bitcoins.
Something every one should know is the fact that all these hacks beside of an inside job involvement, they have nothing to do with bitcoin's security and blockchain safety and bitcoin is only there because no banks securing them by insurance and no government agency would care to take action legally unless they are regulated but even so strength of blockchain and bitcoin protocol is so almighty that once bitcoins are stolen even knowing their place and watching over the addresses containing the stolen coins they can not do anything about it. :)

You said that hacking is easy to do. The security of bitcoin is very hard to hack moreover the developer always increase security of bitcoin. Hack bitcoin only can do by professional hackers.

We are not talking about hacking into Bitcoin itself because that thing is really an impossible thing to do as of now because its hard to crack the codes.Even those professional hackers would really have a hard time on doing it and besides we are talking here about hacking exchange sites and other investments that do have huge funds on bitcoin.

Would there be any specific reason why you want this to happen? Are you by any chance shilling for the competition? I would not hack an exchange when the price is high, because volumes are smaller during these periods. Most people dump smaller amounts of bitcoins onto exchanges when the price are high, because they know that exchanges are being targeted during these times.

When the price is lower, more coins have to go through exchanges to increase profits, so the ideal time to hack an exchange would be when the price is lower.

On the other hand, more people dump coins that were previously hoarded in cold storage, so this might just cancel things out. ^hmmmm^

Let the dogs sleep, we do not need to wake them now. ^smile^

Yeah. Hackers don't care much about the price, even though they don't mind earning some, they really just want to hack the site. The attack could come at any time and you wouldn't be able to tell just by the price of Bitcoin, or something else.

lol, first of all I dont think hack gtc is so easy to do it whenever you want, at the other hand there is a second problem, if someone make working btc hack he will not sell it to others , I dont think so, and 3. btc is well protected to able someone hack its bases

you can't hack bitcoin, or the address directly  if that what you mean no matter what tool you have, the only way will be putting at dangerous the ecdsa which is one of the step for getting the private key, with quantum computer

but you can hack an exchange like it happened many times already, because of their incompetence, but i believe it was an insider all the time...

How the f**k people think i am begging for a hack. Like some hacker would read this and suddenly start working, because now he thinks it is a good idea. If anything it is a reminder that you should pay extra care to your coins as many newbies and oldtimers are drunken with joy.

Some hackers are move for money reason, some are move for idealism. For bitcoin hack, both types of hackers is exist.
For "money reason" hackers, I see it is fun to get big amount of btc to your wallet for free. And as you (op) said, now the price is a good point to make a move.

true, I suppose some hackers, return target companies bitcoin as their target. bitcoin see prices rising so fast, it's an opportunity for them to benefit a lot, just as happened in 2013 and 2016 ago. however, I am sure, with no two events are almost the same, surely bitcoin company has designed security systems that they have, so it will not easily penetrated, by a person or a group of hackers.

Hack can happen anytime, even the price is still half of the current if a hacker has an opportunity to do his thing he would do it easily. I don't think we can be hack if we will just ensure the safely of our holdings, it's our investment so we must take care of it.

Due to the past hacking incident, I'm sure most of us if not all have already learn our lessons.

hacking bitcoin? it's mean you want to hack the whole bitcoin? that's probably impossible to be done lad

You can"t find here. The forum doesn't serve that purpose but to prevent it.

I think the hack happens internally. When the exchanges steals the coin, and they can short and claim hack and get more money.

I Think there are precautionary measures that are highly priorities by certain bitcoin companies and bitcoin wallets providers in the time of a highly level of bitcoin value and they are very ready for this kind of incident I think that hackers will have a very hard time cracking in on some of that companies because there are highly trained hackers for defensive strategies against other hackers!

It is hard to hack big financial or Bitcoin trading companies because these company has high security measures. But hacking can be done by giving bribe to internal employee/manager/CEO of the company. So maybe new hack is coming soon as soon as Bitcoin price reach at $2000.

It is very hard for hackers to exist since the bitcoin is very secure and has many advanced security features and passwords measurements, because of how different the baking system from the bitcoin wallets, it is hard for hackers to hack wallets, since they don’t have a constant address, the only way they could hack them is if they hack the user’s pc and even then they still can’t not pass the password system.

Nobody (at least not me) way saying that Bitcoin or an address will be hacked. It is not so hard to hack someone or a company if you know what needs to be done. The hard part is to find out what needs to be done. This is a lot easier if you work there. Well in any case this thread did not serve its intended purpose, so i am going to close it.