Bitcoin Forum

hi there

BTC-$ price is high. when will the next "hack" be announced? and from whom?

i don't have an idea. but there is to much greed that this won't happen.

Well, it could be the case that someone decides to "get hacked", we have had so many inside jobs at this point that anything is possible, but we are reaching a point where it is now too obvious. If someone decides to do this again, they are going to go bankrupt and they are going to have a lot of pissed off people wanting their heads cut. If I had a business, I would never try to screw up bitcoin holders, you may piss off the wrong guy.

There was a hack announced on the forum today itself read it. Normally it's usual for this hacks to come during prices going up. It's normally the hand of the insider, who does it. And then they cry we got hacked. One of the members has already given a warning to remove funds from the exchanges and be safe this time round. Make your you do not leave money on exchanges.

Hack attacks could happen anytime regardles the Bitcoin price. Actualy I don't think that the price is crucial for attack to happen. Hackers would not just cash out the stolen Bitcoins they use it for different purposes. So I think that we can't tell where and when the attack will happen and that the cause is high Bitcoin price.

your topic is a duplicate of the following topics:
https://bitcointalk.org/index.php?topic=1732340.0
https://bitcointalk.org/index.php?topic=1733327.0
https://bitcointalk.org/index.php?topic=1737393.0

i suggest following discussions there and closing this.

Any exchange can be attack by hackers. Attack of hackers always happen when the bitcoin price is huge. So i expect there will be hacking incident may happen anytime soon. We all know that exhange are prone from hacking that cause a lot of losses. So to avoid loses. I think its better if you dont store your btc in a exchange for a long time.

The higher the price, the bigger the chance that centralized services would get hacked. I am waiting for the day, when Coinbase would

announce that they got hacked, because they are currently one of the biggest exchanges. The best way to prevent this tragedy would be for

people not to store large amounts of coins on these exchanges.  ;)

Hacking is always there on a daily basis, for sure the people involving with ransomware will try more if the price continues to claim. With the motivation to get the more bitcoins possible with the security breach they found. The exchange who take security seriously will update they code often, put the security measure in place to diminish the risk.

I hope that it will not happen just like other exchange site that actually attack by hackers but i do not know if it is true or not.. just like other said that it is an insider job.. maybe they are planning one of the exchange site to get down and say that they will hack that the truth is not just to sell their bitcoin and push again back to low.. so that people will panic sell and they will buy bitcoins again for low price.. if they bought and gain profit.. they will do it again.. just like in other exchange site what they are doing. .

You talking about "hack" i assume you mean some exchange pretending hack to seize all user funds?
Remember that with high price, they earn a lot by trading fees, they don't need "hack". "Hacks" happen more often on low bitcoin prices, when running business costs are high and earning from fees are lower.

this is a good point. i did not see it that way. lets see what will happen.

There was already a hack/ransom attempt on KeepKey hardware wallet December 25, 2016:
https://bitcointalk.org/index.php?topic=1737321.msg17379165

Saying how the price skyrocketed, people are at more risk using these currencies... It takes skill to do this, but what happened with SilkRoad & Mt. Gox will make anybody rich.

Hacking is getting harder and harder to do at each day... There's nothing to figure about the risk except building security before it happens. Whether this is a process or approach to saving BTC, it needs to be done.