Bitcoin Forum

Why crypto space happen to hack hack while its on a bullrun???
We've seen some of the massive hacks in this very short time period.Today also   But it doesn't happen in bearish market. Every time crypto has a bullrun.  Yesterday BTC Kept on Trying to Break above 6800 Resistance.. And today morning another hack on Bancor wallet.. Sespecious... Which is really effecting the current market..
But the Question is. Is the govt trying to manipulate and wanna  kill crypto??? That's why they are doing this???

Do you have any prove that the government is involved in any hack? Or is just independent hackers who do that as their business to survive just like you are doing whatever investment to survive too? This you have to prove.

Meanwhile, the reason for increase in hacking incident is self explanatory. Obviously, when price starts to increase, hacking brings huge profit rather than when price is low. It is that simple.

"crypto" is not facing hack!

it is the shitty random exchanges out there with little security that are getting hacked. and it is not new, this has been happening all year last year during the rise so it is not the reason for the drops either.

additionally this is yet another proof that altcoin dumps can decrease the price of bitcoin as the money escapes through bitcoin. we know that the Bancor hack was a full altcoin loss (mostly they stole ETH if I am not mistaken) and the altcoins were getting dumped hard all this morning and bitcoin was still up, after some time of altcoin dump bitcoin came down as they cashed out through bitcoin.

No government has that kind of brain, to hack into anything, they can just deploy some key-loggers at max, its independent hackers or groups that hacks into - just to show their strength and get rich.

Is that just a bold statement your making or do you have more indepth information that Governments are involved? Hypothetical speaking if that's the case then only a sufficient attack at the same time on 80% of the exchanges out there could maybe kill the whole market, not just one attack per week or so. Crypto is becoming a worldwide adopted phenomenon, you can't just shut down a worldwide market. More and more people use cold storage wallets to keep their coins save, so if one Exchange goes down they just use another to trade when they want. Exchanges themself use cold storage methods to. Manipulation of the market is something of all times, happens on the stock and future markets as long as i know for, crypto is no different, where there is money at stake big players will interfere to their advantage. Don't fight the market, just follow the price, it's the only truth! Stay safe out there ;)  

It might be a coincident and the government might not have anything to do with it. The recent hack in the crypto space are either due to the vulnerability in the exchanges that hackers notice and explore.

Guy where have u been the last few months .We been in a longer term  bearmarket since February

Agree with you why government will have any kind of involvement in hacking.

It is not possible that government is one of the responsible of this is just those exchange, wallet is that their security is penetrable also it is easily to be hack. As my self i lost almost $1k now of altcoins because i got hack yesterday, i havent notice since the hacker get all my coins in my wallet and transfer it to other wallet that is also a new wallet. Bullrun in bitcoin is there are possibilities that it is cause by whales and other organization . thats my opinion

Mayve it is just a coincidence. The security of the wallets and networks are not yet that tight. From those experiences, they will learn on what to improve on the security and their services. We can expect a tighter and stronger security next time. Soon Bitcoin and altcoins will rise to the moon.

Government cannot be involved an illegal act as such, the hack are from those I.T guys that has competent knowledge of Blockchain technology

Why crypto space happens to hack while it's on a bull run??? It's simple.
Governments are afraid of cryptocurrencies because they can not control them. The technology could hamper the bank's ability to comply with anti-money-laundering regulations, pose a competitive threat and force them to spend more money to keep up with the times. Central bankers risk endangering the stability of the global financial system by jumping on the bitcoin bandwagon and launching their own digital currencies in an effort to destroy competition from rivals from outside the official sphere. Cryptocurrencies are highly volatile, vulnerable to fraud and may give rise to “reputational risks” for businesses that get involved with the assets. If the digital money was issued by one of the major central banks, this could even lead to cross-border panics as capital took flight from riskier assets and financial institutions in countries experiencing turmoil and into state-backed cryptocurrencies elsewhere. Governments don't want you to invest in crypto but, are they really gonna dictates our lives? They try to scare us by hacking the crypto space, don't want us to make big money with bitcoins and everything, but we can't let them decide how much we make money! Making money with bitcoin is a great thing to do in 2018(check https://wikandor.wordpress.com/2018/07/10/make-huge-amounts-of-money-really-simply-with-bitcoin-in-2018/  to make money with crypto) and we won't let them decide if

It is not the cryptocurrency that is being hacked it is those exchange or wallet providers that are being hacked. I also think that there are fake reports on exchanges being hack but this is not always happening whenever the market is in a run for recovery. We dont know if governments are manipulating the price since we dont have a proof and we dont even know if there are governments that are investing or trading cryptocurrency so no one can answer that.

So you're saying that most of the hacking news are fake??? Someone is trying to manipulate the price by fudding right.. But who is that someone..  On recent govt regulations and bans are making me sespecious that the govt can do anything to stop crypto.. so they can also hire hackers right?

such news only affects the price temporarily and on a small scale. why would government want to affect the price in this way? what would they gain?

these services are shitty on their own. nobody has to do anything, and there is money involved so there is a good incentive for hackers to try them out. and most of these cases are actually false. the exchange scams their users and calls that a hack.

It's the other G not Government it's the Greed all exchanges do it out of pure greed, and now it's become so rampant that suddenly the community does not feel anything. That's why everyone here keeps on shouting stay away from exchanges they're no good, but yet people will trust them and pay a price. It's so easy in btc say it's a hack no one can prove anything.

Yes that's also a conspiracy.  Most of the small exchanges are not trust worthy for this reason though.  They can just scam anytime. that's why crypto is loosing it's trust in investor circle

Why is government necessary? There are many financial speculators who can manipulate bitcoin prices. This market does not have clear restrictions that are present in other markets. It seems to me that in the current crisis there are many components and governments do not play the most important role in the fall of prices.

Well of course unregulated exchanges are going to be causing trouble at some point. That's the risk we take.

Can not identify anything about bull run at the moment. That may be a good trending move when bitcoin is at ~ 6k8 and eth recovering ~ $ 500. Bancor lost after the hacker attack. The reason behind this is that the level of security of exchanges is becoming increasingly serious and alarming.

I don't think so. It's just that hackers are always on the lookout for any potential loopholes or vulnerabilities in an exchange before they carry out the hacks, You simply can't hack something without preparing or studying it, and in the price rises, you can't correctly time it or predict it at all times, so it's far-fetched that this is an attempt to demoralize traders and sell whatever they have. Governments, no matter how good their hackers are, simply aren't gods in terms of everything; it just so happens that some lucky hacker managed to full of a heist and get away with it.

It's called recency bias.

...or is it, even? I mean, the Bithumb hack only happened a couple of weeks ago and crypto wasn't recovering then.

This idea may be outrageous to some, but wouldn't it be possible that there are no grand conspiracies against crypto? There will always be antagonists, don't get me wrong, but you don't always need to point your fingers at someone or something. Shit just happens sometimes.

I don't really believe that the government have anything to do with the recent hck happening all around exchanges. Though this hacks are becoming something else. Governments eyes are set on cryptocurrency and will do anything to shut it down that's why they use media fud as their weapon. Individual hackers are on the lose every time. Remember that crypto is the new tech with the most money currently and hackers just live to find vulnerabilities in exchanges which they exploit, it's part of their job.

The government does not manipulate the cryptocurrency market. Most likely, the market is manipulated by large investors who want to force us to sell the cryptocurrency at a low price. Do not pay attention to such news.

It has some secuirity issues. But, it is gradually developing and it'll be developed very soon. So, let's hope for the best to happen

When hacker see it's in bull run,they think they will make easy money by hacking and get rid of those coin to fiat.But,it's the exchanger fault i think,they can't protect their fund and security must be top priority when involving money.

I am not agree with this statement because why government involved with this hack. I think some peoples are research about the market and find out how they can hack coins. Because these coins are so expensive. It creates a bad impact on this market.

I think the government has nothing to so with those hacks. They already know that they cannot kill cryptocurrency because they also need the technology to make their work more efficient. What they don't like about cryptocurrency is the decentralization.

Why are you blaming government?  ??? I don't think government has to do anything with this hacks. In bearish market hacking will not yield much so it is obvious that the hackers will try to hack it during bull ru to maximize their profit. I think we need to be very careful to prevent it.  :-\

A huge risk in the market of crypto currency is hacking. the reports of hacking increases when the prices of the currency increases, as the hacker can make a profit by selling off the coins. Usually the exchange sites which are unsafe are hacked, therefore investors should store their coins in safe wallets, and be aware from phishing sites

i think its not, government doesnt involve on it, its the choice of the hackers, at a certain time, many site got hack and millions of dollars has been get out in just an instant. hackers are every where, they coming thru without warning, meaning the security of every sites are weak to them, even you got improving your security and always update in into most update one, hackers can find another ways to get in into your security. this is not new. the only things that we can do is store your valued coins into an offline wallet.

I'm just saying these shits happens every time bitcoin began to recover itself.. So some news are saying government is trying to destroy crypto by these hacks. as they hate crypto currency..  It's a possible conspiracy of many people too..

I'd say it's infinitely more likely that exchanges are simply vulnerable to hacks because of bad security and/or bad protocols. This has been happening forever, and I don't think any hacking has ever been attributed to any government, except maybe North Korea. I'd also like to note that the Bithumb hack barely moved the market at all despite being fairly big news.

Also, governments have shown that they can place bans to throttle growth. That's a much more effective way of dealing with the "problem" if they truly hated it enough to stage very convenient hackings.

But you know, if you say that's your opinion, then I completely respect it. All of this is conjecture at the end of the day.

I do not think these are attacks from real hackers. These could be big traps from anonymous marketers who want to get worse in the next period. Investors should rate it and do not panic as things are not over.

thinking that governments are bothered enough to pay hackers to steal money from exchanges is such a delusive opinion that I'm not sure you shouldn't be checked by the nearest doctor

I don't know, it can be a coincidence but hackers are active 24/7 if they are targeting something big.

It only means that exchanges need to make their security better than any other. If they won't take action on these incidents, they might be next.

No, there's no government involved in hacking or if there is, do you have an idea on what it is?

IMO government is still learning about cryptocurrency and they are not able to bring any regulations yet, this shows government can not hack the exchanges. Hackers must be technically strong who is following all exchanges and when hackers tracks loop hole they are hacking the exchanges. There is also chance of exchange staffs involvement the hacking this has been happened in the past with mtgoxx. With so many recent hacks, Exchanges need to improve their security and be serious on the this issue as hacking can lead to loss of customers as well as brand & trust of the exchange.

The bitcoin will somehow make progress even if the market falls down. So no need to worry much. Hackers will be there always. but we, the traders need to be more careful for keeping our wallet safe.

Governments have a lot to gain, when the price are on a constant decline. It will slow down adoption and it will also get under the skin of the current hoarders. Most people are only interested in this technology, because they want to make a lot of profit. <speculators>

I will also not be surprised if large Banks and government sanctioned hackers are involved in these orchestrated hacks on exchanges. Some of these governments can even channel the proceeds of these hacks into military funding or to be used to manipulate the price. <pushing it down with organized dumps>  ::)

government don't get involve in this hacking and crypto are not the one that get hack but exchange sites. when hackers find flaws they will exploit it. exchange sites don't have perfect defense and hackers works everyday.

The government is not the reason why the market is falling now. The real reason is that the Whales who manipulate the price they are responsible for are all happening today. They now control the price of bitcoin so it quickly rises and falls.

not hack the bitcoin and the exchanges or store bitcoin. it's different. I think hacks will always be, just often few people know about them, and the fact of hacking report just when you need manipulation of prices

I dont think that government is involved in here. Everyday technology is developing and whatever technology you used someday it will be hacked by someone. So I think it always get hacked because this is the main aim of the hackers to hack big big technologies.As crypto is developing vastly thats why I think they are targeting it.

Hacking has become a really common thing now. It specially happens when the prices start to rise so the hackers can enjoy the benefit. I don't think it has something to do with the government.

We know there are hackers everywhere around us So, wherever and whenever they get a weak point they attack on it and get their job done. This is an on going battle and it will continue till Bitcoin/cryptocurrency exists.
Secondly as said when required to manipulate the price these reports are highly effective. They spear a layer of fear all around and then we see prices in red.

In terms of money in online we know hackers that they are in everywhere so why we are saying that government was connected to those hackers? Hackers was also hack the government wesite so why we saying that. Like what happening in my country that the reason why the government banned bitcoin just because of the huge value at they same time the government think that hackers and scammers was there so governmrnt is not connected to the hackers.

Whenever the market is going in an upward slope, it means that the market is profitable. And this indicates a sweet deal for the hackers, with ease. That is why the market gets prone to hacking easily. And the market suffers a lot because of it. The government has nothing to do with it.

I think to that scenario they want to earn why they hack the wallets or bitcoins if the government is involve into this massive hacks i'm pretty sure that they want to kill bitcoins to have an negative issue to create fake news because they want to earn money bitcoin surpass government and banks.

There is a lot of money in cryptocurrency, that is why everyone is trying to hack it. I think so. :)

Yes that's really an interesting aspect to be noted.Its logic to think that no hacker would be willing to hack exchanges when cryptos run bearish.

many hacked sites and millions of dollars have come out in just a moment. Hackers are always everywhere, they come without warning, which means the security of each site is weak for them, even if you increase your security and always update to most updates, hackers can find other ways to get into your security. this is nothing new. the only thing we can do is save your valuable coins in the offline wallet.

Crypto not facing hacking issues most of exchanges security survive & weak than hackers can easily do this kind of hacking but if u are talking about governments involvement than we need solid proof for this kind of big blame.best way is to secure our cryptocurrency we need to use hardware wallet. before hackers stills crypto fund but always happen with Exchanges we can say exchanges can be involve or responsible in this kind of security thread.

I doubt that this is actually the method that governments might use to slow Bitcoin's progress down. They can easily use large

"agency" budgets to create havoc with the Bitcoin price, if they really wanted to disrupt it. A lot of these agencies does not

divulge "sensitive" information regarding the use of these budgets and hides behind "national security" protection. Looking at

the documents that was leaked recently, you can see that "governments" have sophisticated tools that can easily break into

many of these exchanges and they have very capable "hackers" working for them, so it can be done.  :-\  

There is an involvement or not of the government in terms of hacking, all of us return it to the security system of our wallet which may not have guaranteed its security. We don't know whether the government manipulates prices because we don't have authentic evidence. This crime could have been committed by professional criminal individuals.

No, I don't think governments will going to involved in this kind of things and hackers are always active and try to hack because it is their job .

The only government that I know of who sponsored hacking is North Korea.

https://www.cnbc.com/2018/01/17/north-korea-hackers-linked-to-cryptocurrency-cyberattack-on-south-korea.html

But to relate the hacks everytime crypto recovers is absurd. And there's no data to back up that claim. Maybe its just coincidence, and I don't think that nations will sponsor a wide attack, they will not get anything out of it.