Bitcoin Forum

The personal data of 9.4m Cathay Pacific passengers has been stolen in a cyber attack on the Hong Kong airline.

https://www.telegraph.co.uk/technology/2018/10/24/cathay-pacific-says-data-94-million-passengers-stolen-hack/


Maybe instances such as this will wake people up to the tangible benefits of using Bitcoin, blockchain and cryptocurrency-not being as vulnerable in an age of unbeknownst vulnerability.

It won't wake up the people but the companies will realize the benefits their company can have (security, efficiency, costs,...) Not to say some companies will have no choice to use the technology to adapt its activity around the tendencies. In the future, people will use the blockchain tech/crypto tokens without knowing it

Every system has vulnerabilities and can be exploited at some point or another.
There has been repeated issues of exchange hacks with people losing millions of dollars worth of cryptocurrency.
While these hacks are most times not directly linked to the blockchain technology it would still be related to vulnerabilities of bitcoin

Yes bitcoin and blockchain are safer but you have to factor in the human element.
Bitcoin and blockchain are safe to a point but some people are careless about their
own security matters. We all need to protect our data and also not trust third parties
so willingly with it.

lol @the bolded, how is that possible? :-\

When you make use of a system you know nothing about then you are totally on your own.

It won't wake up the people to take part in blockchain technology in which we still have attacks in the Cryptocurrency atmosphere, but in my own say it will be on a safe speculations to bring it down to blockchain technology crypto is the future and it has definitely come to stay.

It doesn't seem that easy to make them realize that the benefits of blockchain technology are very high, but with the time in the future, the big companies will not realize that they have used blockchain technology even though they refused. Technological developments forced them to use this technology to maintain competition

Why would a cyber attack be good for anything? It might be opening the eyes of cybersecurity experts for possible threats and vulnerabilities in such systems but all it does to the public is cast doubts on how data is being handled. Also, this doesn't do any good to bitcoin at all; the general public wouldn't even know the benefits of bitcoin and the blockchain in such scenarios IMO knowing that only a few people know about the tech. Hacks aren't good at all, and it does not benefit anyone except for the hackers themselves.

Well how can you say the attack on other network will be to the promotion of the use of cryptocurrency/bitcoin. Because we have also witness a great number of cyber attacks and hack of the some bitcoin exchange site and facilities so when it comes to scam and hacked attack no aspect of the financial system of the world.

As far as internet remains cyber attack is part and parcel of the ecosystem, just as we protect our houses, offices and properties ahead of time, let us also protect all form of digital asset. Owners of exchangers are like Government that vow to protect life and properties, The protection of users of any exchangers asset should be the priority of all the team members.

I think he's referring to the user end of things. What difference will you as user notice when PayPal for example uses blockchain technology internally? It's a benefit for PayPal itself, but the user will not benefit from it.

Regardless of how I think that databases are just as efficient, the hype around the blockchain makes businesses aware of how they can cut on operational costs, and they want to keep that private.

Only when businesses start to compete with each other by lowering the costs of the services that they offer, users in some industries might finally notice the effect of blockchain adoption. International bank transfers are definitely one of them.

Yeah it can't be avoided, as the technology rise the cyber attack wil also rise, this event maybe could rise people awareness but some of the crypto also used kyc, and its impossible to buy something like airline ticket without revealing your identity, maybe the answer for this case is not crypto because when crypto being regulated, we will need to provide our identity

using bitcoin might help in some situations, but in many cases won't make a difference. as pointed out here, credit card information doesn't actually endanger much beyond the ability to make fraudulent purchases---it only gives hackers a name and billing zip code.

you'll give away much more personal information and/or ID documents than that when doing business with eg an airline, even if you use bitcoin. same goes for having goods shipped to your physical address.

bitcoin won't fix the fact that businesses often require your personal information, and they don't protect it.

For this, we must protect that cyber attacks have strong security, and do not harm users. Blockchain technology has entered large companies even though it is not felt by its leaders, and this they have to admit and must have full security so as not to be exposed to fraud or hacking.

but also companies are requiring your personal information Because they are using credit cards,... in other words it is what the fiat world demands. but using bitcoin they won't need that kind of information anymore so in a way using bitcoin can fix that.

yes i am agree with you, mainly our security depends on us,we have to keep our data secure from others,and need to protect our wallet password.

Cyber attacks may be possible and may also make bitcoin more useful but it is a bad way, it is better that bitcoin can have price movements if there is a platform that starts accepting payments using bitcoin so bitcoin has an extraordinary development.

When I read the title then my reaction was like; what the ? But when I read the OP then it made some sense to it. Sure many things in this world get popular after they hit with the bad storms. I mean in this scenario if the crime rate increases and people suffer from the security concerns then it may happen that different financial institutes will start to use the blockchain technology for their safety. This way the world will start moving towards the blockchain and crypto graphs slowly slowly but gradually it may all get filled up soon. This will happen sooner or later sure. Good things come at the cost of worst incidence, so no one can tell.

Right what must be done is protect crypto wallets by doubling security to avoid cyber attacks that are increasingly rampant lately, because the good impact of cyber promotion will not stop its steps to work on an open wallet

I hate this type of mentality about something bad happening to someone is actually good for a third side.
Cyber attacks are bad for everyone and everything(inlcluding bitcoin/blockchain).Do you really think that the blockchain is unbreakable or immuned to cyber attacks?I don't think so...

This incident will make them adapt to a more secure system like the blockchain technology.
Blockchain in the coming years wil revolutionize business sectors specially when it comes to
their security and accuracy of information.

Sooner or later all of the big companies will be using blockchain to eliminate the risks that a
centralized system has been daunting everyone.

because blockchain technology is a technology that has many benefits, because with blockchain technology we can all make transactions easier and faster, because this technology is transparent

not at all because if you think about "cyber attacks" and things like that bitcoin is also susceptible to them when the normal people use it. the way it is attacked is different but there are still ways to "hack people". for example their wallets, spreading malware instead of wallets so that newbies install them instead and lose their money and many similar ways. so you can't say it is 100% safe and will solve the problems.

Cyber attacks aren't good for anyone. This doesn't prove that Bitcoin is better than legacy payment options either, because you're going to have to give your info either way especially if you're paying for flights. Heck, I could even go a step further and say that using Bitcoin can be more dangerous in a situation like this, because a criminal can potentially assemble a victim's financial profile through blockchain analysis.

This isn't a failure for traditional finance, it's failure for data safekeeping. If nothing else, incidents like this highlight the need to be wary of sharing personal information. Bitcoin can't help you if your data is already out there.

There is no perfect establishement even cryptocurrency is not free from the attacks of hackers and fraudster. We a bit happy at any one's down turns rather we can only give the advantages cryptocurrency has over other means of transcations

cyberattack is not good for bitcoin especially for large exchangers because this is very dangerous, many assets can be lost and reduce trust in the exchanger. but if you say that cases of attacks on conventional systems have a positive impact on the existence of bitcoin I strongly agree. the public will begin to realize that the blockchain technology owned by bitcoin is safe and can be an alternative to investing or simply storing digital assets.

Bitcoin isn't immune to cyber attacks either, mt gox is a prime example along with the many other exchanges that have been hacked. It's only good for those that know how to secure it in cold storage wallets

yes, someone will start to look at using blockchain technology that allows peer to peer transactions and without third parties that allow safer and minimize fraud and also cyber attacks.

Cyber attacks are never good, neither for Bitcoin nor for others. Only the attackers benefit from it and others take harm. Even the crypto system suffers from cyper attacks and hacks on exchanges or normal people with crypto currencys. So far no system is really 100% secure and almost everything can be hacked. Without hacks and attacks crypto would certainly be further than now, but many people have lost their crypto currencys and therefore left the crypto space. Therefore you should never find it good if a system is hacked or attacked, because the hackers can learn more and more and maybe do more damage. Unfortunately, every one of us can be the next victim.  >:(

This is good for the blockchain system and certainly in the future it will be implemented by several companies and certainly very good for BTC as their money storage but cyber attacks are very bad.
What are you talking about? Did you see the article that the data airlines were attacked by cyber,BTC is not vulnerable to cyber attacks it's safe and you can see the conversation in this thread.

the thing is bitcoin doesn't store any information about the user unlike others it will just show transaction history and what will they do with the transaction history how will the hackers use the information they have sure you can steal those coins if you have the private key but not the information of the user unlike credit card that have can be stolen and hackers will use your information to some shady stuff, coins is the only thing that is stolen its a huge deal to some people but it's better than having your money stolen + your identity, nah hackers can only bruteforce private key and do a 51% hash rate attack and reverse transaction which clearly wont happen.

I personally feel such incidents won't act as an catalyst directly, but indirectly the companies will look at alternate payments system as such hackings are bound to create fear in the minds of their investors. It'll be interesting to see if any major company decides to implement blockchain and crypto payments, but any global company that adopts it will face regulatory backlash.

One of the reason I started to use Bitcoin was because I lost money on fraudulent transactions that was done, when my credit card was used illegally for online purchases. I looked for an alternative payment option that was not storing my payment information and this brought me to Bitcoin.

This is one of the strongest reasons why Bitcoin is much better than credit cards for online payments. Nobody store any payment details in some exploitable database that can be hacked.   ;)

Gox could have recovered but it suffered from a mix of cyber attacks and mismanagement.

Attacks are always good because they're not allowing you to take your guard down and they're constantly testing your security. White hat hacking is a prime example of such testing. A business can survive hacks as long as they don't do too much damage.

That's the benefit of blockchain, it's immutability to hack but that's not to say that blockchain doesn't have its flaws since once information is stored on it it becomes impossible to remove it.

Sorry but cyber attacks are no good, it is giving harm and problem not only to the company that was attacked but to the people who has been affected by it. But at least this will open their minds that they have to increase and strengthen their security and blockchain would be the best contender if they have to upgrade. And not only blockchain but also bitcoin would get their sentiment, no credit card information to hack and will be stolen if they apply it.

There are cyber attacks every seconds in this world.
This is also why investors are afraid invest in bitcoin because it's in the internet. Everything in the internet are not safe.

Perhaps, it may be good as it may be seen as a good incentive to invest more in security around cyber attacks but its definitely damaging the crypto.

Common people will definitely use blockchain and cryptocurrency later but only a few of them are aware of it because there is no benefit they will get from knowing thi (http://renovasi-rumah.net)s, what they want is every of their business can run according to their will whatever happens in the back.

Most of these happening will draw the attention of these companies to adopt the power of the blockchain technology to build a solidify platform that will not be vulnerable to hackers. Though this might not be another way for these companies to accept the use of bitcoin rather the technology that's involve, this will give another shift/lift in the acceptance and adoptance of bitcoin.

Cyber attack is really dangerous for each and every institution but it's been a normal issue for this digital world and we have to take a better step for protecting our assets, private keys, and also make secure our information from cybercriminals. Cyber attack is a threat to bitcoin users and for blockchain technology, it is harmful, not good for BTC.

Many companies will realize the benefits they get when using blockchain, and eventually there will be many people using blockchain without knowing it.

The case is very revealing. I don't know about the others, but cybersecurity is exactly what I noticed in the first place. It's a shame when long works fly to the trash, when another fraudster drains your precious coins just because you blunted and lit up somewhere your private key. Be careful, use cold wallets and don't be scammers.

If users have been affected as a result of using digital products, in my opinion I think it will make them less likely to experiment with other digital services like bitcoin, as they are likely to get hacked again! Why? Because in the first place they might leave everything to btc to sort itself out when themselves don't use strong passwords, avoid password repetitions and were possible don't use 2fa....it's the old habits that's going to  haunt them!

I don't believe that attacks are good. They make people nervous and can cause som.e price-fall. Sometimes hacker attacks may succeed (like it was with Zaif exchange) and a loooot of people will lose their money.

It is not right to say that cyber attack for Bitcoin is very good. Yes it is true that for some time hacking sites online has taken a lot of bitcoin. But that was not easy to do. In the history of cybercrime, the incidents of stealing bitcoins are rare, only a few times the hackers have been able to steal Bitcoin. So it is not easy cyber attack for Bitcoin.

What has been breached is a exchange itself so obviously the target is the traders or investors money. I think those kind of attacks (stealing personal data) will force companies to adopt blockchain technology but not bitcoin per se. We all know that blockchain has a lot of advantages like security so I'm sure that many companies are doing studies whether to implement them not just for security purposes by to save money as well. This is really a unfortunate event, so everyone should act not re-act, specially companies doing services to the public, to protect their customer's data.

People are taking these things very lightly because they don't really feel them. Privacy, security breaches, tracking and so on - majority doesn't even notice that. Some people have left Facebook when its recent security breach has happened, but despite that it still has enormous number of users and is making enormous profits. Same with banks - they are very profitable and don't feel any pressure from crypto at the moment. So, cyber attacks are not really good for Bitcoin because their impact on Bitcoin is minimal.

Op only tell us there are some positive thing about cyber attacks, people sometime only see from 1 side and not in 2 side of a problem. A lot of thing in this world will have positive and negative impact and we can't deny that.

This attack will probably help more people understand the danger levels of criminals today. If they know about blockchain technology, they will certainly protect their assets more safely. Using bitcoin is also a way for people to keep their identity and not to disclose much personal information. You just keep your wallet password . Everything is safe for you.

Bitcoin went up when the crypto locker virus hit. I feel bad for the people that got effected though.

Then there come legalities wanting to stop bitcoin because they can't tax people using it. Because in the first they don't know who that is.

I don't quite understand how they will use blockchain to safe private data. Bitcoin is a public ledger right?

If they will only use blockchain as record of activity storage, where they will use keys/ids for each record/activity and keep the real records privately, isn't that the same thing?  ???

Bitcoin is prone for cyber attacks because bitcoin run as a digital currency.

Indeed, if you are using bitcoin or any other cryptocurrency you are absolutely safe from such cyber attacks because you won't give away your private keys to any government database. the only risk is on your side if you mistakenly saved your private key on your computer's hard drive and got hacked yourself.   

...lol it's unfortunate that it has happened..but i do believe it will have a greater impact on bitcoin!. The massive will now see a need to trade in anonymous fashion!

It's true so this whole thing is absurd and will just make traditional ways be so complicated.
More likely there will be no such safe place to store as the hackers are so just damn clever.
We never know if this whole hacking issue was an inside job or not. Things are getting shady every time.

Well as for the title, it confuse the hell out of me.

I do not see how that particular unfavorable mishap can affect bitcoin possible or lead to more mass adoptions

If we're to go that way,many users ought to have left the bitcoin platform,due to hacks that have happened on the system,scammers scam people everyday on this network,as well as malwares eating into people systems and providing fraudsters with private information
Top exchanges have been hacked with millions losing millions..

If we are to judge going by all this, don't you think people should be leaving the bitcoin network and embracing our conventional Fiat and with both arms

    Cyberwar is an integral part of the ecosystem. User protection should be the most important quality that an investment project should have. I hope that in the future there will be solutions to prevent these attacks, and that cryptomonade users will feel more secure about their investment, as they feel safe in their homes or on the street.

I think you've totally missed out on the point here, how in God's name is cyber attacks going to spur companies on to use the blockchain technology

Considering the fact that the bitcoin itself has fallen prey to such attacks in the past..
There happens to be no correlation between such attacks and the promotion of bitcoin...

One just has to protect him/herself from such attacks irrespective of what platform one is on...

I think, if the cyber can help bitcoin to protect every transaction in the blockchain from the attacks of malicious hackers, then it will affect the movement of the value of bitcoin.

so, sometimes they are needed to protect every block, but their existence is rare and anonymous.

hackers or thieves are criminal activities we should avoid. so double we take care of our acounts that they should not be able to hack just as hard as we can to them.

the account must always be secure in all transactions.

the blockchain was originally designed to protect information, while leaving the ability to transfer huge blocks of information or values

The greater the technology has crea (http://digitalasset.id)ted will return to its users, it’s designed so perfectly but will still have a gap when the user is reckless and doesn’t understand the technology properly and things like this will not spur blockchain usage massively because all of it depends on their leader.