Bitcoin Forum

Hey everyone ,
I think that everyone already knows about the recent problem etherum had, when some hackers tried hacking into the blockchain system of etherum and actually succeed, they did overwrite the transaction history and one should remember that the hackers since 2017 have stolen 2 billion dollars worth of cryptocurrency now , so our long said *non hackable cryptocurrencies* are now getting hacked and to all those people out there who really thought that the classic Bitcoin was good enough , I think we should reach a common point now , Bitcoin needs to reevaluate it's shortcomings and then work forward to make enough advancements so that it becomes stronger day by day.
Also no matter how complicated the problem is the solution is always logical, no matter what we do today 10 years later there will be logical shortcomings noticed by some.
It's time for advancements now.

Feel free to check out the link for more information on the hacked etherum classic'

https://www.technologyreview.com/s/612974/once-hailed-as-unhackable-blockchains-are-now-getting-hacked/ (https://www.technologyreview.com/s/612974/once-hailed-as-unhackable-blockchains-are-now-getting-hacked/)

Just like what they say, no system is safe. Hackers will always find ways to get their way into any systems. However, bitcoin and any other altcoin developers never stop on looking after on their short comings and making improvements and counter measures for it.

nobody has ever said that.
the correct statement is "bitcoin is not hackable" not all cryptocurrencies.

and just because some shitcoin that has had lots of exploits as small as broken wallets to as big as broken multi signature design and lack of immutability and roll backs and exploitable smart contracts,..... gets exploited every now and then, you can't conclude that bitcoin is also the same!

Bitcoins blockchain is different from those altcoins. Devs of those altcoins are not improving their blockchain while in bitcoin those vulnerabilities are being addressed.

That's right, developers will always make improvements on the blockchain. So that it will narrow or eliminate opportunities for attackers

cryptocurrency and it's tech is baby my friends.i agree that hackers always will find a way to reach the system but it will get harder with every update.this is the cycle.

Blockchain is unhackable when all precarious are take care of and mostly these attack’s are on wallets and not the blockchain. People have suffered attacks because of a noticeable loophole by an insider or a trailing outsider. Warnings are being given about this everytime so people need to pay attention.

Funny how a single case lays the foundation to generalize that 'blockchain is hackable now'. It is 'hackable' since the beginning, the question is how and when it will happen. And btw, it was an Ethereum blockchain that was discussed, not every single blockchain that exist out there and especially not Bitcoin (why was this on Bitcoin Discussion?).

We should stop generalizing like this, just conclude based on the fact that we found, not overgeneralization that has lots of logical fallacies.

It is not impossible that blockchain is hackable now because on what technology that we have is high technology and hackers are have so much knowledge in entering in every system that they want to hack. The only thing that we do is to avoid of browsing in the unsecured site and avoid open your personal account in other personal computers and other cellular phones.

it is not stupid, it happened a while ago. OP found out about it today!
and investors do pay attention to these things a lot but the problem is that ethereum (whether the original chain or the fork) is a pump and dump coin and these types of coins do not move based on what investors think or do. instead they purely move with the decision of their centralized power in control of the pump and dumps until they die for good.

It should not be generalized, just in case there is a new blockchain technology getting hacked then we can say that all blockchain technology is hackable. Every developer of the new blockchain technology should be able to give the best security system so it wont be hackable. In this case, there must be a small bug that can be maximized by hacker to go deeper on the system and able to steal the coins.

Not actually. It is a 51% attack which could happen to any blockchain that does not have enough miners in it. They easily did it because ETC have very low hash rate. I would like to see them try that with bitcoin.

If blockchain is hackable, we don't need to trust them.

Every coin has their own blockchain but as long as the foundation of blockchain is hack free, people will still trust.
Bitcoin will remain the king in the market because it's secured, they have to understand whats the difference of a company that uses bitcoin
from bitcoin itself which is the system, if it has flaws of being hackable, people would not trust it.

Bitcoin is one of the existing digital financial systems. And there is no system that has no loopholes, even large systems like Google still have security holes, but it hasn't been found yet. No one can guarantee security in the digital world, all are vulnerable so be smart in maintaining the system.

That was C.L.A.Y's famous tagline ;D.

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Anyway, going back to the topic, every time I hear some news about hacking incidents everything is the same. Someone hack one's system, stole the coins and instantly vanish; end of story. But this one is very different because it's not a typical kind of hacking but a manipulation. The suspect/s got a very high volume of hash rate making them able to control half of supply of the coin. Hmm, actually i can't fully comprehend the meaning of double spend but it's amazing (alarming at the same time) to know that you can make a transaction from that specific amount of coin and use that amount of coin again for another transaction (am I right? ;D).  

This is the problem. People love to generalize stuff due to certain specific scenarios like the one op mentioned. Oversimplifying stuff is something which we just love to do.

This guy comes out of nowhere and declares that blockchain is hackable and we are all supposed to believe it. Lol. Improve your knowledge op.

Even if the "front" value of bitcoin is given by the markets, its true value is given by the blockchain, or rather by its PoW which is not, in fact, hackerable. Unlike all the other bockchain of the altcoin.

I hope they can improve more so that hackers will stop hacking any systems that have money/bitcoin involve with it. It is really hard to trust online systems but for me, I need to depend on it because this is only my way to earn something for my family, at least I can help even in a small amount that I can get here. Hopefully, I can also improve my earnings here online and hopefully, security will more improve in the future.

This is a proof that there is no system is safe .
But they could always upgrade their system to prevent this from happening.
This would surely be a huge lost on the clients trust if they couldn't handle this or upgrade their system.

First of all everyone already knows most possible vulnerabilities of BTC and we can see if for example blockchain got centralized and some pool is trying to overwrite transaction.
 In case with ETH I don't know the details but I guess that was not a hack. If someone got a chance to overwrite ETH transactions then ETH price would drop to zero in a single moment.
About OP's statement about stolen 2 billion. It is also not valid here simply because those money were stolen from exchanges or ICO hacks where. That happened due to unsafe work of 3rd parties that were holding those coins and not because of blockchain vulnerability.

a 51% attack is NOT a hack. it is an attack. and it has happened to an altcoin with low hashrate which is not even the first time that this happened. basically every month or so another altcoin is attacked this way simply because they copy bitcoin while not understanding what they are copying! bitcoin works with PoW because it is the only currency that matters and people want so it has the highest hashrate and is way past the point that it has become expensive enough to make 51% attack simply impossible.

Since its start, every financial sector is abused by hackers. By the time, founders of a financial tool or value work on weak parts of founded sytem and make it protactable to hacker. It is just a process goes for bitcoin, too. It is a normal thing and developers work on problems that we recently have. 

I think you getting it all wrong.  The fact that other altcoin have small vulnerabilities does not make the entire blockchain and bitcoin hackable.  Bitcoin and blockchain still remain immutable

I don't believe this. Maybe this is just a small flaw that appears when the code encounters changes. I believe in Blockchain technology and if hackers can do this, Cryptocurrency has actually been destroyed before.

That is right. With that idea, it nothing but just an illusion or opinion. That is not that too easy to happen that the whole or the entire blockchain will be hackable. And jus like you said buddy, the entire Bitcoin community will remain and still be immutable.

The development team of bitcoin is making necessary measures and they are always moving forward to address the issue. So don't say that bitcoin is or its blockchain is hackable because they are different from among other cryptocurrencies.

Bitcoin is perhaps the most secure blockchain and has never been hacked. Just because there are weaker blockchains out there does not mean their vulnerabilities apply to bitcoin. Now, it's true vulnerabilities in bitcoin have been found, but they've been patched.

Well there are always great hackers out there that capable of doing such things, all we can do is trust the regulators of bitcoin(US Financial Crimes Enforcement Network) that they would further improve the system leaving no holes for these hackers to get into.

Also what we can do as a community is to protect the success of bitcoin by not abusing it.

Security is an involving issue and no system is safe that is any system can be hacked into no matter the level of it security, and in the area of security I will give bitcoin 90% score because apart from the various exchanges and wallet developer's that have been hacked in the past bitcoin it self have not hard any record of hack before.

You have to compare Apples with Apples, when you make a statement like that. Just because a small Alt coin suffers from a lack of hashing power, does not mean that Bitcoin with huge hashing power will suffer the same fate.

Every coin has it's strong points and it's weak points and so far Bitcoin's code has been rock solid and no mayor breaches or exploits have been found. <A very good track record since 2009, when it was released for the first time>  ;)

Ethereum is nowhere near the same as Bitcoin, so you are not comparing Apples with Apples.  ;)

We all know tha phrase "No system is safe" they will not say it if its not real,if youre new to hacking issues and you think that blockchain is very secured that its unhackable youre wrong,even microsoft got hacked often so hackers can easily find a hole in your secutiy

don't compare warm with soft here
etherium had a lot of vulnerabilities same as ETC
blockchain is not something immune to hacks , since there are money there will always be people who want to steal that money
digital money is no exception , in fact some even prefer to try and steal them because of the grey zone cryptocurrencies are in at the moment
and a relative easy to convert them into cash or transfer
it deosn't mean that bitcoin is hackable , two crap coins attacked - serves them right

Eterium should take a nassary step for the fact.But bitcoin is mostly secure better than Etc.my concept Bitcoin is not hackable from blockchain at presents a not looking or hearing bitcoin hacked so everyone should fallow security system.

You are right. Developers always try to improve their technology. Every owners wants to safe their assets . But hackers are always developing their way or system or technology for hacking.

In that case, a similar threat to Bitcoin is very insignificant. No single mining pool is having more than 20% hash-power and it is near impossible to get to 51% with BTC. But it may be possible to do that with some of the smaller coins, such as Litecoin and Novacoin.

Satoshi did fix that already in Bitcoin before and it is almost to perfect that it is unhackable, but those new altcoins are not Bitcoin. Their developers need to expand and gather more knowledge about cryptocurrency about the complexity of security and quality services. They may hack blockchain but not Bitcoin.

I believe that with our technology, no system will be secure. Because sooner or later it all breaks off sooner. There is nothing eternal and stable, except gold.

I mean Blockchain system will never hackable. This system is Causing stir system of the world. This creation is unic and naver hacked.  

How you can be sure about that? The creations is unic but that dasn't means hakers could not breack the rules, give it a time and you will see!

Ethereum was blamed quite a number of times for the poor quality of the code. I somehow doubt it became much better since then.
Bad code can easier hide bugs in it. And bugs can be exploited.
On the other hand, Bitcoin is praised for the good quality of its code.
And with all this, Bitcoin had some big flaws even in the recent history. But they were fixed before anything bad happened, at least that's what we know for now.

Other coins, it depends from one dev team to another. Bugs can be inherited too.

Of course, nobody's perfect. I think that a good measure is also the speed of fixing the problems if they occur and how bad the problems are.


Then there's the 51% attack. That'a also a "hack" of the blockchain. Well, the smaller the coin is, the smaller is the difficulty (and expenses) to build a 51% attack against it.
But 51% attack needs to worth those expenses, and usually that doesn't happen (why would one spend 10$ to gain 7$?).

Why would they do that? In case they manage a 51% attack against Bitcoin, then the currency will become worthless in a matter of few minutes. What they will do then? All their investment in to the mining rigs will be gone and everyone will be bankrupt.

Maybe now it is difficult to organize it and maybe there are no such powerful specialists and computers. But I think that in the future it will be possible.

Completely agree with you.
Don't you think it's like comparing a normal pizza with double cheese margherita. OP is like why doesn't the normal pizza(shitcoins) taste like double cheese margherita(bitcoin).
Dude, that's because the recipe(code) for both is totally different.

Bitcoin's developer was Satoshi(a genius). Today's developers don't even think of the possible flaws they might encounter in future and start developing the product.
So the exploits are inevitable.

So far cryptocurrency and blockchain are technologies that have the highest level of security because it's impossible for hackers to turn off all computers connected to the blockchain network can be turned off at the same time. As technology grows increasingly modern, hackers continue to try and try to exploit and explore the blockchain gaps, shortcomings and weaknesses as proof that they still exist and don't remain silent to see the system weaknesses that the blockchain has. But that's the reality we must accept, that they will continue to exist forever. Hopefully, the crypto developer can fix the existing gap, so that the worries that hit the users, can be muted.

Blockchain hackable now? No, bitcoin wallets that is part of blockchain, is hackable. And it is not just now, it is for the first time it was implemented. There were a lot of wallets got hacked.

I think blockchain can't be cracked but, and indeed we know for ourselves that hackers are very disturbing and make you nervous, we have to be more careful in managing crypto coins.

The 51% attack can be pulled if one can prove hash rate. I don't expect to be acquired by exploits found in the code, but can be acquired in many other ways:
* flaws in pools / pool software
* viruses/malware containing mining software
* coalition of poos owners (but this would be bad business, so the chance is slim)
* simply buy hash rate - this has happened already, I think

So you are right, it's not necessary to buy equipment for that. No sane people would invest in equipment for an attack that should not last long, else it has no effect - the longer the 51% lasts, the easier it's spotted that something is wrong, leaving the attacker without options to monetize his attack.

So lot of non reader in this thread that are saying Ethereum. It was not about Ethereum but about Ethereum Classic.
Ethereum calssic do not have much hashpower and at one point of time even ETH miners threatened that they will perform 51% attack on it.

Pow is not suitable for coins that have small hashpower.

Nothings impossible for hackers because they are skilled in this criminal activities thats why what we need to do is be secure,make every move safely and never trust sites or persons that is not familiar to you

Sometimes all we need is never entertain strangers as same about those sites here in which mostly being use for phishing activities

The above said ETC blockchain was hacked by taking over the computing hash power and nothing else, it cannot be said about bitcoin as of now it is impossible for anyone to take control over the network hash rate. The billions of dollars that you are talking about is from exchanges around the globe and it is because of their inability to secure their system and nothing else and that does not mean that the blockchain is hackable. It is a really misleading information, yes the hacks happened but it is not because of the blockchain system.

No system is free from hack in online. Hackers are always trying to find out new ways of hacking, they are sophisticated in technology. Blockchain are now hackable. Recenlty my blockchain has been hacked for my lack of knowledge. So blockchain wallet needs to reevaluate now its security.

Block chain is not hackable buddy cause thats the reason why we have the miners (to execute transaction and to secure the network) and like you said you're hacked for your lack of knowledge which I believed you're talking about your wallet been hack not blockchain
 However, you avoid human error you won't be hack in the first place.

if OP, the article's writer and some people want to call a 51% attack as hacking, then let them
but this 51% attack is an unavoidable vulnerability to achieve decentralization system
later on that article explains that the problem lies within the protocols, softwares and smart contracts
and blockchain itself is just a distributed ledger used to store all crypto transactions

Blockchain is crucial to hack easily but we can't say that it is unhackable; as the arena of technology increases with the demanding flaws for which the previous one gets hacked and something innovative come in the picture and cycle continues. In the case of Bitcoin blockchain precarious are taken care and attacks that happened are on wallets and not on Blockchain due to the noticeable loopholes. So, the precaution is in our hand besides of being the safest one! 8)

Time ?  Its been a long time ever since blockchain discovered and if im not mistaken ,  the blockchain tech is more older than bitcoin and other cryptos  but most of us didnt know it until we started using the first crypto which was bitcoin   . to cut the story short , what im trying to say here is that blockchain is too old but until now there is no verified report that blockchain have been hacked by hackers  . blockchain.com ( wallet ) and other crypto wallets as well as online exchanges maybe  because they are the ones that holds funds  .

Blockchain technology is just a system which provide a peer to peer ecosystem. It providing a peer to peer system thus not mean that this system can't be hackable.  There are always back doors in any program or software developed in this world. This back doors are usually explored by hackers if users don't protect their login details very well.

Nothing is un-hackable And so it the blockchain technology it can only be difficult to hack.
Well my best guess is that there were some lapses in areas that left them vulnerable to hack attack.
I also think this post can create unwanted FUD in the cryptocurrency world

Electrum has been a minefield lately with all of those fake updates.  I've moved on to other wallets at this point, Electrum devs like Thomas are good guys but a vulnerability that big just isn't acceptable in my book.