Bitcoin can be hacked?

[Slipknot79]

Its been a problem since the beginning of time. There will always be criminals out there in this world. Its just a fact of life I am afraid.

[1715021496]

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[harbin55]

there is a minimal chances!!!
bitcoin can be hack!!
there are lot of hackers all around the world we could not said that bitcoin cant be hack

[4hajs]

No bitcoin cannot be hacked. Only your computer can be hacked and the hacker can get access to your private keys. Thats why the security is so important when we are using cryptocurrencies. Protect yourself be paranoic, get hardware wallet.

[Alok Yadav]

No central bank or governmental authority backs the safety or soundness of digital currencies. Unlike fiat currencies like the US dollar, which is printed by the Federal Reserve, bitcoins are minted by complex interactions across a broad global computer network.

Due to the nature of digital mining, bitcoin’s value cannot be manipulated or altered. Bitcoin's value is secured thanks to the cryptographic functions that it employs, and though it could be hacked one day in the future, technology and cryptography experts agree that such an attack is unlikely in the near-term. However, the networks and storage locations where bitcoins are housed and “protected” can be hacked by malevolent forces. Despite assurances by bitcoin storage companies and developers of the currency, bitcoin exchanges can and have been hacked.

There are three prominent hacking cases of bitcoin exchanges in recent years:

Bitstamp: The Slovenia-based Bitstamp exchange represented the third-busiest marketplace for bitcoin at the beginning of 2015. The exchange processed roughly 6% of bitcoin transactions. The firm announced a breach in early January 2015 and shut down its services temporarily. When the smoke cleared, thieves had taken off with roughly 19,000 bitcoins (BTC), a fraction of the exchange’s total assets. Rather than keep its assets on live exchanges, Bitstamp had stored more of the currency on local hard drives, a process known as “cold storage.” The total heist was valued at $5.1 million.

Mt. Gox: The most prominent bitcoin hacking occurred in 2014. Mt. Gox, which was based in Japan, was once the largest marketplace for bitcoin, and processed roughly 80% of all global transactions for the currency. That was until a security breach at led to the heist of $460 million. The hacking soon fueled a price collapse of the cryptocurrency, with bitcoin falling by half in less than a year. Following the well-publicized heist and blow to bitcoin, Mt. Gox confirmed that it faced roughly 150,000 hack attacks every single second. Just one of these attacks made if possible for thieves to make off with 750,000 bitcoins and bring the exchange to its knees.

Bitcoinica: Before there was the collapse of Mt. Gox, there was the fall of Bitcoinica. Bitcoinica was hacked in March 2012, and had lost a large share of coins. Despite the bad press and the attack, the firm promised to pay back users in full for their losses and improve security. Unfortunately, neither happened. The company was hacked a second time just two months later and shuttered its website. The company said it would then repay users for 50% of their previous holdings.

This too would prove impossible. While Bitcoinica attempted to reboot, it built its entire business around Mt. Gox. However, legal proceedings were brought against the exchange, forcing Bitcoinica to let all of its holdings sit idle in Mt. Gox exchanges while the courts attempted to sort out the second case ever involving digital currencies. While lawyers bickered, Mt. Gox was hacked, and anyone who still had Bitcoinica accounts proceeded to lose anything that was left.

These aren’t the only hacking attacks in recent years. Hackers took down the zloty and euro exchanges of Polish exchange Bitcurex last March. The firm lost “between 10 and 20%” of its funds. That same month, Canadian bitcoins announced it lost $100,000 after a hacker breached vulnerabilities in the exchange’s security protocols. And Picostocks, a bitcoin stock exchange, also lost 6000 BTC in 2013, despite having just four clients trading on it. Bitcoin wallet services BIPS and Inputs.io have also reported breaches in recent years.

[Rahul20]

Due to the nature of digital mining, bitcoin’s value cannot be manipulated or altered. Bitcoin's value is secured thanks to the cryptographic functions that it employs, and though it could be hacked one day in the future, technology and cryptography experts agree that such an attack is unlikely in the near-term. However, the networks and storage locations where bitcoins are housed and “protected” can be hacked by malevolent forces. Despite assurances by bitcoin storage companies and developers of the currency, bitcoin exchanges can and have been hacked

[Nevis]

No, it can't be hack nor altered or manipulated by someone. Bitcoin is really secured but still has some flaws. The only thing that can be easily hack is your wallet address if you are not careful.

[Wipro]

No, it can't be hack nor altered or manipulated by someone. Bitcoin is really secured but still has some flaws. The only thing that can be easily hack is your wallet address if you are not careful.

What you are saying, online wallets are can be hacked and if you share your private key or wallet.dat file means your wallet will be able to hack by the hackers in the online. If you search your wallet login via Google result means also you will hacked. Please be careful about it.
Saying be careful will not be good answer for the people asking query.

[Brigalabdis]

100% it is possible that hackers can hack your account easily if they know that you have a lot of bitcoin on your wallet. I read some news about hackers then they hack about a million dollars so it is easy to hack your account.

[Timoteus]

I think, when invent quantum computers it is possible

[CyberKuro]

Bitcoin nodes security is out of question, over 8 years and still on development, core developers keep it safe.
The most vulnerable side of bitcoin is "the person" who have entire information how to access to the address, if he forget his password, no one could recover bitcoin in his wallet, as simple as that. Even for quantum computers can not hack bitcoin, as there is a precaution nodes for it.

[Nevis]

No, it can't be hack nor altered or manipulated by someone. Bitcoin is really secured but still has some flaws. The only thing that can be easily hack is your wallet address if you are not careful.

What you are saying, online wallets are can be hacked and if you share your private key or wallet.dat file means your wallet will be able to hack by the hackers in the online. If you search your wallet login via Google result means also you will hacked. Please be careful about it.
Saying be careful will not be good answer for the people asking query.

Oh, I am very sorry. What I mean is that phishing sites are very common and that if you are not careful enough that you enter your infos to that site, you'll surely give away everything you have. Please forgive me for being inconsiderate. I'll be careful from now.


edit: I think right now, as everyone admit even those who are great developers of our time that bitcoin is really secured and hard to hack.

[Nevis]

No central bank or governmental authority backs the safety or soundness of digital currencies. Unlike fiat currencies like the US dollar, which is printed by the Federal Reserve, bitcoins are minted by complex interactions across a broad global computer network.

Due to the nature of digital mining, bitcoin’s value cannot be manipulated or altered. Bitcoin's value is secured thanks to the cryptographic functions that it employs, and though it could be hacked one day in the future, technology and cryptography experts agree that such an attack is unlikely in the near-term. However, the networks and storage locations where bitcoins are housed and “protected” can be hacked by malevolent forces. Despite assurances by bitcoin storage companies and developers of the currency, bitcoin exchanges can and have been hacked.

There are three prominent hacking cases of bitcoin exchanges in recent years:

Bitstamp: The Slovenia-based Bitstamp exchange represented the third-busiest marketplace for bitcoin at the beginning of 2015. The exchange processed roughly 6% of bitcoin transactions. The firm announced a breach in early January 2015 and shut down its services temporarily. When the smoke cleared, thieves had taken off with roughly 19,000 bitcoins (BTC), a fraction of the exchange’s total assets. Rather than keep its assets on live exchanges, Bitstamp had stored more of the currency on local hard drives, a process known as “cold storage.” The total heist was valued at $5.1 million.

Mt. Gox: The most prominent bitcoin hacking occurred in 2014. Mt. Gox, which was based in Japan, was once the largest marketplace for bitcoin, and processed roughly 80% of all global transactions for the currency. That was until a security breach at led to the heist of $460 million. The hacking soon fueled a price collapse of the cryptocurrency, with bitcoin falling by half in less than a year. Following the well-publicized heist and blow to bitcoin, Mt. Gox confirmed that it faced roughly 150,000 hack attacks every single second. Just one of these attacks made if possible for thieves to make off with 750,000 bitcoins and bring the exchange to its knees.

Bitcoinica: Before there was the collapse of Mt. Gox, there was the fall of Bitcoinica. Bitcoinica was hacked in March 2012, and had lost a large share of coins. Despite the bad press and the attack, the firm promised to pay back users in full for their losses and improve security. Unfortunately, neither happened. The company was hacked a second time just two months later and shuttered its website. The company said it would then repay users for 50% of their previous holdings.

This too would prove impossible. While Bitcoinica attempted to reboot, it built its entire business around Mt. Gox. However, legal proceedings were brought against the exchange, forcing Bitcoinica to let all of its holdings sit idle in Mt. Gox exchanges while the courts attempted to sort out the second case ever involving digital currencies. While lawyers bickered, Mt. Gox was hacked, and anyone who still had Bitcoinica accounts proceeded to lose anything that was left.

These aren’t the only hacking attacks in recent years. Hackers took down the zloty and euro exchanges of Polish exchange Bitcurex last March. The firm lost “between 10 and 20%” of its funds. That same month, Canadian bitcoins announced it lost $100,000 after a hacker breached vulnerabilities in the exchange’s security protocols. And Picostocks, a bitcoin stock exchange, also lost 6000 BTC in 2013, despite having just four clients trading on it. Bitcoin wallet services BIPS and Inputs.io have also reported breaches in recent years.

Please give the sources of those articles.
src. http://www.investopedia.com/articles/investing/032615/can-bitcoin-be-hacked.asp

[tamawaelah]

i think it can be, but the question is.
how far can you go ? hahaha
that is to much server nodes, to much computer you will hack, hahaha
whenever the system still growing but not yet done for hacking, its wasting time.
the bitcoin is built by complicated system and will grow that system everytime it need.
so, can you hack it before 60s is up ?
 
if you ask me, i will give up first before you ask 

[fulmetal08larz]

In my opinion, everything online can be hacked but it would not be a piece of cake for the hackers, they would need extraordinary set of equipment, skills, method, time, etc. for the hack to commence. What we can do about this is to secure our keys and passwords, avoid clicking suspicious links, check your surroundings, have an offline wallet if you have massive amount of bitcoins, get a secure e-mail, etc. Hackers use different kinds of methods to hack, we must know how to protect ourselves from their methods.

[stompix]

I think Bitcoin can not be attacked because Blockchain technology is now growing and no one knows how Bitcoin was created. Only exchanges are attacked and this really does not affect Bitcoin

What the hell are you talking about?
Everyone but ignorant know how bitcoin was created.
Start reading:
https://en.bitcoin.it/wiki/Main_Page

There is one known attack that is possible to perform on Bitcoin. It's called a "51% attack". To perform this attack you have to have the majority of hashpower of Bitcoin network. Fortunately, this attack is too expensive and unlike to happen. Bitcoin network will be safe for a long time. Our computers are still too slow to crack encryption protocols.

Three is also a Sybil  attack.
https://en.bitcoin.it/wiki/Weaknesses#Sybil_attack

And with growing blockchain space a drop in full nodes could render the protocol vulnerable.

In my opinion, everything online can be hacked but it would not be a piece of cake for the hackers, they would need extraordinary set of equipment, skills, method, time, etc. for the hack to commence. What we can do about this is to secure our keys and passwords, avoid clicking suspicious links, check your surroundings, have an offline wallet if you have massive amount of bitcoins, get a secure e-mail, etc. Hackers use different kinds of methods to hack, we must know how to protect ourselves from their methods.

The thread is about the blockchain and bitcoin , not your personal wallet.
There is no hack for both of them.

[shafi alam]

maybe It will happen after few time when its will be in mainstream.  But now Everybody don't know about bitcoin.  so its too hard to hack. hack is not possible its not true, any thing can be hack.

[SaShiRaJaVu]

I love the concept of Bitcoin. I believe the Internet will redefine currency as we know it.  I hope this helps the Bitcoin community to develop a currency that's really resilient to attacks.

But, is it possible?

Internet wont redefine currency as we know it,but bitcoin will redefine the way we saw currency and shares.You do not need to develop any further bitcoin but the only thing bitcoin need is the infinite scaling solution and if they could achieve that obstacle then it will rule the world for a very long time.Bitcoin as a network cannot be hacked but make sure you know the basics to use internet and keeping your privacy.

[Obito]

I love the concept of Bitcoin. I believe the Internet will redefine currency as we know it.  I hope this helps the Bitcoin community to develop a currency that's really resilient to attacks.

But, is it possible?

It depends on what you are referring. Bitcoin can be hacked through Bitcoin platforms like exchanges and hacking users device where they store their bitcoin wallets and private key. But if you are referring to Blockchain which runs the Bitcoin network it will be hard and is very unlikely to happen. The blockchain can't be tampered with unless some malicious nodes get more hash power than honest nodes (greater than 51% of the hash power of the network). It's very expensive to conduct a hack on the network as the computing resources required to do so are immense.

Yeah that's right it depends on the site you are referring. Many things are can be hacked now because of lack of security. Be knowledgeable about the things you are going with.

[lvincent]

If you're talking anout the blockchain and bitcoin i think it is impossible to hack. Bitcoin is decentralized that it has it's own server or bitcoin it self is a server and every seconds it changes it encrypted key so hacker's will be having a hard time hacking it.

[MommyElsa]

Bitcoin can be hacked in your wallet if you did not secure all the password or private keys but whe you are talking about bitcoin all over the world, ut cannot be hacked because bitcoin is decentralized.