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Author Topic: Is it true that bitcoin immune from hacking & fraud ??  (Read 847 times)
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July 09, 2018, 05:55:46 PM
 #201

When everything turn into digital, it can be hack so although the transaction mobility is high , the greater risk also upon it.
So make sure that you've learn very carefully how to keep it safe all the time, always update the security to prevent from hacking attempt.
It's for your own good !
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July 09, 2018, 05:59:39 PM
 #202

Consider the value of bitcoin,it has made exchanges prime targets for hacking, and thus has made hacks there quite lucrative..
I mean the anonymity and irrevocability associated with bitcoin transactions means that the money lost is also irrecoverable, CMIIW..

I wouldn't say immune. Although one might say that it is secure and private at best. I wouldn't say that it's secure because there are other means that could threaten the safety of one's coins or holdings. One of the usually exploited means is with the storage system or e-wallets, which are commonly subject to either hacking or bogus schemes like fake airdrops that only aim to get one's e-wallet password, which have already victimized many people in this market.


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July 30, 2018, 11:31:47 AM
 #203

When everything turn into digital, it can be hack so although the transaction mobility is high , the greater risk also upon it.
So make sure that you've learn very carefully how to keep it safe all the time, always update the security to prevent from hacking attempt.
It's for your own good !

Anyhow, Bitcoin and the other altcoins still remain the safest currency. It cannot be compared with fiat. Traditional money that is stored in the banks can be hacked easily. We hear this hacking stories often.

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August 12, 2018, 08:28:13 PM
 #204

When everything turn into digital, it can be hack so although the transaction mobility is high , the greater risk also upon it.
So make sure that you've learn very carefully how to keep it safe all the time, always update the security to prevent from hacking attempt.
It's for your own good !

Anyhow, Bitcoin and the other altcoins still remain the safest currency. It cannot be compared with fiat. Traditional money that is stored in the banks can be hacked easily. We hear this hacking stories often.
Everything can be attacked not only by electronic money but by cash. Since I think there are people out there, it will definitely have people breaking them. That is the natural law in society. They can all be bad actions and beautiful expressions in all aspects. And every investor's job is to know how to protect their assets and invest wisely.
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August 27, 2018, 05:31:55 PM
 #205

You need to protect your email account using two-factor authentication to prevent attacks. Do the same with your bitcoin storage service. Coinbase already requires a two-factor logon to the system: it consists of a password and text received via SMS. SMS can be intercepted, you must use the option of scanning based on an application, such as Google Authenticator
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August 27, 2018, 06:14:44 PM
 #206

bitcoin wallets are immune to hack at any given point in time so we should nt hold the bitcoin in wallets for longer time




I think the exchange will still have a record of the number of coins owned by investors, unless they also want to be cheated because in the true sense, it is stolen money and not records.
Hacking an exchange account will not affect the investor's personal account with an exchange.
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August 27, 2018, 07:27:07 PM
 #207

of course it is. If you give someone your private key then it's your problem. Luggage pads in such a way that the password to pick up to them is unrealistic. The rest of this is already you need to be careful that someone does not upload your data for hacking
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August 30, 2018, 05:06:55 AM
 #208

So long as humans created, maintained and is using something, it will be subject to hacking and fraud. I mean no human made object or system is ever perfect so it would always be vulnerable. Same can be said to crypto currency. No matter how many bits of security you use, if the person is careless with their transactions then it will be for naught.

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September 15, 2018, 07:54:57 AM
 #209

The best thing is the algorithm of bitcoin system, it is anonymous. Where will they find from millions of wallets are to be hacked and whom account has millions worth of money. scratch your head and give up.
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September 16, 2018, 04:57:50 PM
 #210

Cryptocurrencies are prone to hacking, and also it can be wiped by computer crashing and other unexpected events. But its difficult to hackers to know if their victim has millions in their wallet. Regular changing of password and avoid giving of your password to anyone expect to your wife ! it will be a war LOL!
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September 16, 2018, 05:00:24 PM
 #211

Consider the value of bitcoin,it has made exchanges prime targets for hacking, and thus has made hacks there quite lucrative..
I mean the anonymity and irrevocability associated with bitcoin transactions means that the money lost is also irrecoverable, CMIIW..
Well, for me, as long as we have a money that works around the internet, it is vulnerable to hackers. because internet is the most dangerous place to put all of your money. so still, it is vulnerable.
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September 16, 2018, 05:22:24 PM
 #212

Consider the value of bitcoin,it has made exchanges prime targets for hacking, and thus has made hacks there quite lucrative..
I mean the anonymity and irrevocability associated with bitcoin transactions means that the money lost is also irrecoverable, CMIIW..
No i believe bitcoin is not immune in hacking and fraud because there are a lot of hackers and would like to trick people today. This also the reason why the governments of a country don't like cryptocurrency because they think it is just a scam to steal all of your money.

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September 16, 2018, 07:26:23 PM
 #213

There had been no hacking in the blockchain technology so far. Only some exchanges were hacked but if you see recent news even that has not happened recently.



I think that depends on how to secure the site to prevent attackers and how well the support system and IT team will protect their site from hackers. I think that every exchange will secure their site so that their members can trade in security.
I'm not sure about this because bitcoin is hard to hack but if someone has high skills in programming he might crack his account but of course, he needs to break the private key.
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September 16, 2018, 07:50:51 PM
 #214

The blockchain itself is totally secure but it is still up to the user how they manage their personal keys/ crypto corporations
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November 03, 2018, 01:53:00 AM
 #215

of course it is. If you give someone your private key then it's your problem. Luggage pads in such a way that the password to pick up to them is unrealistic. The rest of this is already you need to be careful that someone does not upload your data for hacking
There is nothing safe in the internet world, everything can be hacked because all sophisticated systems still have weaknesses. Weakness is used by bad people to damage or steal. Bitcoin can also be hacked, for example in Coincheck, the exchange of virtual Bitcoin currencies in Japan, losing 523 million NEM coins (Japanese cryptocurrency) worth 58 billion yen. Youbit from South Korea lost 17% of its digital assets. Gox, based in Tokyo, Japan lost 750 thousand Bitcoin coins
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November 03, 2018, 02:26:14 AM
 #216

I agree that trading platforms are the target of hackers, but because of its anonymity, people can easily send illegal coins.
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November 03, 2018, 02:52:49 AM
 #217

Consider the value of bitcoin,it has made exchanges prime targets for hacking, and thus has made hacks there quite lucrative..
I mean the anonymity and irrevocability associated with bitcoin transactions means that the money lost is also irrecoverable, CMIIW..
No i believe bitcoin is not immune in hacking and fraud because there are a lot of hackers and would like to trick people today. This also the reason why the governments of a country don't like cryptocurrency because they think it is just a scam to steal all of your money.
we often see in market much exchanger or wallet hacked and millions dollar stolen.no one safe in any place in this world.people become smarter since technology developtment growth massively.

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November 04, 2018, 04:59:52 AM
 #218

Hackers can only steal your information, and you can't steal your block directly. Do you know the famous blackmail event? It makes Bitcoin's reputation louder. I think you should go to learn the blackmail incident.

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November 04, 2018, 05:22:32 AM
 #219

Bitcoin is secure and it is good because it can not be hacked easily while the fraud chances are very less and in fiat money there are high chances of theft while your wallet can be stolen any time but in crypto your money is highly secure and every where you can go freely and from there you can pay amounts online from your online wallet so it is a great achievement of blockchain technology that now we are getting the benefits from it.

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November 04, 2018, 06:43:04 AM
Last edit: November 04, 2018, 06:54:10 AM by stayeduptolate
 #220

Consider the value of bitcoin,it has made exchanges prime targets for hacking, and thus has made hacks there quite lucrative..
I mean the anonymity and irrevocability associated with bitcoin transactions means that the money lost is also irrecoverable, CMIIW..
Exchanges are lot vulnerable to hacks due to the fact that there are many unpatched security flaws of which the hackers take advantage of and gain lots of money. But your second statement is absolutely right and we can never recover the bitcoins from a lost wallet if you aren't having any backup of it also the bitcoin wallet can never be accessed without a password if it is password protected and the security is also pretty tough and will take many centuries to be bruteforced.
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