Blockchain hackable now ~

[fiulpro]

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/

[Ailmand]

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.

[pooya87]

so our long said *non hackable cryptocurrencies*

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!

[alisafidel58]

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

[ribowo76]

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.

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

[antisocial77]

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.

[Teawhalee]

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.

[joniboini]

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.

[lyks15]

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.

[Herbert2020]

The really stupid thing is ETC is now worth $2 more than before it was attacked.
So investors really don't pay attention. 

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.

[Bitinity]

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.

[jakelyson]

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.

[Japinat]

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.

[maldini]

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.

[NavI_027]

Just like what they say, no system is safe.

That was C.L.A.Y's famous tagline .
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? ).  

[Haunebu]

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.

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.

[MarioV]

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.

[eann014]

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.

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.

[bhabygrim]

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.

[Beerwizzard]

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.