3 Ways to Hack Bitcoin

[Agios]

There are currently three ways to steal Bitcoin. First, hackers infect crypto asset exchange servers with special malware via e-mail, websites and popads and infiltrate devices. This happened with the Binance hack last year.
Second, take apart the Bitcoin hardware wallet and get the seed phrase. This has been practiced by Kraken against Trezor.
Third, hacking into the Bitcoin blockchain network itself through “51 Percent Attack”. This third method is considered expensive, but has the potential to get the largest loot than the other two methods. This third method, according to observers, will cost up to US $ 21 million.

[bitmover]

There are currently three ways to steal Bitcoin. First, hackers infect crypto asset exchange servers with special malware via e-mail, websites and popads and infiltrate devices. This happened with the Binance hack last year.
Second, take apart the Bitcoin hardware wallet and get the seed phrase. This has been practiced by Kraken against Trezor.
Third, hacking into the Bitcoin blockchain network itself through “51 Percent Attack”. This third method is considered expensive, but has the potential to get the largest loot than the other two methods. This third method, according to observers, will cost up to US $ 21 million.

All those attacks are very unlikely.

THe first you are not really attacking Bitcoin, but a person. You need to get this person e-mail and sent it a malware and hope this person gets infected. No, this wasn't Binance's case. Binance suffered an attack through their API.

The second attack you mentioned is impossible. You cannot extract a seed phrase from a hardware wallet (unless it is a shit one).

And a 51%attack in the bitcoin network is so unlikely that it is almost impossible. After you spend all those millions you would be kicked off the network right away and you could do only 1 transaction.

And nobody controls 51% of the network, the largest pools have about 20-30%.

[Darker45]

There are currently so many ways to steal Bitcoin, definitely more than 3. There are also many ways to hack Bitcoin wallets.

But to hack Bitcoin itself, there is only one way. And that is to take over at least 51% of the network's mining hash power. Indeed, that is very costly and therefore extremely unlikely to happen, next to impossible as a matter of fact. And the potential loot may not be large as daydreamed.

And, again, it certainly provides the attackers more incentive to use the hash rate in favor of the network than to bring it down.  

[Mumbeeptind1963]

There are currently so many ways to steal Bitcoin, definitely more than 3. There are also many ways to hack Bitcoin wallets.

But to hack Bitcoin itself, there is only one way. And that is to take over at least 51% of the network's mining hash power. Indeed, that is very costly and therefore extremely unlikely to happen, next to impossible as a matter of fact. And the potential loot may not be large as daydreamed.

And, again, it certainly provides the attackers more incentive to use the hash rate in favor of the network than to bring it down.  

It is good that there is a thread here for hacking bitcoin or the wallet itself. It can help our fellow miners and traders to be aware and protect their savings that's why it is indeed a good thing that the poster posts this kind of topic. And even if I know how to hack a particular wallet or the bitcoin itself, I won't do that because If I want to earn coins, I will do that with hardwork and determination to earn by means of trading and not by stealing someone's coins because karma is real.

[Debonaire217]

I quite agree for the first two points, but with regards to the 51 Percent attack, it will not gonna happen why? Because us knowing that most of the hashrates are distributed makes us trust bitcoin further. If we figured out that most of the hashrates are handled by a single entity or groups, this means that there could be interference and manipulation to happen. In addition, the distribution of hashrates to thousand of nodes all over the world makes bitcoin's blockchain purely decentralized.

[pooya87]

There are currently three ways to steal Bitcoin. First, hackers infect crypto asset exchange servers with special malware via e-mail, websites and popads and infiltrate devices. This happened with the Binance hack last year.
Second, take apart the Bitcoin hardware wallet and get the seed phrase. This has been practiced by Kraken against Trezor.
Third, hacking into the Bitcoin blockchain network itself through “51 Percent Attack”. This third method is considered expensive, but has the potential to get the largest loot than the other two methods. This third method, according to observers, will cost up to US $ 21 million.

these are not "hacking bitcoin". so your title i nonsense.

the first and second have nothing to do with bitcoin. it is about security of centralized services and physical devices created by a company. bitcoin itself is secure. it is like posting your private key on a forum and then saying they hacked my bitcoin since that is how most exchange hacks are, they have low security with lots of holes in it and when someone exploits them, they hack their exchange not bitcoin.

and the third one is not exactly affecting the coins one has. it can only create new blocks in place of old blocks, and it is not just expensive it is extremely expensive to perform and actually rob someone because it requires a gigantic transaction to be sent first to someone in a trade where you get something else in return (like selling millions of dollars worth of bitcoin and receiving the fiat) then 51% attacking (that costs millions of dollars) to reverse that transaction. but the problem is that someone who has accepted such a huge transaction will demand a lot more confirmation which means the 51% attack cost goes into trillions of dollars range.

[maxreish]

Better to share some sources since names of such big exchanges were stated here. But anyhow, I remembered my experience when they hacked my crypto wallet. I have signed up using my email address with the same password I used in my wallet to that of some fake mining websites. They stole my crypto coins. That's my biggest downfall that time. And a lesson learned for me, too. Better not to sign up with untrusted websites, do not download suspicious apps and do not click suspicious links.

[DoubleEdgeEX]

The first 2 have nothing to do with BTC and the last one is almost impossible, in case of Bitcoin at least. It´s just like whne the Twitter hack happened, it was Twitters fault bot Bitcoins.

[piebeyb]

there is no way bitcoins can be hacked, unless people are careless about protecting their wallets, somehow I'm still not sure there is a way to hack bitcoins from someone's wallet, as you said there is a market that has been hacked, I am more sure if the insiders do it was not hacked by outsiders

[Wexnident]

They're more like just taking advantage of the vulnerability of humans and take advantage of that to take their coins. You're technically hacking wallets instead of Bitcoin itself. It's like you're saying that the form of someone stealing money is hacking the fiat system itself. Stealing from a wallet is different form Hacking and heck, you're even talking about two different things with the 1st and 2nd, since you're technically attacking the "wallet" that contains Bitcoin, not Bitcoin itself.

As for the 51% attack, it isn't a hack but rather mostly just altering the records? The core of what Bitcoin is wouldn't really change. And, 51% attack isn't more of a hack, it's more like using money to buy up 51% to enforce what you need to do to earn a profit, so in a sense, it isn't hacking. After all, you're technically using the inherent ability of what Bitcoin was given, the ability of 51% attack, so using hack is a bit of a stretch.

[DoubleAweSeven]

This is more like "How to Steal Bitcoin from other users"

The only legit way to mess with Bitcoin is the third option but that happening is unlikely.

51% attacks on Bitcoin blockchain are rare because an attacker would need computing power or hashing power superseding that of millions of miners all over the world. To be able to initiate such an attack one would need to spend an enormous amount of money to acquire mining hardware capable of competing with the rest of the network.

The fact that even the most powerful computers in the world cannot compete against a pool of millions of other computers makes it extremely hard to perform such an attack. Electricity costs needed to propagate such an attack would also make the operations unrealistic.

However, that does not mean that there no other ways of initiating 51% attacks.  A bug in the code of a blockchain could in some cases open the door for a miner to produce new blocks at a much faster rate thus is in a position to initiate a 51% attack.

Such attacks are common in smaller blockchains with proof of work system as less computational power is required in this case. Bitcoin blockchain has never suffered a 51% attack in part because it boasts of an active hashing power which is hard to compromise.

Source

[bob123]

Let me summarize your post in 1 image:




Your "hacks" aren't hacks at all.
And they don't "hack" bitcoin.

As much as you are keen on getting merits, please stop posting such nonsense. It really hurts reading that.
I simply don't know where to start..

Regarding 1):
"Binance hack" because people were dumb enough to install malware on their computer? No. That's not "a binance hack".

2)
You are reading stuff you don't understand and writing stuff which doesn't make sense.
You make it sound as easy as booting up your PC.

3)
21 Million? Not even close.
You wouldn't even get the hardware for that amount (given that there can be that much hardware produced for you..).

[hd49728]

Choose big exchanges where they have so strong security and attack protections. It is how you choose and use exchanges.

Moreover, secure your account from your side: by secure the email you use to register exchange account (with strong password, 2FA) and don't forget to have healthy and careful web surfing and email using. Next one, secure your exchange account: strong email, 2FA (not use SMS because SIM swap attacks), don't resuse passwords.

Only visit official sites and don't log in any platform from search results if you don't do double checks.

Last but important, don't store all your funds on exchanges, one or multi exchanges. Store most of your funds in non-custodial wallets.

[Lucius]

The second attack you mentioned is impossible. You cannot extract a seed phrase from a hardware wallet (unless it is a shit one).

In fact, you can if you come into possession of a device that has a security vulnerability which makes it possible. Such a vulnerability was found some time ago in Trezor, see here -> Trezor&Keepkey - Unfixable Seed Extraction - A practical and reliable attack!, and you obviously forgot that you post in that thread.

Of course it would be best if this security flaw could be fixed (this is not possible), but it can be prevented by adding a passphrase or by using SD card.

[NeuroticFish]

There are 2 proper ways to steal (not hack) bitcoin:
1. Fool people to either send you their coins either give you their credentials/private key/seed. (Or make an ICO, heh).
2. Force people to give you that (see the 5$ wrench security issue: https://xkcd.com/538/ )

[Leviathan.007]

Technically, these are never ever called hacking bitcoin. Actually, there is nearly no way bitcoins can be hacked unless some careless bitcoin holder send the private key or backup seed to someone and lose these two after being infected by some malware, which is previously been discussed a lot in forum about how can you usually get infected and of by the different kind malwares.

[sunsilk]

That very first step though. What do you think of the exchanges? it's like any first-person shooting game where you can inject some .dll and you'll finally be able to hack its backend and you'll get a whole vision of the game and your enemies camp?

As per the news about that Binance hack, the hackers used too many methods. This time, only someone who hasn't heard of these phishing emails or scam emails will click those links attached to an email.

[c_atlas]

Let me summarize your post in 1 image:

lmfao I wish I saved my sMerit to give to you, this totally captured how I felt reading OP's '3 simple ways to hack bitcoin, crypto enthusiasts hate him!' garbage

[bitmover]

The second attack you mentioned is impossible. You cannot extract a seed phrase from a hardware wallet (unless it is a shit one).

In fact, you can if you come into possession of a device that has a security vulnerability which makes it possible. Such a vulnerability was found some time ago in Trezor, see here -> Trezor&Keepkey - Unfixable Seed Extraction - A practical and reliable attack!, and you obviously forgot that you post in that thread.

Of course it would be best if this security flaw could be fixed (this is not possible), but it can be prevented by adding a passphrase or by using SD card.

I forgot that this vulnerability could not be fixed in Trezor... Good remembering it.

it requires a gigantic transaction to be sent first to someone in a trade where you get something else in return (like selling millions of dollars worth of bitcoin and receiving the fiat) then 51% attacking (that costs millions of dollars) to reverse that transaction. but the problem is that someone who has accepted such a huge transaction will demand a lot more confirmation which means the 51% attack cost goes into trillions of dollars range.

This is so true. If an exchange is worried about a transaction of 20 million USD, the exchange you just wait for 10-20 confirmations before crediting his account, making the transaction really irreversible, even with 51% processing power.

[Latviand]

The title of your thread is somehow sketchy, maybe you should change it in to "3 ways on how hacker steal bitcoin",
because your title can be possibly thought as a tutorial to hack a bitcoin.
Just my two cents.

Also if you are exploring the internet, don't click any ads or suspicious link that might bring you to another platform or make you download files from unknown source. Some malware are downloadable and can enter you computer when it disguised as a legit software. So be careful on downloading from any links or websites especially if you have no idea what is it about.

With that, they can track all of you information in your computer to hack your bitcoin so be aware with that.