Bitcoin Forum
August 18, 2024, 10:06:54 PM *
News: Latest Bitcoin Core release: 27.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Are 51% attacks legal?  (Read 208 times)
Ucy
Sr. Member
****
Offline Offline

Activity: 2590
Merit: 402


View Profile
September 28, 2021, 03:59:41 PM
 #21

It's obviously frown upon by every crypto enthusiast. You are attacking the network per se for you own good and getting incentives as result. So this alone makes it very illegal as you have said. There is no written rule because we are in a decentralise finance, no central authority. But it doesn't mean it is legal  to do this kind of attacks, in my opinion.


The rules are coded though. They don't have to written
It's more like in our World where matters work according to set rules that are not written otherwise they will behave the way they want.
There is supply rule, about 21million. There is immutablity rules, and others.
justdimin
Hero Member
*****
Offline Offline

Activity: 3094
Merit: 671


www.Crypto.Games: Multiple coins, multiple games


View Profile
September 28, 2021, 05:14:11 PM
 #22

It's difficult to remain anonymous for so long, so at some point they will catch the attacker. They can force the attacker to hand them private key (if it's a double spending attack), you know threatening them with a lifetime prison, waterboarding, and stuff. Furthermore, they can find major crypto mining facilities and data centres. If they seriously want to take down crypto, they can seize or destroy it (the facilities) with an air strike. Or arrest every single one of developers and waterboard them until they all comply Cheesy
That is if the attacker exposes his/her identity through a centralized exchange or service. Cashing out crypto to Fiat in-person or through a P2P platform would let the attacker get away with a double-spend attack. It's up to the crypto project's developers to strengthen the Blockchain against further attacks. Some projects are relying on merged-mining for extra security. Others are timestamping their blocks on the main Bitcoin blockchain for complete resiliency against a 51% attack (like Komodo).

It would be "immoral" to attack a blockchain network with the intent of stealing money or preventing others from using the chain. But I wouldn't say it's "illegal" since crypto is decentralized and outside of any government's jurisdiction. In other words, governments cannot enforce the rule of law on a widely-distributed and decentralized system. I'll be interesting to know what will happen in the future once 51% attacks become more common on small blockchain networks. I'm pretty sure centralized exchanges will de-list coins that are deemed "unstable", greatly affecting their market prices. There should be nothing to worry about as long as decentralized alternatives exist. Just my thoughts Grin
I would also doubt that 51% is the part that is illegal. It would be illegal to steal from people, but there are not that many nations who actually see 51% as an illegal thing, not that it is fine but because they just don't have the laws for it yet. So, if you go to cops and say that someone took over a blockchain and made your wallet send the coins to another wallet, they would probably look at you like you are crazy. If hacker is in another nation your job is even harder, all in all it would be quite near impossible to end up with anything that would be legit and proven to be working in a legal court.

All you could do is hope it will be considered "stealing" and not hacking, if it is hacking then you would need to explain how technically it is not hacking into your computer. It is really complicated when it comes to lawyers and all that paperwork to do anything about it.

█████████████████████████
███████▄▄▀▀███▀▀▄▄███████
████████▄███▄████████
█████▄▄█▀▀███▀▀█▄▄█████
████▀▀██▀██████▀██▀▀████
████▄█████████████▄████
███████▀███████▀███████
████▀█████████████▀████
████▄▄██▄████▄██▄▄████
█████▀▀███▀▄████▀▀█████
████████▀███▀████████
███████▀▀▄▄███▄▄▀▀███████
█████████████████████████
.
 CRYPTOGAMES 
.
 Catch the winning spirit! 
█▄░▀███▌░▄
███▄░▀█░▐██▄
▀▀▀▀▀░░░▀▀▀▀▀
████▌░▐█████▀
████░░█████
███▌░▐███▀
███░░███
██▌░▐█▀
PROGRESSIVE
      JACKPOT      
██░░▄▄
▀▀░░████▄
▄▄▄▄██▀░░▄▄
░░░▀▀█░░▀██▄
███▄░░▀▄░█▀▀
█████░░█░░▄▄█
█████░░██████
█████░░█░░▀▀█
LOW HOUSE
         EDGE         
██▄
███░░░░░░░▄▄
█▀░░░░░░░████
█▄░░░░░░░░█▀
██▄░░░░░░▄█
███▄▄░░▄██▌
██████████
█████████▌
PREMIUM VIP
 MEMBERSHIP 
DICE   ROULETTE   BLACKJACK   KENO   MINESWEEPER   VIDEO POKER   PLINKO   SLOT   LOTTERY
Abiky (OP)
Legendary
*
Offline Offline

Activity: 3290
Merit: 1380


www.Crypto.Games: Multiple coins, multiple games


View Profile
October 01, 2021, 02:17:16 PM
 #23

I would also doubt that 51% is the part that is illegal. It would be illegal to steal from people, but there are not that many nations who actually see 51% as an illegal thing, not that it is fine but because they just don't have the laws for it yet. So, if you go to cops and say that someone took over a blockchain and made your wallet send the coins to another wallet, they would probably look at you like you are crazy. If hacker is in another nation your job is even harder, all in all it would be quite near impossible to end up with anything that would be legit and proven to be working in a legal court.

All you could do is hope it will be considered "stealing" and not hacking, if it is hacking then you would need to explain how technically it is not hacking into your computer. It is really complicated when it comes to lawyers and all that paperwork to do anything about it.

Exactly. There are no concrete laws which specify double-spending attacks are illegal. It's a regulatory grey area due to crypto/Blockchain tech's decentralized and censorship-resistant nature. I'd say 51% attacks are immoral, but not illegal. It's totally wrong to attack the Blockchain in order to disrupt the network and steal people's cryptocurrency. But there really isn't a way to enforce the rule of law because of the way crypto/Blockchain tech was designed. Centralized exchanges may prevent the attacker from cashing out the funds, but this can be easily bypassed by using a decentralized exchange or P2P platform. It'll be up to developers and the community as a whole to adopt security mechanisms in order to prevent further double-spending attacks from occurring again. Just my opinion Smiley

█████████████████████████
███████▄▄▀▀███▀▀▄▄███████
████████▄███▄████████
█████▄▄█▀▀███▀▀█▄▄█████
████▀▀██▀██████▀██▀▀████
████▄█████████████▄████
███████▀███████▀███████
████▀█████████████▀████
████▄▄██▄████▄██▄▄████
█████▀▀███▀▄████▀▀█████
████████▀███▀████████
███████▀▀▄▄███▄▄▀▀███████
█████████████████████████
.
 CRYPTOGAMES 
.
 Catch the winning spirit! 
█▄░▀███▌░▄
███▄░▀█░▐██▄
▀▀▀▀▀░░░▀▀▀▀▀
████▌░▐█████▀
████░░█████
███▌░▐███▀
███░░███
██▌░▐█▀
PROGRESSIVE
      JACKPOT      
██░░▄▄
▀▀░░████▄
▄▄▄▄██▀░░▄▄
░░░▀▀█░░▀██▄
███▄░░▀▄░█▀▀
█████░░█░░▄▄█
█████░░██████
█████░░█░░▀▀█
LOW HOUSE
         EDGE         
██▄
███░░░░░░░▄▄
█▀░░░░░░░████
█▄░░░░░░░░█▀
██▄░░░░░░▄█
███▄▄░░▄██▌
██████████
█████████▌
PREMIUM VIP
 MEMBERSHIP 
DICE   ROULETTE   BLACKJACK   KENO   MINESWEEPER   VIDEO POKER   PLINKO   SLOT   LOTTERY
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!