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Author Topic: Is blockchain.info wallet safe?  (Read 4921 times)
arsenalfun
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January 17, 2015, 08:45:59 AM
 #1

So as bitstamp has been hacked, I wonder if blockchain.info is safe enough?

Thanks Grin
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January 17, 2015, 09:04:55 AM
 #2


That is your decision. bc.i had many problems over the last 6 months. They claim they were fixed and everything is fine, others claim there are still other bugs. Who do you believe?


Me personally, I want to be in control of the private keys 100%. At bc.i you are not, regardless what they say.

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Rannasha
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January 17, 2015, 09:07:33 AM
 #3

I wonder what the relevance is in discussing Bitstamp when asking about the safety of a wallet service. The two are completely different.

But no matter.

Blockchain.info has a few security considerations to take into account. Malware on your computer can steal your coins by monitoring you entering your passphrase. Furthermore you need to ensure that you have a backup of your private key stored somewhere safe (offline) in case Blockchain.info decides to just go offline one day. Finally, recently there have been issues with Blockchain.info using a weak random number generator, which allowed attackers to decypher some private keys and steal coins. Fortunately, most of this was done by someone with good intentions, so the coins could be returned, but still.

All together, I would only use Blockchain.info (or any other online wallet) for day-to-day spending money, not to store larger amounts that aren't being used.
bitbaby
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January 17, 2015, 09:48:29 AM
 #4

Think of it this way, it's easier for a hacker to hack into an on-line wallet but it's not as much easier to hack an off-line wallet which never sees the light of the internet.

HugoTheSpider
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January 17, 2015, 11:46:29 AM
 #5

Everybody has to make his own conclusion.

This is the best practice for me:
  • online wallet like blockchain.info: storing bitcoins worth up to 10% of the monthly salary. If it's unavoidable (exchange), storing more than 10% for a short time period is ok.
  • local hot wallet like Multibit, Core: 10-100% salary.
  • offline storage: bitcoins worth >100% montly salary.

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gkv9
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January 17, 2015, 11:50:37 AM
 #6

Blockchain maybe safe at some extent, but I would like to share what I experienced during the past days:

A few of my transactions have been marked as Double-Spend, even though I didn't do it... It was a bug, but it took nearly a whole day in order to show the actual available funds in my wallet... So, you should better go for Bitcoin-Qt Desktop Wallet if you are to do some huge amount transactions...

SureLockLoans
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January 17, 2015, 11:51:44 AM
 #7

If you have any serious money 10btc or over then yoou need to create a paper wallet or run bitcoin core on a offline computer just to make sure.
arsenalfun
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January 17, 2015, 08:04:16 PM
 #8

Heh thanks for the great replies guys, much appreciated  Grin Kiss Kiss
AvaiSc
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January 17, 2015, 08:09:18 PM
 #9

if you had a lot of BTC
Better for u using offline wallet
or
hardware wallet

Regards
PolarPoint
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January 17, 2015, 09:38:27 PM
 #10

I think blockchain.info wallet is safe. People lost bitcoin on blockchain.info because they using unsafe methods to access their wallet. I still have my wallet there.
mayax
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January 18, 2015, 05:41:31 PM
 #11

I think blockchain.info wallet is safe. People lost bitcoin on blockchain.info because they using unsafe methods to access their wallet. I still have my wallet there.

blockchain.info was hacked.

who said that is it safe? it is not safe. Smiley  

https://www.cryptocoinsnews.com/gentleman-hacker-returns-stolen-bitcoins-blockchain-info/

http://www.coindesk.com/good-samaritan-blockchain-hacker-returned-255-btc-speaks/

hacker : ""Every bitcoin transaction is signed by two values – 'R' and 'S' – which prove that the sender knows the private key. If the same R value is used twice, the private key can be easily computed from the signatures alone.""

and then read this :

http://www.coindesk.com/research-hackers-install-backdoor-bitcoin-cold-storage/

"Even if the manufacturer claims that it runs open-source code, how do you tell whether it is actually running what you compiled?" Verbücheln said.
Madness
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January 18, 2015, 05:43:26 PM
 #12

So as bitstamp has been hacked, I wonder if blockchain.info is safe enough?

Thanks Grin

Well Basically Online wallets are less safer then Offline wallets .
so I personally don't recommend you to use Blockchain.info or Coinbase or anything simillar to that , just use Offline wallet like Multibit , Bitcoin Core or Electrum ... or if you wanna be sure about your protection and you have huge amounts then just buy Hardware wallet Smiley

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January 18, 2015, 05:53:15 PM
 #13

I think blockchain.info wallet is safe. People lost bitcoin on blockchain.info because they using unsafe methods to access their wallet. I still have my wallet there.

blockchain.info was hacked.

who said that is it safe? it is not safe. Smiley  

https://www.cryptocoinsnews.com/gentleman-hacker-returns-stolen-bitcoins-blockchain-info/

http://www.coindesk.com/good-samaritan-blockchain-hacker-returned-255-btc-speaks/

hacker : ""Every bitcoin transaction is signed by two values – 'R' and 'S' – which prove that the sender knows the private key. If the same R value is used twice, the private key can be easily computed from the signatures alone.""

and then read this :

http://www.coindesk.com/research-hackers-install-backdoor-bitcoin-cold-storage/

"Even if the manufacturer claims that it runs open-source code, how do you tell whether it is actually running what you compiled?" Verbücheln said.


But as far I know, Blockchain.info never failed to return coins when the loss was due to their own fault, not customer's lack of secure behavior.

mayax
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January 18, 2015, 06:14:43 PM
 #14

I think blockchain.info wallet is safe. People lost bitcoin on blockchain.info because they using unsafe methods to access their wallet. I still have my wallet there.

blockchain.info was hacked.

who said that is it safe? it is not safe. Smiley  

https://www.cryptocoinsnews.com/gentleman-hacker-returns-stolen-bitcoins-blockchain-info/

http://www.coindesk.com/good-samaritan-blockchain-hacker-returned-255-btc-speaks/

hacker : ""Every bitcoin transaction is signed by two values – 'R' and 'S' – which prove that the sender knows the private key. If the same R value is used twice, the private key can be easily computed from the signatures alone.""

and then read this :

http://www.coindesk.com/research-hackers-install-backdoor-bitcoin-cold-storage/

"Even if the manufacturer claims that it runs open-source code, how do you tell whether it is actually running what you compiled?" Verbücheln said.


But as far I know, Blockchain.info never failed to return coins when the loss was due to their own fault, not customer's lack of secure behavior.



we do not debate whether Blockchain.info is or not fair. we debate whether the Bitcoin wallets are safe and THEY ARE NOT.

P0rny
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January 18, 2015, 06:45:32 PM
 #15

not customer's lack of secure behavior.



The other problem is there is no proper definition of what is the "customer's lack of secure behavior".

BC might also return funds if the amount is small, what if they get hacked to the tune that Bitstamp got hacked... or even worse Gox?

(And yes, I do use them myself...  Grin but not for 100% of my coins)
mayax
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January 18, 2015, 11:21:27 PM
 #16

not customer's lack of secure behavior.



The other problem is there is no proper definition of what is the "customer's lack of secure behavior".

BC might also return funds if the amount is small, what if they get hacked to the tune that Bitstamp got hacked... or even worse Gox?

(And yes, I do use them myself...  Grin but not for 100% of my coins)

be sure they won't pay any BTC back. they will close the business like the wallet Inputs.io, hacked    Smiley

So, the online wallets are hacked often.   blockchain.info = online wallet = very possible to be hacked AGAIN as IT WAS in the past.

http://www.coindesk.com/good-samaritan-blockchain-hacker-returned-255-btc-speaks/
thehybrid
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January 18, 2015, 11:35:17 PM
 #17

its been de-listed from the main bitcoin .org site as one of wallets to be used, so im guessing its not safe anymore.
mayax
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January 19, 2015, 04:08:27 AM
 #18

its been de-listed from the main bitcoin .org site as one of wallets to be used, so im guessing its not safe anymore.

very good observation  Smiley
asura10x
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January 19, 2015, 04:40:23 AM
 #19

So as bitstamp has been hacked, I wonder if blockchain.info is safe enough?
Simply..
If you think Blockchain.info not save anymore, just get out from BC, and find another Walllet what you think safe.

dsly
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January 19, 2015, 07:30:54 PM
 #20

So as bitstamp has been hacked, I wonder if blockchain.info is safe enough?

Thanks Grin

Should be safe for sure. But its always recommended to just store small amounts there and create a cold storage for  any larger amounts.

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