What do you things? you have more than 5 years of experience in the forum.
51% attack can be used for faked the transaction, and most of the time any kind of service like exchange will be the victim. Off course is ilegal, because what they're doing is related to asset security.
Topic: Are 51% attacks legal? - page 2. (Read 238 times)
It's clearly immoral to attack and cheat a system that is designed to prevent such attack & preserve values of honest participants. There are really many things that are moral and acceptable by honest people but not legalized, so it wouldn't be ok to attack them even if they aren't legal. And there are many things that are immoral but legal and are still protected by governments. The important is whether it's Right (Moral) or Wrong (Immoral ) to attack and steal things from people whether the things are legal or not
By gaining the majority of a blockchain network's hashrate, an attacker could perform double-spend attacks with ease. This translates to "free money" by effectively "cheating" the system. Double-spent coins can cashed out to Fiat at any exchange that lists them. Some exchanges have gone far as to block or restrict the hacker from cashing out the funds after they detect there has been a 51% attack. Crypto/Blockchain tech is decentralized and outside of the government's jurisdiction, so I'd assume there should be no legal issues by performing a 51% attack. If it's in fact legal, then why centralized exchanges prevent hackers from withdrawing the funds?
Your input will be greatly appreciated. Thanks in advance.
Your input will be greatly appreciated. Thanks in advance.
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