Topic: Bitcoin cold storage - HACKED easily (Read 12634 times)
Well what do you say is safer than cold storage? Oh yeah, put all your Bitcoins in an online wallet. This is just stupid.
"Nevertheless, the possibility that one of the core cryptographic algorithms underpinning bitcoin could be cunningly compromised, allowing a thief to pick the lock of even the most secure addresses, presents a chilling scenario."
OMG
Isn't there any way around this flaw??
OMG
Isn't there any way around this flaw??
This topic should not have been resurrected. There was little useful discussion in it to start with and it only got worse.
If that was the case than why aren't the exchanges hacked more often? Or large holders keeping their coins safe on paper?
Maybe it is time for everybody to switch to hardware wallets though.
Maybe it is time for everybody to switch to hardware wallets though.
So the only truly safe to store Bitcoin is on paper wallet? Storage of Bitcoin is one of my least favorite parts about Bitcoin, some of it is over the head of the average user that is not super technical.
How's that could happened ?
It's going to happen only if there's malware or other program that could do that.
It's going to happen only if there's malware or other program that could do that.
Your funds are not safe neither in "cold storage". Read:
https://www2.informatik.hu-berlin.de/~verbuech/klepto-ecdsa/klepto-ecdsa.pdf
or
http://www.coindesk.com/research-hackers-install-backdoor-bitcoin-cold-storage/
many of you said "cold storage is the best". well. it is not. that explains many hacks in Bitcoin which some of the bitcoiners considered to be very safe.
What's next? Mass withdrawals from Bitcoin. What can you do when you KNOW that your cold storage is exposed to be stolen? You must be stupid to keep your earnings there.
Only few people knew about this exploit. Now, any russian or ukrainian kid will try to hack the cold storages and guess what?! THEY WILL DO IT !
talk about bitcoin most secure storage,i think its depending how we secure our device too,cold storage maybe not safest way to keep your bitcoin,but i think its better than use only online wallet to store your big mount of your bitcoin. https://www2.informatik.hu-berlin.de/~verbuech/klepto-ecdsa/klepto-ecdsa.pdf
or
http://www.coindesk.com/research-hackers-install-backdoor-bitcoin-cold-storage/
many of you said "cold storage is the best". well. it is not. that explains many hacks in Bitcoin which some of the bitcoiners considered to be very safe.
What's next? Mass withdrawals from Bitcoin. What can you do when you KNOW that your cold storage is exposed to be stolen? You must be stupid to keep your earnings there.
Only few people knew about this exploit. Now, any russian or ukrainian kid will try to hack the cold storages and guess what?! THEY WILL DO IT !
Thats why I bought a HP PAVILION DV 7 with only LINUX and only WALLETS in it. Don't intend to use it for anything else. Thanks for your answers.
I just want to share with you guys my story which is also in my avatar.
First I learned about bitcoin in early 2013 and immediately fall in love with it.
I kept all my BTC in blockchain wallet, an online wallet. My bad as I opened it even in my work PC (full of spyware or viruses) so I was stolen my private key from some hacker ,trojan, or backdoor program.
I immediately after then, started using MULTIBIT CLASSIC in LINUX (not a single problem from more than 1 year) I just upgraded yesterday to a new laptop with LINUX mint latest and MULTIBIT HD which has better security.
Whats the risk of my BTC and private keys to be stolen? I think its low ,but what are they in % (using LINUX adds a lot of chances to not getting hacked easily , still possible though)
First I learned about bitcoin in early 2013 and immediately fall in love with it.
I kept all my BTC in blockchain wallet, an online wallet. My bad as I opened it even in my work PC (full of spyware or viruses) so I was stolen my private key from some hacker ,trojan, or backdoor program.
I immediately after then, started using MULTIBIT CLASSIC in LINUX (not a single problem from more than 1 year) I just upgraded yesterday to a new laptop with LINUX mint latest and MULTIBIT HD which has better security.
Whats the risk of my BTC and private keys to be stolen? I think its low ,but what are they in % (using LINUX adds a lot of chances to not getting hacked easily , still possible though)
Opening your online wallet on a PC full of viruses isn't the smartest thing to do... i never use any online wallet though. I only use software wallets, password protected.
I kept all my BTC in blockchain wallet, an online wallet. My bad as I opened it even in my work PC (full of spyware or viruses) so I was stolen my private key from some hacker ,trojan, or backdoor program.
Whats the risk of my BTC and private keys to be stolen? I think its low ,but what are they in % (using LINUX adds a lot of chances to not getting hacked easily , still possible though)
Even though you kind of made a relevant post, you still revived a very old threads for no good reason. Nobody can tell you a chance in %; exact chances in these cases can not be calculated to the high amount of variables. It is certainly possible to get hacked but is rather improbable. It depends solely on you, not anyone else. If you want to be even more sure then use a system solely for running Bitcoin. Whats the risk of my BTC and private keys to be stolen? I think its low ,but what are they in % (using LINUX adds a lot of chances to not getting hacked easily , still possible though)
I just want to share with you guys my story which is also in my avatar.
First I learned about bitcoin in early 2013 and immediately fall in love with it.
I kept all my BTC in blockchain wallet, an online wallet. My bad as I opened it even in my work PC (full of spyware or viruses) so I was stolen my private key from some hacker ,trojan, or backdoor program.
I immediately after then, started using MULTIBIT CLASSIC in LINUX (not a single problem from more than 1 year) I just upgraded yesterday to a new laptop with LINUX mint latest and MULTIBIT HD which has better security.
Whats the risk of my BTC and private keys to be stolen? I think its low ,but what are they in % (using LINUX adds a lot of chances to not getting hacked easily , still possible though)
First I learned about bitcoin in early 2013 and immediately fall in love with it.
I kept all my BTC in blockchain wallet, an online wallet. My bad as I opened it even in my work PC (full of spyware or viruses) so I was stolen my private key from some hacker ,trojan, or backdoor program.
I immediately after then, started using MULTIBIT CLASSIC in LINUX (not a single problem from more than 1 year) I just upgraded yesterday to a new laptop with LINUX mint latest and MULTIBIT HD which has better security.
Whats the risk of my BTC and private keys to be stolen? I think its low ,but what are they in % (using LINUX adds a lot of chances to not getting hacked easily , still possible though)
there are many hacking reports daily.
Where can we see those reports?
In OPs heavily hallucinating brain
I guess it's scary to live your life when you don't understand anything you read, as is the case with OP. To him, most probably reading an article that "eating dangerous substances can sometimes lead to death" equals to a summary of "eat = die". I feel sorry for him. there are many hacking reports daily.
Where can we see those reports?
Since getting into bitcoin, I have never seen anything so full of made up FUD just to try push people out.
This is the same as when a new player joins an online game. He is bulled, threatened and made to feel weak until they eventually leave the game.
The problem I see with bitcoin is there are too many people who's intention is to push people away from bitcoin.
This is the same as when a new player joins an online game. He is bulled, threatened and made to feel weak until they eventually leave the game.
The problem I see with bitcoin is there are too many people who's intention is to push people away from bitcoin.
So i read the whole post and to find out here afterwards that it was fake 
THough it is good that it was fake , would have costed me lot of work to make them more safe
THough it is good that it was fake , would have costed me lot of work to make them more safe
That would not help with this attack, as the keys are compromised during the signing whether it happens online or offline. If you have a system running a compromised version of ECDSA, there's nothing you can really do to protect the private key of an address that's been used to sign a transaction. That being said, the attacker first has to get you to use a compromised version.
The hack would be rather hard to deploy, especially on a larger base.
large scale = any online wallet can be compromised in this way. When it's about computer, you can not be ever sure. Anyway, why would someone keep a large amount of funds in BTC by having the fear that he can wake up in a morning and see : balance ZERO.
Stop trying to spread FUD dude.
It's already been established, it's near impossible to hack cold storage, unless that attacker somehow installed the compromised version of ECDSA on the cold offline wallet.
Can't be done, only in theory.
who established ?
Carlos Rienzi, head of Security at Xapo:
https://blog.xapo.com/xapo-responds-to-coindesk-article-on-susceptibility-to-backdoor-attack/
Your myth has been debunked.
BUSTED!
final words : "we believe that our deep cold storage architecture offers the highest levels of bitcoin storage security available by any bitcoin company."
why do you show me ADVERTING?
Not sure what ADVERTING is, but whatever Xapo is selling, I'm buying.
That would not help with this attack, as the keys are compromised during the signing whether it happens online or offline. If you have a system running a compromised version of ECDSA, there's nothing you can really do to protect the private key of an address that's been used to sign a transaction. That being said, the attacker first has to get you to use a compromised version.
The hack would be rather hard to deploy, especially on a larger base.
large scale = any online wallet can be compromised in this way. When it's about computer, you can not be ever sure. Anyway, why would someone keep a large amount of funds in BTC by having the fear that he can wake up in a morning and see : balance ZERO.
Stop trying to spread FUD dude.
It's already been established, it's near impossible to hack cold storage, unless that attacker somehow installed the compromised version of ECDSA on the cold offline wallet.
Can't be done, only in theory.
who established ?
Carlos Rienzi, head of Security at Xapo:
https://blog.xapo.com/xapo-responds-to-coindesk-article-on-susceptibility-to-backdoor-attack/
Your myth has been debunked.
BUSTED!
final words : "we believe that our deep cold storage architecture offers the highest levels of bitcoin storage security available by any bitcoin company."
why do you show me ADVERTING?
That would not help with this attack, as the keys are compromised during the signing whether it happens online or offline. If you have a system running a compromised version of ECDSA, there's nothing you can really do to protect the private key of an address that's been used to sign a transaction. That being said, the attacker first has to get you to use a compromised version.
The hack would be rather hard to deploy, especially on a larger base.
large scale = any online wallet can be compromised in this way. When it's about computer, you can not be ever sure. Anyway, why would someone keep a large amount of funds in BTC by having the fear that he can wake up in a morning and see : balance ZERO.
Stop trying to spread FUD dude.
It's already been established, it's near impossible to hack cold storage, unless that attacker somehow installed the compromised version of ECDSA on the cold offline wallet.
Can't be done, only in theory.
who established ?
Carlos Rienzi, head of Security at Xapo:
https://blog.xapo.com/xapo-responds-to-coindesk-article-on-susceptibility-to-backdoor-attack/
Your myth has been debunked.
BUSTED!
That would not help with this attack, as the keys are compromised during the signing whether it happens online or offline. If you have a system running a compromised version of ECDSA, there's nothing you can really do to protect the private key of an address that's been used to sign a transaction. That being said, the attacker first has to get you to use a compromised version.
The hack would be rather hard to deploy, especially on a larger base.
large scale = any online wallet can be compromised in this way. When it's about computer, you can not be ever sure. Anyway, why would someone keep a large amount of funds in BTC by having the fear that he can wake up in a morning and see : balance ZERO.
Stop trying to spread FUD dude.
It's already been established, it's near impossible to hack cold storage, unless that attacker somehow installed the compromised version of ECDSA on the cold offline wallet.
Can't be done, only in theory.
who established ?
So what everybody needs to realize is that if you don't have the common sense to take proper precautions, you will get hacked.
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