Topic: Can bitcoin be stolen? - page 2. (Read 1537 times)

Your Bitcoin is vulnerable to being stolen only if your wallet information is exposed on the internet. This can happen if someone gains access to your private key or if you accidentally download a virus on your computer, which can compromise your personal computer.

Bitcoin can be stolen if the wallet holding it is compromised. If your wallet is safe then your Bitcoin will be safe, otherwise If your wallet is compromised, your assets can be stolen.

So, ensure that you keep your Bitcoin safe. Store in a hardware wallet if you can afford one.

You have said it all, though very short but it is a very good statement. Hardwallet is the best wallet to be used to store our coin(s), it has been trusted and tested over time with better reliability than any other way of storing the coins. As you said, we must be clever about it, and this goes a whole long way even as the word clever is so huge but the holder of the Hardwallets is often taken for granted. Many believed that they had their wallet in a hard wallet but were never clever about it but they had their coins still stolen all the same.

This calls for smartness in handling it. Many stories about this are online in this regard and the same are advised on the same online to prevent such. It can't hurt for anyone having such wallets to seek such knowledge so that they can effectively protect their assets. This is especially true as the person who could deem it fit to buy a hardwallet to hold their coin must have a sizable value of the coin(s) in there to warrant such buying.  "What worth doing is worth doing well."

what I believe until now is that the bitcoin or blockchain system is safe and it is impossible for hackers to penetrate it. If you get hacked, it's not Bitcoin's fault but your negligence. Until now, it is impossible for hackers to guess what your phrase is, which consists of very unique upper and lower case numbers. Most cases of theft occur due to exchange and user error. If there is a system error it seems unlikely. especially now that security is layered. So the question is, can it be stolen? The answer is yes, but because it's your fault. not from the blockchain system

Not "are stolen" but "can be stolen" if we don't secure them properly. Who do we blame here? Of course our selves only, so complaining about it doesn't make sense. What can we do instead is accept the situation and learn from our mistakes. Private keys must actually be separated from the same storage where we keep our assets because our assets are primarily targeted by the hackers but who will be on their right mind to use the same wallet again? Because if they do, their coins will only get lost immediately.

Your recommendation of using a hardware wallet is great but on what brand? Since there are now lots of them and some or many of them might have a poor quality.

Hacking is one of the biggest reasons why Bitcoins can be stolen in different ways. Bitcoins can certainly be stolen if a wallet is hacked. Or if the device in which Bitcoin is stored (laptop, tablet, mobile phone) is stolen, then Bitcoin can be stolen. Many times different investors hold Bitcoin holdings in exchange wallets for some reason if that central exchange is hacked then there is a possibility that the Bitcoins will be stolen.
If device lost,then Bitcoin would be lost for ever.
If 12/24 phases lost or hacked, then Bitcoin would be lost for ever.
If centralized exchange would be hacked, then Bitcoin would be lost for ever.

With Bitcoin, basically you will have its private key and the saying is "Not your keys (Private keys), not your bitcoins".

How to own private key of your bitcoin?

You must use a non custodial wallet (self custodial) wallet to have private keys or mnemonic seed from which you will have private key. To have more safety, to avoid back doors, you must use open source wallet.

Wallets can be non custodial but they can be either close source or open source. With close source wallets, you have risks of back doors in their codes. With open source wallets, they can be reproducible and tested by developers so if there are back doors, it will be detected by community.

https://walletscrutiny.com/

Of course Bitcoin can be stolen as it can be stolen like any other tangible object. Just like keeping money in a bank can be stolen, so can bitcoins be stolen in a wallet. Bitcoins can only be stolen if the security system of the wallet where bitcoins are stored is compromised. This is why Bitcoin wallet security is so important. If for some reason this security system is hacked or seed phase or phases words are stolen then Bitcoin will be hacked by hackers. ্ So you have to be very careful in these security systems.

I've grown to respect the delicate balance between technology and responsibility. Creation and stewardship dance divinely.

Bitcoin releases us from financial constraints thanks to technical ingenuity. Free will comes with the obligation to protect our possessions. Not the wallet, but our actions and choices determine security. Bitcoin is more than a currency - it teaches us about digital personal responsibility.

Only when we relax and forget that our possessions are only as safe as our least vigilant moment in the digital cosmos does theft become "guaranteed". Supporting Bitcoin requires realising that although it empowers us financially, it also puts us in charge of our digital futures.

This is a basic step that must be taken because in the end regardless of the wallet used everything will feel the same if we are still negligent and not careful in treating the assets we have so that theft can still occur even though the wallet we have is quite sophisticated because it is not a problem about the wallet but the problem is the thoroughness that we must have.

Bitcoin can be stolen and that is a thing that can be said to be certain because anyone can be exposed to theft like this as long as they are not careful in maintaining their assets but in the end such things can be minimized by those of us who do not give ourselves a gap so that we are easy to be deceived in this case so that what the thieves expect does not happen and the way is to limit ourselves from openness, especially for Wallet issues that we have such as seeds or other things related to Wallet.

Yes, Bitcoin can be stolen through various means such as hacking, phishing, malware attacks, or physical theft of devices where Bitcoin is stored. It's important to take necessary security measures to protect your Bitcoin holdings, such as using secure wallets, enabling two-factor authentication, and keeping your private keys safe.

   Yes it can this is why it’s advisable you write down your seed phrase in your journal or better still store them in an hardware device. Your device will be vulnerable if some attacks are lunched to it thereby exposing your data to the attacker. Your attacker might be someone close to you or someone watching  you from a distance monitoring your every move. This is why storing your seed phrase in your phone is not wise because you won’t have to fall for traps like that. Even the banks get robbed and they lose huge amount of money, hackers and robbers are just vices that can’t be fixed. Also using public Wi-Fi or unsecured internet can give hackers access to  your cryptocurrency wallet. For added peace of mind, use a secure internet connection and connect to a virtual private network (VPN) whenever you engage in online transactions or access your cryptocurrency wallet. A virtual private network (VPN) is a service that encrypts your web browsing activity and protects it from surveillance and cybercriminals. It also allows users to change their IP address and location.
   The best thing is to be extremely cautious on our ends. No one can steal bitcoin from you if it is in a wallet that you control AND you never give anyone else access to your wallet. BTW, there is never any reason for you to give access to your wallet to anyone else. Never, never, never. No matter sugar coated it may sounds they just want one goal that is too rip you off.  Take preventative measures to protect your digital currency and learn best practices to minimize the risk of loss or theft. Stay informed, take precautions and make informed decisions to protect your valuable digital assets.

For me am new to bitcoin discussion. but I have little experience in it, your Bitcoin can be stolen from your wallet by someone who knows your Bitcoin details and can also be hacked by hackers.

But if you want such thing not to happen to you anytime, just make sure you store your seeds phrase safe from hackers which are the major thing that make BTC to be safe for long period of time and nobody can have access to your BTC unless you click hackers links that will display your private details before it can be stole from your wallet.

Storing your private keys in your phone is not advisable to users and it will expose you to your hackers and, it will be very difficult to identify hackers and the hackers are those people who are close to you and they  have access to your phone at anytime but you will not know that they have discovered your keys in your phone.

Purchasing a hardware wallet is a viable option for safeguarding your cryptocurrency, but it may not be feasible for new investors who prioritize earning profits from their initial investment. This may change if they have a substantial investment and surplus funds to allocate towards a hardware wallet.

The possibilities for Bitcoin to be hacked depends on the tenderous and careless handling of the Bitcoin owner. This is why it is loudly sounded that you must take security control of your phrase keys and keep your passwords indicted to yourself for any little exposure of your keys stands a threat to compromise your wallet. You can also be hacked if you are not careful of devices and you logs your account in.
And of course, whatever platform with the requirements of passwords is possible to be hacked and that is why your passwords are your Private key's

bitcoins can be stolen when another party has access to your private key and they use it to access your wallet and drain all your bitcoins. so as long as hackers don't have access to your private key, they won't be able to hack your blockchain wallet. and therefore, if you have bitcoin, you should store the private key in a secure place such as air-gapped hardware wallets or write it down and store it in a safe place in your home.

To guarantee the safety of your bitcoin from hackers, you have to secure your private keys. In most cases it is not advisable to safe it online and do not download wallet from unknown websites where you could just be funding the wallet for the scammer.
Mind you. Nothing on earth is absolutely free from theft if you are care-free or careless. Thieves are awaiting for your slightest slumber for Rob you.

Not if you use hardware wallet in a clever way... haha

Let me say that I was so surprised when I read the OP, we are in a porous world where everyone is desperate, so anything can happen, especially if we loose guard. You can imagine those who would be careless with their seed phrase, password and even their gadgets, their coins can be stolen of course, and this will be easy for that matter.

Needless to say, online stealing and hacking are also possible, and guess what, most of them would disappear into thin air and they will never be found. You can see that it is in two categories now, one is self carelessness, while the other is a heist. The second can happen to anyone no matter how smart you are, we should just pray that we are not a victim of such. And these days when we have the service of mixers and tumblers at our disposal, to change the assets to what you can't even imagine can be so easy, which also aids fraudulent acts on the internet.