Can Your Bitcoin Wallet Be Hacked? How Can You Secure It? - page 7.

South Park

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Quote from: livingfree on April 05, 2021, 05:31:32 PM

Web wallets should be used by a newbie just as a wallet temporarily which they'll send the funds from there to a better wallet if their plan is to hold it for a very long time.

There were a lot of series and news that exchanges have been hacked and many users have been badly affected by it because they trust those platforms as a web wallet.

And we also need to be careful using any wallet and make sure that you keep private keys offline or in a written form.

We must recognize that using cryptocurrencies can be a very challenging experience especially for those that are not really that good with technology so I do not have a problem with newbies at the beginning using an exchange or a web wallet as their first wallet since I know I began my journey in the same way, but after some weeks then it is imperative that you move your coins to a wallet that only you control and if the amount of coins you have is significant then getting a hardware wallet is a must.

Willitivity

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There's no way a bitcoin wallet can be hacked without the owner leaking the private keys or the seed phrase, if the owner of the wallet is a lousy type of person that keeps important things anywhere someone else can easily find it Tongue

of course that wallet can be hacked, as long as any private details to that wallet is been leaked, there's bound to be a lose of funds when that happens, that's why it important to safe guard your seed phrase and private keys to avoid such scenarios.

nightxglow

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I guess anything within the internet can be hacked, however, the question is whether it's easy to be hacked or not.
I guess it all depends, bitcoin wallet already have complicated password, and i think it's such a good thing. People can't easily access our wallet, or guessing the password cause it'll never work. We can even barely remember our own password lol. However, there are many scams out there, and many people still fall for it, resulting in their wallets get hacked. How to secure it? Make sure you're the only one to know your password, save it securely, don't click on random websites, don't believe anything that seems fishy, might be a scame, and always be careful of course.

repear7

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BTC wallet can hacked, if wallet owner make any mistake. If you use software wallet, then it have high chance to be hacked. If you put your private key in phishing website, Then your wallet will be hacked. We only can get rid of it by being careful.

Renampun

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Quote from: lovesmayfamilis on April 05, 2021, 08:17:01 AM

If the owner of the wallet knows how to use the wallet and knows the security measures, this will not happen. Cases of hacking and theft of bitcoins are often described here, but all this happens due to the carelessness of the owners.

carelessness is the root of bad luck...
The most important thing that must be secured is the private key and also the wallet password, if you are careless about storing this your wallet will not only be able to be hacked by people but your wallet could be locked.

Kittygalore

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Quote from: Yayis on April 07, 2021, 10:41:18 PM

Just use a cold wallet and never tell anyone you invested in crypto.

This is the most on point answer that I have seen in this thread, and @Yayis is right, you just have to have a cold wallet with all the necessary credentials to access the wallet hidden away and you have to shut up about it, you will not be a target if they don't know that you have something valuable.

TastyChillySauce00

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Quote from: ultrloa on April 06, 2021, 07:46:18 AM

Quote from: TastyChillySauce00 on April 06, 2021, 04:38:52 AM

Quote from: livingfree on April 05, 2021, 05:31:32 PM

Web wallets should be used by a newbie just as a wallet temporarily which they'll send the funds from there to a better wallet if their plan is to hold it for a very long time.

There were a lot of series and news that exchanges have been hacked and many users have been badly affected by it because they trust those platforms as a web wallet.

And we also need to be careful using any wallet and make sure that you keep private keys offline or in a written form.

If using web wallet, might aswell use the available exchanges' wallet that are 100% more reliable and too big to scam your pennies like popular exchange platform. The code of that web wallet might be published in github and reviewed thorougly by the community but we don't know the real code that's in the production and it could contain logging or such.

To many of those web wallets available and we don't know which of them is truly secured since everyone of them is vulnerable from attacks. So for choosing best the best wallet better to use those wallet which are regulated and applied for a license on your country since this one ca. give proper security to their users.

Exactly, at this point where many some untrusted web wallets appearing it's just better to stick with a wallet that are somewhat owned by a regulated entity if we're trying to use online wallet.
Otherwise, just use desktop wallet that has been popular since ages ago. Too many irresponsible people out there trying to snatch our things nowadays.

Yayis

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Just use a cold wallet and never tell anyone you invested in crypto.

CarnagexD

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Every wallet has its weaknesses making it very susceptible to hacking, stealing, or loss. I personally keep a hard wallet as a backup to my virtual wallet so I can gain access to it either way or just when the time calls it. It brings me the peace of mind as I know my wallet is secure in more ways than one. Although the preference for which wallet to use is hewvily dependent on its user, so you have to ask yourself if the benefits of keeping your bitcoin in a particular form of wallet outweighs the dangers it is susceptible to.

doomloop

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Quote from: 4king on March 26, 2021, 10:56:49 AM

There are many people in 2021 that have decided Bitcoin is the future - and they aren't wrong either!

One question a lot of people are asking is whether your Bitcoin wallet can be hacked or not - well, can it? And is there a way to secure these funds? https://4king.com/can-your-bitcoin-wallet-be-hacked-how-to-secure-your-funds/

Sure it can be hacked and this is a question that a lot of people keeps on asking all the time because they are trying to be careful and wouldn’t want to lose their money that they have stored in their cryptocurrency. Cryptocurrency wallets can be hacked and you even run double the risk when you’re making use of a crypto wallet that is online base, that means that if the platform that is Hosting that wallet is hacked you’re going to be at the risk of losing your money in that hack.

But, I think it’s always be careful ahead and try to not to drop traces that’s going to attract hackers to you, if you’re the type that’s dropping such traces then you’re running huge risk.

KryptoKings

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Quote from: 4king on March 26, 2021, 10:56:49 AM

There are many people in 2021 that have decided Bitcoin is the future - and they aren't wrong either!

One question a lot of people are asking is whether your Bitcoin wallet can be hacked or not - well, can it? And is there a way to secure these funds? https://4king.com/can-your-bitcoin-wallet-be-hacked-how-to-secure-your-funds/

Hacking a secure Bitcoin wallet is toughest job. Unless you holding million of dollars worth of btc in it, I don't think anybody will going to give it even a try.
Also most people wrongly use term hacking for password stealing.
Sometimes you accidentally diaclose your password through phishing or other ways and someone use your password to stole your funds. That's not hacking technically.
If someone get into your wallet by cracking your password or loopholes in system, that is hacking which is not possible with btc wallet.

Alucard1

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Online wallet is prone to get hacked, the internet is one of the important things that hackers need to access the account of individual, there is need high security on your device to avoid attacks and make sure that your computer or your cellphone is a virus-free, so always on your antivirus. You should also be careful when downloading software, clicking malicious advertisements, email links, and many more as those are the common ways of spreading the virus on your device. The value of bitcoin is now too high so expect that hackers are active nowadays.

Jawhead999

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Quote from: hmw on April 05, 2021, 07:45:06 PM

Just few weeks ago I was able to recover my $80k which was stolen from my blockchain and that really brought me back to life again, agent James helped me . All you need to do is provide evidences of your loss and send to recoverlostcoin@cyberservices[dot]com to help you work on the recovery process.

If you don't have any proof what you're talking about better go away instead of spreading your lies.

Quote from: Banprox on April 06, 2021, 05:07:21 AM

You need to keep your private key in the safest place. Don't put it in anywhere that can be hacked. Write down it in your diary and keep your diary in Locker.

Diary/Book is not a safe place to keep your private key because it can be eaten by termites, burned, mistakenly written etc. The best way to keep private key is using steel wallet such as cryptosteel [1], it prevent from fire, corrosion, etc

Quote from: ?? on ??

Why, when it comes to digital currencies and digital wallets, does everyone point to the loss of a wallet?
If you also have cash and do not know how to use and maintain it, you will definitely lose it.
The same goes for digital wallets, you just have to not lose the recovery key and do not share your password with anyone to make the most of the benefits of the digital world. Also, always use Two-Factor authentication for more security.

Back up recovery key, using strong password and set up 2FA doesn't prevent you from getting hacked because it's useless. The hacker can directly go to the hot wallet of the wallet/exchange and get your coins on there.

Quote from: ?? on ??

Yes, a Bitcoin wallet can be hacked, if someone does not secure his wallet through the security settings and if the person does not activate two-factor authentication, and if he logs into his web wallet through a fake website, we must be careful, as the hackers' intrigue does not end.

Don't confuse between hacked and careless, it's a fault from the user since he didn't be careful before login into his wallet.

Quote from: pankowri on April 07, 2021, 02:51:43 AM

The highest safe wallet is offline and physical wallet but now time people upgrade their lifestyle so it is easy to use online wallet though there is a lot of risks we know No risk No gain.

What do you mean of No risk No gain? I don't find any correlation between risking your money in online wallet and what gain you will get? It's different with those lending platform or High yield farming, those I mentioned before you will get some % gain if you lend/deposit your money on that's platform

[1] https://cryptosteel.com/

pankowri

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Of course, it can be. If you aware of every time and maintain high security then can minimize the chances of losing. Any type of wallet people use can hack, if you safe your online then they can attack your PC. The highest safe wallet is offline and physical wallet but now time people upgrade their lifestyle so it is easy to use online wallet though there is a lot of risks we know No risk No gain.

Lorence.xD

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Bruteforcing the wallet would take a lot of time like aeons that we are talking about, there are other ways to hack a wallet besides the impossible brute force, you can target someone by sending them a malware through emails or links with suspicious origins, or plant a RAT(Remote Access Tool) in a persons computer and see what the person sees and lastly, you can plant a keylogger and record their keystrokes.

Trinx01

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Everything connected to the internet can. be hacked, especially if you are storing your assets in an exchange because most of the exchanges are already get hacked and those people who store their assets in a certain exchange have lost their money as well. The best thing to do or to use to avoid getting hacked is to use a hardware wallet that is the safest wallet that you can have but if you weren't able to buy a hardware wallet then just take care of your device, avoid installing unnecessary software as some of the software that we can install in our device are fake and can give virus on your device also avoid clicking some links sent to you by a stranger.

Wawa2013

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Lots of incidents of Bitcoin wallets being hacked, therefore we must be careful to choose a safe Bitcoin wallet. Most vulnerable to being hacked
if we use web wallets or exchange wallets, both of which are most often hacked. Therefore I strongly discourage storing Bitcoin on web wallets
and exchanges wallets in the long run. Based on my experience and many articles that I have read, the safest Bitcoin wallets are hardware wallets
and desktop / mobile wallets. But I recommend using hardware wallets instead of desktop wallets, because it is more difficult to hack. Even though
we have to pay a lot of money to buy the device.

Lordhermes

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Quote from: Pmalek on April 05, 2021, 12:24:53 PM

Quote from: ?? on ??

Most likely, any wallet can be hacked. But still I prefer to use hd and licensed wallets like ownr and trust.

Ownr is a closed-source wallet and it's a multicurrency client. If your intention is to store bitcoin, you don't need a multicurrency wallet for that. There are many wallets that belong to the bitcoin-only, non-custodial, and open-source categories that you can use instead.

Trust wallet is also a multicurrency software wallet. It's a closed-source app just like the Ownr wallet. That means that the wider Bitcoin community has not had a chance to inspect the code and check how it works.

I'm getting confused here mate, you are saying storing Bitcoin and other altcoin in a multicurrency wallet for a long term is not advisable? I have read in several places that wallet that gives out mnemonic seed phrase, and other private keys are good for storing coin right? but trust wallet and ownr wallet has that, so you trying to say trust wallet is not good for storing coin for long term? Even Atomic wallet too? They are all multicurrency wallets. I know of the fact that trust is not an open source wallet, I don't know the rest.

As an instance, if someone need to store litecoin for a long term, the person should have a non-custodial wallet that can store only litecoin? Is that what you mean?

7788bitcoin

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Quote from: Yatsan on April 06, 2021, 07:39:20 PM

Anything that can be seen online is vulnerable to hack most specially if you are to create an online wallet to make storage not just for your Bitcoin but as well as into your other cryptocurrencies.

If you are using a third party wallet the only thing you need to looks is their set up and whether they can be trusted, you cannot say everything can be hacked. I would like to see any stock exchanges getting hacked but we hardly see that Tongue

.

Always use ample protection in your home computer or laptop before accessing internet and never use them to visit phishing sites, have a bookmark for all the sites you visit and never visit sites that you do not trust using your computer and make sure you clean everything up on a daily basis and lock the ability to make any updates and changes without your permission.

Still the best practice is to get a hardware wallet and never store any valuable information in an hard disk that is online most of the time.

Yatsan

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Anything that can be seen online is vulnerable to hack most specially if you are to create an online wallet to make storage not just for your Bitcoin but as well as into your other cryptocurrencies. Your wallet can be hacked if you are not that careful on securing your details and information that is bounded within your account and if you have not secure it to the maximum extent of security available into the Bitcoin wallet that you have chosen. Also, it can also be intruded by hackers who happen to create websites and pop ads that you accidentally click while browsing so better get rid of those and be aware not to entertain strange stuffs online to avoid yourself getting caught up into a situation that might potentially hack your account.

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