Cyber attacks are good for Bitcoin - page 2.

Cryptoreflector_666

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Quote from: The_Tick on October 26, 2018, 10:57:48 AM

The personal data of 9.4m Cathay Pacific passengers has been stolen in a cyber attack on the Hong Kong airline.

https://www.telegraph.co.uk/technology/2018/10/24/cathay-pacific-says-data-94-million-passengers-stolen-hack/

Quote

Ryan Wilk, vice president at NuData Security said “Data in the wrong hands – especially payment card information – can have a huge impact on customers, far beyond the unauthorised use of their cards.”

“Payment card information, combined with other user data from other breaches and social media, builds a complete profile. In the hands of fraudsters and criminal organisations, these valuable identity sets are usually sold to other cybercriminals and used for myriad criminal activities.”

Maybe instances such as this will wake people up to the tangible benefits of using Bitcoin, blockchain and cryptocurrency-not being as vulnerable in an age of unbeknownst vulnerability.

The case is very revealing. I don't know about the others, but cybersecurity is exactly what I noticed in the first place. It's a shame when long works fly to the trash, when another fraudster drains your precious coins just because you blunted and lit up somewhere your private key. Be careful, use cold wallets and don't be scammers.

DanieIssac

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Many companies will realize the benefits they get when using blockchain, and eventually there will be many people using blockchain without knowing it.

dvdrewritable

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Cyber attack is really dangerous for each and every institution but it's been a normal issue for this digital world and we have to take a better step for protecting our assets, private keys, and also make secure our information from cybercriminals. Cyber attack is a threat to bitcoin users and for blockchain technology, it is harmful, not good for BTC.

proTECH77

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Bisq Market Day - March 20th 2023

Most of these happening will draw the attention of these companies to adopt the power of the blockchain technology to build a solidify platform that will not be vulnerable to hackers. Though this might not be another way for these companies to accept the use of bitcoin rather the technology that's involve, this will give another shift/lift in the acceptance and adoptance of bitcoin.

sublime5447

legendary

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Common people will definitely use blockchain and cryptocurrency later but only a few of them are aware of it because there is no benefit they will get from knowing this, what they want is every of their business can run according to their will whatever happens in the back.

josephdd1

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Perhaps, it may be good as it may be seen as a good incentive to invest more in security around cyber attacks but its definitely damaging the crypto.

tegarp90

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Quote from: The_Tick on October 26, 2018, 10:57:48 AM

The personal data of 9.4m Cathay Pacific passengers has been stolen in a cyber attack on the Hong Kong airline.

https://www.telegraph.co.uk/technology/2018/10/24/cathay-pacific-says-data-94-million-passengers-stolen-hack/

Quote

Ryan Wilk, vice president at NuData Security said “Data in the wrong hands – especially payment card information – can have a huge impact on customers, far beyond the unauthorised use of their cards.”

“Payment card information, combined with other user data from other breaches and social media, builds a complete profile. In the hands of fraudsters and criminal organisations, these valuable identity sets are usually sold to other cybercriminals and used for myriad criminal activities.”

Maybe instances such as this will wake people up to the tangible benefits of using Bitcoin, blockchain and cryptocurrency-not being as vulnerable in an age of unbeknownst vulnerability.

There are cyber attacks every seconds in this world.
This is also why investors are afraid invest in bitcoin because it's in the internet. Everything in the internet are not safe.

batang_bitcoin

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Sorry but cyber attacks are no good, it is giving harm and problem not only to the company that was attacked but to the people who has been affected by it. But at least this will open their minds that they have to increase and strengthen their security and blockchain would be the best contender if they have to upgrade. And not only blockchain but also bitcoin would get their sentiment, no credit card information to hack and will be stolen if they apply it.

Nasonn

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That's the benefit of blockchain, it's immutability to hack but that's not to say that blockchain doesn't have its flaws since once information is stored on it it becomes impossible to remove it.

pixie85

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Quote from: KryptoKai on October 27, 2018, 07:01:41 AM

Bitcoin isn't immune to cyber attacks either, mt gox is a prime example along with the many other exchanges that have been hacked. It's only good for those that know how to secure it in cold storage wallets

Gox could have recovered but it suffered from a mix of cyber attacks and mismanagement.

Attacks are always good because they're not allowing you to take your guard down and they're constantly testing your security. White hat hacking is a prime example of such testing. A business can survive hacks as long as they don't do too much damage.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

One of the reason I started to use Bitcoin was because I lost money on fraudulent transactions that was done, when my credit card was used illegally for online purchases. I looked for an alternative payment option that was not storing my payment information and this brought me to Bitcoin.

This is one of the strongest reasons why Bitcoin is much better than credit cards for online payments. Nobody store any payment details in some exploitable database that can be hacked. Wink

Juggy777

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Quote from: The_Tick on October 26, 2018, 10:57:48 AM

The personal data of 9.4m Cathay Pacific passengers has been stolen in a cyber attack on the Hong Kong airline.

https://www.telegraph.co.uk/technology/2018/10/24/cathay-pacific-says-data-94-million-passengers-stolen-hack/

Quote

Ryan Wilk, vice president at NuData Security said “Data in the wrong hands – especially payment card information – can have a huge impact on customers, far beyond the unauthorised use of their cards.”

“Payment card information, combined with other user data from other breaches and social media, builds a complete profile. In the hands of fraudsters and criminal organisations, these valuable identity sets are usually sold to other cybercriminals and used for myriad criminal activities.”

Maybe instances such as this will wake people up to the tangible benefits of using Bitcoin, blockchain and cryptocurrency-not being as vulnerable in an age of unbeknownst vulnerability.

I personally feel such incidents won't act as an catalyst directly, but indirectly the companies will look at alternate payments system as such hackings are bound to create fear in the minds of their investors. It'll be interesting to see if any major company decides to implement blockchain and crypto payments, but any global company that adopts it will face regulatory backlash.

Script3d

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Quote from: CoinEraser on October 27, 2018, 08:47:55 AM

Cyber attacks are never good, neither for Bitcoin nor for others. Only the attackers benefit from it and others take harm. Even the crypto system suffers from cyper attacks and hacks on exchanges or normal people with crypto currencys. So far no system is really 100% secure and almost everything can be hacked. Without hacks and attacks crypto would certainly be further than now, but many people have lost their crypto currencys and therefore left the crypto space. Therefore you should never find it good if a system is hacked or attacked, because the hackers can learn more and more and maybe do more damage. Unfortunately, every one of us can be the next victim. Angry

the thing is bitcoin doesn't store any information about the user unlike others it will just show transaction history and what will they do with the transaction history how will the hackers use the information they have sure you can steal those coins if you have the private key but not the information of the user unlike credit card that have can be stolen and hackers will use your information to some shady stuff, coins is the only thing that is stolen its a huge deal to some people but it's better than having your money stolen + your identity, nah hackers can only bruteforce private key and do a 51% hash rate attack and reverse transaction which clearly wont happen.

Cacingkemi

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This is good for the blockchain system and certainly in the future it will be implemented by several companies and certainly very good for BTC as their money storage but cyber attacks are very bad.

Quote from: Marcel666 on October 26, 2018, 01:40:57 PM

Every system has vulnerabilities and can be exploited at some point or another.
There has been repeated issues of exchange hacks with people losing millions of dollars worth of cryptocurrency.
While these hacks are most times not directly linked to the blockchain technology it would still be related to vulnerabilities of bitcoin

What are you talking about? Did you see the article that the data airlines were attacked by cyber,BTC is not vulnerable to cyber attacks it's safe and you can see the conversation in this thread.

CoinEraser

legendary

Activity: 1988

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Cyber attacks are never good, neither for Bitcoin nor for others. Only the attackers benefit from it and others take harm. Even the crypto system suffers from cyper attacks and hacks on exchanges or normal people with crypto currencys. So far no system is really 100% secure and almost everything can be hacked. Without hacks and attacks crypto would certainly be further than now, but many people have lost their crypto currencys and therefore left the crypto space. Therefore you should never find it good if a system is hacked or attacked, because the hackers can learn more and more and maybe do more damage. Unfortunately, every one of us can be the next victim. Angry

biskitop

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yes, someone will start to look at using blockchain technology that allows peer to peer transactions and without third parties that allow safer and minimize fraud and also cyber attacks.

harimauagam

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there may be side effects with the increase in the price of a 1 eth or btc and that is impossible for several times and only happens once.

KryptoKai

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Bitcoin isn't immune to cyber attacks either, mt gox is a prime example along with the many other exchanges that have been hacked. It's only good for those that know how to secure it in cold storage wallets

bolbau

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cyberattack is not good for bitcoin especially for large exchangers because this is very dangerous, many assets can be lost and reduce trust in the exchanger. but if you say that cases of attacks on conventional systems have a positive impact on the existence of bitcoin I strongly agree. the public will begin to realize that the blockchain technology owned by bitcoin is safe and can be an alternative to investing or simply storing digital assets.

Screamshot

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FUTURE OF SECURITY TOKENS

There is no perfect establishement even cryptocurrency is not free from the attacks of hackers and fraudster. We a bit happy at any one's down turns rather we can only give the advantages cryptocurrency has over other means of transcations

Topic: Cyber attacks are good for Bitcoin - page 2. (Read 851 times)