Mt gox and Bitfinex were attacked and a ton of bitcoins were lost. Yes exchanges can be hacked but they also can be very secure:
https://bitcoinmagazine.com/articles/how-to-secure-bitcoin-exchanges-or-why-all-hope-is-not-lost-1470764032/
Problem is that a lot of exchanges are not really run by professionals, some of them turn out to be a scam after years so even if they can be extremely secure against hacks you are always in a risky situation when you leave your bitcoins on pretty much any exchange.
You personally can protect your bitcoins extremely well if you are not planning on trading with them with an offline wallet plus a few other things your bitcoins can be virtually impossible to hack although you can still lose them if you make terrible mistakes.
I personally keep my bitcoins distributed between my wallet and a few exchanges where I trade, it is, I think, the best way to make sure you lose the least amount of bitcoins at any given time.
Topic: Is Bitcoin Immune From Hacking And Fraud? (Read 394 times)
The Bitcoin and the Blockchain infrastructure cannot be hacked. No Bitcoin can be counterfeit and Bitcoin network has already been 'up' so far.
What can be hacked (quite easily, even) are exchanges, online wallets, earning sites like faucets or bookmarkers. Also, users'computers could be hacked. So if you have a wallet on your computer and your computer gets hacked, you will likely lose your funds. But this is not a Bitcoin's weakness. This is your fault.
Keep in mind everything that's online could be hacked.
Also, everything that's centralized (like centralized exchanges) can be hacked. Decentralized exchanges like etherdelta are far safer.
What can be hacked (quite easily, even) are exchanges, online wallets, earning sites like faucets or bookmarkers. Also, users'computers could be hacked. So if you have a wallet on your computer and your computer gets hacked, you will likely lose your funds. But this is not a Bitcoin's weakness. This is your fault.
Keep in mind everything that's online could be hacked.
Also, everything that's centralized (like centralized exchanges) can be hacked. Decentralized exchanges like etherdelta are far safer.
The increasing value of bitcoin has made exchanges prime targets for hacking and thus has made hacks there quite lucrative.
Before starting a thread you should really improve your English. Your post is just a statement and you poll is a total mess as even a 6 yo would be ashamed of it.
Bitcoin can't be hacked.
Wallets can be hacked.
Transactions in the blockchain or the blockchain itself can't be hacked.
I really suggest you start learning on how bitcoin works before anything else.Start in this section:
https://bitcointalk.org/index.php?board=39.0
The third party services is definitely the weak point for Bitcoin. As far as I know the Bitcoin protocol has never been hacked.
Look back at all the hacks that has been done in Bitcoin and you will see that most of them were done on exchange
platforms. Bitcoin software is decentralized, but these third party software is centralized.
Look back at all the hacks that has been done in Bitcoin and you will see that most of them were done on exchange
platforms. Bitcoin software is decentralized, but these third party software is centralized.
Just like everything else, the flaw is the human behind it.
Poll you have is just worthless.
Bitcoin network is immune to hacking but not the bitcoin exchanges or web wallets.
Bitcoin network is immune to hacking but not the bitcoin exchanges or web wallets.
Neither is your own wallet on your computer if you choose to open stupid attachments or phishing links.
I'm almost willing to bet that less than 10% use a password on their client.
This question is formulated pretty universally.
Bitcoin itself (the blockchain, the software itself and the transactions) can't be hacked or manipulated in any way.
But any 3rd party software, theoretically, can be manipulated. Your PC also can be "hacked" (or better: infected with malware).
This could lead to your btc's being stolen (depending on how you store your coins).
BTC is also quite often used in frauds. Look at all the ransomware around. They collect payments via BTC, because it has those beneficial features.
But as long you store your coins right, and use your common sense with a pinch of security in mind.. your coins will stay safe and can't be stolen or "hacked".
Bitcoin itself (the blockchain, the software itself and the transactions) can't be hacked or manipulated in any way.
But any 3rd party software, theoretically, can be manipulated. Your PC also can be "hacked" (or better: infected with malware).
This could lead to your btc's being stolen (depending on how you store your coins).
BTC is also quite often used in frauds. Look at all the ransomware around. They collect payments via BTC, because it has those beneficial features.
But as long you store your coins right, and use your common sense with a pinch of security in mind.. your coins will stay safe and can't be stolen or "hacked".
The protocol itself is very safe. In fact it is one of the safest things in the fintech sector already created. The question is: will users use it wisely and make safe decisions? Well, not all of them.
The third party services is definitely the weak point for Bitcoin. As far as I know the Bitcoin protocol has never been hacked.
Look back at all the hacks that has been done in Bitcoin and you will see that most of them were done on exchange
platforms. Bitcoin software is decentralized, but these third party software is centralized.
Look back at all the hacks that has been done in Bitcoin and you will see that most of them were done on exchange
platforms. Bitcoin software is decentralized, but these third party software is centralized.
Poll you have is just worthless.
Bitcoin network is immune to hacking but not the bitcoin exchanges or web wallets. Talking about fraud there is no way to stop bitcoin based fraud/ponzis like cloud mining, hyip, doubler etc. Bitcoin users should be responsible for keeping their bitcoins securely and not to invest them in ponzis because of greed.
Bitcoin network is immune to hacking but not the bitcoin exchanges or web wallets. Talking about fraud there is no way to stop bitcoin based fraud/ponzis like cloud mining, hyip, doubler etc. Bitcoin users should be responsible for keeping their bitcoins securely and not to invest them in ponzis because of greed.
Exchanges indeed are the hottest targets of hacks and inside jobs due to the amount of money they handle every day, but bitcoin itself is very secure and before any changes would be implemented, thousands of nodes would first need to verify whether the version of the said system they're running is safe and secure. Needless to say, exchanges should strengthen their system and databases but for bitcoin, there's nothing left to improve in terms of security for now.
Only ur bitcoin is not immune is u can't keep your private keys safe
This isn’t question for the community but for the exchangers itself. The owners should be the one who must be beware of such things. There has been reported attacks on the big exchangers which completely states that they always get the hack attacks. I don’t think fraud is the problem with big companies but it could be case with newly launched exchanger and small one.
Im pretty sure that the exchangers are taking almost tight security of their servers as they are also staking their own money into the exchanger and they will never want billions of dollars just fled away like that. For the individual accounts they are giving added security with 2FA and 3D secured password. Even some exchanger have extra security like OTP authentication. With all this it seems to be impossible to crack the code. So I think we are protected completely.
The increasing value of bitcoin has made exchanges prime targets for hacking and thus has made hacks there quite lucrative.
The things you do mention are the things which involves on bitcoin or cryptocurrencies which it do really have the possibility of getting hacked. Wallets can be hacked pnce you disclose it to public and let other people have glimpse of it then youre funds are done. Hack and fraud do exist everywhere not only on bitcoin but on tradition online schemes and frauds. since you are talking bitcoin hacking it would not be possible as of these days. Im sure there are already attempts but they do failed and thats why bitcoin is being trusted by large community and now it does make names.
Do not worry. I believe that the developer of bitcoin have gone extra miles to make sure that bitcoin is Immune from hacking and fraud. But just make sure that you protect your personal wallet.
The increasing value of bitcoin has made exchanges prime targets for hacking and thus has made hacks there quite lucrative.
The network cannot be hacked or disrupted, but the wallets can be. If the users don't take proper/necessary steps to keep his funds safe, he will be vulnerable to hacker and may end up losing all his funds. Same thing goes for fraud. If you act dumb, you will fall for all kinds of scam/fraud. You are to be blamed, not the currency.
The increasing value of bitcoin has made exchanges prime targets for hacking and thus has made hacks there quite lucrative.
Yes and No also. Because there have been so many hacks already taken place into the crypto currency market and big exchangers have lost big market already.
But there are cases where exchangers were secure enough to protect themselves from the hack and before it could take place. SO it really depends exchanger to exchanger where they are vulnerable to the hacks and fraud or not.
Quote
Your poll doesn't provide answers to the question you ask.
Yeah even I'm confused why options like this which are not even closely related to question itself. Lolz. The answers where just Yes, NO, and May be!
Bitcoins rising price is attracting more and more persons including hackers.
As a result illegal activities like hacking mobile wallets or laptops has increased.
Similarly use of bitcoin currency in illigal activities like drug, gun trafficking, money laundering have also increased.
Bitcoin is decentralised and peer to peer exchange system making it more secure.
Money of bitcoin investor is always safe in bitcoins security system blockchain, which is protected by its users/ miners.
It is impossible to hack blockchain system.
Security of bitcoin wallets lies in the hands of its users, it is the duty of the user to keep its private key secure.
As a result illegal activities like hacking mobile wallets or laptops has increased.
Similarly use of bitcoin currency in illigal activities like drug, gun trafficking, money laundering have also increased.
Bitcoin is decentralised and peer to peer exchange system making it more secure.
Money of bitcoin investor is always safe in bitcoins security system blockchain, which is protected by its users/ miners.
It is impossible to hack blockchain system.
Security of bitcoin wallets lies in the hands of its users, it is the duty of the user to keep its private key secure.
atleast put right options for your question,anyways the answer is straight no, everything on internet is immune to be hacked how much small the probability is, it can be due to virus,crashing of internet and fraud exist everywhere,if you not smart enough about what you are doing you are more likely to be fraud.you need to smart enough and know about the companies ,ideas,or what ever the thing you entering into.
It's possible for anything to be hacked if you're not secure (i.e. giving out information to sketchy websites), but similarly it should be safe as long as you're careful. Essentially, Bitcoin is as protected as you personally make it to be
The increasing value of bitcoin has made exchanges prime targets for hacking and thus has made hacks there quite lucrative.
The FBI reports said that $28 million in losses were reported to them in 2016, triple what they saw in 2015. But that’s only what’s reported.It’s hard to imagine a money launderer or terrorist emailing the FBI to let them know they were hacked and lost money. That means that no one actually knows how much money has been lost to hacking, but the anonymity and irrevocability associated with bitcoin transactions means that the money lost is also irrecoverable."
Losing money or theft isn't a hack of the blockchain. It's a hack of someone's wallet password.
Any other claims of a successful hack of the bitcoin blockchain?
there is no successful hack of the Bitcoin blockchain. The hackers hack someone's wallet to stole their Bitcoin. Thank you, I was a bit confused about this concept.
The increasing value of bitcoin has made exchanges prime targets for hacking and thus has made hacks there quite lucrative.
The FBI reports said that $28 million in losses were reported to them in 2016, triple what they saw in 2015. But that’s only what’s reported.It’s hard to imagine a money launderer or terrorist emailing the FBI to let them know they were hacked and lost money. That means that no one actually knows how much money has been lost to hacking, but the anonymity and irrevocability associated with bitcoin transactions means that the money lost is also irrecoverable."
Losing money or theft isn't a hack of the blockchain. It's a hack of someone's wallet password.
Any other claims of a successful hack of the bitcoin blockchain?
The increasing value of bitcoin has made exchanges prime targets for hacking and thus has made hacks there quite lucrative.
The FBI reports said that $28 million in losses were reported to them in 2016, triple what they saw in 2015. But that’s only what’s reported.It’s hard to imagine a money launderer or terrorist emailing the FBI to let them know they were hacked and lost money. That means that no one actually knows how much money has been lost to hacking, but the anonymity and irrevocability associated with bitcoin transactions means that the money lost is also irrecoverable."
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