Is it true that bitcoin immune from hacking & fraud ?? - page 7.

doraegun

jr. member

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Quote from: Izalcomax on March 25, 2018, 10:23:44 AM

Consider the value of bitcoin,it has made exchanges prime targets for hacking, and thus has made hacks there quite lucrative..
I mean the anonymity and irrevocability associated with bitcoin transactions means that the money lost is also irrecoverable, CMIIW..

In shortly speaking bitcoin stability is better than other crypto currency. you know what? Despite of all speculation that bitcoin aledgedly was scam that was many people say and many times that hacker would continuously attack until it will shuting down. Bitcoin is continue their service perfectly. All dominated things are always on top of the delicate situation because of the people with self interest. That's why you would say bitcoin are prime target of hacker, regarding of unrecoberable fund because of wrong transaction its depend upon the company because before we proceed of some transaction there is a guidlines that must be follow.

whirlcoin

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Quote from: Altf4 on May 30, 2018, 08:31:15 AM

Quote from: whirlcoin on May 30, 2018, 07:34:01 AM

Quote from: maloibtc on May 10, 2018, 10:06:37 AM

I don't know for sure but I think that wallet with bitcoins can be easily hacked if a person is a great hacker. As for the fraud, there are many fraudsters and scammers today and crypto market isn't an exception

Bitcoins are not hacked while in the transaction it can be hacked while we keep them in an unsecured wallet but if it is a fiat transaction then it can be hacked while in the transaction too by great hackers.but fraud means if you lay bitcoins to fraud then you will never get back to your bitcoins because all the transactions are irreversible.

I do not think it is true that bitcoin is immune from hackers, I agree that cryptocurrency transactions from wallet to another wallet might be hacked, because hackers are waiting for timing that our wallet be open and expose to hacking activities, and this might gonna happen.

It is only possible if you let someone know about your private keys or your computer comptomised by the phishing links,when you store and make transactions from an hardware wallet you will be completely safe and it is not that much costly a hardware wallet it is only cost about less than $100.

Altf4

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Quote from: whirlcoin on May 30, 2018, 07:34:01 AM

Quote from: maloibtc on May 10, 2018, 10:06:37 AM

I don't know for sure but I think that wallet with bitcoins can be easily hacked if a person is a great hacker. As for the fraud, there are many fraudsters and scammers today and crypto market isn't an exception

Bitcoins are not hacked while in the transaction it can be hacked while we keep them in an unsecured wallet but if it is a fiat transaction then it can be hacked while in the transaction too by great hackers.but fraud means if you lay bitcoins to fraud then you will never get back to your bitcoins because all the transactions are irreversible.

I do not think it is true that bitcoin is immune from hackers, I agree that cryptocurrency transactions from wallet to another wallet might be hacked, because hackers are waiting for timing that our wallet be open and expose to hacking activities, and this might gonna happen.

whirlcoin

full member

Activity: 602

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Quote from: maloibtc on May 10, 2018, 10:06:37 AM

I don't know for sure but I think that wallet with bitcoins can be easily hacked if a person is a great hacker. As for the fraud, there are many fraudsters and scammers today and crypto market isn't an exception

Bitcoins are not hacked while in the transaction it can be hacked while we keep them in an unsecured wallet but if it is a fiat transaction then it can be hacked while in the transaction too by great hackers.but fraud means if you lay bitcoins to fraud then you will never get back to your bitcoins because all the transactions are irreversible.

EnricoGomez

member

Activity: 238

Merit: 11

I think not because there will always be people that would easily fall for "too good to be true" frauds and you cannot change that unless there is a good education on preventing them or just be moral enough to not scam - there will always be greed for money and they would do anything for it.
I think the blockchain technology and the legit wallets are very safe and stolen or hacked accounts are pretty sure is more on the users' fault.

prtty2gal2

hero member

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I’m becoming a little bit confused when this question is asked. Normally, when ever I’m asked Bitcoin and fiat (banks) which one is more safe to use in terms of security, I will usually say it is banks, but after reading a post on what one hacker who was arrested by the police in my country said, I’m starting to get confused on which one of them is more safe.

Well, there is always a way you can avoid all these dangers of being a victim of hackers, and that’s by being careful the way you give out information that has to do with yourself. Hackers target you when you give out information about yourself.

1Referee

legendary

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Quote from: @prashant on May 25, 2018, 07:20:59 AM

thats why people should prefer decentralized exchanges which are fast to do trading

Actually, decentralized exchanges aren't fast at all, which is the main reason the developments in that field progress in a slow manner. In no way right now can it compete with the services offered by centralized crypto exchanges. Another 'negative' aspect is that there is no way to combine fiat to crypto trades in a completely decentralized manner. The fiat aspect will always require permission from the service that's being used.

Regulations forcing exchanges to comply with all laws do however stimulate people to move over to decentralized exchanges, and at some point when the volumes justify actual development (more than is the case right now) in that field, things will definitely change for the better. But then again, not even decentralized exchanges are completely safe from malicious attacks as we have seen in the past. It's meant to provide decentralization, not total protection.

2fresh

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Quote from: DRVX on May 25, 2018, 06:52:10 AM

Quote from: Rubble898zaitO on May 06, 2018, 10:01:34 AM

I beg to disagree to that, I believe Bitcoin is not immune to hacking and fraud, actually, its value and popularity made it a target of almost all those hackers and fraudster out there. But due to it anonymity and security, it remains safe, but those hackers and fraudsters targeted exchanges and wallets that is why we got a lot of ways to keep our coins safe from these bad guys. Remember it is our responsibility to ensure the safety and security of our coins, especially because these are all for our family's future.

Unfortunately, bro, here you are absolutely right. Bitcoin and Bitcoin wallets can be hacked. No, it is not easy - I would say, it will be extremely difficult to do, but it is still possible. We have heard about stolen BTC.

Yes we have heard about it, because of people using phishing sites or getting their computer infected etc etc (by their own fault).
Not because anyone managed to beat SHA256 and the btc pow network.

@prashant

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Currently Bitcoin blockchain is immune to hacking ,you are talking here about wallets and exchanges that are hacked before.it is their problem for not securing their server not btc blockchain.thats why people should prefer decentralized exchanges which are fast to do trading and never leave your fund in exchanges or any other wallet other than hardware or client wallet.

maculeth

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BountyMarketCap

in fact there are no major cases of hacking and bitcoin theft. meaning that the wallet technology that stores bitcoins is very safe and immune.

DRVX

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Quote from: Rubble898zaitO on May 06, 2018, 10:01:34 AM

I beg to disagree to that, I believe Bitcoin is not immune to hacking and fraud, actually, its value and popularity made it a target of almost all those hackers and fraudster out there. But due to it anonymity and security, it remains safe, but those hackers and fraudsters targeted exchanges and wallets that is why we got a lot of ways to keep our coins safe from these bad guys. Remember it is our responsibility to ensure the safety and security of our coins, especially because these are all for our family's future.

Unfortunately, bro, here you are absolutely right. Bitcoin and Bitcoin wallets can be hacked. No, it is not easy - I would say, it will be extremely difficult to do, but it is still possible. We have heard about stolen BTC.

lastnumber

newbie

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Previously, I was skeptical that Bitcoin was not hacked because I had a bit of tech knowledge. I think that everything related to technology can be penetrated, can understand that is also a form of hack. But then, I think I was wrong to learn about Blockchain technology. Basically, blockchain block chain technology is unchangeable data information, meaning you can not unilaterally hack the Bitcoin. Yes, Bitcoin is not hacked.

joebrook

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Quote from: dcif80 on May 10, 2018, 04:13:59 AM

there are always fear of hacking

As far as I can tell the Bitcoin network or system cannot be hacked or manipulated because everyone is part of it. Investors should know this so that they are not easily swayed by reports that Bitcoin has been hacked.

maloibtc

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I don't know for sure but I think that wallet with bitcoins can be easily hacked if a person is a great hacker. As for the fraud, there are many fraudsters and scammers today and crypto market isn't an exception

dcif80

newbie

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there are always fear of hacking

lastnumber

newbie

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Certainly Bitcoin will not be hacked or tampered with, if you know the nature of the technology that made Bitcoin, the Blockchain technology. Others can be hacked off the Bitcoin number found in our electronic wallet, but the nature of the Bitcoin number in our wallet remains unchanged. Bitcoin may transfer the right of use from one person to another, without altering it in value.

putra daerah

newbie

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Quote from: ArteMixer on April 27, 2018, 03:16:29 AM

I personally believe that no. Almost every month there are some exchange frauds, mining frauds and such. Also nobody is protected from a virus to hack into your wallet and steal your BTC, which happens very often these days. But when it comes to hacking the blockchain itself, seemingly nobody had yet succeeded, and that is the reason why blockchain is still functional.

I agree with you that blockchain is difficult or even can not be hacked.
because as long as I join here, I never find blockchain hacked and forged.
I just heard the piercings of BTC wallets and coins ..

carlisle1

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Quote from: fiulpro on March 25, 2018, 12:29:01 PM

Nothing basically is safe from being hacked. And bitcoin is no exception to it. Actually its popularity and the value it holds makes it more prone to hacking and hijacking.
Lots of bitcoins worth huge money gets hacked time and again.
In August 2016, bitfinix announced that bitcoins worth $77 million was hacked. Similar hacks have happened in the past. The only thing different with bitcoin is that who was hacked and who hacked is not known here. All that we get to know is the adress from where the btc vanishes, unless one willingly admits of being hacked.

Certainly the security levels have gone up in recent times but individual secirity should be taken credible in assuring a secure wallet or a system. We cannot simply depend on the blockchain to secure our holdings.

Hackers are expert in their own fields,they are working good only for bad ways..every one ate vulnerable for being victimized by this kind of people thats why what we need to do is make sure that our crypto are safe and secured..

And fraud maybe your right,cryptonians are immune about this because if youre an active member of this community you will find in every section about this fraud issue

member1

newbie

Activity: 108

Merit: 0

Is it a joke? People have to keep 100+gb of blockchain on their pc just not to be frauded. But even in this case, if their HDD fails, they lose all the coins)
BTC hacking is impossible to trace so be cautious and dont let your profits wait for hackers on your accounts. Luckily, never lost more than 100$

Rubble898zaitO

newbie

Activity: 210

Merit: 0

I beg to disagree to that, I believe Bitcoin is not immune to hacking and fraud, actually, its value and popularity made it a target of almost all those hackers and fraudster out there. But due to it anonymity and security, it remains safe, but those hackers and fraudsters targeted exchanges and wallets that is why we got a lot of ways to keep our coins safe from these bad guys. Remember it is our responsibility to ensure the safety and security of our coins, especially because these are all for our family's future.

Topic: Is it true that bitcoin immune from hacking & fraud ?? - page 7. (Read 15113 times)