What if most of the hacking of exchanges is the government?

AgentofCoin

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Quote from: manselr on February 18, 2015, 01:31:40 PM

No need for paranoid theories. It's as simple as the exchange owners bailing out and running with the money because the are scared at the downtrend.
Lesson: do not store coins in exchanges.

This is most probable.

manselr

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No need for paranoid theories. It's as simple as the exchange owners bailing out and running with the money because the are scared at the downtrend.
Lesson: do not store coins in exchanges.

koelen3

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Sooner or later, a man who wears two faces forgets

Quote from: Brooker on February 17, 2015, 06:02:40 AM

Quote from: koelen3 on February 17, 2015, 02:18:17 AM

Why would govt involve in this
If they are against it , they can just issue legal orders or if they really want to do it , they would do bigger hack , so the exchnge goes totally down not small stealings

They probably will do that in the long run and try cripple bitcoin via regulations and laws etc but those things take time to pass and bitcoin isn't really a threat at the moment, but I doubt the gov is stealing people's bitcoins though maybe someone who works for them could.

If in near future , they think bitcoin as a threat than they shall ban fiat too
I mean half of the problems are cos of it!
And what about gold , diamond.

ranochigo

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Quote from: Mr Tea on February 17, 2015, 09:29:12 AM

Quote from: ranochigo on February 17, 2015, 09:11:28 AM

Government would probably not be able to hack bitcoin if the owners uses airtight cold storage and choose a hosting provider that is trustable and a team of trustable employees. Most of the time, it's the inside job, not a actual security vulnerabilities.

Bitcoin cannot be 'hacked' but if there's malware on their computers once they transfer the coins from cold storage to their computers they could theoretically nab them.

You can get malware by installation of suspicious programs and lesser chance by a vulnerability if you keep it updated well. That would be a hot wallet hack which shouldn't happen anyway if proper security techniques are practiced. Large withdrawal should be processed manually and the hot wallet should contain a very small percentage of the total funds.

fatguyyyyy

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Bitcoin Mixer: https://BitLaunder.com

probably the new NSA group 'Equation' is doing most of the hacking ..

Wendigo

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I think it's most likely an inside job.

lolled

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Quote from: Danielzo on February 17, 2015, 04:22:00 PM

Indeed, but it the U.S. isn't the only place where people are getting suspicious. The EU has recently passed a couple of shady laws as well, connected indirectly with the cryptocurrency.

Any examples of those ?

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: BitAddict on February 17, 2015, 11:55:15 AM

Hard to know, but I believe hackers are way more interested to steal that bitcoins. Most of the exchanges are too small for gov to care about it.

I also believe that bitcoin with its cap at ~3 Billion, is nothing to the gouvernments, so it just leaves us with thiefs and people "hacking" themselves.
There is no actual way of knowing in the end, so better just make your bussines at exchange at withdraw to your local wallet, safe and sound.

cheers

Danielzo

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Indeed, but it the U.S. isn't the only place where people are getting suspicious. The EU has recently passed a couple of shady laws as well, connected indirectly with the cryptocurrency.

mercistheman

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Could def see the Federal reserve spending a couple billion to preserve mult-bilion down the road.

fritz

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There are no what ifs about it. The government is always afraid of losing control.

Danielzo

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This is quite an interesting idea, but we also have to ask ourselves why the government would be interested in making exchanges fail. Do they fear the currency? Or are some corrupt bureaucrats with influence considering getting a larger amount for themselves?

If the government is behind this after all, we also have to remember that these coins do not actually disappear. They continue to exist and subtracting from a currency like btc wouldn't be too hard for someone involved in the Bitcoin conspiracy, as I like to call it.

neurotypical

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Nah it's just people running away with the money.

RodeoX

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The revolution will be monetized!

Always a big secret. Why not just that thieves like money?

tss

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anything can be hacked as there is always someone out there smarter than your team. but thats what cold wallets are for. so you can't be hacked and put out of business. when they lose their "cold" wallets they're just re appropriating funds into their own pockets.

BitAddict

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Hard to know, but I believe hackers are way more interested to steal that bitcoins. Most of the exchanges are too small for gov to care about it.

allthingsluxury

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Who knows, there is a chance that it is, although don't discount the significant profits that a hacker can gain from doing this. That is reason enough alone.

M8

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Quote from: Kevin77 on February 17, 2015, 11:00:45 AM

According to theories, bitcoin was created by gov, it's mined by gov and the exchanges are hacked by gov.
Then wtf we actually do here? Oh, maybe the gov made 400k accounts here and talks by itself.

Maybe all those accounts are government shills just paid to troll and spread fud and paranoia haha... of they're just stupid trolls who get off on spreading shit.

Kevin77

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According to theories, bitcoin was created by gov, it's mined by gov and the exchanges are hacked by gov.
Then wtf we actually do here? Oh, maybe the gov made 400k accounts here and talks by itself.

Mr Tea

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Quote from: GigaBit on February 17, 2015, 08:53:30 AM

All of them.

You might not believe me but there are people paid to take down Bitcoin or to hurt it every step of the way.

They know just how dangerous Bitcoin is to the Rothschild/Morgan banking cartels.

#BritishBankers, #TheRothschildFamily, #TheLastNapoleonicWars, #HowRothschildBankrolledTheWorld

Even if they wanted to they can try their best to take down bitcoin or damage it but this beast is bigger than them. I'd love to know how they can get their hands on my coins?

Quote from: ranochigo on February 17, 2015, 09:11:28 AM

Government would probably not be able to hack bitcoin if the owners uses airtight cold storage and choose a hosting provider that is trustable and a team of trustable employees. Most of the time, it's the inside job, not a actual security vulnerabilities.

Bitcoin cannot be 'hacked' but if there's malware on their computers once they transfer the coins from cold storage to their computers they could theoretically nab them.

Topic: What if most of the hacking of exchanges is the government? (Read 2514 times)